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Financial Instruments (Tables)
 12 Months Ended
Dec. 31, 2014
Fair Value of Outstanding Foreign Currency Derivative Contracts and Related Classification
The fair value of outstanding foreign currency derivative contracts and the related classification in the accompanying consolidated balance sheets are shown below (in millions):
December 31,
2014
 
2013
Contracts qualifying for hedge accounting:
 
 
 
Other current assets
$
6.8

 
$
12.4

Other long-term assets
0.1

 
0.7

Other current liabilities
(38.5
)
 
(6.5
)
Other long-term liabilities
(6.1
)
 
(0.1
)
 
(37.7
)
 
6.5

Contracts not qualifying for hedge accounting:
 
 
 
Other current assets
2.1

 
0.4

Other current liabilities
(1.0
)
 
(0.5
)
 
1.1

 
(0.1
)
 
$
(36.6
)
 
$
6.4
Fair Value Measurements and Related Valuation Techniques and Fair Value Hierarchy Level
Fair value measurements and the related valuation techniques and fair value hierarchy level for the Company’s assets and liabilities measured or disclosed at fair value on a recurring basis as of December 31, 2014 and 2013, are shown below (in millions):
 
December 31, 2014
 
Frequency
 
Liability
 
Valuation
Technique
 
Level 1
 
Level 2
 
Level 3
Foreign currency derivative contracts
Recurring
 
$
(36.6
)
 
Market / Income
 
$
—

 
$
(36.6
)
 
$
—

 
December 31, 2013
 
Frequency
 
Asset
 
Valuation
Technique
 
Level 1
 
Level 2
 
Level 3
Foreign currency derivative contracts
Recurring
 
$
6.4

 
Market / Income
 
$
—

 
$
6.4

 
$
—
Foreign exchange contract  
Pretax Amounts Related to Derivative Contracts
Pretax amounts related to foreign currency derivative contracts that were recognized in and reclassified from accumulated other comprehensive loss are shown below (in millions):
For the year ended December 31,
2014
 
2013
 
2012
Contracts qualifying for hedge accounting:
 
 
 
 
 
Gains (losses) recognized in accumulated other comprehensive loss
$
(36.0
)
 
$
18.8

 
$
55.8

(Gains) losses reclassified from accumulated other comprehensive loss
(8.2
)
 
(32.2
)
 
3.2

Other comprehensive income (loss)
$
(44.2
)
 
$
(13.4
)
 
$
59.0
Commodity contract  
Pretax Amounts Related to Derivative Contracts
Pretax amounts related to commodity swap contracts that were recognized in and reclassified from accumulated other comprehensive loss are shown below (in millions):
For the year ended December 31,
 
2012
Contracts qualifying for hedge accounting:
 
 
Gains recognized in accumulated other comprehensive loss
 
$
0.1

Losses reclassified from accumulated other comprehensive loss
 
0.2

Other comprehensive income
 
$
0.3