Derivative Financial Instruments (Tables)

3 Months Ended

Apr. 04, 2015

A summary of the fair value of the Company’s derivatives recorded in the Condensed Consolidated Balance Sheets at April 4, 2015 and January 3, 2015 follows (in millions):



	Balance Sheet Classification	April 4, 2015		January 3, 2015		Balance Sheet Classification	April 4, 2015		January 3, 2015
Derivatives designated as hedging instruments:
Interest Rate Contracts Cash Flow	LT other assets	$	—	$	—	LT other liabilities	$	49.7	$	34.3
Interest Rate Contracts Fair Value	Other current assets	15.0		13.2		Accrued expenses	2.7		1.1
	LT other assets	11.4		—		LT other liabilities	1.5		19.1
Foreign Exchange Contracts Cash Flow	Other current assets	65.9		43.3		Accrued expenses	0.1		1.7
	LT other assets	1.8		—		LT other liabilities	—		—
Net Investment Hedge	Other current assets	83.8		75.4		Accrued expenses	2.0		0.1
Total Designated		$	177.9	$	131.9		$	56.0	$	56.3
Derivatives not designated as hedging instruments:
Foreign Exchange Contracts	Other current assets	$	19.6	$	12.3	Accrued expenses	$	102.6	$	92.1
Total Undesignated		$	19.6	$	12.3		$	102.6	$	92.1

Detail Pre-tax Amounts Reclassified From Accumulated Other Comprehensive Income (Loss) into Earnings for Active Derivative Financial Instruments

The tables below detail pre-tax amounts reclassified from Accumulated other comprehensive loss into earnings for active derivative financial instruments during the periods in which the underlying hedged transactions affected earnings for the three months ended April 4, 2015 and March 29, 2014 (in millions):



Year-to-date 2015	Gain (Loss) Recorded in OCI			Classification of Gain (Loss) Reclassified from OCI to Income	Gain (Loss) Reclassified from OCI to Income (Effective Portion)		Gain (Loss) Recognized in Income (Ineffective Portion*)
Interest Rate Contracts	$	(15.5	)	Interest Expense	$	—	$	—
Foreign Exchange Contracts	$	38.0		Cost of sales	$	6.7	$	—



Year-to-date 2014	Gain (Loss) Recorded in OCI			Classification of Gain (Loss) Reclassified from OCI to Income	Gain (Loss) Reclassified from OCI to Income (Effective Portion)		Gain (Loss) Recognized in Income (Ineffective Portion*)
Foreign Exchange Contracts	$	(2.6	)	Cost of sales	$	0.1	$	—

* Includes ineffective portion and amount excluded from effectiveness testing on derivatives.

Fair Value Adjustments Relating to Swaps

A summary of the fair value adjustments relating to these swaps for the three months ended April 4, 2015 and March 29, 2014, respectively, is as follows (in millions):



	Year-to-Date 2015					Year-to-Date 2014
Income Statement Classification	Gain/(Loss) on Swaps*		Gain /(Loss) on Borrowings			Gain/(Loss) on Swaps		Gain /(Loss) on Borrowings
Interest Expense	$	17.2	$	(16.8	)	$	66.5	$	(66.5	)

Details of Foreign Exchange Contracts Pre-Tax Amounts

The pre-tax gain or loss from fair value changes recorded in Accumulated other comprehensive loss for the three months ended April 4, 2015 and March 29, 2014, respectively, was as follows (in millions):



	Year-to-Date 2015						Year-to-Date 2014
Income Statement Classification	Amount Recorded in OCI Gain (Loss)		Effective Portion Recorded in Income Statement		Ineffective Portion* Recorded in Income Statement		Amount Recorded in OCI Gain (Loss)			Effective Portion Recorded in Income Statement		Ineffective Portion* Recorded in Income Statement
Other-net	$	36.9	$	—	$	—	$	(10.7	)	$	—	$	—

Income Statement Impacts Related to Derivatives Not Designated as Hedging Instruments

The gain (loss) recorded in income related to derivatives not designated as hedging instruments for the three months ended April 4, 2015 and March 29, 2014, respectively, are as follows (in millions):



Derivatives Not Designated as Hedging Instruments under ASC 815	Income Statement Classification	Year-to-Date 2015 Amount of Gain (Loss) Recorded in Income on Derivative			Year-to-Date 2014 Amount of Gain (Loss) Recorded in Income on Derivative
Foreign Exchange Contracts	Other-net	$	(29.4	)	$	8.0