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Financial Instruments (Tables)
 9 Months Ended
Sep. 30, 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

       September 30,
2013		      December 31,
2012		  
(dollars in millions)                   

Forward currency contracts

   

Other current assets

    $ 1.7       $ 1.4   

Option currency contracts

   

Other current assets

      1.4         0.6   

Forward currency contracts

   

Other assets

      0.2         —     

Interest rate swap contract

   

Other assets

      9.8         13.3   
     

 

 

     

 

 

  
      $ 13.1       $ 15.3   
     

 

 

     

 

 

  

Forward currency contracts

   

Accrued expenses

    $ 0.3       $ 0.4   

Forward currency contracts

   

Other long-term liabilities

      0.1         —     
     

 

 

     

 

 

  
      $ 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 (Loss)		     Location of
Gain/(Loss) Reclassified
from Accumulated
Other Comprehensive Loss to
Income		    Gain/(Loss) Reclassified
from Accumulated
Other Comprehensive Loss
into Income		  
     Quarter Ended
September 30,		        Quarter Ended
September 30,		  
     2013     2012        2013     2012  
(dollars in millions)                              

Forward currency contracts

    $ (0.5 )    $ 1.5      Cost of goods sold    $ 1.7      $ (0.4 ) 

Option currency contracts

      0.9        (0.6 )    Cost of goods sold      (0.6 )      0.6   
  

 

 

    

 

 

       

 

 

    

 

 

  
   $ 0.4      $ 0.9         $ 1.1      $ 0.2   
  

 

 

    

 

 

       

 

 

    

 

 

  
     Gain/(Loss)
Recognized in Other
Comprehensive
Income (Loss)		      Location of
Gain/(Loss) Reclassified
from Accumulated
Other Comprehensive Loss to
Income		    Gain/(Loss) Reclassified
from Accumulated
Other Comprehensive Loss
into Income		  
     Nine Months Ended
September 30,		         Nine Months Ended
September 30,		  
     2013      2012         2013     2012  
(dollars in millions)                                

Forward currency contracts

    $ 4.1       $ 4.0       Cost of goods sold    $ 1.7      $ (0.4 ) 

Option currency contracts

      1.0         1.0       Cost of goods sold      (1.1 )      1.5   
  

 

 

     

 

 

        

 

 

    

 

 

  
   $ 5.1       $ 5.0          $ 0.6      $ 1.1   
  

 

 

     

 

 

        

 

 

    

 

 

  
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 are as follows:

 

     Income Statement
Location		      (Loss)/Gain Recognized on Swap      Gain/(Loss) Recognized on Long-Term Debt  
        Quarter Ended
September 30,		      Nine Months Ended
September 30,		      Quarter Ended
September 30,		     Nine Months Ended
September 30,		  
        2013     2012      2013     2012      2013      2012     2013      2012  
(dollars in millions)                                                            

Interest rate swap contract

      Interest expense       $ (0.3 )    $ 1.0       $ (3.5 )    $ 2.5       $ 0.3       $ (1.0 )    $ 3.5       $ (2.5 ) 
     

 

 

    

 

 

     

 

 

    

 

 

     

 

 

     

 

 

    

 

 

     

 

 

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

The location and amounts of gains on derivative instruments not designated as hedging instruments are as follows:

 

    

Income Statement

Location

    Gain Recognized in Earnings  
        Quarter Ended
September 30,		      Nine Months Ended
September 30,		  
        2013      2012      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:

 

     September 30,
2013		      December 31,
2012		  
(dollars in millions)              

Forward currency contracts

    $ 1.5       $ 1.0   

Option currency contracts

      1.4         0.6   

Interest rate swap contract

      9.8         13.3   
Accounts Receivable, Net of Allowances

At September 30, 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

    $ 23.0       $ 4.8   

Italy

      23.1         2.4   

Greece

      10.5         3.2   

Portugal

      4.0         1.7   
  

 

 

     

 

 

  
   $ 60.6       $ 12.1