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Financial Instruments (Tables) | 12 Months Ended
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Dec. 31, 2013
Derivative financial instruments |
Summary of the gross and net fair values of contracts by counterparty |
|  | December 31, 2013 |  | December 31, 2012 |
--- | --- | --- | --- | --- | ---
|  | Gross assets |  | Gross liabilities |  | Net assets / liabilities |  | Gross assets |  | Gross liabilities |  | Net assets / liabilities |
FX Forward Contracts: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Counterparty A |  | $ | 0.7 |  | $ | (0.1 | ) | $ | 0.6 |  | $ | 0.2 |  | $ | (0.3 | ) | $ | (0.1 | )
Counterparty B |  |  | 0.1 |  |  | (0.4 | ) |  | (0.3 | ) |  | 0.1 |  |  | (0.2 | ) |  | (0.1 | )
Aggregate of other counterparties |  |  | 0.3 |  |  | — |  |  | 0.3 |  |  | — |  |  | — |  |  | — |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Totals(1) |  | $ | 1.1 |  | $ | (0.5 | ) | $ | 0.6 |  | $ | 0.3 |  | $ | (0.5 | ) | $ | (0.2 | )
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Commodity Contracts: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Counterparty A(2) |  | $ | 0.4 |  | $ | — |  | $ | 0.4 |  | $ | 0.3 |  | $ | (0.1 | ) | $ | 0.2 |
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(1) We enter into arrangements designed to provide the right of setoff in the event of counterparty default or insolvency, and have elected to offset the fair values of our qualifying financial instruments in our consolidated balance sheets. Amounts presented in our consolidated balance sheets are as follows:
|  | December 31, 2013 |  | December 31, 2012 |
--- | --- | --- | --- | --- | ---
Designated as hedging instruments: |  |  |  |  |  |  |
Other current assets |  | $ | 0.3 |  | $ | 0.1 |
Accrued expenses |  |  | — |  |  | (0.3 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
|  |  | 0.3 |  |  | (0.2 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Not designated as hedging instruments: |  |  |  |  |  |  |
Other current assets |  |  | 0.6 |  |  | 0.1 |
Accrued expenses |  |  | (0.3 | ) |  | (0.1 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
|  |  | 0.3 |  |  | — |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net fair value of FX forward contracts |  | $ | 0.6 |  | $ | (0.2 | )
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(2) Related contracts are designated as hedging instruments. Net amounts at December 31, 2013 and 2012, respectively, are recorded in "Other current assets".
Summary of pre-tax gain (loss) recognized in AOCI resulting from derivative financial instruments designated as cash flow hedging relationships |
|  | Year ended December 31, |
--- | --- | --- | ---
|  | 2013 |  | 2012 |  | 2011 |
FX forward contracts |  | $ | (0.3 | ) | $ | (0.4 | ) | $ | (0.2 | )
Commodity contracts |  |  | (1.2 | ) |  | 0.4 |  |  | (1.8 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
|  | $ | (1.5 | ) | $ | — |  | $ | (2.0 | )
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Summary of pre-tax gain (loss) related to derivative financial instruments designated as cash flow hedging relationships reclassified from AOCI to income |
|  | Year ended December 31,(1) |
--- | --- | --- | ---
|  | 2013 |  | 2012 |  | 2011 |
FX forward contracts |  | $ | (4.0 | ) | $ | (0.7 | ) | $ | (0.8 | )
Commodity contracts |  |  | (1.3 | ) |  | (0.8 | ) |  | 0.6 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
|  | $ | (5.3 | ) | $ | (1.5 | ) | $ | (0.2 | )
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(1) For the years ended December 31, 2013, 2012 and 2011, gains (losses) of $(0.2), $(0.4), and $0.3, respectively, were recognized in "Other income (expense), net" relating to derivative ineffectiveness and amounts excluded from effectiveness testing.
Schedule of pre-tax gain (loss) recognized in ''Other income (expense), net'' of derivative financial instruments not designated in cash flow hedging relationships |
|  | Year ended December 31, |
--- | --- | --- | ---
|  | 2013 |  | 2012 |  | 2011 |
FX forward contracts |  | $ | 0.1 |  | $ | 0.6 |  | $ | (38.5 | )
FX embedded derivatives |  |  | 0.6 |  |  | (0.4 | ) |  | 1.2 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
|  | $ | 0.7 |  | $ | 0.2 |  | $ | (37.3 | )
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FX forward contracts |
Derivative financial instruments |
Summary of fair value of derivative instruments and the balance sheet classification |
|  | December 31, 2013 |  | December 31, 2012 |
--- | --- | --- | --- | --- | ---
Designated as hedging instruments: |  |  |  |  |  |  |
Other current assets |  | $ | 0.3 |  | $ | 0.1 |
Accrued expenses |  |  | — |  |  | (0.3 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
|  |  | 0.3 |  |  | (0.2 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Not designated as hedging instruments: |  |  |  |  |  |  |
Other current assets |  |  | 0.6 |  |  | 0.1 |
Accrued expenses |  |  | (0.3 | ) |  | (0.1 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
|  |  | 0.3 |  |  | — |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net fair value of FX forward contracts |  | $ | 0.6 |  | $ | (0.2 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
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FX embedded derivatives |
Derivative financial instruments |
Summary of fair value of derivative instruments and the balance sheet classification |
Balance Sheet Classification |  | December 31, 2013 |  | December 31, 2012 |
--- | --- | --- | --- | --- | ---
Other current assets |  | $ | 0.7 |  | $ | 0.3 |
Accrued expenses |  |  | (6.5 | ) |  | (0.9 | )
Other long-term liabilities |  |  | (2.1 | ) |  | (9.8 | )
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|  | $ | (7.9 | ) | $ | (10.4 | )
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- Definition 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 Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 133 -Paragraph 205G -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624163-113959 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 133 -Paragraph 44C -Subparagraph a -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
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