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Derivative Instruments and Hedging Activities (Tables)
9 Months Ended
Oct. 01, 2011
General Discussion of Derivative Instruments and Hedging Activities [Abstract] 
Schedule of Derivative Instruments [Text Block]
Following is a listing of the Company's outstanding derivative financial instruments at fair value as of October 1, 2011 and December 25, 2010. Related to the forward contracts, the “buy” amounts represent the U.S. dollar equivalent of commitments to purchase foreign currencies, and the “sell” amounts represent the U.S. dollar equivalent of commitments to sell foreign currencies, all translated at the period-end market exchange rates for the U.S. dollar. All forward contracts are hedging net investments in certain foreign subsidiaries, cross-currency intercompany loans that are not permanent in nature, cross-currency external payables and receivables or forecasted purchases. Some amounts are between two foreign currencies:
Forward Contracts
 
October 1, 2011
 
December 25, 2010
(in millions)
 
Buy
 
Sell 
 
Buy
 
Sell
U.S. dollar
 
$
41.7

 

 
$
21.0

 

Euro
 
39.7

 

 
65.2

 

South African rand
 
11.3

 


 


 
$
1.2

Brazilian real
 
9.6

 


 
2.8

 

Mexican peso
 
8.3

 


 


 
0.2

Indonesian rupiah
 
8.2

 


 
17.5

 

Malaysian ringgit
 
7.8

 


 


 
0.3

New Zealand dollar
 
2.0

 


 
4.4

 


South Korean won
 
0.6

 

 
12.5

 

Hungarian forint
 
0.2

 

 

 
1.9

Swiss franc
 

 
$
28.8

 

 
49.6

Japanese yen
 

 
22.0

 

 
11.9

Turkish lira
 


 
17.7

 


 
11.9

Australian dollar
 


 
11.1

 


 
5.5

Russian ruble
 


 
6.0

 


 
1.0

Polish zloty
 


 
4.9

 


 
5.7

British pound
 


 
4.1

 


 
3.3

Kazakhstan tenge
 


 
3.7

 


 
2.6

Canadian dollar
 


 
2.9

 


 
9.6

Croatian kuna
 


 
2.6

 


 
2.6

Thai baht
 


 
2.5

 


 
2.2

Norwegian krone
 


 
2.2

 


 
1.8

Argentine peso
 


 
1.7

 


 
7.6

Swedish krona
 


 
1.7

 


 
1.5

Ukraine hryvnia
 


 
1.3

 


 
1.3

Czech koruna
 


 
1.1

 


 
1.6

Danish krone
 


 
0.6

 


 

Other currencies (net)
 


 
3.4

 

 
1.9

 
 
$
129.4

 
$
118.3

 
$
123.4

 
$
125.2

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Text Block]
The following tables summarize the Company's derivative positions and the impact they have on the Company's financial position as of October 1, 2011 and December 25, 2010:
 
October 1, 2011
 
Asset derivatives
 
Liability derivatives
Derivatives not designated as hedging
instruments (in millions)
Balance sheet location
 
Fair value
 
Balance sheet location
 
Fair value
Interest rate contracts
Non-trade amounts receivable
 
$

 
Accrued liabilities
 
$
14.0

Derivatives designated as hedging
instruments (in millions)
 
 
 
 
 
 
 
Foreign exchange contracts
Non-trade amounts receivable
 
44.5

 
Accrued liabilities
 
33.3

Total derivatives instruments
 
 
$
44.5

 
 
 
$
47.3

 
 
 
December 25, 2010
 
Asset derivatives
 
Liability derivatives
Derivatives designated as hedging
instruments (in millions)
Balance sheet location
 
Fair value
 
Balance sheet location
 
Fair value
Interest rate contracts
Non-trade amounts receivable
 
$

 
Other liabilities
 
$
23.1

Foreign exchange contracts
Non-trade amounts receivable
 
16.1

 
Accrued liabilities
 
17.7

Total derivatives designated as hedging instruments
 
 
$
16.1

 
 
 
$
40.8

Schedule Of Company's Derivative Position And Its Impact On Company Table [Text Block]
The following tables summarize the Company's derivative positions and the impact they had on the Company's results of operations and comprehensive income for the third quarters ended October 1, 2011 and September 25, 2010:
Derivatives designated as fair
value hedges (in millions)
 
Location of gain or
(loss) recognized in
income on derivatives
 
Amount of gain or
(loss) recognized in
income on derivatives 
 
Location of gain or
(loss) recognized in
income on related
hedged items
 
Amount of gain or (loss)
recognized in income on
related hedged items
 
 
 
 
2011
2010
 
 
 
2011
2010
Foreign exchange contracts
 
Other expense
 
$
(23.9
)
$
3.0

 
Other expense
 
$
23.7

$
(3.8
)
Derivatives designated as
cash flow and net equity
hedges (in millions)
 
Amount of gain or
(loss) recognized in
OCI on derivatives
(effective portion)
 
Location of gain or
(loss) reclassified from
accumulated OCI  into
income (effective
portion)
 
Amount of gain or
(loss) reclassified
from accumulated
OCI into income
(effective portion)
 
Location of gain or
(loss) recognized
in income on
derivatives
(ineffective portion
and amount
excluded from
effectiveness
testing)
 
Amount of gain or
(loss) recognized
in income on
derivatives
(ineffective
portion and
amount excluded
from effectiveness
testing)
Cash flow hedging relationships
 
2011
2010
 
 
 
2011
2010
 
 
 
2011
2010
Interest rate contracts
 
$

$
(0.1
)
 
Interest expense
 
$

$

 
Interest expense
 
$

$
0.1

Foreign exchange contracts
 
2.7


 
Cost of products
sold and DS&A
 
0.8

0.5

 
Interest expense
 
(0.4
)
(0.5
)
Net equity hedging relationships
 
 
 
 
 
 
 
 
 
 
 
 
 
Foreign exchange contracts
 
28.4

(6.4
)
 
Other expense
 


 
Interest expense
 
(2.5
)
(2.2
)
The following tables summarize the Company's derivative positions and the impact they had on the Company's results of operations and comprehensive income for the year-to-date periods ended October 1, 2011 and September 25, 2010:
Derivatives designated as fair
value hedges (in millions)
 
Location of gain or
(loss) recognized in
income on derivatives
 
Amount of gain or
(loss) recognized in
income on derivatives 
 
Location of gain or
(loss) recognized in
income on related
hedged items
 
Amount of gain or (loss)
recognized in income on
related hedged items
 
 
 
 
2011
2010
 
 
 
2011
2010
Foreign exchange contracts
 
Other expense
 
$
(3.1
)
$

 
Other expense
 
$
3.1

$
(0.9
)

Derivatives designated as
cash flow and net equity
hedges (in millions)
 
Amount of gain or
(loss) recognized in
OCI on derivatives
(effective portion)
 
Location of gain or
(loss) reclassified from
accumulated OCI  into
income (effective
portion)
 
Amount of gain or
(loss) reclassified
from accumulated
OCI into income
(effective portion)
 
Location of gain or
(loss) recognized
in income on
derivatives
(ineffective portion
and amount
excluded from
effectiveness
testing)
 
Amount of gain or
(loss) recognized
in income on
derivatives
(ineffective
portion and
amount excluded
from effectiveness
testing)
Cash flow hedging relationships
 
2011
2010
 
 
 
2011
2010
 
 
 
2011
2010
Interest rate contracts
 
$
4.1

$
(0.1
)
 
Interest expense
 
$

$

 
Interest expense
 
$
(18.9
)
$
0.2

Foreign exchange contracts
 
(0.2
)
0.3

 
Cost of products
sold and DS&A
 
2.5

0.6

 
Interest expense
 
(1.6
)
(1.6
)
Net equity hedging relationships
 
 
 
 
 
 
 
 
 
 
 
 
 
Foreign exchange contracts
 
11.1

(6.6
)
 
Other expense
 


 
Interest expense
 
(7.9
)
(5.8
)