Derivative Financial Instruments (Tables)

9 Months Ended

Oct. 01, 2011

A summary of the fair value of the Company’s derivatives recorded in the Consolidated Balance Sheets at October 1, 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	$	79.3	$	17.3
Interest Rate Contracts Fair Value	Other current assets		28.4		5.5	Accrued expenses		7.8		—
	LT other assets		25.4		10.7	LT other liabilities		—		11.9
Foreign Exchange Contracts Cash Flow	Other current assets		5.2		0.7	Accrued expenses		0.2		5.6
	LT other assets		1.6		—	LT other liabilities		0.3		—
Net Investment Hedge	Other current assets		17.1		11.7	Accrued expenses		0.8		17.7

		$	77.7	$	28.6		$	88.4	$	52.5


Derivatives not designated as hedging instruments:
Foreign Exchange Contracts	Other current assets	$	60.5	$	26.4	Accrued expenses	$	53.9	$	59.1
	LT other assets		34.1		—	LT other liabilities		21.3		4.1

		$	94.6	$	26.4		$	75.2	$	63.2

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

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 nine months ended October 1, 2011 and October 2, 2010 (in millions):


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	$ (62.0)	Interest expense	$ —	$—
Foreign Exchange Contracts	(2.2)	Cost of sales	(20.5)	—


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	$(56.4)	Interest expense	$(1.6)	$—
Foreign Exchange Contracts	(11.0)	Cost of sales	1.0	$—
Foreign Exchange Contracts	6.5	Other, net	7.9	$—

*	Includes ineffective portion and amount excluded from effectiveness testing.

Fair Value Adjustments Relating to Swaps

contracts was $1.050 billion as of October 1, 2011 and January 1, 2011. A summary of the fair value adjustments relating to these swaps for the third quarter and first nine months of 2011 and 2010 is as follows (in millions):


	Third 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	$ 17.0	$(17.0)	$ 28.0	$ (28.0)

	Third 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	$ 5.8	$ (5.8)	$ 12.1	$ (12.1)

Details of Foreign Exchange Contracts Pre-Tax Amounts

until disposal of the underlying assets. The details of the pre-tax amounts are below (in millions):

Third 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

$ 23.6

$—

$(12.4)

$—

Third 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

$ (79.1)

$—

$ (24.8)

$—

*	Includes ineffective portion and amount excluded from effectiveness testing.

ScheduleOfDerivativeInstrumentsEffectOnOtherComprehensiveIncomeLossTableTextBlock

resulted in a cash payment of $15.8 million. The income statement impacts related to derivatives not designated as hedging instruments for the third quarter and first nine months of 2011 and 2010 are as follows (in millions):


Derivatives Not Designated as Hedging Instruments under ASC 815	Income Statement Classification		Third 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	$45.9	$6.3

Derivatives Not Designated as Hedging Instruments under ASC 815	Income Statement Classification		Third 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	$ 50.9	$ 18.0
		Cost of Sales	(0.5)	2.2