Derivative Financial Instruments (Tables)

6 Months Ended

Jul. 02, 2011

Fair Value of Derivatives

A summary of the fair value of the Company’s derivatives recorded in the Consolidated Balance Sheets at July 2, 2011 and January 1, 2011 is as follows (in millions):

	Balance Sheet Classification	2011		2010		Balance Sheet Classification	2011		2010
Derivatives designated as hedging instruments:
Interest Rate Contracts Cash Flow	LT other assets	$	—	$	—	LT other liabilities	$	29.5	$	17.3
Interest Rate Contracts Fair Value	Other current assets		18.9		5.5	Accrued expenses		3.5		—
	LT other assets		9.4		10.7	LT other liabilities		8.2		11.9
Foreign Exchange Contracts Cash Flow	Other current assets		—		0.7	Accrued expenses		5.6		5.6
	LT other assets		—		—	LT other liabilities		4.0		—
Net Investment Hedge	Other current assets		3.3		11.7	Accrued expenses		15.9		17.7
		$	31.6	$	28.6		$	66.7	$	52.5
Derivatives not designated as hedging     instruments:
Foreign Exchange Contracts	Other current assets	$	22.5	$	26.4	Accrued expenses	$	51.7	$	59.1
	LT other assets		0.9		—	LT other liabilities		3.3		4.1
		$	23.4	$	26.4		$	55.0	$	63.2

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

The tables below detail pre-tax amounts reclassified from Accumulated other comprehensive income into earnings for active derivative financial instruments during the periods in which the underlying hedged transactions affected earnings for the six months ended July 2, 2011 and July 3, 2010 (in millions):

	(Ineffective Portion*)	(Ineffective Portion*)	(Ineffective Portion*)	(Ineffective Portion*)
Year-to-date 2011	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	$    (12.2)	Interest expense	$    —	$—
Foreign Exchange Contracts	$    (17.0)	Cost of sales	$(10.3)	$—

Year-to-date 2010	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		$	(61.3	)		Interest expense		$	(1.6	)		$	—
Foreign Exchange Contracts		$	(0.4	)		Cost of sales		$	0.3			$	—
Foreign Exchange Contracts		$	21.5			Other, net		$	22.4			$	—

*       Includes ineffective portion and amount excluded from effectiveness testing.

Fair Value Adjustments Relating to Swaps

A summary of the fair value adjustments relating to these swaps for the second quarter and first six months of 2011 and 2010 is as follows (in millions):

	Second Quarter 2011		Year to Date 2011
Income Statement Classification	Gain/(Loss) on Swaps	Gain /(Loss)  on Borrowings	Gain/(Loss) on Swaps	Gain /(Loss)  on Borrowings
Interest Expense	$              15.9	$(15.9)	$  11.1	$    (11.1)
	Second Quarter 2010		Year to Date 2010
Income Statement Classification	Gain/(Loss) on Swaps	Gain /(Loss)  on Borrowings	Gain/(Loss) on Swaps	Gain /(Loss)  on Borrowings
Interest Expense	$                  6.4	$  (6.4)	$    6.3	$    (6.3)

Details of Foreign Exchange Contracts Pre-Tax Amounts

The details of the pre-tax amounts are below (in millions):

	Second Quarter 2011			Year-to-Date 2011
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	$    (1.9)	$—	$—	$(35.9)	$—	$—

	Second Quarter 2010			Year-to-Date 2010
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	$  35.7	$—	$—	$  54.3	$—	$—

*       Includes ineffective portion and amount excluded from effectiveness testing.

Income Statement Impacts Related to Derivatives Not Designated as Hedging Instruments

The income statement impacts related to derivatives not designated as hedging instruments for the second quarter and first six months of 2011 and 2010 are as follows (in millions):

Derivatives Not Designated as Hedging Instruments under ASC 815	Income  Statement Classification		Second Quarter 2011 Amount of  Gain (Loss) Recorded in Income on Derivative	Year-to-Date 2011 Amount of Gain  (Loss) Recorded in Income on Derivative
Foreign Exchange Contracts		Other, net	$(29.7)	$(39.6)
Derivatives Not Designated as Hedging Instruments under ASC 815	Income Statement Classification		Second Quarter 2010 Amount of  Gain (Loss) Recorded in Income on Derivative	Year-to-Date 2010 Amount of Gain  (Loss) Recorded in Income on Derivative
Foreign Exchange Contracts		Other, net	$ (29.1)	$ (32.9)
		Cost of Sales	$    2.2	$     2.7