DERIVATIVE FINANCIAL INSTRUMENTS (Tables)

9 Months Ended

Sep. 27, 2014

Summary of the gross and net fair values of contracts by counterparty

	September 27, 2014								December 31, 2013
	Gross Assets		Gross Liabilities			Net Assets / Liabilities			Gross Assets		Gross Liabilities			Net Assets / Liabilities
FX forward contracts:
Counterparty A	$	0.2	$	(0.1	)	$	0.1		$	0.7	$	(0.1	)	$	0.6
Counterparty B	0.1		(1.8		)	(1.7		)	0.1		(0.4		)	(0.3		)
Aggregate of other counterparties	0.1		(0.8		)	(0.7		)	0.3		—			0.3
Totals (1)	$	0.4	$	(2.7	)	$	(2.3	)	$	1.1	$	(0.5	)	$	0.6

Commodity contracts:
Counterparty A (2)	$	—	$	(0.7	)	$	(0.7	)	$	0.4	$	—		$	0.4

(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 condensed consolidated balance sheets. Amounts presented in our condensed consolidated balance sheets are as follows:

	September 27,			December 31,
	2014			2013
Designated as hedging instruments:
Other current assets	$	0.1		$	0.3

Not designated as hedging instruments:
Other current assets	—			0.6
Accrued expenses	(2.4		)	(0.3		)
	(2.4		)	0.3
Net fair value of FX forward contracts	$	(2.3	)	$	0.6

(2) Related contracts are designated as hedging instruments. Net amounts at September 27, 2014 and December 31, 2013 are recorded in “Accrued expenses” and “Other current assets,” respectively.

Summary of pre-tax gain (loss) recognized in AOCI resulting from derivative financial instruments designated as cash flow hedging relationships

	Three months ended						Nine months ended
	September 27, 2014			September 28, 2013			September 27, 2014			September 28, 2013
FX forward contracts	$	0.1		$	(0.2	)	$	0.6		$	(4.2	)
Commodity contracts	(0.8		)	0.8			(1.5		)	(1.5		)
	$	(0.7	)	$	0.6		$	(0.9	)	$	(5.7	)

Summary of pre-tax loss related to derivative financial instruments designated as cash flow hedging relationships reclassified from AOCI to income

	Three months ended						Nine months ended
	September 27, 2014			September 28, 2013			September 27, 2014			September 28, 2013
FX forward contracts	$	—		$	(2.1	)	$	—		$	(3.0	)
Commodity contracts	(0.3		)	(0.6		)	(0.5		)	(0.5		)
	$	(0.3	)	$	(2.7	)	$	(0.5	)	$	(3.5	)

Schedule of gain (loss) recognized in ''Other income (expense), net'' of derivative financial instruments not designated as cash flow hedging relationships

	Three months ended						Nine months ended
	September 27, 2014			September 28, 2013			September 27, 2014			September 28, 2013
FX forward contracts	$	(4.6	)	$	0.9		$	(2.8	)	$	(1.0	)
FX embedded derivatives	3.1			(0.8		)	1.0			4.9
	$	(1.5	)	$	0.1		$	(1.8	)	$	3.9

FX forward contracts

Derivative financial instruments

Summary of fair value of derivative instruments and the balance sheet classification

	September 27,			December 31,
	2014			2013
Designated as hedging instruments:
Other current assets	$	0.1		$	0.3

Not designated as hedging instruments:
Other current assets	—			0.6
Accrued expenses	(2.4		)	(0.3		)
	(2.4		)	0.3
Net fair value of FX forward contracts	$	(2.3	)	$	0.6

FX embedded derivatives

Derivative financial instruments

Summary of fair value of derivative instruments and the balance sheet classification

	September 27,			December 31,
Balance Sheet Classification	2014			2013
Other current assets	$	1.7		$	0.7
Other assets	0.9			—
Accrued expenses	(5.0		)	(6.5		)
Other long-term liabilities	(1.2		)	(2.1		)
	$	(3.6	)	$	(7.9	)