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Derivative Instruments and Risk Management (Tables)
6 Months Ended
Jun. 30, 2012
Fair Value of Derivative Instruments

The following table summarizes the fair value of the Company’s derivative instruments and the effect of derivative instruments on the Company’s Consolidated Statements of Income and on other comprehensive income (“OCI”):

Fair Value of Derivative Instruments

 

          Notional
Amount
     Fair Value at  

(In millions)

  

Balance Sheet Location

   June 30,
2012
     June 30,
2012
     December 31,
2011
 

Derivatives designated as hedging instruments

           

Asset Derivatives

           

Diesel fuel contracts

   Other current assets    $ 0.0       $ 0.0       $ 0.1   

Foreign exchange contracts

   Other current assets    $ 23.6         0.8         1.1   
        

 

 

    

 

 

 

Total assets

         $ 0.8       $ 1.2   
        

 

 

    

 

 

 

Liability Derivatives

           

Diesel fuel contract

   Accounts payable and accrued expenses    $ 10.0       $ 0.9       $ 0.0   
        

 

 

    

 

 

 

Total liabilities

         $ 0.9       $ 0.0   
        

 

 

    

 

 

 

Derivatives not designated as hedging instruments

           

Asset Derivatives

           

Foreign exchange contracts

   Other current assets    $ 39.6       $ 0.4       $ 0.0   

Equity derivatives

   Other current assets    $ 20.2         3.1         2.0   
        

 

 

    

 

 

 

Total assets

         $ 3.5       $ 2.0   
        

 

 

    

 

 

 

 

          Amount of Gain (Loss)
Recognized in OCI from
Derivatives for

the Three Months Ended
 
    

Income Statement Location

   June 30,
2012
    July 1,
2011
 

Derivatives designated as hedging instruments

       

Foreign exchange contracts (net of taxes)

   Other comprehensive income (loss)    $ 0.2      $ 0.2   

Diesel fuel contracts (net of taxes)

   Other comprehensive income (loss)      (1.0     (0.6
     

 

 

   

 

 

 

Total gain (loss) recognized in OCI

      $ (0.8   $ (0.4
     

 

 

   

 

 

 

 

          Amount of Gain (Loss)
Recognized in Income for
the Three  Months Ended
 
          June 30,
2012
     July 1,
2011
 

Derivatives not designated as hedging instruments

        

Equity derivatives

   Selling, general and administrative expenses    $ 2.6       $ 0.3   

Foreign exchange contracts

   Selling, general and administrative expenses      0.7         (0.2
     

 

 

    

 

 

 

Total gain (loss) recognized in income

      $ 3.3       $ 0.1   
     

 

 

    

 

 

 
          Amount of Gain (Loss)
Recognized in OCI from
Derivatives for

the Six Months Ended
 
    

Income Statement Location

   June 30,
2012
    July 1,
2011
 

Derivatives designated as hedging instruments

       

Foreign exchange contracts (net of taxes)

   Other comprehensive income (loss)    $ (0.3   $ (0.4

Diesel fuel contracts (net of taxes)

   Other comprehensive income (loss)      (0.6     (0.2
     

 

 

   

 

 

 

Total gain (loss) recognized in OCI

      $ (0.9   $ (0.6
     

 

 

   

 

 

 
          Amount of Gain (Loss)
Recognized in Income for the
Six Months Ended
 
          June 30,
2012
    July 1,
2011
 

Derivatives not designated as hedging instruments

       

Equity derivatives

   Selling, general and administrative expenses    $ 4.0      $ 2.3   

Foreign exchange contracts

   Selling, general and administrative expenses      0.7        0.9   
     

 

 

   

 

 

 

Total gain (loss) recognized in income

      $ 4.7      $ 3.2