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Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2011
Accounting Policies [Abstract]  
Schedule of Error Corrections and Prior Period Adjustments
As a result of the retrospective application of this change in accounting principle, certain amounts in the Company's year ended December 31, 2009 consolidated statement of operations were adjusted as presented below:

 
Year Ended December 31, 2009
(in millions, except per share data)
As Originally Reported
Adjustments
As Adjusted
Cost of sales
$
3,787.9

$
77.8

$
3,865.7

Operating income
257.7

(77.8
)
179.9

Provision for income taxes
(58.4
)
25.7

(32.7
)
Net income including noncontrolling interest
116.6

(52.1
)
64.5

Net income attributable to Company common shareholders
108.4

(52.1
)
56.3

Earnings per common share - basic
2.08

(1.00
)
1.08

Earnings per common share - assuming dilution
2.06

(0.99
)
1.07


The consolidated statement of cash flows for the year ended December 31, 2009 was adjusted as presented below:

 
Year Ended December 31, 2009
(in millions)
As Originally Reported
Adjustments
As Adjusted
Net income including noncontrolling interests
$
116.6

$
(52.1
)
$
64.5

Deferred income taxes
(29.9
)
(25.7
)
(55.6
)
Inventory impairment charges
(34.6
)
34.6

—

Increase in inventories
192.8

43.2

236.0

Net cash flows of operating activities
546.3

—

546.3
Schedule of The Three Levels of Inputs, Used to Measured Fair Value
The three levels of inputs that may be used to measure fair values include:
Level 1
 
Quoted prices in active markets for identical assets or liabilities. Level 1 assets and liabilities include debt and equity securities that are traded in an active exchange market, as well as certain U.S. Treasury securities that are highly liquid and are actively traded in over-the-counter markets.
 
 
 
Level 2
 
Observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 2 assets and liabilities include debt securities with quoted prices that are traded less frequently than exchange-traded instruments and derivative contracts whose value is determined using a pricing model with inputs that are observable in the market or can be derived principally from or corroborated by observable market data.
 
 
 
Level 3
 
Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Level 3 assets and liabilities include financial instruments whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation. Unobservable inputs shall be developed based on the best information available, which may include the Company’s own data.