XML 63 R35.htm IDEA: XBRL DOCUMENT v2.4.0.8
Derivative Instruments and Hedging Activities (Tables)
12 Months Ended
Jun. 28, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value
The balance sheet location and gross fair value of the Company's derivative instruments at June 28, 2014 and June 29, 2013 were as follows (in millions):
  
Asset Derivatives
  
Balance Sheet Location
 
Fair Value
  
 
 
June 28, 2014
 
June 29, 2013
Hedging derivatives:
 
 
 
 
 
Foreign currency forward contracts
Other current assets
 
$
2.8

 
$
7.2

Total hedging derivatives
 
 
$
2.8

 
$
7.2

Non-hedging derivatives:
 
 
 
 
 
Foreign currency forward contracts
Other current assets
 
$
0.3

 
$
0.8

Total non-hedging derivatives
 
 
$
0.3

 
$
0.8

  
Liability Derivatives
  
Balance Sheet Location
 
Fair Value
  
 
 
June 28, 2014
 
June 29, 2013
Hedging derivatives:
 
 
 
 
 
Foreign currency forward contracts
Accrued liabilities
 
$
0.7

 
$
0.2

Interest rate swap agreements
Other non-current liabilities
 
8.3

 
10.8

Total hedging derivatives
 
 
$
9.0

 
$
11.0

Non-hedging derivatives:
 
 
 
 
 
Foreign currency forward contracts
Accrued liabilities
 
$
0.1

 
$
0.2

Total non-hedging derivatives
 
 
$
0.1

 
$
0.2


Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance
The effects (gross of tax) of the Company's cash flow hedges on the Statements of Operations and Statements of Other Comprehensive Income (Loss) at June 28, 2014 and June 29, 2013 were as follows (in millions):
Derivatives Qualifying for Cash
Flow Hedging
 
Amount of (Gain)/
Loss Recognized in OCI on Derivative (Effective Portion)
 
Location and Amount of (Gain)/Loss
Reclassified from Accumulated OCI into Income
(Effective Portion)
 
Location and Amount of (Gain)/Loss 
Recognized in Income on Derivative
(Ineffective Portion and Amount Excluded from Effectiveness Testing)
  
 
June 28, 2014
 
June 29, 2013
 
 
 
June 28, 2014
 
June 29, 2013
 
 
 
June 28, 2014
 
June 29, 2013
T-Locks
 
$

 
$

 
Interest, net
 
$
(0.2
)
 
$
0.4

 
Interest, net
 
$
(2.3
)
 
$

Interest rate swap agreements
 
(7.2
)
 
1.3

 
Interest, net
 
(3.9
)
 
(5.0
)
 
Interest, net
 
5.4

 

Foreign currency forward contracts
 
(15.1
)
 
10.6

 
Net sales
 
2.5

 
2.9

 
Net sales
 
0.1

 

 
 
 
 
 
 
Cost of sales
 
6.3

 
(4.3
)
 
Cost of sales
 
(0.3
)
 
(0.2
)
 
 
 
 
 
 
Interest, net
 
0.2

 
0.1

 
 
 
 
 
 
 
 
 
 
 
 
Other (income)expense, net
 
2.2

 
3.2

 
 
 
 
 
 
Total
 
$
(22.3
)
 
$
11.9

 
 
 
$
7.1

 
$
(2.7
)
 
 
 
$
2.9

 
$
(0.2
)