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Derivative Instruments and Risk Management (Tables)
3 Months Ended
Mar. 31, 2014
Fair Value of Derivative Instruments

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 on Other Comprehensive Income (“OCI”):

 

          Notional      Fair Value at  
          Amount      March 31,      December 31,  
     Balance Sheet Location    March 31, 2014      2014      2013  

Derivatives designated as hedging instruments

           

Asset Derivatives

           

Diesel fuel contracts

   Other current assets    $ 4.2       $ 0.1       $ 0.3   

Foreign exchange contracts

   Other current assets    $ 38.9         0.6         0.5   
        

 

 

    

 

 

 

Total assets

         $ 0.7       $ 0.8   
        

 

 

    

 

 

 

Derivatives not designated as hedging instruments

           

Asset Derivatives

           

Equity derivatives

   Other current assets    $ 26.4       $ 0.1       $ 2.4   
        

 

 

    

 

 

 

Total assets

         $ 0.1       $ 2.4   
        

 

 

    

 

 

 

 

         Amount of Gain (Loss)
Recognized in OCI from Derivatives
for the Three Months Ended
 
    

Other Comprehensive Income (Loss) Location

  March 31,
2014
    March 31,
2013
 

Derivatives designated as hedging instruments

      

Diesel fuel contracts (net of taxes)

   Other comprehensive income (loss)   $ (0.2   $ 0.1   

Foreign exchange contracts (net of taxes)

   Other comprehensive income (loss)     0.2        0.2   
    

 

 

   

 

 

 

Total gain (loss) recognized in OCI

     $ 0.0      $ 0.3   
    

 

 

   

 

 

 

 

         Amount of Gain (Loss)
Recognized in Income
for the Three Months Ended
 
    

Income Statement Location

  March 31,
2014
    March 31,
2013
 

Derivatives not designated as hedging instruments

      

Equity derivatives

   Selling, general and administrative expenses   $                   1.0      $                 4.6   
    

 

 

   

 

 

 

Total gain (loss) recognized in income

     $ 1.0      $ 4.6