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Quarterly report pursuant to Section 13 or 15(d)

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)

v2.4.0.8
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)
 9 Months Ended
Sep. 30, 2013
Derivative Instruments and Hedging Activities Disclosure [Abstract] Ìý
Schedule Of Derivative Instruments In Statement Of Financial Position, Fair Value
The following table presents the fair value of our derivative instruments and the classification of each in the Statements of Unaudited Condensed Consolidated Financial Position as of SeptemberÌý30, 2013 and DecemberÌý31, 2012:
Ìý
(In Millions)
Ìý
Derivative Assets
Ìý
Derivative Liabilities
Ìý
SeptemberÌý30, 2013
Ìý
DecemberÌý31, 2012
Ìý
SeptemberÌý30, 2013
Ìý
December 31, 2012
Derivative
Instrument
Balance Sheet Location
Ìý
Fair
Value
Ìý
Balance
Sheet
Location
Ìý
Fair
Value
Ìý
Balance Sheet
Location
Ìý
Fair
Value
Ìý
Balance Sheet
Location
Ìý
Fair
Value
Derivatives designated as hedging instruments under ASC 815:
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Interest-rate Swaps
Derivative assets
Ìý
$
1.7

Ìý
Ìý
Ìý
$
—

Ìý
Ìý
Ìý
$
—

Ìý
Ìý
Ìý
$
—

Foreign Exchange Contracts
Derivative assets
Ìý
4.3

Ìý
Derivative assets
Ìý
16.2

Ìý
Derivative liabilities
Ìý
22.0

Ìý
Derivative liabilities
Ìý
1.9

Total derivatives designated as hedging instruments under ASC 815
Ìý
Ìý
$
6.0

Ìý
Ìý
Ìý
$
16.2

Ìý
Ìý
Ìý
$
22.0

Ìý
Ìý
Ìý
$
1.9

Derivatives not designated as hedging instruments under ASC 815:
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Commodity Contracts
Ìý
Ìý
$
—

Ìý
Ìý
Ìý
$
—

Ìý
Derivative liabilities
Ìý
$
2.7

Ìý
Ìý
Ìý
$
—

Customer Supply Agreements
Derivative assets
Ìý
62.1

Ìý
Derivative assets
Ìý
58.9

Ìý
Ìý
Ìý
—

Ìý
Ìý
Ìý
—

Provisional Pricing Arrangements
Derivative assets
Ìý
4.6

Ìý
Derivative assets
Ìý
3.5

Ìý
Derivative liabilities
Ìý
11.4

Ìý
Derivative liabilities
Ìý
11.3

Total derivatives not designated as hedging instruments under ASC 815
Ìý
Ìý
$
66.7

Ìý
Ìý
Ìý
$
62.4

Ìý
Ìý
Ìý
$
14.1

Ìý
Ìý
Ìý
$
11.3

Total derivatives
Ìý
Ìý
$
72.7

Ìý
Ìý
Ìý
$
78.6

Ìý
Ìý
Ìý
$
36.1

Ìý
Ìý
Ìý
$
13.2

Schedule Of Derivative Gains (Losses) Recognized In Accumulated Other Comprehensive Income
The following summarizes the effect of our derivatives designated as cash flow hedging instruments, net of tax in Accumulated other comprehensive loss in the Statements of Unaudited Condensed Consolidated Operations for the three and nine months ended SeptemberÌý30, 2013 and 2012:
Ìý
(In Millions)
Derivatives in Cash Flow
Amount of Gain (Loss)
Recognized in OCI on Derivative
Ìý
Location of Gain (Loss)
Reclassified
from Accumulated OCI into Earnings
Ìý
Amount of Gain (Loss)
Reclassified
from Accumulated
OCI into Earnings
Hedging Relationships
(Effective Portion)
Ìý
(Effective Portion)
Ìý
(Effective Portion)
Ìý
Three Months Ended
September 30,
Ìý
Ìý
Ìý
Three Months Ended
September 30,
Ìý
2013
Ìý
2012
Ìý
Ìý
Ìý
2013
Ìý
2012
Australian Dollar Foreign
Exchange Contracts
(hedge designation)
$
2.9

Ìý
$
1.4

Ìý
Product revenues
Ìý
$
(8.9
)
Ìý
$
5.1

Canadian Dollar Foreign Exchange Contracts (hedge designation)
9.2

Ìý
11.3

Ìý
Cost of goods sold and operating expenses
Ìý
(7.3
)
Ìý
1.3

Total
$
12.1

Ìý
$
12.7

Ìý
Ìý
Ìý
$
(16.2
)
Ìý
$
6.4

Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Nine Months Ended
September 30,
Ìý
Ìý
Ìý
Nine Months Ended
September 30,
Ìý
2013
Ìý
2012
Ìý
Ìý
Ìý
2013
Ìý
2012
Australian Dollar Foreign
Exchange Contracts
(hedge designation)
$
(25.2
)
Ìý
$
7.5

Ìý
Product revenues
Ìý
$
(4.5
)
Ìý
$
7.8

Canadian Dollar Foreign Exchange Contracts (hedge designation)
(9.9
)
Ìý
6.2

Ìý
Cost of goods sold and operating expenses
Ìý
(7.5
)
Ìý
1.6

Ìý
$
(35.1
)
Ìý
$
13.7

Ìý
Ìý
Ìý
$
(12.0
)
Ìý
$
9.4

Schedule of Derivatives in Fair Value Hedging Relationships, Statements of Financial Performance and Financial Position, Location
The net gain or loss recognized in Other non-operating income (expense) for the three and nine months ended SeptemberÌý30, 2013 and 2012 were as follows:
(In Millions)
Derivatives in Fair Value Hedging Relationships
Location of Gain Recognized in
Income on Derivative
Net Gain Recognized in Income on Derivative
Ìý
Ìý
Three Months Ended
September 30,
Ìý
Nine Months Ended
September 30,
Ìý
Ìý
2013
Ìý
2012
Ìý
2013
Ìý
2012
Interest Rate Swaps
Other non-operating income (expense)
$
0.1

Ìý
$
—

Ìý
$
0.1

Ìý
$
—

Schedule Of Derivatives Not Designated As Hedging Instruments Statements Of Financial Performance Location Table
The following summarizes the effect of our derivatives that are not designated as hedging instruments in the Statements of Unaudited Condensed Consolidated Operations for the three and nine months ended SeptemberÌý30, 2013 and 2012:
(In Millions)
Derivatives Not Designated as Hedging Instruments
Location of Gain (Loss) Recognized in
Income on Derivative
Amount of Gain/(Loss) Recognized in Income on Derivative
Ìý
Ìý
Three Months Ended
September 30,
Ìý
Nine Months Ended
September 30,
Ìý
Ìý
2013
Ìý
2012
Ìý
2013
Ìý
2012
Foreign Exchange Contracts
Other income (expense)
$
—

Ìý
$
—

Ìý
$
—

Ìý
$
0.3

Foreign Exchange Contracts
Income (Loss) from Discontinued Operations, net of tax
—

Ìý
1.1

Ìý
—

Ìý
1.1

Commodity Contracts
Other non-operating income (expense)
(2.7
)
Ìý
—

Ìý
(2.7
)
Ìý
—

Customer Supply Agreements
Product revenues
53.9

Ìý
49.8

Ìý
113.4

Ìý
131.8

Provisional Pricing Arrangements
Product revenues
24.3

Ìý
(10.3
)
Ìý
(6.8
)
Ìý
(10.3
)
Total
Ìý
$
75.5

Ìý
$
40.6

Ìý
$
103.9

Ìý
$
122.9