Derivative Financial Instruments (Tables)

12 Months Ended

Apr. 30, 2017

The following tables set forth the gross fair value amounts of derivative instruments recognized in the Consolidated Balance Sheets.



		April 30, 2017
	Other Current Assets			Other Current Liabilities			Other Noncurrent Assets			Other Noncurrent Liabilities
Derivatives not designated as hedging instruments:
Commodity contracts		$	5.2		$	21.2		$	—		$	—
Foreign currency exchange contracts		3.2			0.1			—			—
Total derivative instruments		$	8.4		$	21.3		$	—		$	—
		April 30, 2016
	Other Current Assets			Other Current Liabilities			Other Noncurrent Assets			Other Noncurrent Liabilities
Derivatives not designated as hedging instruments:
Commodity contracts		$	20.3		$	14.1		$	2.0		$	1.2
Foreign currency exchange contracts		0.2			8.9			0.3			0.4
Total derivative instruments		$	20.5		$	23.0		$	2.3		$	1.6

The following table presents the net gains and losses recognized in cost of products sold on derivatives not designated as

hedging instruments.



	Year Ended April 30,
	2017			2016
Losses on commodity contracts	$	(45.2	)	$	(31.6	)
Gains on foreign currency exchange contracts	9.8			2.0
Total losses recognized in costs of products sold	$	(35.4	)	$	(29.6	)

The following table presents the activity in unallocated derivative gains and losses.



	Year Ended April 30,
	2017			2016			2015
Net losses on mark-to-market valuation of unallocated derivative positions	$	(35.4	)	$	(29.6	)	$	(39.7	)
Net losses on derivative positions reclassified to segment operating profit	8.2			41.6			15.2
Unallocated derivative (losses) gains	$	(27.2	)	$	12.0		$	(24.5	)

The following table presents the gross contract notional value of outstanding derivative contracts.



	Year Ended April 30,
	2017		2016
Commodity contracts	$	704.9	$	545.7
Foreign currency exchange contracts	195.4		212.5