| Fair value and location of the Company's derivative instruments on its Consolidated Balance Sheets |
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Balance Sheet Location
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February 29,
2012
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February 28,
2011
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| (in millions) |
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Derivative instruments designated as hedging instruments
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Foreign currency contracts:
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Prepaid expenses and other
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$ |
7.9 |
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$ |
11.0 |
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Other accrued expenses and liabilities
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$ |
2.7 |
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$ |
3.4 |
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Other assets, net
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$ |
3.6 |
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$ |
2.8 |
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Other liabilities
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$ |
2.2 |
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$ |
0.9 |
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Interest rate swap contracts:
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Other accrued expenses and liabilities
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$ |
15.0 |
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$ |
6.1 |
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Other assets, net
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$ |
— |
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$ |
1.7 |
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Other liabilities
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$ |
30.7 |
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$ |
— |
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Derivative instruments not designated as hedging instruments
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Foreign currency contracts:
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Prepaid expenses and other
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$ |
1.4 |
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$ |
3.2 |
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Other accrued expenses and liabilities
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$ |
1.1 |
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$ |
1.0 |
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Other assets, net
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$ |
0.3 |
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|
$ |
— |
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Other liabilities
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$ |
0.4 |
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$ |
— |
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| Effect of the Company's derivative instruments designated in cash flow hedging relationships and undesignated derivative instruments on its Consolidated Statements of Operations and Other Comprehensive Income, net of income tax effect |
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Derivative Instruments in
Designated Cash Flow
Hedging
Relationships
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Net
Gain (Loss)
Recognized
in OCI
(Effective
portion)
|
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|
Location of Net Gain (Loss)
Reclassified from AOCI to
Income (Effective
portion)
|
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Net
Gain (Loss)
Reclassified
from AOCI
to Income
(Effective
portion)
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| (in millions) |
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For the Year Ended February 29, 2012
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|
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Foreign currency contracts
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$ |
5.8 |
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Sales
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$ |
6.4 |
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Foreign currency contracts
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3.1 |
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Cost of product sold
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1.6 |
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Interest rate swap contracts
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(27.2 |
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Interest expense, net
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(3.8 |
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Total
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$ |
(18.3 |
) |
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Total
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$ |
4.2 |
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For the Year Ended February 28, 2011
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Foreign currency contracts
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$ |
11.2 |
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Sales
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$ |
13.6 |
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Foreign currency contracts
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0.6 |
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Cost of product sold
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|
9.5 |
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Interest rate swap contracts
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(2.7 |
) |
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Interest expense, net
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|
— |
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Total
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$ |
9.1 |
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Total
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$ |
23.1 |
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For the Year Ended February 28, 2010
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Foreign currency contracts
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$ |
39.3 |
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Sales
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$ |
18.6 |
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Foreign currency contracts
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13.2 |
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Cost of product sold
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(4.6 |
) |
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Foreign currency contracts
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12.4 |
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Selling, general and administrative expenses
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22.8 |
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Interest rate swap contracts
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(4.7 |
) |
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Interest expense, net
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(27.7 |
) |
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Total
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$ |
60.2 |
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Total
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$ |
9.1 |
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Derivative Instruments in
Designated Cash Flow
Hedging
Relationships
|
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Location of Net Gain
Recognized in Income
(Ineffective portion)
|
|
Net Gain
Recognized
in Income
(Ineffective
portion)
|
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| (in millions) |
|
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|
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For the Year Ended February 29, 2012
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Foreign currency contracts
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|
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Selling, general and administrative expenses
|
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$ |
2.2 |
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For the Year Ended February 28, 2011
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Foreign currency contracts
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|
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Selling, general and administrative expenses
|
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$ |
1.4 |
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For the Year Ended February 28, 2010
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Foreign currency contracts
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Selling, general and administrative expenses
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$ |
2.5 |
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Non-Derivative Instruments in
Designated Net Investment
Hedging
Relationships
|
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Net
Gain
(Loss)
Recognized
in OCI
(Effective
portion)
|
|
|
Location of Net Gain
Reclassified from AOCI to
Income (Effective portion)
|
|
Net
Gain
Reclassified
from AOCI to
Income
(Effective
portion)
|
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| (in millions) |
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For the Year Ended February 28, 2011
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Sterling Senior Debt Instrument
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$ |
— |
|
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Selling, general and administrative expenses
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$ |
17.8 |
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The effect of the Company’s undesignated derivative instruments on its Consolidated Statements of
Operations for the years ended February 29, 2012, February 28, 2011, and February 28, 2010, is as follows:
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Derivative Instruments not
Designated as Hedging Instruments
|
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|
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Location of Net (Loss) Gain
Recognized in Income
|
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Net
(Loss) Gain
Recognized
in Income
|
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| (in millions) |
|
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|
|
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|
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For the Year Ended February 29, 2012
|
|
|
|
|
|
|
|
|
|
Foreign currency contracts
|
|
|
|
Selling, general and administrative expenses
|
|
$ |
(1.9 |
) |
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|
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|
|
|
|
|
|
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For the Year Ended February 28, 2011
|
|
|
|
|
|
|
|
|
|
Foreign currency contracts
|
|
|
|
Selling, general and administrative expenses
|
|
$ |
4.3 |
|
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|
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|
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|
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|
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For the Year Ended February 28, 2010
|
|
|
|
|
|
|
|
|
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Foreign currency contracts
|
|
|
|
Selling, general and administrative expenses
|
|
$ |
12.8 |
|
|
Interest rate swap contracts
|
|
|
|
Interest expense, net
|
|
|
(0.4 |
) |
| |
|
|
|
|
|
|
|
|
| |
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Total
|
|
$ |
12.4 |
|
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