Quarterly report pursuant to Section 13 or 15(d)

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)

v3.3.0.814
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)
 9 Months Ended
Sep. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
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 September 30, 2015 and December 31, 2014:
 
(In Millions)
 
Derivative Assets
 
Derivative Liabilities
 
September 30, 2015
 
December 31, 2014
 
September 30, 2015
 
December 31, 2014
Derivative Instrument
Balance Sheet Location
 
Fair
Value
 
Balance
Sheet
Location
 
Fair
Value
 
Balance Sheet
Location
 
Fair
Value
 
Balance Sheet
Location
 
Fair
Value
Derivatives designated as hedging instruments under ASC 815:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Foreign Exchange Contracts
 
 
$
—

 
 
 
$
—

 
 
 
$
—

 
Other current liabilities
 
$
21.6

Total derivatives designated as hedging instruments under ASC 815
 
 
$
—

 
 
 
$
—

 
 
 
$
—

 
 
 
$
21.6

Derivatives not designated as hedging instruments under ASC 815:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Foreign Exchange Contracts
 
 
$
—

 
 
 
$
—

 
 
 
$
—

 
Other current liabilities
 
$
9.9

Customer Supply Agreement
Other current assets
 
9.8

 
Other current assets
 
63.2

 
 
 
—

 
 
 
—

Provisional Pricing Arrangements
Other current assets
 
0.6

 
 
 
—

 
Other current liabilities
 
0.8

 
Other current liabilities
 
9.5

Total derivatives not designated as hedging instruments under ASC 815
 
 
$
10.4

 
 
 
$
63.2

 
 
 
$
0.8

 
 
 
$
19.4

Total derivatives
 
 
$
10.4

 
 
 
$
63.2

 
 
 
$
0.8

 
 
 
$
41.0

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 September 30, 2015 and 2014:
 
(In Millions)
Derivatives in Cash Flow Hedging Relationships
Amount of Gain (Loss)
Recognized in OCI on Derivatives
 
Location of Gain (Loss)
Reclassified
from Accumulated OCI into Earnings
 
Amount of Gain (Loss)
Reclassified
from Accumulated
OCI into Earnings
(Effective Portion)
 
(Effective Portion)
 
(Effective Portion)
 
Three Months Ended
September 30,
 
 
 
Three Months Ended
September 30,
 
2015
 
2014
 
 
 
2015
 
2014
Australian Dollar Foreign
Exchange Contracts
   (hedge designation)
$
0.1

 
$
(12.6
)
 
Product revenues
 
$
(0.1
)
 
$
1.6

Australian Dollar Foreign
Exchange Contracts
(prior to de-designation)
—

 
—

 
Product revenues
 
(4.3
)
 
—

Canadian Dollar Foreign Exchange Contracts
   (hedge designation)
—

 
(7.4
)
 
Cost of goods sold and operating expenses
 
—

 
(1.0
)
Total
$
0.1

 
$
(20.0
)
 
 
 
$
(4.4
)
 
$
0.6

 
 
 
 
 
 
 
 
 
 
 
Nine Months Ended
September 30,
 
 
 
Nine Months Ended
September 30,
 
2015
 
2014
 
 
 
2015
 
2014
Australian Dollar Foreign
Exchange Contracts
(hedge designation)
$
(2.0
)
 
$
(3.4
)
 
Product revenues
 
$
(7.4
)
 
$
(11.2
)
Australian Dollar Foreign
Exchange Contracts
 (prior to de-designation)
(4.5
)
 
—

 
Product revenues
 
(11.1
)
 
—

Canadian Dollar Foreign Exchange Contracts
    (hedge designation)
—

 
(9.2
)
 
Cost of goods sold and operating expenses
 
—

 
(7.1
)
Canadian Dollar Foreign Exchange Contracts
(prior to de-designation)
—

 
—

 
Cost of goods sold and operating expenses
 
—

 
(0.5
)
 
$
(6.5
)
 
$
(12.6
)
 
 
 
$
(18.5
)
 
$
(18.8
)
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 September 30, 2015 and 2014:
(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
 
 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
 
2015
 
2014
 
2015
 
2014
Foreign Exchange Contracts
Other non-operating income (expense) (1)
$
(1.1
)
 
$
—

 
$
(3.6
)
 
$
(3.3
)
Foreign Exchange Contracts
Product revenues
(2.1
)
 
—

 
(11.8
)
 
—

Commodity Contracts
Cost of goods sold and operating expenses
—

 
—

 
(3.4
)
 
—

Customer Supply Agreement
Product revenues
11.6

 
62.6

 
22.1

 
124.6

Provisional Pricing Arrangements
Product revenues
7.6

 
2.3

 
(0.2
)
 
(17.9
)
 
 
$
16.0

 
$
64.9

 
$
3.1

 
$
103.4


                                                                     
(1)  
At September 30, 2014, the location of the Gain (Loss) Recognized in Income on Derivative for Foreign Exchange Contracts was Cost of goods sold and operating expenses.