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Financial Instruments (Tables) | 3 Months Ended
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Apr. 02, 2016
Fair Value Disclosures [Abstract] |
Estimated Aggregate Fair Value of Debt Instruments | The estimated fair value, as well as the carrying value, of the Company's debt instruments are shown below (in millions):
| April 2, 2016 |  | December 31, 2015
Estimated aggregate fair value | $ | 2,021.0 |  |  | $ | 1,992.3 |
Aggregate carrying value | 1,962.5 |  |  | 1,965.6 |
Schedule of Notional Amounts of Outstanding Foreign Currency Derivative Positions | The notional amount and estimated fair value of the Company's foreign currency derivative contracts are shown below (in millions, except for maturities):
| April 2, 2016 |  | December 31, 2015
Contracts designated as cash flow hedges: |  |  |
Notional amount | $ | 1,234.1 |  |  | $ | 1,394.6 |
Fair value | $ | (43.6 | ) |  | $ | (46.4 | )
Outstanding maturities in months, not to exceed | 24 |  |  | 24 |
Contracts not designated as hedging instruments: |  |  |
Notional amount | $ | 960.3 |  |  | $ | 423.4 |
Fair value | $ | 1.1 |  |  | $ | (4.5 | )
Outstanding maturities in months, not to exceed | 12 |  |  | 12 |
Total outstanding notional amount | $ | 2,194.4 |  |  | $ | 1,818.0 |
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 condensed consolidated balance sheets as of April 2, 2016 and December 31, 2015, are shown below (in millions):
| April 2, 2016 |  | December 31, 2015
Contracts designated as cash flow hedges: |  |  |
Other current assets | $ | 3.2 |  |  | $ | 8.2 |
Other long-term assets | 3.1 |  |  | 0.3 |
Other current liabilities | (47.0 | ) |  | (51.5 | )
Other long-term liabilities | (2.9 | ) |  | (3.4 | )
| (43.6 | ) |  | (46.4 | )
Contracts not designated as hedging instruments: |  |  |
Other current assets | 9.0 |  |  | 3.6 |
Other current liabilities | (7.9 | ) |  | (8.1 | )
| 1.1 |  |  | (4.5 | )
| $ | (42.5 | ) |  | $ | (50.9 | )
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):
| Three Months Ended
| April 2, 2016 |  | March 28, 2015
Contracts designated as cash flow hedges: |  |  |
Gains (losses) recognized in accumulated other comprehensive loss | $ | (15.7 | ) |  | $ | 3.4 |
Losses reclassified from accumulated other comprehensive loss | 18.5 |  |  | 4.7 |
Comprehensive income | $ | 2.8 |  |  | $ | 8.1 |
Pretax Gains (Losses) Reclassified From AOCI Into Income | Pretax gains (losses) reclassified from accumulated other comprehensive loss to net sales and cost of sales are shown below (in millions):
| Three Months Ended
| April 2, 2016 |  | March 28, 2015
Net sales | $ | (0.3 | ) |  | $ | 0.4 |
Cost of sales | (18.2 | ) |  | (5.1 | )
| $ | (18.5 | ) |  | $ | (4.7 | )
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 at fair value on a recurring basis as of April 2, 2016 and December 31, 2015, are shown below (in millions):
| April 2, 2016
| Frequency |  | Asset (Liability) |  | Valuation Technique |  | Level 1 |  | Level 2 |  | Level 3
Foreign currency derivative contracts, net | Recurring |  | $ | (42.5 | ) |  | Market/ Income |  | $ | — |  |  | $ | (42.5 | ) |  | $ | — |
Marketable equity securities | Recurring |  | $ | 25.0 |  |  | Market |  | $ | 25.0 |  |  | $ | — |  |  | $ | — |
| December 31, 2015
| Frequency |  | Asset (Liability) |  | Valuation Technique |  | Level 1 |  | Level 2 |  | Level 3
Foreign currency derivative contracts, net | Recurring |  | $ | (50.9 | ) |  | Market/ Income |  | $ | — |  |  | $ | (50.9 | ) |  | $ | — |
Marketable equity securities | Recurring |  | $ | 23.0 |  |  | Market |  | $ | 23.0 |  |  | $ | — |  |  | $ | — |

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- Definition Tabular disclosure of information pertaining to carrying amount and estimated fair value of short-term and long-term debt instruments or arrangements, including but not limited to, identification of terms, features, and collateral requirements. + References No definition available. + Details
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- Definition Tabular disclosure of the effective portion of gains and losses on derivative instruments (and nonderivative instruments) designated and qualifying in cash flow hedges recorded in accumulated other comprehensive income (loss) during the term of the hedging relationship and reclassified into earnings during the current period. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5624171-113959 + Details
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- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5624171-113959 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5618551-113959 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19190-110258 + Details
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- Definition Tabular disclosure of the presentation of foreign exchange contracts on the statement of financial position, including the fair value amounts and location of such amounts. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5624163-113959 + Details
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- Definition Tabular disclosure of the notional amounts of outstanding derivative positions. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5579245-113959 + Details
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