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Derivative Instruments (Tables)
 3 Months Ended
Mar. 30, 2013
Derivative [Line Items]  
Schedule of Fair Values Of Derivative Instruments
Fair values of derivative instruments as of March 30, 2013 and December 29, 2012 were (in millions):

 
March 30, 2013
 
Prepaid
Expenses and Other Current Assets
 
Other
Noncurrent
Assets
 
Hedging
Obligations
(current)
 
Hedging
Obligations
Designated as hedging instruments:
 
 
 
 
 
 
 
Interest rate swap contracts
$
—

 
$
—

 
$
—

 
$
32.0

Foreign exchange contracts
13.6

 
3.9

 
2.2

 
0.2

Commodity contracts
0.4

 
—

 
6.2

 
—

Not designated as hedging instruments:
 
 
 
 
 
 
 
Foreign exchange contracts
0.2

 
—

 
—

 
—

Commodity contracts
0.6

 
—

 
0.7

 
—

Total Derivatives
$
14.8

 
$
3.9

 
$
9.1

 
$
32.2

 
 
December 29, 2012
 
Prepaid
Expenses and Other Current Assets
 
Other
Noncurrent
Assets
 
Hedging
Obligations
(current)
 
Hedging
Obligations
Designated as hedging instruments:
 
 
 
 
 
 
 
Interest rate swap contracts
$
—

 
$
—

 
$
—

 
$
35.4

Foreign exchange contracts
6.8

 
2.3

 
4.6

 
0.3

Commodity contracts
3.6

 
0.2

 
1.2

 
—

Not designated as hedging instruments:
 
 
 
 
 
 
 
Commodity contracts
0.6

 
—

 
0.5

 
—

Total Derivatives
$
11.0

 
$
2.5

 
$
6.3

 
$
35.7
Derivatives Offsetting Disclosures
The Company's commodity and currency derivative contracts are subject to master netting agreements with the respective counterparties which allow the Company to net settle transactions with a single net amount payable by one party to another party. The Company has elected to present the derivative assets and derivative liabilities on the Condensed Consolidated Balance Sheets on a gross basis for the periods ended March 30, 2013 and December 29, 2012.
The following table presents the derivative assets and derivative liabilities presented on a net basis under enforceable master netting agreements.
 
March 30, 2013
 
Gross Amounts as Presented in the Condensed Consolidated Balance Sheet
 
Derivative Contract Amounts Subject to Right of Offset
 
Derivatives, Net
Prepaid Expenses and Other Current Assets:
 
 
 
 
 
Derivative Currency Contracts
$
13.8

 
(0.3
)
 
13.5

Derivative Commodity Contracts
1.0

 
(0.4
)
 
0.6
Other Noncurrent Assets:
 
 
 
 
 
Derivative Currency Contracts
3.9

 
—

 
3.9

Hedging Obligations Current:
 
 
 
 
 
Derivative Currency Contracts
2.2

 
(0.4
)
 
1.8

Derivative Commodity Contracts
6.9

 
(0.3
)
 
6.6

Hedging Obligations:
 
 
 
 
 
Derivative Currency Contracts
0.2

 
—

 
0.2

 
December 29, 2012
 
Gross Amounts as Presented in the Condensed Consolidated Balance Sheet
 
Derivative Contract Amounts Subject to Right of Offset
 
Derivatives, Net
Prepaid Expenses and Other Current Assets:
 
 
 
 
 
Derivative Currency Contracts
6.8

 
(1.5
)
 
5.3

Derivative Commodity Contracts
4.2

 
(1.3
)
 
2.9

Other Noncurrent Assets:
 
 
 
 
 
Derivative Currency Contracts
2.3

 
—

 
2.3

Derivative Commodity Contracts
0.2

 
—

 
0.2

Hedging Obligations Current:
 
 
 
 
 
Derivative Currency Contracts
4.6

 
(1.6
)
 
3.0

Derivative Commodity Contracts
1.7

 
(1.2
)
 
0.5

Hedging Obligations:
 
 
 
 
 
Derivative Currency Contracts
0.3

 
—

 
0.3
Commodity Forward Contracts [Member]
  
Derivative [Line Items]  
Schedule of Notional Amounts Of Forward Contracts
As of March 30, 2013, the Company had outstanding the following commodity forward contracts (with maturities extending through June 2014) to hedge forecasted purchases of commodities (notional amounts expressed in terms of the dollar value of the hedged item in millions):
 
Notional
Amount
Copper
$
154.8

Aluminum
8.8
Currency Forward Contracts [Member]
  
Derivative [Line Items]  
Schedule of Notional Amounts Of Forward Contracts
As of March 30, 2013, the Company had outstanding the following currency forward contracts (with maturities extending through December 2015) to hedge forecasted foreign currency cash flows (in millions):
 
Notional
Amount
Mexican Peso
$
168.8

Chinese Renminbi
86.3

Indian Rupee
38.6

Thai Baht
12.8

Euro
11.4

Australian Dollar
5.7
Derivative Designated As Cash Flow Hedging Instruments [Member]
  
Derivative [Line Items]  
Schedule of Cash Flow Hedging Instruments
The effect of derivative instruments on the Condensed Consolidated Statements of Comprehensive Income (pre-tax) for the three months ended March 30, 2013 and March 31, 2012, was (in millions):

Derivatives Designated as Cash Flow Hedging Instruments
 
 
Three Months Ended
 
March 30, 2013
 
March 31, 2012
 
Commodity
Forwards
 
Currency
Forwards
 
Interest
Rate
Swaps
 
Total
 
Commodity
Forwards
 
Currency
Forwards
 
Interest
Rate
Swaps
 
Total
Gain (Loss) recognized in Other Comprehensive Income (Loss)
$
(7.6
)
 
$
13.7

 
$
0.2

 
$
6.3

 
$
15.3

 
$
41.4

 
$
(1.2
)
 
$
55.5

Amounts reclassified from Other Comprehensive Income (Loss):
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Loss recognized in Net Sales
—

 
(0.2
)
 
—

 
(0.2
)
 
—

 
(0.3
)
 
—

 
(0.3
)
Gain (Loss) recognized in Cost of Sales
0.6

 
0.8

 
—

 
1.4

 
(5.8
)
 
0.1

 
—

 
(5.7
)
Loss recognized in Interest Expense
—

 
—

 
(3.2
)
 
(3.2
)
 
—

 
—

 
(3.4
)
 
(3.4
)
Derivative Not Designated As Cash Flow Hedging Instruments [Member]
  
Derivative [Line Items]  
Schedule of Cash Flow Hedging Instruments
Derivatives Not Designated as Cash Flow Hedging Instruments
 
Three Months Ended
 
March 30,
2013
 
March 31,
2012
 
Commodity Forwards
 
Currency Forwards
 
Commodity Forwards
 
Currency Forwards
Loss recognized in Net Sales
$
—

 
$
—

 
$
—

 
$
(0.3
)
Gain (Loss) recognized in Cost of Sales
(0.2
)
 
0.2

 
—

 
0.1