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Financial Instruments (Tables) | 6 Months Ended
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Jul. 04, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Fair values of derivative instruments | As of July 4, 2015, the fair values of the Company’s derivative instruments were:
(in millions) |  |  |  |
|  | Derivative Assets |  | Derivative Liabilities
Instrument |  | Balance Sheet Location |  | Fair Value |  | Balance Sheet Location |  | Fair Value
Derivatives Designated as Cash Flow Hedges |  |  |  |  |  |  |  |
Foreign exchange contracts |  | Prepaid expenses and other |  | $ | 3.3 |  |  | Accrued expenses |  | $ | 1.2 |
Commodity contracts |  | Prepaid expenses and other |  | — |  |  | Accrued expenses |  | 0.4 |
Total |  |  |  | $ | 3.3 |  |  |  |  | $ | 1.6 |
Derivatives Designated as Fair Value Hedges |  |  |  |  |  |  |  |
Interest rate contracts |  | Prepaid expenses and other |  | $ | 2.2 |  |  | Accrued expenses |  | $ | 1.4 |
Interest rate contracts |  | Other long-term assets |  | 1.2 |  |  | Other long-term liabilities |  | 0.0 |
Total |  |  |  | $ | 3.4 |  |  |  |  | $ | 1.4 |
Other Hedging Activity |  |  |  |  |  |  |  |
Foreign exchange contracts |  | Prepaid expenses and other |  | $ | 1.0 |  |  | Accrued expenses |  | $ | 0.8 |
Commodity contracts |  | Prepaid expenses and other |  | — |  |  | Accrued expenses |  | 3.1 |
Total |  |  |  | $ | 1.0 |  |  |  |  | $ | 3.9 |
As of December 31, 2014, the fair values of the Company’s derivative instruments were:
(in millions) |  |  |  |
|  | Derivative Assets |  | Derivative Liabilities
Instrument |  | Balance Sheet Location |  | Fair Value |  | Balance Sheet Location |  | Fair Value
Derivatives Designated as Cash Flow Hedges |  |  |  |  |  |  |  |
Foreign exchange contracts |  | Prepaid expenses and other |  | $ | 5.9 |  |  | Accrued expenses |  | $ | 1.5 |
Commodity contracts |  | Prepaid expenses and other |  | 0.3 |  |  | Accrued expenses |  | 0.7 |
Total |  |  |  | $ | 6.2 |  |  |  |  | $ | 2.2 |
Derivatives Designated as Fair Value Hedges |  |  |  |  |  |  |  |
Interest rate contracts |  | Prepaid expenses and other |  | $ | 3.9 |  |  | Accrued expenses |  | $ | 1.3 |
Total |  |  |  | $ | 3.9 |  |  |  |  | $ | 1.3 |
Other Hedging Activity |  |  |  |  |  |  |  |
Foreign exchange contracts |  | Prepaid expenses and other |  | $ | 1.0 |  |  | Accrued expenses |  | $ | 0.1 |
Total |  |  |  | $ | 1.0 |  |  |  |  | $ | 0.1 |
As of June 28, 2014, the fair values of the Company’s derivative instruments were:
(in millions) |  |  |  |
|  | Derivative Assets |  | Derivative Liabilities
Instrument |  | Balance Sheet Location |  | Fair Value |  | Balance Sheet Location |  | Fair Value
Derivatives Designated as Cash Flow Hedges |  |  |  |  |  |  |  |
Foreign exchange contracts |  | Prepaid expenses and other |  | $ | 0.9 |  |  | Accrued expenses |  | $ | 1.4 |
Commodity contracts |  | Prepaid expenses and other |  | 1.0 |  |  | Accrued expenses |  | 0.2 |
Total |  |  |  | $ | 1.9 |  |  |  |  | $ | 1.6 |
Derivatives Designated as Fair Value Hedges |  |  |  |  |  |  |  |
Interest rate contracts |  | Prepaid expenses and other |  | $ | 0.9 |  |  | Accrued expenses |  | $ | 2.3 |
Total |  |  |  | $ | 0.9 |  |  |  |  | $ | 2.3 |
Other Hedging Activity |  |  |  |  |  |  |  |
Foreign exchange contracts |  | Prepaid expenses and other |  | $ | 0.0 |  |  | Accrued expenses |  | $ | 1.1 |
Total |  |  |  | $ | 0.0 |  |  |  |  | $ | 1.1 |
Effect of derivative instruments on the Condensed Consolidated Statements of Comprehensive Income | The effect of derivative instruments on the Condensed Consolidated Statements of Comprehensive Income for the three months ended July 4, 2015 was:
(in millions) |  |  |  |  |  |
Derivatives Designated as Cash Flow Hedging Instruments |  | Amount of Gain (Loss) on Derivatives Recognized in Accumulated Other Comprehensive Loss (Effective Portion) |  | Location of Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Earnings (Effective Portion) |  | Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Earnings (Effective Portion)
Interest rate contracts |  | $ | — |  |  | Interest expense |  | $ | (0.0 | )
Foreign exchange contracts |  | (1.2 | ) |  | Cost of sales |  | 4.5 |
Commodity contracts |  | (0.0 | ) |  | Cost of sales |  | 0.4 |
Total |  | $ | (1.2 | ) |  |  |  | $ | 4.9 |
Derivatives Designated as Fair Value Hedging Instruments |  | Location of Gain (Loss) on Derivatives Recognized in Earnings |  | Amount of Gain (Loss) on Derivatives Recognized in Earnings
Interest rate contracts |  | Interest expense |  | $ | 1.1 |
Total |  |  |  | $ | 1.1 |
Other Hedging Activity |  | Location of Gain (Loss) on Derivatives Recognized in Earnings |  | Amount of Gain (Loss) on Derivatives Recognized in Earnings
Foreign exchange contracts |  | Cost of sales |  | $ | (2.3 | )
Foreign exchange contracts |  | Other income, net |  | (1.2 | )
Commodity contracts |  | Cost of sales |  | (1.9 | )
Total |  |  |  | $ | (5.4 | )
The effect of derivative instruments on the Condensed Consolidated Statements of Comprehensive Income for the six months ended July 4, 2015 was:
(in millions) |  |  |  |  |  |
Derivatives Designated as Cash Flow Hedging Instruments |  | Amount of Gain (Loss) on Derivatives Recognized in Accumulated Other Comprehensive Loss (Effective Portion) |  | Location of Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Earnings (Effective Portion) |  | Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Earnings (Effective Portion)
Interest rate contracts |  | $ | — |  |  | Interest expense |  | $ | (0.0 | )
Foreign exchange contracts |  | 5.5 |  |  | Cost of sales |  | 7.1 |
Commodity contracts |  | (0.4 | ) |  | Cost of sales |  | 1.0 |
Total |  | $ | 5.1 |  |  |  |  | $ | 8.1 |
Derivatives Designated as Fair Value Hedging Instruments |  | Location of Gain (Loss) on Derivatives Recognized in Earnings |  | Amount of Gain (Loss) on Derivatives Recognized in Earnings
Interest rate contracts |  | Interest expense |  | $ | 2.2 |
Total |  |  |  | $ | 2.2 |
Other Hedging Activity |  | Location of Gain (Loss) on Derivatives Recognized in Earnings |  | Amount of Gain (Loss) on Derivatives Recognized in Earnings
Foreign exchange contracts |  | Cost of sales |  | $ | 3.9 |
Foreign exchange contracts |  | Other income, net |  | (0.5 | )
Commodity contracts |  | Cost of sales |  | (4.2 | )
Total |  |  |  | $ | (0.8 | )
The effect of derivative instruments on the Condensed Consolidated Statements of Comprehensive Income for the three months ended June 28, 2014 was:
(in millions) |  |  |  |  |  |
Derivatives Designated as Cash Flow Hedging Instruments |  | Amount of Gain (Loss) on Derivatives Recognized in Accumulated Other Comprehensive Loss (Effective Portion) |  | Location of Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Earnings (Effective Portion) |  | Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Earnings (Effective Portion)
Foreign exchange contracts |  | $ | (0.9 | ) |  | Cost of sales |  | $ | (0.1 | )
Commodity contracts |  | 1.7 |  |  | Cost of sales |  | 0.5 |
Total |  | $ | 0.8 |  |  |  |  | $ | 0.4 |
Derivatives Designated as Fair Value Hedging Instruments |  | Location of Gain (Loss) on Derivatives Recognized in Earnings |  | Amount of Gain (Loss) on Derivatives Recognized in Earnings
Interest rate contracts |  | Interest expense |  | $ | 0.3 |
Total |  |  |  | $ | 0.3 |
Other Hedging Activity |  | Location of Gain (Loss) on Derivatives Recognized in Earnings |  | Amount of Gain (Loss) on Derivatives Recognized in Earnings
Foreign exchange contracts |  | Cost of sales |  | $ | (1.9 | )
Foreign exchange contracts |  | Other income, net |  | (0.6 | )
Total |  |  |  | $ | (2.5 | )
The effect of derivative instruments on the Condensed Consolidated Statements of Comprehensive Income for the six months ended June 28, 2014 was:
(in millions) |  |  |  |  |  |
Derivatives Designated as Cash Flow Hedging Instruments |  | Amount of Gain (Loss) on Derivatives Recognized in Accumulated Other Comprehensive Loss (Effective Portion) |  | Location of Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Earnings (Effective Portion) |  | Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Earnings (Effective Portion)
Foreign exchange contracts |  | $ | (0.9 | ) |  | Cost of sales |  | $ | (0.5 | )
Commodity contracts |  | 0.6 |  |  | Cost of sales |  | (1.7 | )
Total |  | $ | (0.3 | ) |  |  |  | $ | (2.2 | )
Derivatives Designated as Fair Value Hedging Instruments |  | Location of Gain (Loss) on Derivatives Recognized in Earnings |  | Amount of Gain (Loss) on Derivatives Recognized in Earnings
Interest rate contracts |  | Interest expense |  | $ | 0.3 |
Total |  |  |  | $ | 0.3 |
Other Hedging Activity |  | Location of Gain (Loss) on Derivatives Recognized in Earnings |  | Amount of Gain (Loss) on Derivatives Recognized in Earnings
Foreign exchange contracts |  | Cost of sales |  | $ | (2.4 | )
Foreign exchange contracts |  | Other income, net |  | (0.7 | )
Total |  |  |  | $ | (3.1 | )

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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=56946850&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=56946850&loc=SL5618551-113959 + Details
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- Definition Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5624163-113959 + Details
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