Financial Instruments (Tables)

15 Months Ended

Mar. 31, 2013

Location and Fair Value of Derivative Instruments Designated as Hedging Instruments

The location and fair value of derivative instruments that are designated as hedging instruments recognized in the condensed consolidated balance sheets are as follows:

	Balance Sheet Location	Fair Value of Derivatives
Derivatives Designated as Hedging Instruments		March 31, 2013		December 31, 2012
(dollars in millions)
Forward currency contracts	Other current assets	$	5.1	$	1.4
Option currency contracts	Other current assets		0.7		0.6
Option currency contracts	Other assets		1.3		—
Interest rate swap contract	Other assets		12.2		13.3
		$	19.3	$	15.3
Forward currency contracts	Accrued expenses	$	—	$	0.4
		$	—	$	0.4

Location and Amounts of Gains and Losses on Derivative Instruments Designated as Cash Flow Hedges

The location and amounts of gains and losses on derivative instruments designated as cash flow hedges and the impact on shareholders’ investment are as follows:

	Gain/(Loss) Recognized in Other Comprehensive Income					Location of Gain/(Loss) Reclassified from Accumulated Other Comp. Loss to Income	Gain/ (Loss) Reclassified from Accumulated Other Comp. Loss into Income
	Three Months Ended March 31,						Three Months Ended March 31,
	2013			2012			2013			2012
(dollars in millions)
Forward currency contracts	$	4.8		$	3.4	Costs of goods sold	$	(0.4	)	$	0.4
Option currency contracts		(0.3	)		—	Costs of goods sold		(0.3	)		0.4
	$	4.5		$	3.4		$	(0.7	)	$	0.8

Location and Amounts of Gains and Losses on Derivative Instrument Designated as Fair Value Hedge

The location and amounts of gains and losses on the derivative instrument designated as a fair value hedge for the three months ended March 31, are as follows:

	Income Statement Location	Loss Recognized on Swap						Gain Recognized on Long-Term Debt
		2013			2012			2013		2012
(dollars in millions)
Interest rate swap contract	Interest expense	$	(1.1	)	$	(0.1	)	$	1.1	$	0.1

Location and Amounts of Gains and Losses on Derivative Instruments Not Designated as Hedging Instruments

The location and amounts of gains and losses on derivative instruments not designated as hedging instruments for the three months ended March 31, are as follows:

	Income Statement Location	Gain Recognized in Earnings
		2013		2012
(dollars in millions)
Forward currency contracts(A)	Other (income) expense, net	$	—	$	3.0

(A) These derivative contracts mitigate changes in the value of remeasured foreign currency denominated intercompany loans attributable to changes in foreign currency exchange rates.

Financial Instrument Assets and (Liabilities) Measured at Fair Value on Recurring Basis

The following table summarizes certain financial instrument assets measured at fair value on a recurring basis:

	March 31, 2013		December 31, 2012
(dollars in millions)
Forward currency contracts	$	5.1	$	1.0
Option currency contracts		2.0		0.6
Interest rate swap contract		12.2		13.3

Accounts Receivable, Net of Allowances

At March 31, 2013, the company’s accounts receivable, net of allowances, from the national healthcare systems in these countries and amounts past due greater than 365 days are as follows:

	Accounts receivable, net		Greater than 365 days past due
(dollars in millions)
Spain	$	17.7	$	0.9
Italy		27.1		2.4
Greece		13.9		4.6
Portugal		3.5		1.3
	$	62.2	$	9.2