The following table summarizes the Company's derivative positions, which are the only assets and liabilities recorded at fair value on a recurring basis, and the impact they had on the Company's financial position as of September 29, 2018 and December 30, 2017. Fair values were determined based on third party quotations (Level 2 fair value measurement): | | | | | | | | | | | | | | | | | | | | | |
| | Asset derivatives | | Liability derivatives | | | | | Fair value | | | | Fair value | Derivatives designated as hedging instruments (in millions) | | Balance sheet location | | Sep 29, 2018 | | Dec 30, 2017 | | Balance sheet location | | Sep 29, 2018 | | Dec 30, 2017 | Foreign exchange contracts | | Non-trade amounts receivable | | $ | 19.7 |
| | $ | 32.2 |
| | Accrued liabilities | | $ | 14.8 |
| | $ | 29.6 |
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The following table summarizes the impact of the Company's fair value hedging positions on the results of operations for the third quarters of 2018 and 2017: | | | | | | | | | | | | | | | | | | | | | | 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 | | | | | 2018 | | 2017 | | | | 2018 | | 2017 | Foreign exchange contracts | | Other expense | | $ | 3.4 |
| | $ | 2.1 |
| | Other expense | | $ | (3.4 | ) | | $ | (2.1 | ) |
The following table summarizes the impact of the Company's hedging activities on comprehensive income for the third quarters of 2018 and 2017: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Cash flow and net equity hedges (in millions) | | Amount of gain or (loss) recognized in OCI (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 (ineffective portion and amount excluded from effectiveness testing) | | Amount of gain or (loss) recognized in income (ineffective portion and amount excluded from effectiveness testing) | Cash flow hedging relationships | | 2018 | | 2017 | | | | 2018 | | 2017 | | | | 2018 | | 2017 | Foreign exchange contracts | | $ | 2.0 |
| | $ | (0.5 | ) | | Cost of products sold | | $ | 2.3 |
| | $ | (0.6 | ) | | Interest expense | | $ | (1.1 | ) | | $ | (1.2 | ) | Net equity hedging relationships | | | | | | | | | | | | | | | | | Foreign exchange contracts | | (0.6 | ) | | (1.9 | ) | | | | | | | | Interest expense | | (4.5 | ) | | (6.7 | ) | Euro denominated debt | | (0.8 | ) | | (4.0 | ) | | | | | | | | | | | | |
The following table summarizes the impact of the Company's fair value hedging positions on the results of operations for the year-to-date periods ended September 29, 2018 and September 30, 2017: | | | | | | | | | | | | | | | | | | | | | | 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 | | | | | 2018 | | 2017 | | | | 2018 | | 2017 | Foreign exchange contracts | | Other expense | | $ | (11.4 | ) | | $ | 40.3 |
| | Other expense | | $ | 10.8 |
| | $ | (40.2 | ) |
The following table summarizes the impact of the Company's hedging activities on comprehensive income for the year-to-date periods ended September 29, 2018 and September 30, 2017: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Cash flow and net equity hedges (in millions) | | Amount of gain or (loss) recognized in OCI (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 (ineffective portion and amount excluded from effectiveness testing) | | Amount of gain or (loss) recognized in income (ineffective portion and amount excluded from effectiveness testing) | Cash flow hedging relationships | | 2018 | | 2017 | | | | 2018 | | 2017 | | | | 2018 | | 2017 | Foreign exchange contracts | | $ | 6.1 |
| | $ | (6.5 | ) | | Cost of products sold | | $ | 4.2 |
| | $ | 1.0 |
| | Interest expense | | $ | (2.9 | ) | | $ | (3.6 | ) | Net equity hedging relationships | | | | | | | | | | | | | | | | | Foreign exchange contracts | | 15.6 |
| | (45.1 | ) | | | | | | | | Interest expense | | (16.0 | ) | | (18.9 | ) | Euro denominated debt | | 0.8 |
| | (10.9 | ) | | | | | | | | | | | | |
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