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Derivative Instruments (Tables)
 9 Months Ended
Sep. 27, 2014
Derivative [Line Items]  
Schedule of Fair Values Of Derivative Instruments
Fair values of derivative instruments as of September 27, 2014 and December 28, 2013 were (in millions):

 
September 27, 2014
 
Prepaid
Expenses and Other Current Assets
 
Other
Noncurrent
Assets
 
Hedging
Obligations
(current)
 
Hedging
Obligations
Designated as hedging instruments:
 
 
 
 
 
 
 
Interest rate swap contracts
$
—

 
$
—

 
$
—

 
$
12.6

Currency contracts
3.3

 
0.5

 
2.4

 
1.3

Commodity contracts
0.2

 
—

 
3.6

 
0.1

Not designated as hedging instruments:
 
 
 
 
 
 
 
Currency contracts
0.3

 
—

 
0.7

 
—

Commodity contracts
1.1

 
—

 
1.1

 
—

Total Derivatives
$
4.9

 
$
0.5

 
$
7.8

 
$
14.0

 
 
December 28, 2013
 
Prepaid
Expenses and Other Current Assets
 
Other
Noncurrent
Assets
 
Hedging
Obligations
(current)
 
Hedging
Obligations
Designated as hedging instruments:
 
 
 
 
 
 
 
Interest rate swap contracts
$
—

 
$
—

 
$
5.7

 
$
16.1

Currency contracts
8.4

 
0.7

 
3.0

 
0.7

Commodity contracts
4.0

 
—

 
1.7

 
—

Not designated as hedging instruments:
 
 
 
 
 
 
 
Currency contracts
—

 
—

 
0.1

 
—

Commodity contracts
0.7

 
—

 
0.8

 
—

Total Derivatives
$
13.1

 
$
0.7

 
$
11.3

 
$
16.8
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 September 27, 2014 and December 28, 2013.
The following table presents the derivative assets and derivative liabilities presented on a net basis under enforceable master netting agreements (in millions):
 
September 27, 2014
 
Gross Amounts as Presented in the Condensed Consolidated Balance Sheet
 
Derivative Contract Amounts Subject to Right of Offset
 
Derivative Contracts as Presented on a Net Basis
Prepaid Expenses and Other Current Assets:
 
 
 
 
 
Derivative Currency Contracts
$
3.6

 
$
(1.7
)
 
$
1.9

Derivative Commodity Contracts
1.3

 
(1.2
)
 
0.1

Other Noncurrent Assets:
 
 
 
 
 
Derivative Currency Contracts
0.5

 
(0.4
)
 
0.1

Hedging Obligations Current:
 
 
 
 
 
Derivative Currency Contracts
3.1

 
(1.7
)
 
1.4

Derivative Commodity Contracts
4.7

 
(1.2
)
 
3.5

Hedging Obligations:
 
 
 
 
 
Derivative Currency Contracts
1.3

 
(0.4
)
 
0.9

Derivative Commodity Contracts
0.1

 
—

 
0.1

 
December 28, 2013
 
Gross Amounts as Presented in the Condensed Consolidated Balance Sheet
 
Derivative Contract Amounts Subject to Right of Offset
 
Derivative Contracts as Presented on a Net Basis
Prepaid Expenses and Other Current Assets:
 
 
 
 
 
Derivative Currency Contracts
$
8.4

 
$
(0.6
)
 
$
7.8

Derivative Commodity Contracts
4.7

 
(2.4
)
 
2.3

Other Noncurrent Assets:
 
 
 
 
 
Derivative Currency Contracts
0.7

 
(0.2
)
 
0.5

Hedging Obligations Current:
 
 
 
 
 
Derivative Currency Contracts
3.1

 
(0.6
)
 
2.5

Derivative Commodity Contracts
2.5

 
(2.4
)
 
0.1

Hedging Obligations:
 
 
 
 
 
Derivative Currency Contracts
0.7

 
(0.2
)
 
0.5
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 Income and Comprehensive Income (pre-tax) for the three and nine months ended September 27, 2014 and September 28, 2013, respectively, was (in millions):

Derivatives Designated as Cash Flow Hedging Instruments
 
 
Three Months Ended
 
September 27, 2014
 
September 28, 2013
 
Commodity
Forwards
 
Currency
Forwards
 
Interest
Rate
Swaps
 
Total
 
Commodity
Forwards
 
Currency
Forwards
 
Interest
Rate
Swaps
 
Total
Gain (Loss) recognized in Other Comprehensive Income (Loss)
$
(3.2
)
 
$
(3.9
)
 
$
1.2

 
$
(5.9
)
 
$
10.3

 
$
(2.4
)
 
$
(0.9
)
 
$
7.0

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

 
—

 
—

 
—

 
—

 
(0.1
)
 
—

 
(0.1
)
Gain (Loss) recognized in Cost of Sales
(1.6
)
 
2.8

 
—

 
1.2

 
(4.9
)
 
1.7

 
—

 
(3.2
)
Loss recognized in Interest Expense
—

 
—

 
(2.4
)
 
(2.4
)
 
—

 
—

 
(3.2
)
 
(3.2
)

 
Nine Months Ended
 
September 27, 2014
 
September 28, 2013
 
Commodity
Forwards
 
Currency
Forwards
 
Interest
Rate
Swaps
 
Total
 
Commodity
Forwards
 
Currency
Forwards
 
Interest
Rate
Swaps
 
Total
Gain (Loss) recognized in Other Comprehensive Income (Loss)
(10.0
)
 
0.6

 
0.2

 
(9.2
)
 
(12.5
)
 
3.9

 
0.8

 
(7.8
)
Amounts reclassified from Other Comprehensive Income (Loss):
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Loss recognized in Net Sales
—

 
—

 
—

 
—

 
—

 
(0.6
)
 
—

 
(0.6
)
Gain (Loss) recognized in Cost of Sales
(7.1
)
 
6.5

 
—

 
(0.6
)
 
(4.5
)
 
5.8

 
—

 
1.3

Loss recognized in Interest Expense
—

 
—

 
(8.9
)
 
(8.9
)
 
—

 
—

 
(9.6
)
 
(9.6
)
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 (in millions):
 
Three Months Ended
 
September 27, 2014
 
September 28, 2013
 
Commodity Forwards
 
Currency Forwards
 
Commodity Forwards
 
Currency Forwards
(Loss) Gain recognized in Cost of Sales
$
—

 
$
(0.3
)
 
$
0.1

 
$
0.2


 
Nine Months Ended
 
September 27, 2014
 
September 28, 2013
 
Commodity Forwards
 
Currency Forwards
 
Commodity Forwards
 
Currency Forwards
(Loss) Gain recognized in Cost of Sales
$
0.1

 
$
(0.2
)
 
$
(0.1
)
 
$
0.6
Commodity Forward Contracts [Member]
  
Derivative [Line Items]  
Schedule of Notional Amounts Of Forward Contracts
As of September 27, 2014, the Company had outstanding the following commodity forward contracts (with maturities extending through December 2015) to hedge forecasted purchases of commodities (notional amounts expressed in terms of the dollar value of the hedged item in millions):
 
Notional
Amount
Copper
$
111.2

Aluminum
5.1
Currency Forward Contracts [Member]
  
Derivative [Line Items]  
Schedule of Notional Amounts Of Forward Contracts
As of September 27, 2014, the Company had outstanding the following currency forward contracts (with maturities extending through March 2017) to hedge forecasted foreign currency cash flows (in millions):
 
Notional
Amount
Mexican Peso
$
238.0

Chinese Renminbi
166.9

Indian Rupee
33.7

Euro
26.1

Thai Baht
5.0

Australian Dollar
2.9