Derivative Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2014

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Fair value of derivative instruments

As of March 31, 2014 and December 31, 2013, the fair value of the Company’s derivative instruments included in the accompanying Condensed Consolidated Balance Sheets were recorded as follows:

(in millions)
	Asset Derivatives
	Balance Sheet Location	Fair Value
		March 31, 2014		December 31, 2013
Derivatives designated as hedging instruments
Foreign exchange forward contracts	Prepaid expenses and other current assets	$	1.0	$	—
Derivatives not designated as hedging instruments
Foreign exchange forward contracts	Prepaid expenses and other current assets	0.6		—
		$	1.6	$	—

(in millions)
	Liability Derivatives
	Balance Sheet Location	Fair Value
		March 31, 2014		December 31, 2013
Derivatives designated as hedging instruments
Interest rate swap - current	Accrued expenses and other current liabilities	$	1.5	$	1.4
Interest rate swap - non-current	Other non-current liabilities	0.6		0.9
		$	2.1	$	2.3

Effect of derivative instruments on Statements of Income

The effect of derivative instruments on the accompanying Condensed Consolidated Statements of Income for the three months ended March 31, 2014 was as follows:

Derivatives Designated as Cash Flow Hedging Relationships	Amount of Gain/(Loss) Recognized in Accumulated OCI on Derivative (Effective Portion)		Location of Gain/(Loss) Reclassified from Accumulated OCI into Income (Effective Portion)	Amount of Gain/(Loss) Reclassified from Accumulated OCI into Income (Effective Portion)			Location of Gain/(Loss) Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing)	Amount of Gain/(Loss) Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing)
Interest rate swap	$	0.2	Interest expense, net	$	(0.5	)	Interest expense, net	$	—
Foreign exchange forward contracts	$	1.7	Cost of goods sold	$	(0.6	)	Cost of goods sold	$	(0.3	)

Derivatives Not Designated as Hedging Instruments	Location of Gain/(Loss) Recognized in Income on Derivative	Amount of Gain/(Loss) Recognized in Income on Derivative
Foreign exchange forward contracts	Other income (expense), net	$	0.8

The effect of derivative instruments on the accompanying Condensed Consolidated Statements of Income for the three months ended March 31, 2013 was as follows:

Derivatives Designated as Cash Flow Hedging Relationships	Amount of Gain/(Loss) Recognized in Accumulated OCI on Derivative (Effective Portion)		Location of Gain/(Loss) Reclassified from Accumulated OCI into Income (Effective Portion)	Amount of Gain/(Loss) Reclassified from Accumulated OCI into Income (Effective Portion)		Location of Gain/(Loss) Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing)	Amount of Gain/(Loss) Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing)
Interest rate swap	$	0.6	Interest expense, net	(0.8	)	Interest expense, net	$	—