Derivative Instruments and Hedging Activities (Tables)

3 Months Ended

Apr. 01, 2017

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 our outstanding derivative instruments were as follows:

	Asset Derivatives
	Balance Sheet Location	Fair Value
		April 1, 2017		December 31, 2016
Designated derivatives:
Foreign currency forward contracts	Other current assets	$	3.0	$	3.1
Non-designated derivatives:
Foreign currency forward contracts	Other current assets	$	3.5	$	0.7

	Liability Derivatives
	Balance Sheet Location	Fair Value
		April 1, 2017		December 31, 2016
Designated derivatives:
Foreign currency forward contracts	Accrued liabilities	$	1.9	$	3.0
Non-designated derivatives:
Foreign currency forward contracts	Accrued liabilities	$	0.6	$	2.0

Schedule of derivative instruments, effect on other comprehensive income (loss)

The gains (losses) recorded in OCI for the effective portion of our designated cash flow hedges were as follows:

	Amount of Gain/(Loss) Recorded in OCI (Effective Portion)
	Three Months Ended
Designated Cash Flow Hedges	April 1, 2017		April 2, 2016
Interest rate swap agreements	$	—	$	(9.0	)
Foreign currency forward contracts	2.5		1.6
Total	$	2.5	$	(7.4	)

Reclassification out of AOCI

The gains (losses) reclassified from AOCI into earnings for the effective portion of our designated cash flow hedges were as follows:

		Amount of Gain/(Loss) Reclassified from AOCI to Income (Effective Portion)
		Three Months Ended
Designated Cash Flow Hedges	Income Statement Location	April 1, 2017			April 2, 2016
Interest rate swap agreements	Interest expense, net	$	(0.6	)	$	(0.5	)
Foreign currency forward contracts	Net sales	0.2			0.5
	Cost of sales	0.7			0.3
	Interest expense, net	(0.6		)	(0.4		)
	Other (income) expense, net	(0.5		)	0.2
Total		$	(0.8	)	$	0.1

Schedule of hedge ineffectiveness

The gains (losses) recognized against earnings for the ineffective portion of our designated cash flow hedges were as follows:

		Amount of Gain/(Loss) Recognized in Income (Ineffective Portion)
		Three Months Ended
Designated Cash Flow Hedges	Income Statement Location	April 1, 2017		April 2, 2016
Interest rate swap agreements	Other (income) expense, net	$	—	$	(0.1	)
Foreign currency forward contracts	Net sales	—		(0.1		)
	Cost of sales	—		0.1
	Other (income) expense, net	0.9		—
Total		$	0.9	$	(0.1	)

Schedule of non-designated derivatives

The effects of our non-designated derivatives on the Condensed Consolidated Statements of Operations were as follows:

		Amount of Gain/(Loss) Recognized in Income
		Three Months Ended
Non-Designated Derivatives	Income Statement Location	April 1, 2017			April 2, 2016
Foreign currency forward contracts	Other (income) expense, net	$	(8.9	)	$	(6.9	)
	Interest expense, net	(0.4		)	0.1
Total		$	(9.3	)	$	(6.8	)