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Derivative Instruments (Tables)
 3 Months Ended
Apr. 01, 2017
Derivative [Line Items]  
Schedule Of Fair Values Of Derivative Instruments
Fair values of derivative instruments as of April 1, 2017 and December 31, 2016 were (in millions):

 
April 1, 2017
 
Prepaid
Expenses and Other Current Assets
 
Other
Noncurrent
Assets
 
Current Hedging
Obligations

 
Noncurrent Hedging
Obligations
Designated as Hedging Instruments:
 
 
 
 
 
 
 
Interest Rate Swap Contracts
$
—

 
$
—

 
$
2.2

 
$
—

Currency Contracts
4.5

 
2.6

 
22.6

 
4.0

Commodity Contracts
4.5

 
—

 
0.3

 
—

Not Designated as Hedging Instruments:
 
 
 
 
 
 
 
Currency Contracts
4.5

 
—

 
1.0

 
—

Commodity Contracts
2.9

 
—

 
—

 
—

Total Derivatives
$
16.4

 
$
2.6

 
$
26.1

 
$
4.0

 
 
December 31, 2016
 
Prepaid
Expenses and Other Current Assets
 
Other
Noncurrent
Assets
 
Current Hedging
Obligations

 
Noncurrent Hedging
Obligations
Designated as Hedging Instruments:
 
 
 
 
 
 
 
Interest Rate Swap Contracts
$
—

 
$
—

 
$
3.3

 
$
—

Currency Contracts
1.3

 
0.4

 
39.7

 
17.6

Commodity Contracts
4.7

 
—

 
—

 
—

Not designated as Hedging Instruments:
 
 
 
 
 
 
 
Currency Contracts
1.5

 
—

 
6.0

 
—

Commodity Contracts
2.6

 
—

 
—

 
—

Total Derivatives
$
10.1

 
$
0.4

 
$
49.0

 
$
17.6
Schedule Of Derivatives Under Enforceable Master Netting Agreements
The following table presents the derivative assets and derivative liabilities presented on a net basis under enforceable master netting agreements (in millions):
 
April 1, 2017
 
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
$
9.0

 
$
(4.9
)
 
$
4.1

Derivative Commodity Contracts
7.4

 
(0.3
)
 
7.1

Other Noncurrent Assets:
 
 
 
 
 
Derivative Currency Contracts
2.6

 
(1.6
)
 
1.0

Current Hedging Obligations:
 
 
 
 
 
Derivative Currency Contracts
23.6

 
(4.9
)
 
18.7

Derivative Commodity Contracts
0.3

 
(0.3
)
 
—

Noncurrent Hedging Obligations:
 
 
 
 
 
Derivative Currency Contracts
4.0

 
(1.6
)
 
2.4

 
December 31, 2016
 
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
$
2.8

 
$
(1.7
)
 
$
1.1

Derivative Commodity Contracts
7.3

 
—

 
7.3

Other Noncurrent Assets:
 
 
 
 
 
Derivative Currency Contracts
0.4

 
(0.2
)
 
0.2

Current Hedging Obligations:
 
 
 
 
 
Derivative Currency Contracts
45.7

 
(1.7
)
 
44.0

Noncurrent Hedging Obligations:
 
 
 
 
 
Derivative Currency Contracts
17.6

 
(0.2
)
 
17.4
Designated as Hedging Instruments:  
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) was as follows (in millions):

Derivatives Designated as Cash Flow Hedging Instruments (in millions):
 
 
Three Months Ended
 
April 1, 2017
 
April 2, 2016
 
Commodity
Forwards
 
Currency
Forwards
 
Interest
Rate
Swaps
 
Total
 
Commodity
Forwards
 
Currency
Forwards
 
Interest
Rate
Swaps
 
Total
Gain (Loss) Recognized in Other Comprehensive Income (Loss)
$
2.3

 
$
29.0

 
$
—

 
$
31.3

 
$
1.4

 
$
2.6

 
$
(0.4
)
 
$
3.6

Amounts Reclassified from Other Comprehensive Income (Loss):
 
 
 
 
 
 
 
 


 


 


 


Gain recognized in Net Sales
—

 
0.1

 
—

 
0.1

 
—

 
—

 
—

 
—

 Gain (Loss) Recognized in Cost of Sales
0.9

 
(11.6
)
 
—

 
(10.7
)
 
(5.4
)
 
(6.5
)
 
—

 
(11.9
)
Loss Recognized in Interest Expense
—

 
—

 
(1.1
)
 
(1.1
)
 
—

 
—

 
(1.2
)
 
(1.2
)
Not designated as Hedging Instruments:  
Derivative [Line Items]  
Schedule Of Cash Flow Hedging Instruments
The ineffective portion of hedging instruments recognized during the three months ended April 1, 2017 and April 2, 2016, respectively, was immaterial.
Derivatives Not Designated as Cash Flow Hedging Instruments (in millions):
 
Three Months Ended
 
April 1, 2017
 
April 2, 2016
 
Commodity Forwards
 
Currency Forwards
 
Commodity Forwards
 
Currency Forwards
Gain Recognized in Cost of Sales
$
1.6

 
$
—

 
$
—

 
$
0.9

Gain Recognized in Operating Expenses
—

 
4.4

 
0.1

 
—
Currency Forward Contracts  
Derivative [Line Items]  
Schedule Of Notional Amounts Of Forward Contracts
As of April 1, 2017, the Company had the following currency forward contracts outstanding (with maturities extending through October 2019) to hedge forecasted foreign currency cash flows (in millions):
 
Notional
Amount (in US Dollars)
Chinese Renminbi
$
322.4

Mexican Peso
238.0

Euro
35.3

Indian Rupee
44.8

Canadian Dollar
39.7

Australian Dollar
14.0

Great Britain Pound
6.3

Thai Baht
5.4
Commodity Forward Contracts  
Derivative [Line Items]  
Schedule Of Notional Amounts Of Forward Contracts
As of April 1, 2017, the Company had the following commodity forward contracts outstanding (with maturities extending through June 2018) to hedge forecasted purchases of commodities (notional amounts expressed in terms of the dollar value of the hedged item (in millions):
 
Notional
Amount
Copper
$
59.8

Aluminum
6.2