Derivative and Other Hedging Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2013

Fair Value of Derivative Financial Instruments

The following table presents the fair value of derivative financial instruments as of March 31, 2013 and December 31, 2012:

	March 31, 2013				December 31, 2012
	Fair Value of Derivatives				Fair Value of Derivatives
(in millions)	Asset (a)		Liability (a)		Asset (a)		Liability (a)
Derivatives designated as effective hedges:
Cash flow hedges:
Interest rate swaps	$	—	$	11.7	$	—	$	12.4
Foreign currency contracts		14.9		2.3		9.0		4.2
Subtotal		14.9		14.0		9.0		16.6
Derivatives not designated as effective hedges:
Foreign currency contracts		6.3		1.0		1.2		2.0
Commodity contracts		0.1		0.1		0.1		0.2
Subtotal		6.4		1.1		1.3		2.2
Total	$	21.3	$	15.1	$	10.3	$	18.8
(a)    Consolidated balance sheet location:
Asset: Other current and non-current assets
Liability: Other current and non-current liabilities

Gain and Loss Activity Related to Derivative Financial Instruments Designated as Effective Hedges

The following table presents gain and loss activity (on a pretax basis) for the three months ended March 31, 2013 and 2012 related to derivative financial instruments designated as effective hedges:

	Three Months Ended March 31, 2013								Three Months Ended March 31, 2012
	Gain/(Loss)								Gain/(Loss)
(in millions)	Recognized in OCI  (a) (effective portion)		Reclassified from  AOCI to Income			Recognized in Income  (b)			Recognized in OCI  (a) (effective portion)			Reclassified from  AOCI to Income			Recognized in Income (b)
Derivatives designated as effective hedges:
Cash flow hedges:
Interest rate swaps	$	0.7	$	—		$	—		$	(0.5	)	$	—		$	—
Foreign currency contracts		13.9		6.1			(0.9	)		1.3			0.2			(0.7	)
Total	$	14.6	$	6.1		$	(0.9	)	$	0.8		$	0.2		$	(0.7	)
Location of gain/(loss) in the consolidated results of operations:
Net sales			$	(0.2	)	$	—					$	(0.3	)	$	—
Cost of sales				6.3			—						0.5			—
SG&A				—			(0.9	)					—			(0.7	)
Total			$	6.1		$	(0.9	)				$	0.2		$	(0.7	)

(a) Represents effective portion recognized in Other Comprehensive Income (“OCI”).

(b) Represents portion excluded from effectiveness testing.

Gain and Loss Activity Related to Derivative Financial Instruments Not Designated as Effective Hedges

The following table presents gain and loss activity (on a pretax basis) for the three months ended March 31, 2013 and 2012 related to derivative financial instruments not designated as effective hedges:

	Gain/(Loss) Recognized in Income (a)
	Three Months Ended March  31,
(in millions)	2013		2012
Derivatives not designated as effective hedges:
Cash flow derivatives:
Foreign currency contracts	$	6.4	$	(1.9	)
Commodity contracts		0.1		0.5
Fair value derivatives:
Interest rate swaps		—		0.3
Total	$	6.5	$	(1.1	)

(a) Classified in SG&A.