Derivative Instruments and Hedging Activities (Tables)

12 Months Ended

Dec. 31, 2012

Derivative Instruments and Hedging Activities

Notional amounts outstanding under foreign currency contracts

The Company had the following notional amounts outstanding under foreign currency contracts at December 31, (in millions):

Buy	Notional Amount in Buy Currency		Sell	Maturity	Notional Amount in U.S. Dollars		Fair Value of Assets		Fair Value of Liabilities
December 31, 2012:
Euro		1.2	Australian Dollars	January 2013 to April 2013	$	1.6	$	0.0	$	—
Euro		49.3	U.S. Dollars	January 2013 to October 2013		64.0		1.2		—
Swiss Francs		26.1	U.S. Dollars	January 2013		27.9		0.6		—
U.S. Dollars		0.8	Mexican Pesos	January 2013		0.8		—		—
					$	94.3	$	1.8	$	—
December 31, 2011:
Euro		1.5	Australian Dollars	January 2012	$	2.1	$	—	$	0.1
Euro		35.0	U.S. Dollars	January 2012 to October 2012		48.2		—		2.9
Swiss Francs		24.5	U.S. Dollars	January 2012		27.4		—		1.2
U.S. Dollars		2.5	Mexican Pesos	January 2012 to November 2012		2.5		—		—
					$	80.2	$	—	$	4.2

Fair value and balance sheet location of derivative instruments

The fair value of the derivative instruments described above are recorded in our consolidated balance sheets for the years ending December 31, 2012 and 2011 as follows (in millions):

	Balance Sheet Location	2012		2011
Derivative assets:
Foreign exchange contracts	Other current assets	$	1.8	$	—
Embedded derivatives in purchase and delivery contracts	Other current assets		0.3		0.6
Fixed price commodity contracts	Other current assets		—		0.5
Derivative liabilities:
Foreign exchange contracts	Other current liabilities	$	—	$	4.2
Interest rate swap contract	Other current liabilities		—		1.1
Embedded derivatives in purchase and delivery contracts	Other current liabilities		0.3		0.4
Fixed price commodity contracts	Other current liabilities		0.2		0.5

Losses recognized in other comprehensive income related to the effective portion of the interest rate swap designated as a hedging instrument

The losses recognized in other comprehensive income related to the effective portion of the interest rate swap designated as a hedging instrument for the years ending December 31, are as follows (in millions):

	2012			2011			2010
Interest rate swap contract	$	(0.2	)	$	(0.3	)	$	(2.1	)

Losses related to the effective portion of the interest rate swap designated as a hedging instrument that were reclassified from other comprehensive income and recognized in net income

The losses related to the effective portion of the interest rate swap designated as a hedging instrument that were reclassified from other comprehensive income and recognized in net income for the years ending December 31, are as follows (in millions):

	2012			2011			2010
Interest rate swap contract	$	(1.3	)	$	(2.2	)	$	(2.6	)

Impact on net income of changes in the fair value of derivative instruments not designated as hedging instruments

The impact on net income of unrealized gains and losses resulting from changes in the fair value of derivative instruments not designated as hedging instruments for the years ending December 31, are as follows (in millions):

	2012			2011			2010
Foreign exchange contracts	$	6.0		$	(4.6	)	$	0.4
Embedded derivatives		(0.2	)		1.6			0.1
Income (expense), net	$	5.8		$	(3.0	)	$	0.5