Derivative Instruments and Risk Management

6 Months Ended

Jun. 30, 2014

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 on Other Comprehensive Income (“OCI”):

		Notional		Fair Value at
		Amount		June 30,		December 31,
	Balance Sheet Location	June 30, 2014		2014		2013
Derivatives designated as hedging instruments
Asset Derivatives
Diesel fuel contracts	Other current assets	$	2.9	$	0.2	$	0.3
Foreign exchange contracts	Other current assets	$	5.3		0.2		0.5
Total assets				$	0.4	$	0.8
Liability Derivatives
Foreign exchange contracts	Accounts payable and accrued expenses	$	43.1	$	0.9	$	0.0
Total liabilities				$	0.9	$	0.0
Derivatives not designated as hedging instruments
Asset Derivatives
Equity derivatives	Other current assets	$	26.5	$	0.3	$	2.4
Foreign exchange contracts	Other current assets	$	3.9		0.2		0.0
Total assets				$	0.5	$	2.4

		Amount of Gain (Loss) Recognized in OCI from Derivatives for the Three Months Ended
	Other Comprehensive Income (Loss) Location	June 30, 2014			June 30, 2013
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)		(0.9	)		0.3
Total gain (loss) recognized in OCI		$	(0.9	)	$	(0.1	)

		Amount of Gain (Loss) Recognized in Income for the Three Months Ended
	Income Statement Location	June 30, 2014		June 30, 2013
Derivatives not designated as hedging instruments
Equity derivatives	Selling, general and administrative expenses	$	0.3	$	(1.3	)
Total gain (loss) recognized in income		$	0.3	$	(1.3	)

		Amount of Gain (Loss) Recognized in OCI for the Six Months Ended
	Other Comprehensive Income (Loss) Location	June 30, 2014			June 30, 2013
Derivatives designated as hedging instruments
Diesel fuel contracts (net of taxes)	Other comprehensive income (loss)	$	(0.2	)	$	(0.2	)
Foreign exchange contracts (net of taxes)	Other comprehensive income (loss)		(0.7	)		0.4
Total gain (loss) recognized in OCI		$	(0.9	)	$	0.2

		Amount of Gain (Loss) Recognized in Income for the Six Months Ended
	Income Statement Location	June 30, 2014		June 30, 2013
Derivatives not designated as hedging instruments
Equity derivatives	Selling, general and administrative expenses	$	1.3	$	3.3
Total gain (loss) recognized in income		$	1.3	$	3.3

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 (observable market-based inputs or unobservable inputs that are corroborated by market data).