DERIVATIVES (Tables)

9 Months Ended

Sep. 30, 2014

Summary of Company's Interest Rate Derivatives

A summary of the Company’s interest rate derivatives as of September 30, 2014 and December 31, 2013 follows (dollars in millions):

	September 30, 2014					December 31, 2013
	Notional Amount		Fair Value			Notional Amount		Fair Value
3.75% Interest Rate Swap H, due August 2014	$	—	$	—		$	350.0	$	(7.2	)
3.77% Interest Rate Swap I, due August 2014		—		—			350.0		(7.2	)
2.96% Interest Rate Swap J, due August 2014		—		—			125.0		(2.0	)
3.05% Interest Rate Swap K, due August 2014		—		—			125.0		(2.0	)
3.44% Interest Rate Swap L, due August 2019*		75.0		(1.5	)		75.0		(0.4	)
3.43% Interest Rate Swap M, due August 2019*		100.0		(2.0	)		100.0		(0.4	)
3.37% Interest Rate Swap N, due August 2019*		75.0		(1.4	)		75.0		(0.2	)
3.19% Interest Rate Swap O, due August 2019*		75.0		(1.0	)		75.0		0.2
3.08% Interest Rate Swap P, due August 2019*		75.0		(0.7	)		75.0		0.4
2.99% Interest Rate Swap Q, due August 2019*		50.0		(0.4	)		50.0		0.4
2.98% Interest Rate Swap R, due August 2019*		50.0		(0.3	)		50.0		0.4
2.73% Interest Rate Swap S, due August 2019*		50.0		—			0.0		0.0
2.74% Interest Rate Swap T, due August 2019*		75.0		—			0.0		0.0
2.66% Interest Rate Swap U, due August 2019*		50.0		0.1			0.0		0.0
2.60% Interest Rate Swap V, due August 2019*		50.0		0.2			0.0		0.0
* includes LIBOR floor of 1.00%	$	725.0	$	(7.0	)	$	1,450.0	$	(18.0	)

Derivative Instruments and their Impact on the Financial Condition

The following tabular disclosures further describe the Company’s derivative instruments and their impact on the financial condition of the Company (dollars in millions):

	September 30, 2014				December 31, 2013
	Balance Sheet Location	Fair Value			Balance Sheet Location	Fair Value
Derivatives not designated as hedging instruments
Foreign currency contracts	Other current liabilities	$	(0.2	)	Other current liabilities	$	(0.3	)
Commodity contracts	Other current and non-current assets		0.4		Other current and non-current assets		0.1
	Other current liabilities		(0.3	)	Other current and non-current liabilities		(1.7	)
Interest rate contracts	Other non-current assets		0.4		Other non-current assets		1.5
	Other non-current liabilities		(7.3	)	Other current and non-current liabilities		(19.5	)
Total derivatives not designated as hedging instruments		$	(7.0	)		$	(19.9	)

Interest Rate Derivative Instruments and their Impact on the Results of Operations

The impact on the Company’s Condensed Consolidated Statements of Comprehensive Income related to foreign currency and commodity contracts can be found in NOTE J, and the following tabular disclosure describes the location and impact on the Company’s results of operations related to unrealized gain on interest rate derivatives (dollars in millions):

	Three months ended September 30,				Nine months ended September 30,
	2014		2013		2014		2013
Interest expense	$	4.6	$	5.1	$	11.1	$	23.3

Foreign Currency Forward Contract

Notional Amount and Fair Value of Derivatives

The following table summarizes the outstanding foreign currency forward contracts as of September 30, 2014 and December 31, 2013 (amounts in millions):

	September 30, 2014					December 31, 2013
	Notional Amount		Fair Value			Notional Amount		Fair Value
Japanese Yen (JPY)	¥	600.0	$	(0.2	)	¥	600.0	$	(0.3	)
			$	(0.2	)			$	(0.3	)

Commodity contracts

Notional Amount and Fair Value of Derivatives

The following table summarizes the outstanding commodity swaps as of September 30, 2014 and December 31, 2013 (dollars in millions):

	September 30, 2014					December 31, 2013
	Notional Amount		Quantity	Fair Value		Notional Amount		Quantity	Fair Value
Aluminum	$	14.8	7,500 metric tons	$	0.1	$	23.8	11,875 metric tons	$	(1.6	)
Natural Gas		0.2	40,000 MMBtu		—		0.3	90,000 MMBtu		0.0
				$	0.1				$	(1.6	)