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Derivative Instruments and Hedging Activities (Tables)
3 Months Ended
Mar. 31, 2012
Derivative Instruments and Hedging Activities  
Notional amounts outstanding under foreign currency contracts

Buy 

 

Notional
Amount in Buy
 Currency

 

Sell

 

Maturity

 

Notional
Amount in U.S.
Dollars

 

Fair Value of
Assets

 

Fair Value of
Liabilities

 

March 31, 2012:

 

 

 

 

 

 

 

 

 

 

 

 

 

Euro

 

2.2

 

Australian Dollars

 

April 2012 to November 2012

 

$

3.0

 

$

 

$

0.1

 

Euro

 

32.3

 

U.S. Dollars

 

April 2012 to October 2012

 

41.4

 

1.8

 

 

Japanese Yen

 

25.0

 

Euro

 

April 2012 to July 2012

 

0.3

 

 

 

Swiss Francs

 

32.2

 

U.S. Dollars

 

April 2012

 

34.1

 

1.5

 

 

U.S. Dollars

 

9.4

 

Euro

 

April 2012

 

9.5

 

 

0.1

 

U.S. Dollars

 

1.2

 

Mexican Pesos

 

April 2012 to November 2012

 

1.4

 

 

0.1

 

 

 

 

 

 

 

 

 

$

89.7

 

$

3.3

 

$

0.3

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

March 31,

 

December 31,

 

 

 

Balance Sheet Location

 

2012

 

2011

 

Derivative assets:

 

 

 

 

 

 

 

Foreign exchange contracts

 

Other current assets

 

$

3.3

 

$

 

Embedded derivatives in purchase and delivery contracts

 

Other current assets

 

0.3

 

0.6

 

Commodity contracts

 

Other current assets

 

0.1

 

0.5

 

 

 

 

 

 

 

 

 

Derivative liabilities:

 

 

 

 

 

 

 

Interest rate swap contract

 

Other current liabilities

 

$

0.9

 

$

1.1

 

Foreign exchange contracts

 

Other current liabilities

 

0.3

 

4.2

 

Embedded derivatives in purchase and delivery contracts

 

Other current liabilities

 

0.5

 

0.4

 

Fixed price commodity contracts

 

Other current liabilities

 

0.1

 

0.5

 

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

 

 

Three Months Ended March 31,

 

 

 

2012

 

2011

 

Interest rate swap contract

 

$

(0.2

)

$

(0.1

)

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

 

 

Three Months Ended March 31,

 

 

 

2012

 

2011

 

Interest rate swap contract

 

$

(0.4

)

$

(0.5

)

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

 

 

Three Months Ended March 31,

 

 

 

2012

 

2011

 

Foreign exchange contracts

 

$

7.2

 

$

(0.1

)

Embedded derivatives

 

(0.5

)

0.7

 

Income (expense), net

 

$

6.7

 

$

0.6