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Derivative Instruments (Tables)
6 Months Ended 12 Months Ended
Jul. 02, 2011
Jan. 01, 2011
Schedule Of Fair Values Of Derivative Instruments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

July 2, 2011

 

 

 

Prepaid

 

 

Other Noncurrent

 

 

Accrued

 

 

Hedging

 

 

 

Expenses

 

 

Assets

 

 

Expenses

 

 

Obligations

 

Designated as hedging instruments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate swap contracts

 

$

 

 

$

 

 

$

 

 

$

38.4

 

Foreign exchange contracts

 

 

9.4

 

 

 

2.6

 

 

 

0.4

 

 

 

 

 

Commodity contracts

 

 

14.6

 

 

 

0.2

 

 

 

0.1

 

 

 

 

 

                               

Not designated as hedging instruments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Foreign exchange contracts

 

 

 

 

 

 

 

 

0.3

 

 

 

 

Commodity contracts

 

 

0.1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Derivatives:

 

$

24.1

 

 

$

2.8

 

 

$

0.8

 

 

$

38.4

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

January 1, 2011

 

 

 

Prepaid

 

 

Other Noncurrent

 

 

Accrued

 

 

Hedging

 

 

 

Expenses

 

 

Assets

 

 

Expenses

 

 

Obligations

 

Designated as hedging instruments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate swap contracts

 

$

 

 

$

 

 

$

 

 

$

39.1

 

Foreign exchange contracts

 

 

7.1

 

 

 

1.4

 

 

 

0.1

 

 

 

0.1

 

Commodity contracts

 

 

24.7

 

 

 

4.2

 

 

 

0.1

 

 

 

 

 

                               

Not designated as hedging instruments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Foreign exchange contracts

 

 

0.2

 

 

 

 

 

 

 

 

 

 

Commodity contracts

 

 

0.2

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Derivatives:

 

$

32.2

 

 

$

5.6

 

 

$

0.2

 

 

$

39.2

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Designated As Hedging Instruments [Member]
   
Schedule Of Cash Flow Hedging Instruments

     Three Months Ended
July 2, 2011
    Three Months Ended
July 3, 2010
 
     Commodity
Forwards
     Currency
Forwards
     Interest
Rate
Swaps
    Total     Commodity
Forwards
    Currency
Forwards
    Interest
Rate
Swaps
    Total  

Gain (Loss) recognized in Other Comprehensive Income (Loss)

   $ 1.7       $ 3.3       $ (6.4   $ (1.4   $ (8.9   $ (6.1   $ (12.7   $ (27.7

Amounts reclassified from Other Comprehensive Income (Loss) were:

                  

Gain recognized in Net Sales

     —           0.2         —        $ 0.2        —          —          —        $ —     

Gain (Loss) recognized in Cost of Sales

     8.9         2.4         —        $ 11.3        2.2        (0.5     —        $ 1.7   

Loss recognized in Interest Expense

     —           —           (3.2   $ (3.2     —          —          (2.8   $ (2.8

Derivatives Designated as Cash Flow Hedging Instruments

 

     Six Months Ended
July 2, 2011
    Six Months Ended
July 3, 2010
 
     Commodity
Forwards
    Currency
Forwards
     Interest
Rate
Swaps
    Total     Commodity
Forwards
    Currency
Forwards
    Interest
Rate
Swaps
    Total  

Gain (Loss) recognized in Other Comprehensive Income (Loss)

   $ (0.2   $ 8.6       $ (5.7   $ 2.7      $ (4.9   $ 1.8      $ (16.9   $ (20.0

Amounts reclassified from Other Comprehensive Income (Loss) were:

                 

Gain (Loss) recognized in Net Sales

     —          0.4         —        $ 0.4        —          (0.1     —        $ (0.1

Gain (Loss) recognized in Cost of Sales

     17.1        2.9         —        $ 20.0        5.5        (1.7     —        $ 3.8   

Loss recognized in Interest Expense

     —          —           (6.4   $ (6.4     —          —          (6.0   $ (6.0
 
Not Designated As Hedging Instruments [Member]
   
Schedule Of Cash Flow Hedging Instruments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

Three Months Ended

 

Six Months Ended

 

Six Months Ended

 

 

 

July 2, 2011

 

July 3, 2010

 

July 2, 2011

 

July 3, 2010

 

 

 

Commodity

 

 

Currency

 

 

 

 

 

 

Commodity

 

 

Currency

 

 

 

 

 

 

Commodity

 

 

Currency

 

 

 

 

 

 

Commodity

 

 

Currency

 

 

 

 

 

 

Forwards

 

 

Forwards

 

 

Total

 

 

Forwards

 

 

Forwards

 

 

Total

 

 

Forwards

 

 

Forwards

 

 

Total

 

 

Forwards

 

 

Forwards

 

 

Total

 

Loss recognized in Cost of Sales

 

$

(0.2

)

 

$

(0.6

)

 

$

(0.8

)

 

$

(0.5

)

 

$

(0.1

)

 

$

(0.6

)

 

$

(0.2

)

 

$

(0.9

)

 

$

(1.1

)

 

$

(0.6

)

 

$

(0.1

)

 

$

(0.7

)

 
Commodity Forward Contracts [Member]
   
Schedule Of Notional Amounts Of Forward Contracts

 

 

 

 

 

 

 

Notional Amount

 

Copper

 

$

145.0

 

Aluminum

 

 

3.0

 

Zinc

 

 

0.2

 

Natural Gas

 

 

0.5

 

 
Currency Forward Contracts [Member]
   
Schedule Of Notional Amounts Of Forward Contracts

 

 

 

 

 

 

 

Notional Amount

 

Mexican Peso

 

$

95.7

 

Indian Rupee

 

 

36.8

 

Chinese Renminbi

 

 

10.5

 

Australian Dollar

 

 

9.5

 

Thai Baht

 

 

3.6