Derivatives and Hedging Activities (Tables)

9 Months Ended

Sep. 30, 2012

The following table details the fair value of our derivative instruments included on our condensed consolidated balance sheets.


	Fair Value of Asset Derivatives(1)				Fair Value of (Liability) Derivatives(1)
	September 30, 2012		December 31, 2011		September 30, 2012			December 31, 2011
Derivatives designated as hedging instruments:
Foreign currency forward contracts (cash flow hedges)	$	—	$	0.5	$	—		$	(0.5	)
Interest rate swaps (fair value hedges)		—		2.1		—			—
Derivatives not designated as hedging instruments:
Foreign currency forward contracts		22.8		18.0		(16.8	)		(3.0	)

Total	$	22.8	$	20.6	$	(16.8	)	$	(3.5	)

(1)	Asset derivatives are included in other assets and liability derivatives are included in other liabilities.

Effect of Derivative Instruments on Condensed Consolidated Statement of Operations

The following table details the effect of our derivative instruments on our condensed consolidated statements of operations.


	Amount of Gain (Loss) Recognized in Net Earnings on Derivatives(1)

	Three Months Ended September 30,					Nine Months Ended September 30,

	2012		2011			2012			2011
Derivatives designated as hedging instruments:
Interest rate swaps	$	—	$	1.3		$	0.4		$	3.6
Foreign currency forward contracts(2)		—		(0.1	)		(0.1	)		—
Derivatives not designated as hedging instruments:
Foreign currency forward contracts(2)		13.6		7.2			8.0			7.8

Total	$	13.6	$	8.4		$	8.3		$	11.4

(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 expense, net, on the condensed consolidated statement of operations. The underlying foreign currency denominated items include third party and intercompany receivables and payables and interest-bearing intercompany loans. 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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- Definition

Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

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