Derivatives and Hedging Activities (Tables)

9 Months Ended

Sep. 30, 2011

Derivatives and Hedging Activities [Abstract]


	Fair Value of Asset				Fair Value of (Liability)
	Derivatives(1)				Derivatives(1)
	September 30,		December 31,		September 30,			December 31,
	2011		2010		2011			2010
Derivatives designated as hedging instruments:
Foreign currency forward contracts (cash flow hedges)	$	0.3	$	0.1	$	—		$	—
Interest rate swaps		9.5		6.0		—			(0.2	)
Derivatives not designated as hedging instruments:
Foreign currency forward contracts		7.6		0.5		(0.2	)		(0.8	)

Total	$	17.4	$	6.6	$	(0.2	)	$	(1.0	)


(1)		Asset derivatives were included in other assets for the foreign currency forward contracts and for the interest rate swaps. Liability derivatives were included in other liabilities for the foreign currency forward contracts and for the interest rate swaps.

Effect of derivative instruments on condensed consolidated statement of operations


	Amount of Gain (Loss)
	Recognized in
	Net Earnings on Derivatives(1)
	Three Months					Nine Months
	Ended					Ended
	September 30,					September 30,
	2011			2010		2011		2010
Derivatives designated as hedging instruments:
Interest rate swaps	$	1.3		$	1.2	$	3.6	$	3.3
Foreign currency forward contracts(2)		(0.1	)		0.5		—		0.2
Derivatives not designated as hedging instruments:
Foreign currency forward contracts(2)		7.2			23.4		7.8		12.9


Total	$	8.4		$	25.1	$	11.4	$	16.4


(1)		Amounts recognized on the foreign currency forward contracts were included in other income (expense), net. Amounts recognized on the interest rate swaps were included in interest expense.

(2)		The net gains and (losses) included above were substantially offset by the net (losses) and gains resulting from the remeasurement of the underlying foreign currency denominated items, which are included in other income (expense), net, on the condensed consolidated statement of operations. The underlying foreign currency denominated items include receivables and payables and interest-bearing intercompany loans and receivables and payables excluding the underlying foreign currency denominated items relating to the foreign currency forward contracts we entered into in contemplation of the closing of the acquisition of Diversey in the month of September 2011. See “Foreign Currency Forward Contracts Not Designated as Hedges” above for further information.

- Definition

Tabular disclosure of the location and amount of gains and losses reported in the statement of financial performance, or when applicable, the statement of financial position. For example, (a) gains and losses recognized in the income statement on derivative instruments designated and qualifying as hedging instruments in fair value hedges and related hedged items designated and qualifying in fair value hedges and (b) gains and losses initially recognized in other comprehensive income on derivative instruments designated and qualifying as cash flow hedges.

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