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Financial Instruments (Tables)
3 Months Ended
Mar. 31, 2016
Fair Values of Derivative Instruments

The fair values of derivative instruments on the consolidated balance sheets as of March 31, 2016 and December 31, 2015 were:

 

(In millions)         Fair Value  
    

Location

   March 31,
2016
     December 31,
2015
 

Assets

        

Foreign exchange contracts

  

Other current assets

   $ 1.6       $ 6.7   

Net investment hedges

  

Other current assets

     —           0.1   
     

 

 

    

 

 

 
  

Total assets

   $ 1.6       $ 6.8   

Liabilities

        

Foreign exchange contracts

  

Other current liabilities

   $ 3.6       $ 3.1   

Net investment hedges

  

Other current liabilities

     0.1         —     
     

 

 

    

 

 

 
  

Total current liabilities

   $ 3.7       $ 3.1   
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, 2016 and 2015 were:

 

(In millions)

Type of hedge

        Gain Recognized in Income  
  

Location

   March 31,
2016
     March 31,
2015
 

Cash flow

  

Cost of products sold

   $ 0.7       $ 1.0   

Fair value

  

Other (income) expense, net

     0.5         1.0   
     

 

 

    

 

 

 

Total

      $ 1.2       $ 2.0