Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2012

Liabilities Measured at Fair Value on Recurring Basis

We have certain assets and liabilities that are required to be recorded at fair value on a recurring basis in accordance with U.S. GAAP.

The following table summarizes those assets and liabilities measured at a fair value on a recurring basis as of June 30, 2012:

	June 30, 2012
(in millions of U.S. dollars)	Level 1		Level 2		Level 3		Netting Adjustment		Fair Value Measurements
Liabilities
Derivatives	$	—	$	0.3	$	—	$	—	$	0.3
Total Liabilities	$	—	$	0.3	$	—	$	—	$	0.3

Carrying Value and Estimated Fair Values of Outstanding Debt

The carrying amounts reflected in the Consolidated Balance Sheets for cash, receivables, payables, short-term borrowings and long-term debt approximate their respective fair values, except as otherwise indicated. The carrying values and estimated fair values of our significant outstanding debt as of June 30, 2012 and December 31, 2011 were as follows:

	June 30, 2012				December 31, 2011
(in millions of U.S. dollars)	Carrying Value		Fair Value		Carrying Value		Fair Value
8.375% senior notes due in 20171	$	215.0		233.8	$	215.0		231.4
8.125% senior notes due in 20181		375.0		409.2		375.0		404.5
Total	$	590.0	$	643.0	$	590.0	$	635.9

1 The fair values are based on the trading levels and bid/offer prices observed by a market participant and are considered Level 1 inputs.