Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2012

Derivative Financial Instruments

Outstanding commodity and currency forward contracts that were entered into to hedge forecasted transactions

	Units Hedged
Commodity	September 30, 2012	December 31, 2011		Type
Aluminum	1,501	1,254	MT	Cash Flow
Copper	513	684	MT	Cash Flow
Natural Gas	227,127	346,902	MMBtu	Cash Flow
Steel	10,758	8,231	Tons	Cash Flow
	Units Hedged
Short Currency	September 30, 2012	December 31, 2011	Type
Canadian Dollar	7,681,869	25,083,644	Cash Flow
European Euro	80,882,410	67,565,453	Cash Flow
South Korean Won	2,552,218,195	3,224,015,436	Cash Flow
Singapore Dollar	4,800,000	4,800,000	Cash Flow
United States Dollar	2,701,939	5,538,777	Cash Flow
Chinese Renminbi	59,595,280	111,177,800	Cash Flow

Schedule of currency forward contracts not designated as hedges and location of gain or loss in Statement of Operations

	Units Hedged
Short Currency	September 30, 2012	December 31, 2011	Recognized Location	Purpose
British Pound	7,100,000	—	Other income, net	Accounts Payable and Receivable Settlement
Euro	35,378,670	33,150,213	Other income, net	Accounts Payable and Receivable Settlement
United States Dollar	—	6,000,000	Other income, net	Accounts Payable and Receivable Settlement
Australian Dollar	1,988,000	7,569,912	Other income, net	Accounts Payable and Receivable Settlement

Schedule of the fair value of outstanding derivative contracts recorded as assets in the accompanying condensed consolidated balance sheet

		ASSET DERIVATIVES
		September 30, 2012		December 31, 2011
(in millions)	Balance Sheet Location	Fair Value
Derivatives designated as hedging instruments
Foreign exchange contracts	Other current assets	$	1.3	$	0.6
Commodity contracts	Other current assets	0.1		—
Interest rate swap contracts: Fixed-to-float	Other non-current assets	—		0.5
Interest rate cap contracts	Other non-current assets	0.7		0.3
Total derivatives designated as hedging instruments		$	2.1	$	1.4

		ASSET DERIVATIVES
		September 30, 2012		December 31, 2011
(in millions)	Balance Sheet Location	Fair Value
Derivatives NOT designated as hedging instruments
Foreign exchange contracts	Other current assets	$	0.4	$	0.1
Total derivatives NOT designated as hedging instruments		$	0.4	$	0.1
Total asset derivatives		$	2.5	$	1.5

Schedule of the fair value of outstanding derivative contracts recorded as liabilities in the accompanying condensed consolidated balance sheet

		LIABILITY DERIVATIVES
		September 30, 2012		December 31, 2011
(in millions)	Balance Sheet Location	Fair Value
Derivatives designated as hedging instruments
Foreign exchange contracts	Accounts payable and accrued expenses	$	1.7	$	5.2
Commodity contracts	Accounts payable and accrued expenses	1.3		2.5
Total derivatives designated as hedging instruments		$	3.0	$	7.7

		LIABILITY DERIVATIVES
		September 30, 2012		December 31, 2011
(in millions)	Balance Sheet Location	Fair Value
Derivatives NOT designated as hedging instruments
Foreign exchange contracts	Accounts payable and accrued expenses	$	0.2	$	1.6
Interest rate swap contracts: Float-to-fixed	Accounts payable and accrued expenses	2.5		9.5
Total derivatives NOT designated as hedging instruments		$	2.7	$	11.1
Total liability derivatives		$	5.7	$	18.8

Schedule of the effect of derivative instruments on the condensed consolidated statement of operations for gains or losses initially recognized in Other Comprehensive Income (OCI) in the Condensed Consolidated Balance Sheet

	Amount of Gain or (Loss) on Derivative Recognized in OCI (Effective Portion, net of tax)					Location of Gain or (Loss) Reclassified from Accumulated	Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)
Derivatives in Cash Flow Hedging Relationships (in millions)	September 30, 2012		September 30, 2011			OCI into Income (Effective Portion)	September 30, 2012			September 30,  2011
Foreign exchange contracts	$	2.7	$	(6.1	)	Cost of sales	$	(3.6	)	$	0.7
Interest rate swap & cap contracts	—		0.2			Interest expense	—			—
Commodity contracts	0.9		(2.0		)	Cost of sales	(0.8		)	(0.1		)
Total	$	3.6	$	(7.9	)		$	(4.4	)	$	0.6

Derivatives	Location of Gain or (Loss) on Derivative Recognized in Income (Ineffective Portion and Amount Excluded from	Amount of Gain or (Loss) on Derivative Recognized in Income (Ineffective Portion and Amount Excluded from Effectiveness Testing)
Relationships (in millions)	Effectiveness Testing)	September 30, 2012			September 30, 2011
Commodity contracts	Cost of sales	$	(0.1	)	$	(0.1	)
Total		$	(0.1	)	$	(0.1	)

Derivatives Not Designated as	Location of Gain or (Loss) Recognized on Derivative in	Amount of Gain or (Loss) on Derivative Recognized in Income
Hedging Instruments (in millions)	Income	September 30, 2012		September 30, 2011
Foreign exchange contracts	Other income	$	0.3	$	1.5
Interest rate swaps	Other income	2.3		2.4
Total		$	2.6	$	3.9

	Amount of Gain or (Loss) on Derivative Recognized in OCI (Effective Portion, net of tax)						Location of Gain or (Loss) Reclassified from Accumulated	Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)
Derivatives in Cash Flow Hedging Relationships (in millions)	September 30, 2012			September 30, 2011			OCI into Income (Effective Portion)	September 30, 2012			September 30, 2011
Foreign exchange contracts	$	2.5		$	(4.2	)	Cost of sales	$	(6.9	)	$	(4.2	)
Interest rate swap & cap contracts	(0.1		)	1.3			Interest expense	—			(7.9		)
Commodity contracts	0.7			(2.3		)	Cost of sales	(2.2		)	0.8
Total	$	3.1		$	(5.2	)		$	(9.1	)	$	(11.3	)

Derivatives	Location of Gain or (Loss) Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from	Amount of Gain or (Loss) Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing)
Relationships (in millions)	Effectiveness Testing)	September 30, 2012			September 30, 2011
Commodity contracts	Cost of sales	$	(0.2	)	$	(0.1	)
Total		$	(0.2	)	$	(0.1	)

Derivatives Not Designated as	Location of Gain or (Loss) Recognized in Income on	Amount of Gain or (Loss) Recognized in Income on Derivative
Hedging Instruments (in millions)	Derivative	September 30, 2012			September 30, 2011
Foreign exchange contracts	Other income	$	(1.2	)	$	(1.2	)
Interest rate swaps	Other income	6.9			$	2.4
Total		$	5.7		$	1.2

Schedule of Fair Market Value designated derivative instruments on the condensed consolidated statement of operations for gains or losses recognized through income

Derivatives Designated as Fair Market Value	Location of Gain or (Loss) on Derivative	Amount of Gain or (Loss) on Derivative Recognized in Income
Instruments under ASC 815 (in millions)	Recognized in Income	September 30, 2012		September 30, 2011
Interest rate swap contracts	Interest expense	$	—	$	7.1
Total		$	—	$	7.1

Derivatives Designated as Fair Market Value	Location of Gain or (Loss) on Derivative	Amount of Gain or (Loss) on Derivative Recognized in Income
Instruments under ASC 815 (in millions)	Recognized in Income	September 30, 2012		September 30, 2011
Interest rate swap contracts	Interest expense	$	11.5	$	18.8
Total		$	11.5	$	18.8