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Financial Instruments (Tables)
3 Months Ended
Mar. 31, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Fair Values of Derivative Instruments

The fair values of derivative instruments on the consolidated balance sheets as of March 31, 2015 and December 31, 2014 were:

 

(In millions)         Fair Value  
    

Location

   March 31,
2015
     December 31,
2014
 

Assets

        

Foreign exchange contracts

  

Other current assets

   $ 7.6       $ 5.1   

Net investment hedges

  

Other current assets

     —           0.5   
     

 

 

    

 

 

 

Total assets

$ 7.6    $ 5.6   

Liabilities

Foreign exchange contracts

Other current liabilities

$ 4.7    $ 5.4   
Effects of Derivative Financial Instruments on Statements of Comprehensive Income

The effects of derivative financial instruments on the statements of comprehensive income for the three months ended March 31, 2015 and 2014 were:

 

(In millions)         Gain Recognized in Income  

Type of hedge

  

Location

   March 31,
2015
     March 31,
2014
 

Cash flow

   Cost of products sold    $ 1.0       $ 0.7   

Fair value

   Other expense, net      1.0         0.9   
     

 

 

    

 

 

 

Total

$ 2.0    $ 1.6