Business and Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2012

Useful Lives of Property Plant and Equipment

The Company provides for depreciation primarily using the straight-line method in amounts that allocate the cost of property, plant and equipment over the following ranges of useful lives:

Buildings and improvements	5 to 45 years
Machinery, equipment and tooling (includes capitalized software)	3 to 25 years
Furniture and fixtures	3 to 10 years

Assets and Liabilities Measured at Fair Value on Recurring Basis

The following table summarizes assets and liabilities that are measured at fair value on a recurring basis at December 31, 2012 and 2011:

	2012
	Fair Value Asset (Liability)
(in millions)	Level 1		Level 2			Level 3		Total
Derivatives:
Assets	$	—	$	1.9		$	—	$	1.9
Liabilities		—		(10.4	)		—		(10.4	)
Available-for-sale securities		—		20.0			—		20.0
	2011
	Fair Value Asset (Liability)
(in millions)	Level 1		Level 2			Level 3		Total
Derivatives:
Assets	$	—	$	4.4		$	—	$	4.4
Liabilities		—		(8.6	)		—		(8.6	)
Available-for-sale securities		—		19.5			—		19.5

Assets Measured at Level Three Fair Value on Non-recurring Basis

The following table summarizes the assets that are measured at Level 3 fair value on a non-recurring basis at December 31, 2011:

(in millions)	2011
Goodwill	$	74.0
Intangible assets		2.1