Derivative Instruments and Risk Management

9 Months Ended

Sep. 30, 2013

Derivative Instruments and Risk Management

8. Derivative Instruments and Risk Management

The following tables summarize the fair value of the Company’s derivative instruments and the effect of such derivative instruments on the Company’s Consolidated Statements of Income and Comprehensive Income (“OCI”):

		Notional Amount		Fair Value at
(In millions)	Balance Sheet Location	September 30, 2013		September 30, 2013		December 31, 2012
Derivatives designated as hedging instruments
Asset Derivatives
Diesel fuel contracts	Other current assets	$	4.5	$	0.2	$	0.2
Foreign exchange contracts	Other current assets	$	21.2		0.0		0.1
Total assets				$	0.2	$	0.3
Derivatives not designated as hedging instruments
Asset Derivatives
Equity derivatives	Other current assets	$	24.7	$	0.8	$	0.9
Foreign exchange contracts	Other current assets	$	3.0		0.1		0.0
Total assets				$	0.9	$	0.9

		Amount of Gain  (Loss) Recognized in OCI for the Three Months Ended
	Other Comprehensive Income (Loss) Location	September 30, 2013			September 30, 2012
Derivatives designated as hedging instruments
Diesel fuel contracts (net of taxes)	Other comprehensive income (loss)	$	0.2		$	1.1
Foreign exchange contracts (net of taxes)	Other comprehensive income (loss)		(0.4	)		(0.7	)
Total gain (loss) recognized in OCI		$	(0.2	)	$	0.4

		Amount of Gain  (Loss) Recognized in Income for the Three Months Ended
	Income Statement Location	September 30, 2013			September 30, 2012
Derivatives not designated as hedging instruments
Equity derivatives	Selling, general and administrative expenses	$	(0.7	)	$	(0.7	)
Foreign exchange contracts	Selling, general and administrative expenses		(0.1	)		1.7
Total gain (loss) recognized in income		$	(0.8	)	$	1.0

		Amount of Gain  (Loss) Recognized in OCI for the Nine Months Ended
	Other Comprehensive Income (Loss) Location	September 30, 2013		September 30, 2012
Derivatives designated as hedging instruments
Diesel fuel contracts (net of taxes)	Other comprehensive income (loss)	$	0.0	$	0.4
Foreign exchange contracts (net of taxes)	Other comprehensive income (loss)		0.0		(1.0	)
Total gain (loss) recognized in OCI		$	0.0	$	(0.6	)

		Amount of Gain  (Loss) Recognized in Income for the Nine Months Ended
	Income Statement Location	September 30, 2013			September 30, 2012
Derivatives not designated as hedging instruments
Equity derivatives	Selling, general and administrative expenses	$	2.6		$	3.3
Foreign exchange contracts	Selling, general and administrative expenses		(0.1	)		1.7
Total gain (loss) recognized in income		$	2.5		$	5.0

The notional amount of a derivative instrument is the nominal or face amount used to calculate payments made on that instrument. The fair values of the derivative instruments disclosed above were measured based on Level 2 inputs (as defined under Note 7, “Fair Value Measurements”).