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Financial Instruments (Tables)

6 Months Ended

Jun. 29, 2013

Investments All Other Investments [Abstract]

Fair Value of Derivative Instruments Included within Consolidated Balance Sheets

The fair value of derivative instruments included within the Condensed Consolidated Balance Sheets as of June 29, 2013, and December 29, 2012, are as follows:

				June 29, 2013								December 29, 2012
(Amounts in millions)		Balance Sheet Presentation		Asset Derivatives Fair Value				Liability Derivatives Fair Value				Asset Derivatives Fair Value				Liability Derivatives Fair Value
Derivatives designated as hedging instruments:
Interest rate swaps		Other assets		$	12.6			$	–			$	21.4			$	–
Derivatives not designated as hedging instruments:
Foreign currency forwards		Prepaid expenses and other assets		$	3.1			$	–			$	8.9			$	–
Foreign currency forwards		Other accrued liabilities			–				10.0				–				1.8
Equity forwards		Prepaid expenses and other assets			11.3				–				–				–
Total				$	14.4			$	10.0			$	8.9			$	1.8
Total derivatives instruments				$	27.0			$	10.0			$	30.3			$	1.8

Derivative Instruments Designated as Fair Value Hedges Included in Consolidated Statements of Earnings

The effects of derivative instruments designated as fair value hedges as included in the Condensed Consolidated Statements of Earnings are as follows:

				Effective Portion of Gain Recognized in Income
				Three months ended								Six months ended
(Amounts in millions)		Statement of Earnings Presentation		June 29, 2013				June 30, 2012				June 29, 2013				June 30, 2012
Derivatives designated as fair value hedges:
Interest rate swaps		Interest expense		$	0.9			$	0.9			$	2.0			$	1.7

Effects of Derivative Instruments Designated as Cash Flow Hedges Included in Accumulated OCI on Consolidated Balance Sheets

The effects of derivative instruments designated as cash flow hedges as included in Accumulated OCI on the Condensed Consolidated Balance Sheets and the Condensed Consolidated Statements of Earnings are as follows:

Effective Portion of Gain / (Loss) Recognized in Accumulated  OCI Three months ended

Statement of Earnings Presentation

Effective Portion of Gain Reclassified from Accumulated OCI into Income Three months ended

(Amounts in millions)

June 29, 2013

June 30, 2012

June 29, 2013

June 30, 2012

Derivatives designated as cash flow hedges:

Treasury locks

$

–

$

–

Interest expense

$

0.1

$

0.1

Effective Portion of Gain / (Loss) Recognized in Accumulated OCI Six months ended

Statement of Earnings Presentation

Effective Portion of Gain Reclassified from Accumulated OCI into Income Six months ended

(Amounts in millions)

June 29, 2013

June 30, 2012

June 29, 2013

June 30, 2012

Derivatives designated as cash flow hedges:

Treasury locks

$

–

$

–

Interest expense

$

0.2

$

0.2

Derivative Instruments Not Designated as Hedges Included in Consolidated Statements of Earnings

The effects of derivative instruments not designated as hedging instruments as included in the Condensed Consolidated Statements of Earnings are as follows:

Statement of Earnings Presentation

Gain / (Loss) Recognized in Income

Three months ended

Six months ended

(Amounts in millions)

June 29, 2013

June 30, 2012

June 29, 2013

June 30, 2012

Derivatives not designated as hedging instruments:

Foreign currency forwards

Other income (expense) – net

$

(3.9)

$

(8.8)

$

(5.9)

$

(2.9)

Equity forwards

Operating expenses

0.9

–

1.1

–

Fair Values of Financial Instruments Not Approximating Carrying Values in Financial Statements

Fair Value of Financial Instruments: The fair values of financial instruments that do not approximate the carrying values in the financial statements are as follows:

		June 29, 2013								December 29, 2012
(Amounts in millions)		Carrying Value				Fair Value				Carrying Value				Fair Value
Finance receivables – net		$	876.2			$	1,009.3			$	817.7			$	948.9
Contract receivables – net			259.1				297.4				257.1				300.6
Long-term debt and notes payable and current maturities of long-term debt			976.3				1,090.6				975.6				1,126.7

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Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

-Paragraph 2

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=25499696&loc=d3e19207-110258



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-Publisher FASB

-Name Accounting Standards Codification

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-Publisher FASB

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Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 815

-SubTopic 10

-Section 50

-Paragraph 4A

-Subparagraph (b)

-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5618551-113959



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-Publisher FASB

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Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

+ References

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-Publisher FASB

-Name Accounting Standards Codification

-Topic 815

-SubTopic 10

-Section 50

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