Mead Johnson Nutrition 10-Q 28 Apr 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2016	Apr. 25, 2016
Document and Entity Information
Entity Registrant Name	Mead Johnson Nutrition Co
Entity Central Index Key	1,452,575
Document Type	10-Q
Document Period End Date	Mar. 31, 2016
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Entity Common Stock, Shares Outstanding		186,663,922

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Income Statement [Abstract]
NET SALES	$ 962.1	$ 1,094.4
Cost of Products Sold	347.6	393.5
GROSS PROFIT	614.5	700.9
Operating Expenses:
Selling, General and Administrative	198.9	233.2
Advertising and Promotion	151.8	144.4
Research and Development	25.4	25.9
Other Operating (Income) Expense, Net	88.3	12.2
EARNINGS BEFORE INTEREST AND INCOME TAXES	150.1	285.2
Interest Expense—net	26.2	13.8
EARNINGS BEFORE INCOME TAXES	123.9	271.4
Provision for Income Taxes	47.2	64.3
NET EARNINGS	76.7	207.1
Less Net Earnings/(Loss) Attributable to Noncontrolling Interests	4	(0.3)
NET EARNINGS ATTRIBUTABLE TO SHAREHOLDERS	$ 72.7	$ 207.4
Earnings per Share—Basic
Net earnings attributable to shareholders (in dollars per share)	$ 0.39	$ 1.02
Earnings per Share—Diluted
Net earnings attributable to shareholders (in dollars per share)	$ 0.39	$ 1.02
Weighted average shares - basic (in shares)	186.6	202.4
Weighted average shares - diluted (in shares)	186.7	202.9
Dividends declared per share (in dollars per share)	$ 0.4125	$ 0.4125

CONDENSED CONSOLIDATED STATEME3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Statement of Comprehensive Income [Abstract]
Net Earnings	$ 76.7	$ 207.1
Foreign Currency Translation Adjustments
Translation Adjustments	5.9	(37.7)
Tax Effect on Foreign Currency Translation Adjustments	0.2	0.2
Deferred Gains/(Losses) on Derivatives Qualifying as Hedges
Deferred Gains/(Losses) on Derivatives Qualifying as Hedges for the Period	(11.6)	7.4
Reclassification Adjustment for (Gains)/Losses Included in Net Earnings	(5.5)	(1.9)
Tax Effect on Deferred Gains/(Losses) on Derivatives Qualifying as Hedges	3.8	(1.5)
Pension and Other Post-employment Benefits
OTHER COMPREHENSIVE LOSS	(7.2)	(33.5)
COMPREHENSIVE INCOME	69.5	173.6
Less Comprehensive Income/(Loss) Attributable to Noncontrolling Interests	3.2	(0.9)
COMPREHENSIVE INCOME ATTRIBUTABLE TO SHAREHOLDERS	$ 66.3	$ 174.5

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
CURRENT ASSETS:
Cash and Cash Equivalents	$ 1,702.3	$ 1,701.4
Receivables—net of allowances of $5.2 and $5.4, respectively	368.2	342.5
Inventories	486.9	484.9
Income Taxes Receivable	10.2	13.2
Prepaid Expenses and Other Assets	66.8	60.4
Total Current Assets	2,634.4	2,602.4
Property, Plant and Equipment – net	927	964
Goodwill	120	126
Other Intangible Assets – net	50.5	54.9
Deferred Income Taxes – net of valuation allowance	124.1	118.5
Other Assets	160.8	132.3
TOTAL	4,016.8	3,998.1
CURRENT LIABILITIES:
Short-term Borrowings	3.1	3
Accounts Payable	473.9	481.5
Dividends Payable	77.7	77.8
Accrued Expenses	224.8	213
Accrued Rebates and Returns	378.1	376.8
Deferred Income	13.4	35.5
Income Taxes Payable	71.3	65.7
Total Current Liabilities	1,242.3	1,253.3
Long-Term Debt	3,012.6	2,981
Deferred Income Taxes	6.6	8.7
Pension and Other Post-employment Liabilities	138.3	132.4
Other Liabilities	209.4	215.2
Total Liabilities	$ 4,609.2	$ 4,590.6
COMMITMENTS AND CONTINGENCIES
REDEEMABLE NONCONTROLLING INTEREST	$ 0	$ 0
Shareholders’ Equity
Common Stock, $0.01 par value: 3,000 authorized, 191.6 and 191.4 issued, respectively	1.9	1.9
Additional Paid-in/(Distributed) Capital	(552.8)	(564.2)
Retained Earnings	632.3	640.4
Treasury Stock – at cost	(362.6)	(362.6)
Accumulated Other Comprehensive Loss	(354.2)	(347.8)
Total Shareholders’ Equity/(Deficit)	(635.4)	(632.3)
Noncontrolling Interests	43	39.8
Total Equity/(Deficit)	(592.4)	(592.5)
TOTAL	$ 4,016.8	$ 3,998.1

CONDENSED CONSOLIDATED BALANCE5

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Receivables, allowances (in dollars)	$ 5.2	$ 5.4
Common Stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common Stock, authorized	3,000,000,000	3,000,000,000
Common Stock, issued	191,600,000	191,400,000

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY (Unaudited) - USD ($) $ in Millions	Total	Common Stock	Additional Paid-in (Distributed) Capital	Retained Earnings	Treasury Stock	Accumulated Other Comprehensive Loss	Non- controlling Interests	Parent
Beginning balance at Dec. 31, 2014		$ 2.1	$ (641.3)	$ 1,775	$ (362.6)	$ (198.9)	$ 9.5	$ 583.8
Increase (Decrease) in Stockholders' Equity
Stock-based Compensation Awards			(15.8)	(7.2)				(8.6)
Cash Dividends Declared				(83.8)				(83.8)
Net Earnings	$ 207.4			207.4
Net Earnings	0.3						(0.6)
Net Earnings								206.8
Redeemable Noncontrolling Interest Accretion				(6.1)				(6.1)
Other Comprehensive Income/(Loss)	(33.5)					(32.9)		(32.9)
Ending balance at Mar. 31, 2015		2.1	(625.5)	1,885.3	(362.6)	(231.8)	8.9	676.4
Redeemable noncontrolling interest, beginning at Dec. 31, 2014	66
Increase (Decrease) in Temporary Equity
Net earnings	0.3
Redeemable noncontrolling interest accretion	6.1
Other Comprehensive Income/(Loss)	(0.6)
Redeemable noncontrolling interest, ending at Mar. 31, 2015	71.8
Beginning balance at Dec. 31, 2015	(592.5)	1.9	(564.2)	640.4	(362.6)	(347.8)	39.8	(592.5)
Increase (Decrease) in Stockholders' Equity
Stock-based Compensation Awards			(11.4)	(3.5)				(7.9)
Cash Dividends Declared				(77.3)				(77.3)
Net Earnings	72.7			72.7
Net Earnings	(4)						4
Net Earnings								76.7
Other Comprehensive Income/(Loss)	(7.2)					(6.4)	(0.8)	(7.2)
Ending balance at Mar. 31, 2016	(592.4)	$ 1.9	$ (552.8)	$ 632.3	$ (362.6)	$ (354.2)	$ 43	$ (592.4)
Redeemable noncontrolling interest, beginning at Dec. 31, 2015	0
Redeemable noncontrolling interest, ending at Mar. 31, 2016	$ 0

CONDENSED CONSOLIDATED STATEME7

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY (Unaudited) CONDENSED CONSOLIDATED STATEMENTS OF EQUITY (Unaudited)(Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Statement of Stockholders' Equity [Abstract]
Dividends declared per share (in dollars per share)	$ 0.4125	$ 0.4125
Adjustment to Additional Paid in Capital, Income Tax Effect from Share-based Compensation, Net	$ (0.3)	$ 3

CONDENSED CONSOLIDATED STATEME8

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Earnings	$ 76.7	$ 207.1
Adjustments to Reconcile Net Earnings to Net Cash Provided by Operating Activities:
Depreciation and Amortization	24.9	24.1
Venezuela long-lived asset impairments	45.9	0
Other	36	22.9
Changes in Assets and Liabilities	(23.4)	22.1
Pension and Other Post-employment Benefit Contributions	0	(1.7)
Net Cash Provided by Operating Activities	160.1	274.5
CASH FLOWS FROM INVESTING ACTIVITIES:
Payments for Capital Expenditures	(55.6)	(46.1)
Proceeds from Sale of Property, Plant and Equipment	0.1	0.2
Net Cash Used in Investing Activities	(55.5)	(45.9)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from Short-term Borrowings	0.4	0
Repayments of Short-term Borrowings	(0.1)	(4)
Payments of Debt Issuance Costs	(0.1)	0
Payments of Dividends	(77.4)	(76)
Proceeds and Excess Tax Benefit from Share-based Compensation	3.7	6.9
Stock-based Compensation Tax Withholdings	(3.5)	(7.2)
Net Cash Used in Financing Activities	(77)	(80.3)
Effects of Changes in Exchange Rates on Cash and Cash Equivalents	(26.7)	(12.1)
NET INCREASE IN CASH AND CASH EQUIVALENTS	0.9	136.2
CASH AND CASH EQUIVALENTS:
Beginning of Period	1,701.4	1,297.7
End of Period	$ 1,702.3	$ 1,433.9

ORGANIZATION

ORGANIZATION	3 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION	ORGANIZATION Mead Johnson Nutrition Company (“MJN” or the “Company”) manufactures, distributes and sells infant formula, children’s nutrition and other nutritional products. MJN has a broad product portfolio, which extends across routine and specialty infant formulas, children’s milks and milk modifiers, dietary supplements for pregnant and breastfeeding mothers, pediatric vitamins, and products for pediatric metabolic disorders. These products are generally sold to distributors and retailers and are promoted to healthcare professionals, and, where permitted by regulation and policy, directly to consumers.

ACCOUNTING POLICIES

ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
ACCOUNTING POLICIES	ACCOUNTING POLICIES Basis of Presentation— The Company prepared the accompanying unaudited condensed consolidated financial statements in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X issued by the Securities and Exchange Commission (“SEC”). Under those rules, certain footnotes and other financial information that are normally required by GAAP for annual financial statements have been condensed or omitted. The Company is responsible for the financial statements and the related notes included in this Form 10-Q. The condensed consolidated financial statements include all of the normal and recurring adjustments necessary for the fair presentation of the Company’s financial position as of March 31, 2016 and December 31, 2015 , and results of operations and cash flows for the three months ended March 31, 2016 and 2015 . Intercompany balances and transactions have been eliminated. Revenues, expenses, assets and liabilities can vary during each quarter of the year. Accordingly, the results and trends in these unaudited condensed consolidated financial statements may not be indicative of full-year operating results or future performance. The accounting policies used in preparing these condensed consolidated financial statements are the same as those used to prepare the Company’s annual report on Form 10-K for the year ended December 31, 2015 (“ 2015 Form 10-K”). These unaudited condensed consolidated financial statements and the related notes should be read in conjunction with the audited year-end financial statements and accompanying notes included in the Company’s 2015 Form 10-K. Recently Issued Accounting Standards— In March 2016, the FASB issued ASU No. 2016-09, Compensation-Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting . This update simplifies several aspects of the accounting for share-based compensation arrangements, including accounting for income taxes, forfeitures and statutory tax withholding requirements as well as classification of related amounts on the statement of cash flows. The ASU is effective for fiscal years beginning after December 15, 2016, with early adoption permitted. The Company is currently evaluating the effect that the updated standard will have on its consolidated financial statements and related disclosures. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842). The updated standard requires most leases to be reflected on the balance sheet. It also aligns many of the underlying principles of the new lessor model with those of ASC No. 606, Revenue from Contracts with Customers . The updated standard becomes effective for fiscal years beginning after December 15, 2018, with early adoption permitted. The Company is currently evaluating the effect that the updated standard will have on its consolidated financial statements and related disclosures. In July 2015, the FASB issued ASU No. 2015-11, Simplifying the Measurement of Inventory (Topic 330) . This update simplifies the guidance on the subsequent measurement of inventory. GAAP currently requires an entity to measure inventory at the lower of cost or market. Previously, market could be replacement cost, net realizable value or net realizable value less an approximate normal profit margin. Under the new standard, inventory should be valued at the lower of cost or net realizable value. The ASU is effective for fiscal years beginning after December 15, 2016, with early adoption permitted. The Company is currently evaluating the effect, if any, that the updated standard will have on its consolidated financial statements and related disclosures. In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) . The updated standard will replace most existing revenue recognition guidance in GAAP when it becomes effective and permits the use of either the retrospective or cumulative effect transition method. The updated standard becomes effective for MJN in the first quarter of 2018. The Company is currently evaluating the impact that the updated standard will have on its consolidated financial statements and related disclosures.

EARNINGS PER SHARE

EARNINGS PER SHARE	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE The Company uses the two-class method to calculate earnings per share. The numerator for basic and diluted earnings per share is net earnings attributable to shareholders reduced by dividends and undistributed earnings attributable to unvested shares. The denominator for basic earnings per share is the weighted-average shares outstanding during the period. The denominator for diluted earnings per share is the weighted-average number of shares outstanding adjusted for the effect of dilutive stock options and performance share awards. The following table presents the calculation of basic and diluted earnings per share: Three Months Ended March 31, (Dollars and shares in millions, except per share data) 2016 2015 Basic earnings per share: Weighted-average shares outstanding 186.6 202.4 Net earnings attributable to shareholders $ 72.7 $ 207.4 Dividends and undistributed earnings attributable to unvested shares (0.3 ) (0.4 ) Net earnings attributable to shareholders used for basic earnings per share calculation $ 72.4 $ 207.0 Net earnings attributable to shareholders per share $ 0.39 $ 1.02 Diluted earnings per share: Weighted-average shares outstanding 186.6 202.4 Incremental shares outstanding assuming the exercise/vesting of dilutive stock options/performance shares 0.1 0.5 Weighted-average shares — diluted 186.7 202.9 Net earnings attributable to shareholders $ 72.7 $ 207.4 Dividends and undistributed earnings attributable to unvested shares (0.3 ) (0.4 ) Net earnings attributable to shareholders used for diluted earnings per share calculation $ 72.4 $ 207.0 Net earnings attributable to shareholders per share $ 0.39 $ 1.02 Potential shares outstanding from all stock-based awards were 3.6 million and 2.9 million as of March 31, 2016 and 2015 , respectively, of which 3.5 million and 2.4 million were not included in the diluted earnings per share calculation for the three months ended March 31, 2016 and 2015 , respectively.

INCOME TAXES

INCOME TAXES	3 Months Ended
	Mar. 31, 2016
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES For the three months ended March 31, 2016 and 2015 , the effective tax rate (“ETR”) was 38.1% and 23.7% , respectively. The ETR increase was primarily due to the Company’s Venezuelan subsidiary which incurred a remeasurement loss on its monetary assets and an impairment charge on its long-lived assets in 2016 , both of which provided no tax benefit. See Note 17 for additional information. The Company’s gross reserve for uncertain tax positions including penalties and interest, as of March 31, 2016 and December 31, 2015 , was $182.8 million and $167.0 million , respectively. The Company believes that it has adequately provided for all uncertain tax positions. The Company is currently under examination by taxing authorities in various jurisdictions in which it operates, including its two largest businesses in the United States and China. It is reasonably possible that new issues may be raised by tax authorities and that these issues may require increases in the balance of the reserve for uncertain tax positions. Pursuant to the Amended and Restated Tax Matters Agreement dated December 18, 2009, Bristol-Myers Squibb Company (“BMS”), the Company’s former parent, maintains responsibility for all uncertain tax positions which may exist in the pre-initial public offering period or which may exist as a result of the initial public offering transaction. BMS has an obligation to the Company related to uncertain tax positions, including penalties and interest, of $11.2 million and $11.1 million as of March 31, 2016 and December 31, 2015 , respectively.

SEGMENT INFORMATION

SEGMENT INFORMATION	3 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION MJN operates in four geographic operating segments: Asia, Europe, Latin America and North America. Based on this operating segmentation, the chief operating decision maker regularly assesses information for decision making purposes, including allocation of resources. Due to similarities between North America and Europe, the Company aggregates these two operating segments into one reportable segment. As a result, the Company has three reportable segments: Asia, Latin America and North America/Europe. Corporate and Other consists of unallocated global business support activities, including research and development, marketing, supply chain, and general and administrative expenses; net actuarial gains and losses related to defined benefit pension and other post-employment plans; and income or expenses incurred within the operating segments that are not reflective of underlying operations and affect the comparability of the operating segments’ results. The following table summarizes net sales and earnings before interest and income taxes for each of the reportable segments: Three Months Ended March 31, Net Sales Earnings Before Interest and Income Taxes (Dollars in millions) 2016 2015 2016 2015 Asia $ 500.6 $ 581.0 $ 169.1 $ 231.5 Latin America 160.3 204.4 40.8 57.3 North America/Europe 301.2 309.0 82.0 78.3 Total reportable segments 962.1 1,094.4 291.9 367.1 Corporate and Other — — (141.8 ) (81.9 ) Total $ 962.1 $ 1,094.4 $ 150.1 $ 285.2

RESTRUCTURING RESTRUCTURING

RESTRUCTURING RESTRUCTURING	3 Months Ended
	Mar. 31, 2016
Restructuring and Related Activities [Abstract]
RESTRUCTURING	RESTRUCTURING During the third quarter of 2015, the Company approved a plan to implement a business productivity program referred to as “Fuel for Growth,” which is anticipated to be implemented over a three-year period. Fuel for Growth is designed to improve operating efficiencies and reduce costs. Fuel for Growth is expected to improve profitability and create additional investments behind brand building and growth initiatives. Fuel for Growth focuses on the optimization of resources within various operating functions and certain third party costs across the business. A summary of restructuring charges incurred during the three months ended March 31, 2016 and related reserves associated with Fuel for Growth as of March 31, 2016 is as follows: Restructuring Charges Three Months Ended (Dollars in millions) March 31, 2016 Other (Income)/Expenses- net Severance and Employee Benefits $ 8.2 Other Exist Costs 0.6 Asset Write-off 0.3 $ 9.1 Restructuring Reserves Severance and Employee Benefits (1) Contract Termination (2) Other Exist Costs (Dollars in millions) Balance at December 31, 2015 $ 9.5 $ 10.3 $ — Charges 8.2 — 0.6 Cash Payments (6.9 ) — (0.6 ) Balance at March 31, 2016 $ 10.8 $ 10.3 $ — (1) Included in accrued expenses on the balance sheet . (2) Included in accrued expenses and other liabilities on the balance sheet. Restructuring charges are included in Corporate and Other , and the remainder of severance pay and benefits will be paid out during the next twelve months . The contract termination costs will be paid over a period from 2017 to 2019.

EMPLOYEE STOCK BENEFIT PLANS

EMPLOYEE STOCK BENEFIT PLANS	3 Months Ended
	Mar. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
EMPLOYEE STOCK BENEFIT PLANS	EMPLOYEE STOCK BENEFIT PLANS The following table summarizes stock-based compensation expense related to stock options, performance share awards and restricted stock units. Three Months Ended March 31, (Dollars in millions) 2016 2015 Stock options $ 2.1 $ 1.9 Performance share awards 2.3 4.4 Restricted stock units 3.4 2.7 Total pre-tax stock-based compensation expense $ 7.8 $ 9.0 Net tax benefit related to stock-based compensation expense $ (2.7 ) $ (3.1 ) During the three months ended March 31, 2016 , the Company granted the following awards: (Shares in millions) Options/Shares Granted Weighted- Average Grant Date Fair Value Stock options 1.1 $ 13.87 Performance share awards 0.2 $ 70.48 Restricted stock units 0.3 $ 73.76 As of March 31, 2016 , the Company had the following award expense yet to be recognized: (Dollars in millions) Unrecognized Compensation Expense Expected Weighted-Average Period to be Recognized (years) Stock options $ 20.3 2.1 Performance share awards 10.6 1.5 Restricted stock units 45.5 2.8 $ 76.4

PENSION AND OTHER POST-EMPLOYME

PENSION AND OTHER POST-EMPLOYMENT BENEFIT PLANS	3 Months Ended
	Mar. 31, 2016
General Discussion of Pension and Other Postretirement Benefits [Abstract]
PENSION AND OTHER POST-EMPLOYMENT BENEFIT PLANS	PENSION AND OTHER POST-EMPLOYMENT BENEFIT PLANS The net periodic benefit cost of the Company’s defined benefit pension and post-employment benefit plans includes: Three Months Ended March 31, Pension Benefits Other Benefits (Dollars in millions) 2016 2015 2016 2015 Service cost – benefits earned during the period $ 0.7 $ 0.8 $ 0.3 $ 0.3 Interest cost on projected benefit obligations 3.0 3.7 0.4 0.5 Expected return on plan assets (4.1 ) (3.5 ) — — Net periodic benefit cost $ (0.4 ) $ 1.0 $ 0.7 $ 0.8 Net Actuarial (Gains)/Losses 6.1 — — — Total net periodic expense/(benefit) $ 5.7 $ 1.0 $ 0.7 $ 0.8 The Company remeasures its U.S. pension plan when year-to-date aggregate lump sum settlements exceed anticipated interest costs for the year, and in each subsequent quarter of that fiscal year. During the first quarter of 2016, aggregate lump sum settlements exceeded anticipated annual interest costs for 2016. As such, the Company remeasured its U.S. pension plan in the first quarter of 2016. During the three months ended March 31, 2016 , the Company recognized a net actuarial loss of $6.1 million . During the three months ended March 31, 2015 , there was no remeasurement, and therefore no actuarial gain or loss was recognized. For the three months ended March 31, 2016, the Company made no contributions to pension plans. For the three months ended March 31, 2015, the Company made contributions of $1.7 million , primarily to U.S. pension plans.

OTHER (INCOME)_EXPENSES-NET

OTHER (INCOME)/EXPENSES-NET	3 Months Ended
	Mar. 31, 2016
Other Income and Expenses [Abstract]
OTHER (INCOME)/EXPENSES-NET	OTHER (INCOME)/EXPENSES - NET The components of other (income)/expenses - net were: Three Months Ended March 31, (Dollars in millions) 2016 2015 Venezuela long-lived asset impairments $ 45.9 $ — Foreign exchange (gains)/losses - net 33.7 (2.8 ) Restructuring, severance and other related costs 9.3 2.6 Legal settlements and other - net (0.6 ) 12.4 Other (income)/expenses - net $ 88.3 $ 12.2 During the three months ended March 31, 2016 , the Company recognized an impairment charge of $45.9 million on long-lived assets of its Venezuelan subsidiary. See Note 17 for additional information. Foreign exchange (gains)/losses - net for the three months ended March 31, 2016 included a $32.3 million loss related to the change in exchange rate used for remeasuring the monetary assets and liabilities of its Venezuelan subsidiary. See Note 17 for additional information. Foreign exchange (gains)/losses - net for the three months ended March 31, 2015 included a gain of $1.8 million as a result of the Company’s exchange of Bolivares Fuertes for U.S. dollars through a Venezuelan government exchange at a rate more favorable than the rate used to remeasure net monetary assets of its Venezuelan subsidiary. During the three months ended March 31, 2016 , restructuring, severance and other related costs included $9.1 million of restructuring costs in association with the Fuel for Growth program. See Note 6 for additional information. During the three months ended March 31, 2015 , legal settlements and other - net primarily included an accrual made in connection with the SEC settlement disclosed by the Company in July 2015.

NET EARNINGS ATTRIBUTABLE TO NO

NET EARNINGS ATTRIBUTABLE TO NONCONTROLLING INTERESTS	3 Months Ended
	Mar. 31, 2016
Noncontrolling Interest [Abstract]
NET EARNINGS ATTRIBUTABLE TO NONCONTROLLING INTERESTS	NET EARNINGS ATTRIBUTABLE TO NONCONTROLLING INTERESTS Net earnings attributable to noncontrolling interests consists of a 11% , 10% and 10% interest held by third parties in operating entities in China, Argentina and Indonesia, respectively.

INVENTORIES

INVENTORIES	3 Months Ended
	Mar. 31, 2016
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES The major categories of inventories were as follows: (Dollars in millions) March 31, 2016 December 31, 2015 Finished goods $ 234.0 $ 251.7 Work in process 73.7 70.3 Raw and packaging materials 179.2 162.9 Inventories $ 486.9 $ 484.9

LONG-LIVED ASSETS

LONG-LIVED ASSETS	3 Months Ended
	Mar. 31, 2016
Property, Plant and Equipment [Abstract]
LONG-LIVED ASSETS	12. LONG-LIVED ASSETS Property, Plant and Equipment - net The major categories of property, plant and equipment were as follows: (Dollars in millions) March 31, 2016 December 31, 2015 Land $ 8.3 $ 12.3 Buildings and improvements 724.2 729.6 Machinery, equipment and fixtures 797.8 786.5 Construction in progress 102.2 123.6 Accumulated depreciation (705.5 ) (688.0 ) Property, plant and equipment — net $ 927.0 $ 964.0 During the three months ended March 31, 2016 , the Company recognized an impairment charge of $45.9 million on long-lived assets of its Venezuelan subsidiary. See Note 17 for additional information. Other Intangible Assets - net The Company tests intangible assets not subject to amortization for impairment in the third quarter of each year and whenever an event occurs or circumstances change that indicate that it is more likely than not that the asset is impaired. No events have occurred through March 31, 2016 that would require the Company to review intangible assets not subject to amortization for impairment subsequent to the review performed in the third quarter of 2015 . The gross carrying value and accumulated amortization by class of intangible assets as of March 31, 2016 and December 31, 2015 were as follows: As of March 31, 2016 As of December 31, 2015 (Dollars in millions) Gross Carrying Amount Accumulated Amortization Net Book Value Gross Carrying Amount Accumulated Amortization Net Book Value Indefinite-lived intangible assets: Trademark (1) . $ 15.3 $ — $ 15.3 $ 16.9 $ — $ 16.9 Non-compete agreement (1) . 3.0 — 3.0 3.3 — 3.3 Sub-total 18.3 — 18.3 20.2 — 20.2 Amortizable intangible assets: Computer software 138.1 (106.8 ) 31.3 136.7 (103.0 ) 33.7 Distributor-customer relationship (2) . 1.5 (0.6 ) 0.9 1.6 (0.6 ) 1.0 Sub-total 139.6 (107.4 ) 32.2 138.3 (103.6 ) 34.7 Total other intangible assets $ 157.9 $ (107.4 ) $ 50.5 $ 158.5 $ (103.6 ) $ 54.9 (1) Changes in balances result from currency translation. (2) Changes in balances result from currency translation and amortization (10 year life). Non-Cash Activity The decrease in capital expenditures not paid was $38.4 million and $26.8 million for the three months ended March 31, 2016 and 2015 , respectively.

GOODWILL

GOODWILL	3 Months Ended
	Mar. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL	GOODWILL The Company tests goodwill for impairment in the third quarter of each year and whenever an event occurs or circumstances change that would, more likely than not, reduce the fair value of a reporting unit below its carrying amount. No events have occurred through March 31, 2016 that would require the Company to review goodwill for impairment subsequent to the review performed in the third quarter of 2015 . For the three months ended March 31, 2016 and 2015 , the change in the carrying amount of goodwill by reportable segment was as follows: (Dollars in millions) Asia Latin America North America/ Europe Total Balance as of January 1, 2016 $ — $ 107.0 $ 19.0 $ 126.0 Translation adjustments — (6.0 ) — (6.0 ) Balance as of March 31, 2016 $ — $ 101.0 $ 19.0 $ 120.0 Balance as of January 1, 2015 $ — $ 143.7 $ 19.0 $ 162.7 Translation adjustments — (3.4 ) — (3.4 ) Balance as of March 31, 2015 $ — $ 140.3 $ 19.0 $ 159.3 As of March 31, 2016 , the Company had no accumulated impairment loss.

DEBT

DEBT	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
DEBT	DEBT Short-Term Borrowings As of March 31, 2016 and December 31, 2015 , the Company’s short-term borrowings were $3.1 million and $3.0 million , respectively, and consisted of borrowings made by the Company’s subsidiary in Argentina. The short-term borrowings in Argentina had a weighted-average interest rate of 39.0% as of March 31, 2016 . Revolving Credit Facility As of March 31, 2016 and December 31, 2015 , the Company had no borrowings from its $750.0 million revolving credit facility, and the Company had $750.0 million available at March 31, 2016 . The revolving credit facility contains financial covenants and the Company was in compliance with these financial covenants as of March 31, 2016. Any borrowings under the facility are repayable at maturity in June 2019. Long-Term Debt The components of long-term debt were as follows: (Dollars in millions) March 31, 2016 December 31, 2015 Principal Value: 4.900% Notes due 2019 (“2019 Notes”) $ 700.0 $ 700.0 3.000% Notes due 2020 (“2020 Notes”) 750.0 750.0 4.125% Notes due 2025 (“2025 Notes”) 750.0 750.0 5.900% Notes due 2039 (“2039 Notes”) 300.0 300.0 4.600% Notes due 2044 (“2044 Notes”) 500.0 500.0 Sub-total 3,000.0 3,000.0 Adjustments to Principal Value: Unamortized basis adjustment for settled interest rate swaps 6.6 7.0 Unamortized bond discount (4.7 ) (4.8 ) Unamortized debt issuance costs (21.1 ) (21.6 ) Fair-value interest rate swaps 31.8 0.4 Long-term debt $ 3,012.6 $ 2,981.0 Using quoted prices in markets that are not active, long-term debt is classified as Level 2 in the fair value hierarchy. The Company determined that the fair value of its long-term debt was $3,201.3 million as of March 31, 2016 . The components of interest expense-net were as follows: Three Months Ended March 31, (Dollars in millions) 2016 2015 Interest expense $ 29.0 $ 16.4 Interest income (2.8 ) (2.6 ) Interest expense-net $ 26.2 $ 13.8 The increase in interest expense-net was driven by interest expense on the November 2015 issuance of the 2020 Notes and the 2025 Notes.

DERIVATIVES

DERIVATIVES	3 Months Ended
	Mar. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVES	DERIVATIVES AND OTHER FINANCIAL INSTRUMENTS The Company is exposed to market risk due to changes in foreign currency exchange rates, commodities pricing and interest rates. To manage that risk, the Company enters into certain derivative financial instruments, when available on a cost-effective basis, to hedge its underlying economic exposure. The Company does not enter into derivatives for speculative purposes. Using quoted prices in markets that are not active , these financial instruments are classified as Level 2 in the fair value hierarchy at March 31, 2016 and December 31, 2015 , and there were no transfers between levels in the fair value hierarchy during the periods then ended. The following table summarizes the fair value of the Company's outstanding derivatives: (Dollars in millions) Hedge Designation Balance Sheet Location March 31, 2016 December 31, 2015 Foreign exchange contracts Cash Flow Prepaid expenses and other assets $ 1.8 $ 6.4 Interest rate swaps Fair Value Other assets 31.8 3.9 Foreign exchange contracts Cash Flow Accrued expenses (11.2 ) (0.9 ) Interest rate swaps Fair Value Other liabilities — (3.5 ) Commodity contracts Cash Flow Accrued expenses (0.1 ) (0.2 ) Net asset/(liability) of derivatives designated as hedging items $ 22.3 $ 5.7 While certain derivatives are subject to netting arrangements with the Company’s counterparties, the Company does not offset derivative assets and liabilities within the condensed consolidated balance sheets presented herein. The Company’s derivative financial instruments present certain market and counterparty risks; however, concentration of counterparty risk is mitigated as the Company deals with a variety of major banks worldwide whose long-term debt at hedge inception is rated A- or higher by Standard & Poor’s Rating Service, Fitch Ratings or Moody’s Investors Service, Inc. In addition, only conventional derivative financial instruments are used. The Company would not be materially impacted if any of the counterparties to the derivative financial instruments outstanding at March 31, 2016 failed to perform according to the terms of its agreement. Based upon the risk profile of the Company’s portfolio, MJN does not require collateral or any other form of securitization to be furnished by the counterparties to its derivative financial instruments . Cash Flow Hedges As of March 31, 2016 and December 31, 2015 , all of the Company’s cash flow hedges qualify as hedges of forecasted cash flows, and the effective portion of changes in fair value are temporarily reported in accumulated other comprehensive income (loss) . During the period that the underlying hedged transaction impacts earnings, the effective portion of the changes in the fair value of the cash flow hedges is recognized within earnings. The Company assesses effectiveness at inception and on a quarterly basis. These assessments determine whether derivatives designated as qualifying hedges continue to be highly effective in offsetting changes in the cash flows of hedged items. Any ineffective portion of the change in fair value is included in current period earnings. The Company will discontinue cash flow hedge accounting when the forecasted transaction is no longer probable of occurring on the originally forecasted date, or 60 days thereafter, or when the hedge is no longer effective. For the three months ended March 31, 2016 and 2015 , the Company did not discontinue any cash flow hedges. Foreign Exchange Contracts The Company uses foreign exchange contracts to hedge forecasted transactions, primarily foreign currency denominated intercompany purchases anticipated in the next 15 months and designates these derivative instruments as foreign currency cash flow hedges when appropriate. When the underlying intercompany purchases impact the Company’s consolidated earnings, the effective portion of the hedge is recognized within cost of products sold . Ineffectiveness related to the Company’s foreign exchange hedges on earnings was $1.3 million and $0.8 million for the three months ended March 31, 2016 and 2015 , respectively. As of March 31, 2016 , the notional value of the Company’s outstanding foreign exchange forward contracts designated as hedging instruments was $208.4 million , with a net fair value of $9.4 million in a net liability position. As of December 31, 2015 , the notional value of the Company’s outstanding foreign exchange forward contracts designated as hedging instruments was $174.8 million , with a fair value of $5.5 million in net assets. The fair value of all foreign exchange forward contracts is based on quarter-end forward currency rates. The fair value of foreign exchange forward contracts should be viewed in relation to the fair value of the underlying hedged transactions and the overall reduction in exposure to fluctuations in foreign currency exchange rates. The change in accumulated other comprehensive income (loss) and the impact on earnings from foreign exchange contracts that qualified as cash flow hedges were as follows: (Dollars in millions) 2016 2015 Balance—January 1 $ 10.1 $ 10.4 Derivatives qualifying as cash flow hedges deferred in other comprehensive income (11.9 ) 8.0 Derivatives qualifying as cash flow hedges reclassified to cost of products sold (effective portion) (6.3 ) (2.4 ) Change in deferred taxes 4.2 (1.5 ) Balance—March 31 $ (3.9 ) $ 14.5 At March 31, 2016 , the balance of the effective portion of changes in fair value on foreign exchange forward contracts that qualified for cash flow hedge accounting included in accumulated other comprehensive loss was $3.9 million , $2.6 million of which is expected to be reclassified into earnings within the next 12 months. Commodity Hedges The Company utilizes commodity hedges to minimize the variability in cash flows due to fluctuations in market prices of the Company’s non-fat dry milk purchases for North America. The maturities of the commodity contracts are scheduled to match the pricing terms of the Company’s existing bulk purchase agreements. When the underlying non-fat dry milk purchases impact the Company’s consolidated earnings, the effective portion of the hedge is recognized within cost of products sold . As of March 31, 2016 , the Company had commodity contracts outstanding which committed the Company to approximately $0.2 million of forecasted non-fat dry milk purchases. The ineffective portion recognized within other (income)/expenses - net was insignificant for the three months ended March 31, 2016 and 2015 . Commodity derivatives qualifying as cash flow hedges deferred in accumulated other comprehensive loss at March 31, 2016 and December 31, 2015 was $0.5 million and $0.7 million , respectively. Fair Value Hedges Interest Rate Swaps In November 2009, the Company executed several interest rate swaps to convert $700.0 million of the Company’s then newly-issued fixed rate debt to be paid in 2014 and 2019 to variable rate debt. In November 2010 , the Company terminated $200.0 million notional amount of fixed-to-floating interest rate swaps in exchange for cash of $15.6 million . In July 2011 , the Company terminated the remaining $500.0 million notional amount of fixed-to-floating interest rate swaps in exchange for cash of $23.5 million . The related basis adjustments of the underlying hedged items are being recognized as a reduction of interest expense over the remaining life of the underlying debt. For the three months ended March 31, 2016 and 2015 , the amortization of the settled swaps related to the 2019 Notes resulted in a $0.5 million reduction in interest expense. Because the Company redeemed the 3.50% Notes due in 2014 in the third quarter of 2014, the amortization of the related swaps was completed at that time, and there was no amortization related to these swaps in the three months ended March 31, 2016 . During the second quarter of 2014, the Company entered into eight interest rate swaps with multiple counterparties, which have an aggregate notional amount of $700.0 million of outstanding principal. This series of swaps effectively converts the $700.0 million of 2019 Notes from fixed to floating rate debt for the remainder of their term. These interest rate swaps were outstanding as of March 31, 2016 , and the conversion of fixed to floating rate resulted in a reduction in interest expense of $2.0 million for the three months ended March 31, 2016 . During the three months ended March 31, 2015 , the conversion of fixed to floating rate resulted in a reduction in interest expense of $2.7 million . In the fourth quarter of 2015, the Company entered into six interest rate swaps with multiple counterparties to mitigate interest rate exposure associated with the 2020 Notes. The swaps have an aggregate notional amount of $750.0 million of outstanding principal. This series of swaps effectively converts the $750.0 million of 2020 Notes from fixed to floating rate debt for the remainder of their term. These interest rate swaps were outstanding as of March 31, 2016 , and the conversion of fixed to floating rate resulted in a reduction in interest expense of $2.1 million for the three months ended March 31, 2016 . As the Company entered into the swaps during the fourth quarter of 2015, there was no impact to interest expense for the three months ended March 31, 2015 . The following table summarizes the interest rate swaps outstanding as of March 31, 2016 . The interest rate swaps for the 2019 Notes have a hedge inception date of May 2014, and the interest rate swaps for the 2020 Notes have an inception date of November 2015. The expiration dates of the interest rate swaps are equal to the stated maturity dates of the underlying debt. (Dollars in millions) Notional Amount of Underlying Fixed Rate Received Variable Rate Paid (U.S. 3 Month LIBOR +) Fair Value Asset Swaps associated with the 2019 Notes $ 700.0 4.9 % 3.14 % $ 16.5 Swaps associated with the 2020 Notes $ 750.0 3.0 % 1.38 % $ 15.3 See Note 14 for additional information related to the Company’s long-term debt. Other Financial Instruments The Company does not hedge the interest rate risk associated with money market funds, which totaled $737.0 million and $510.1 million as of March 31, 2016 and December 31, 2015 , respectively. Money market funds are classified as Level 2 in the fair value hierarchy and are included in cash and cash equivalents on the balance sheet. The money market funds have quoted market prices that are equivalent to par.

EQUITY

EQUITY	3 Months Ended
	Mar. 31, 2016
Equity [Abstract]
EQUITY	EQUITY Changes in common shares and treasury stock were as follows: (Dollars and shares in millions) Common Shares Issued Treasury Stock Cost of Treasury Stock Balance as of January 1, 2016 191.4 4.9 $ 362.6 Stock-based compensation 0.2 — — Balance as of March 31, 2016 191.6 4.9 $ 362.6 Balance as of January 1, 2015 207.2 4.9 $ 362.6 Stock-based compensation 0.3 — — Balance as of March 31, 2015 207.5 4.9 $ 362.6 The Company may use either authorized and unissued shares or treasury shares to meet share requirements resulting from the exercise of stock options and vesting of performance share awards and restricted stock units. Treasury stock is recognized at the cost to reacquire the shares. Shares issued from treasury are recognized using the first-in first-out method. On September 10, 2013, MJN’s board of directors approved a share repurchase authorization of up to $500.0 million of the Company’s common stock (the “2013 Authorization”). The authorization does not have an expiration date. During the first quarter of 2016 , the Company did not repurchase any shares pursuant to the 2013 Authorization. On October 20, 2015, MJN’s board of directors approved a new share repurchase authorization of an additional $1,500.0 million of the Company’s common stock (the “2015 Authorization”). On October 22, 2015, the Company entered into an accelerated share repurchase agreement (the “ASR Agreement”) with Goldman, Sachs & Co. (“Goldman”) to repurchase $1,000.0 million (the “Repurchase Price”) of the Company’s common stock. Under the terms of the ASR Agreement, 10,725,552 shares of common stock were received and retired by the Company on October 27, 2015 (which shares are equivalent to 85% of the number of shares of Company common stock that could be purchased with an amount of cash equal to the Repurchase Price based on the closing price of the Company’s common stock on October 22, 2015). The payments to Goldman were recorded as a reduction to shareholders’ equity consisting of a $1,000.0 million reduction to retained earnings, reflecting the value of the 10,725,552 shares received upon initial settlement and a $150.0 million decrease reflecting the value of the stock held back by Goldman pending final settlement of the ASR Agreement. At final settlement, which will occur during the second quarter of 2016, Goldman may be required to deliver additional shares of common stock to the Company, or, under certain circumstances, the Company may be required to deliver shares of its common stock or may elect to make a cash payment to Goldman, based on the average of the daily volume-weighted average prices of the Company’s common stock during the term of the ASR Agreement, subject, in part, to certain maximum and minimum prices. The ASR Agreement was primarily funded by the 2020 Notes and 2025 Notes issuance. See Note 14 for discussion on the Company’s debt. The Company had a redeemable noncontrolling interest related to its subsidiary in Argentina from March 2012 through June 2015. On June 30, 2015, the noncontrolling partner exercised its single trigger put option and MJN acquired an additional 10% of the outstanding capital stock of the local entity, thereby increasing MJN’s ownership interest to 90% . At that time, the remaining noncontrolling interest was recharacterized from redeemable noncontrolling interest outside of equity to noncontrolling interests within equity on the balance sheet. Changes in accumulated other comprehensive loss by component were as follows: (Dollars in millions) Foreign Currency Translation Adjustments Deferred Gains/(Losses) on Derivatives Qualifying as Hedges Pension and Other Post-employment Benefits Total Noncontrolling Interest Redeemable Noncontrolling Interest Balance as of January 1, 2016 $ (329.8 ) $ (17.2 ) $ (0.8 ) $ (347.8 ) $ (12.7 ) $ — Deferred Gains/(Losses) 6.7 (11.6 ) (4.9 ) (0.8 ) (1 ) Reclassification Adjustment for (Gains)/Losses Included in Net Earnings (5.5 ) (5.5 ) Tax Benefit/(Expense) 0.2 3.8 4.0 Balance as of March 31, 2016 $ (322.9 ) $ (30.5 ) $ (0.8 ) $ (354.2 ) $ (13.5 ) $ — Balance as of January 1, 2015 $ (180.4 ) $ (17.8 ) $ (0.7 ) $ (198.9 ) $ 1.9 $ (21.6 ) Deferred Gains/(Losses) (37.1 ) 7.4 (2) (29.7 ) (1 ) (0.6 ) Reclassification Adjustment for (Gains)/Losses Included in Net Earnings (1.9 ) (1.9 ) Tax Benefit/(Expense) 0.2 (1.5 ) (1.3 ) Balance as of March 31, 2015 $ (217.3 ) $ (13.8 ) $ (0.7 ) $ (231.8 ) $ 1.9 $ (22.2 ) (1) Represents foreign currency translation adjustments. (2) See Note 15 for additional information related to interest rate forward swaps. Reclassification adjustments out of accumulated other comprehensive loss were as follows: Three Months Ended March 31, Affected Statement of Earnings Lines (Dollars in millions) Cost of Products Sold Tax Benefit/(Expense) Net 2016 2015 2016 2015 2016 2015 Deferred Gains/(Losses) on Derivatives Qualifying as Hedges: Forward Exchange Contracts $ 6.3 $ 2.4 $ (0.6 ) $ (0.6 ) $ 5.7 $ 1.8 Commodity Contracts (0.4 ) (0.1 ) 0.2 0.1 (0.2 ) — Interest Rate Forward Swap (0.4 ) (0.4 ) 0.1 0.1 (0.3 ) (0.3 ) Total Reclassifications $ 5.5 $ 1.9 $ (0.3 ) $ (0.4 ) $ 5.2 $ 1.5

VENEZUELA MATTERS

VENEZUELA MATTERS	3 Months Ended
	Mar. 31, 2016
VENEZUELA CURRENCY MATTERS [Abstract]
VENEZUELA MATTERS	VENEZUELA MATTERS Discussion of Venezuela Exchange Rates In January 2014, the Venezuelan government enacted changes affecting the country’s currency exchange and other controls, and established a new foreign currency administration, the National Center for Foreign Commerce (“CENCOEX”). CENCOEX assumed control of the sale and purchase of foreign currency in Venezuela, and established the official exchange rate (“Official Rate”) of 6.3 Bolivares Fuertes (“VEF”) to 1.0 U.S. dollar (“USD”). Additionally, the government expanded the types of transactions that may be subject to the weekly auction mechanism under the Complimentary Currency Administration System (“SICAD I”). For a period of time, the Venezuelan government announced plans for the Alternative Foreign Exchange System, also known as SICAD II, which was intended to more closely resemble a market-driven exchange. In February 2015, the Venezuelan government combined the SICAD I and SICAD II (“SICAD”) exchange rate mechanisms and created a new market based SIMADI rate, which was based on supply and demand. The changes created a three tiered system. As of December 31, 2015, CENCOEX traded at 6.3 VEF to 1.0 USD, the SICAD auction markets traded at 13.5 VEF to 1.0 USD and the SIMADI traded at 198.7 VEF to 1.0 USD. In March 2016, the Venezuelan government devalued its currency and reduced its existing three tiered system to a two tiered system by eliminating the intermediary SICAD rate. The CENCOEX Official Rate, which continues to be used for purchases of certain essential goods, was changed to 10.0 VEF to 1.0 USD and is now referred to as DIPRO. Additionally, the SIMADI rate was replaced by a new market based rate known as DICOM, which governs all transactions not covered by DIPRO. As of March 31, 2016 , DIPRO traded at 10.0 VEF to 1.0 USD and DICOM traded at 272.9 VEF to 1.0 USD. Effect on the Company’s Results Due to the elimination of the SICAD rate in March 2016, the Company adopted the DICOM rate for purposes of remeasuring the monetary assets and liabilities of its Venezuela subsidiary effective March 10, 2016 because the Company believes the DICOM rate would now be used to settle future intercompany dividend remittances. The remeasurement impact of this adoption was a loss of $32.3 million , which was recognized as a component of other (income)/expenses - net . As a result of the change in the Venezuelan exchange rates, the Company concluded that an impairment indicator existed at March 31, 2016 and evaluated the carrying value of the long-lived assets of its Venezuelan subsidiary for impairment, which includes administrative office space, land and a partially completed distribution warehouse facility. Based on this evaluation, the Company concluded that the carrying value of the long-lived assets was no longer recoverable and recorded an impairment charge of $45.9 million to write down the carrying value of the assets to their fair value, which was recognized during the three months ended March 31, 2016 as a component of other (income)/expenses - net . The fair value measurements were based on market quotes from local real estate broker service firms as well as internal assessments of the best information available about the local business conditions and the political environment, including the risks associated with the local currency that would be indicative of what the assets could be sold for and are considered to be Level 3 measurements. For the three months ended March 31, 2016 , the Venezuelan subsidiary’s net sales were negligible as a percentage of total Company net sales. For the three months ended March 31, 2015 , the Venezuelan subsidiary’s net sales were 2.5% of total Company net sales. The Venezuelan subsidiary’s earnings were not a material component of MJN consolidated results during the three months ended March 31, 2016 and 2015 . Remaining Asset Exposures The following sets forth selected information of our Venezuelan subsidiary as of March 31, 2016 : Net Monetary Assets: $1.1 million ( 300.2 million Venezuelan Bolivares; DICOM of 272.9 VEF to 1.0 USD) Net Non-Monetary Assets: $8.1 million ( 2,210.5 million Venezuelan Bolivares; based on a DICOM rate of 272.9 VEF to 1.0 USD) MJN Intercompany Payables: $52.0 million (U.S Dollar denominated) The intercompany payable represents amounts owed by our Venezuelan subsidiary to our subsidiaries in Mexico and the U.S. for purchases of inventory.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES In the ordinary course of business, the Company is subject to lawsuits, investigations, government inquiries and claims, including, but not limited to, product liability claims, advertising disputes and inquiries, consumer fraud suits, other commercial disputes, premises claims and employment and environmental, health, and safety matters. The Company records accruals for contingencies when it is probable that a liability will be incurred and the loss can be reasonably estimated. Although the Company cannot predict with certainty the final resolution of lawsuits, investigations and claims asserted against the Company, MJN does not believe any currently pending legal proceeding to which the Company is a party will have a material impact on the Company’s business or financial condition, results of operations or cash flows.

ACCOUNTING POLICIES (Policies)

ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation— The Company prepared the accompanying unaudited condensed consolidated financial statements in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X issued by the Securities and Exchange Commission (“SEC”). Under those rules, certain footnotes and other financial information that are normally required by GAAP for annual financial statements have been condensed or omitted. The Company is responsible for the financial statements and the related notes included in this Form 10-Q. The condensed consolidated financial statements include all of the normal and recurring adjustments necessary for the fair presentation of the Company’s financial position as of March 31, 2016 and December 31, 2015 , and results of operations and cash flows for the three months ended March 31, 2016 and 2015 . Intercompany balances and transactions have been eliminated. Revenues, expenses, assets and liabilities can vary during each quarter of the year. Accordingly, the results and trends in these unaudited condensed consolidated financial statements may not be indicative of full-year operating results or future performance. The accounting policies used in preparing these condensed consolidated financial statements are the same as those used to prepare the Company’s annual report on Form 10-K for the year ended December 31, 2015 (“ 2015 Form 10-K”). These unaudited condensed consolidated financial statements and the related notes should be read in conjunction with the audited year-end financial statements and accompanying notes included in the Company’s 2015 Form 10-K.
Recently Adopted and Recently Issued Accounting Standards	Recently Issued Accounting Standards— In March 2016, the FASB issued ASU No. 2016-09, Compensation-Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting . This update simplifies several aspects of the accounting for share-based compensation arrangements, including accounting for income taxes, forfeitures and statutory tax withholding requirements as well as classification of related amounts on the statement of cash flows. The ASU is effective for fiscal years beginning after December 15, 2016, with early adoption permitted. The Company is currently evaluating the effect that the updated standard will have on its consolidated financial statements and related disclosures. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842). The updated standard requires most leases to be reflected on the balance sheet. It also aligns many of the underlying principles of the new lessor model with those of ASC No. 606, Revenue from Contracts with Customers . The updated standard becomes effective for fiscal years beginning after December 15, 2018, with early adoption permitted. The Company is currently evaluating the effect that the updated standard will have on its consolidated financial statements and related disclosures. In July 2015, the FASB issued ASU No. 2015-11, Simplifying the Measurement of Inventory (Topic 330) . This update simplifies the guidance on the subsequent measurement of inventory. GAAP currently requires an entity to measure inventory at the lower of cost or market. Previously, market could be replacement cost, net realizable value or net realizable value less an approximate normal profit margin. Under the new standard, inventory should be valued at the lower of cost or net realizable value. The ASU is effective for fiscal years beginning after December 15, 2016, with early adoption permitted. The Company is currently evaluating the effect, if any, that the updated standard will have on its consolidated financial statements and related disclosures. In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) . The updated standard will replace most existing revenue recognition guidance in GAAP when it becomes effective and permits the use of either the retrospective or cumulative effect transition method. The updated standard becomes effective for MJN in the first quarter of 2018. The Company is currently evaluating the impact that the updated standard will have on its consolidated financial statements and related disclosures.

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following table presents the calculation of basic and diluted earnings per share: Three Months Ended March 31, (Dollars and shares in millions, except per share data) 2016 2015 Basic earnings per share: Weighted-average shares outstanding 186.6 202.4 Net earnings attributable to shareholders $ 72.7 $ 207.4 Dividends and undistributed earnings attributable to unvested shares (0.3 ) (0.4 ) Net earnings attributable to shareholders used for basic earnings per share calculation $ 72.4 $ 207.0 Net earnings attributable to shareholders per share $ 0.39 $ 1.02 Diluted earnings per share: Weighted-average shares outstanding 186.6 202.4 Incremental shares outstanding assuming the exercise/vesting of dilutive stock options/performance shares 0.1 0.5 Weighted-average shares — diluted 186.7 202.9 Net earnings attributable to shareholders $ 72.7 $ 207.4 Dividends and undistributed earnings attributable to unvested shares (0.3 ) (0.4 ) Net earnings attributable to shareholders used for diluted earnings per share calculation $ 72.4 $ 207.0 Net earnings attributable to shareholders per share $ 0.39 $ 1.02

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	3 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
Schedule of Segment Reporting Information by Segment	The following table summarizes net sales and earnings before interest and income taxes for each of the reportable segments: Three Months Ended March 31, Net Sales Earnings Before Interest and Income Taxes (Dollars in millions) 2016 2015 2016 2015 Asia $ 500.6 $ 581.0 $ 169.1 $ 231.5 Latin America 160.3 204.4 40.8 57.3 North America/Europe 301.2 309.0 82.0 78.3 Total reportable segments 962.1 1,094.4 291.9 367.1 Corporate and Other — — (141.8 ) (81.9 ) Total $ 962.1 $ 1,094.4 $ 150.1 $ 285.2

RESTRUCTURING RESTRUCTURING (Ta

RESTRUCTURING RESTRUCTURING (Tables)	3 Months Ended
	Mar. 31, 2016
Restructuring and Related Activities [Abstract]
Restructuring Charges and Related Reserves Associated with Fuel for Growth	A summary of restructuring charges incurred during the three months ended March 31, 2016 and related reserves associated with Fuel for Growth as of March 31, 2016 is as follows: Restructuring Charges Three Months Ended (Dollars in millions) March 31, 2016 Other (Income)/Expenses- net Severance and Employee Benefits $ 8.2 Other Exist Costs 0.6 Asset Write-off 0.3 $ 9.1 Restructuring Reserves Severance and Employee Benefits (1) Contract Termination (2) Other Exist Costs (Dollars in millions) Balance at December 31, 2015 $ 9.5 $ 10.3 $ — Charges 8.2 — 0.6 Cash Payments (6.9 ) — (0.6 ) Balance at March 31, 2016 $ 10.8 $ 10.3 $ —

EMPLOYEE STOCK BENEFIT PLANS (T

EMPLOYEE STOCK BENEFIT PLANS (Tables)	3 Months Ended
	Mar. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Summary of Stock-Based Compensation Expense by Award Type	The following table summarizes stock-based compensation expense related to stock options, performance share awards and restricted stock units. Three Months Ended March 31, (Dollars in millions) 2016 2015 Stock options $ 2.1 $ 1.9 Performance share awards 2.3 4.4 Restricted stock units 3.4 2.7 Total pre-tax stock-based compensation expense $ 7.8 $ 9.0 Net tax benefit related to stock-based compensation expense $ (2.7 ) $ (3.1 )
Awards Granted and Weighted-Average Grant Date Fair Value of Options Granted	During the three months ended March 31, 2016 , the Company granted the following awards: (Shares in millions) Options/Shares Granted Weighted- Average Grant Date Fair Value Stock options 1.1 $ 13.87 Performance share awards 0.2 $ 70.48 Restricted stock units 0.3 $ 73.76
Unrecognized Compensation Costs of Outstanding Share Awards	As of March 31, 2016 , the Company had the following award expense yet to be recognized: (Dollars in millions) Unrecognized Compensation Expense Expected Weighted-Average Period to be Recognized (years) Stock options $ 20.3 2.1 Performance share awards 10.6 1.5 Restricted stock units 45.5 2.8 $ 76.4

PENSION AND OTHER POST-EMPLOY32

PENSION AND OTHER POST-EMPLOYMENT BENEFIT PLANS (Tables)	3 Months Ended
	Mar. 31, 2016
General Discussion of Pension and Other Postretirement Benefits [Abstract]
Schedule of net periodic benefit cost	The net periodic benefit cost of the Company’s defined benefit pension and post-employment benefit plans includes: Three Months Ended March 31, Pension Benefits Other Benefits (Dollars in millions) 2016 2015 2016 2015 Service cost – benefits earned during the period $ 0.7 $ 0.8 $ 0.3 $ 0.3 Interest cost on projected benefit obligations 3.0 3.7 0.4 0.5 Expected return on plan assets (4.1 ) (3.5 ) — — Net periodic benefit cost $ (0.4 ) $ 1.0 $ 0.7 $ 0.8 Net Actuarial (Gains)/Losses 6.1 — — — Total net periodic expense/(benefit) $ 5.7 $ 1.0 $ 0.7 $ 0.8

OTHER (INCOME)_EXPENSES-NET (Ta

OTHER (INCOME)/EXPENSES-NET (Tables)	3 Months Ended
	Mar. 31, 2016
Other Income and Expenses [Abstract]
Components of other expenses/(income)-net	The components of other (income)/expenses - net were: Three Months Ended March 31, (Dollars in millions) 2016 2015 Venezuela long-lived asset impairments $ 45.9 $ — Foreign exchange (gains)/losses - net 33.7 (2.8 ) Restructuring, severance and other related costs 9.3 2.6 Legal settlements and other - net (0.6 ) 12.4 Other (income)/expenses - net $ 88.3 $ 12.2

INVENTORIES (Tables)

INVENTORIES (Tables)	3 Months Ended
	Mar. 31, 2016
Inventory Disclosure [Abstract]
Major categories of inventories	The major categories of inventories were as follows: (Dollars in millions) March 31, 2016 December 31, 2015 Finished goods $ 234.0 $ 251.7 Work in process 73.7 70.3 Raw and packaging materials 179.2 162.9 Inventories $ 486.9 $ 484.9

LONG-LIVED ASSETS (Tables)

LONG-LIVED ASSETS (Tables)	3 Months Ended
	Mar. 31, 2016
Property, Plant and Equipment [Abstract]
Major categories of property, plant and equipment	Property, Plant and Equipment - net The major categories of property, plant and equipment were as follows: (Dollars in millions) March 31, 2016 December 31, 2015 Land $ 8.3 $ 12.3 Buildings and improvements 724.2 729.6 Machinery, equipment and fixtures 797.8 786.5 Construction in progress 102.2 123.6 Accumulated depreciation (705.5 ) (688.0 ) Property, plant and equipment — net $ 927.0 $ 964.0
Schedule of Finite and Indefinite-lived Intangible Assets by Major Class [Table Text Block]	The gross carrying value and accumulated amortization by class of intangible assets as of March 31, 2016 and December 31, 2015 were as follows: As of March 31, 2016 As of December 31, 2015 (Dollars in millions) Gross Carrying Amount Accumulated Amortization Net Book Value Gross Carrying Amount Accumulated Amortization Net Book Value Indefinite-lived intangible assets: Trademark (1) . $ 15.3 $ — $ 15.3 $ 16.9 $ — $ 16.9 Non-compete agreement (1) . 3.0 — 3.0 3.3 — 3.3 Sub-total 18.3 — 18.3 20.2 — 20.2 Amortizable intangible assets: Computer software 138.1 (106.8 ) 31.3 136.7 (103.0 ) 33.7 Distributor-customer relationship (2) . 1.5 (0.6 ) 0.9 1.6 (0.6 ) 1.0 Sub-total 139.6 (107.4 ) 32.2 138.3 (103.6 ) 34.7 Total other intangible assets $ 157.9 $ (107.4 ) $ 50.5 $ 158.5 $ (103.6 ) $ 54.9 (1) Changes in balances result from currency translation. (2) Changes in balances result from currency translation and amortization (10 year life).

GOODWILL (Tables)

GOODWILL (Tables)	3 Months Ended
	Mar. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Change in carrying amount of goodwill by reportable segment	For the three months ended March 31, 2016 and 2015 , the change in the carrying amount of goodwill by reportable segment was as follows: (Dollars in millions) Asia Latin America North America/ Europe Total Balance as of January 1, 2016 $ — $ 107.0 $ 19.0 $ 126.0 Translation adjustments — (6.0 ) — (6.0 ) Balance as of March 31, 2016 $ — $ 101.0 $ 19.0 $ 120.0 Balance as of January 1, 2015 $ — $ 143.7 $ 19.0 $ 162.7 Translation adjustments — (3.4 ) — (3.4 ) Balance as of March 31, 2015 $ — $ 140.3 $ 19.0 $ 159.3

DEBT (Tables)

DEBT (Tables)	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	The components of long-term debt were as follows: (Dollars in millions) March 31, 2016 December 31, 2015 Principal Value: 4.900% Notes due 2019 (“2019 Notes”) $ 700.0 $ 700.0 3.000% Notes due 2020 (“2020 Notes”) 750.0 750.0 4.125% Notes due 2025 (“2025 Notes”) 750.0 750.0 5.900% Notes due 2039 (“2039 Notes”) 300.0 300.0 4.600% Notes due 2044 (“2044 Notes”) 500.0 500.0 Sub-total 3,000.0 3,000.0 Adjustments to Principal Value: Unamortized basis adjustment for settled interest rate swaps 6.6 7.0 Unamortized bond discount (4.7 ) (4.8 ) Unamortized debt issuance costs (21.1 ) (21.6 ) Fair-value interest rate swaps 31.8 0.4 Long-term debt $ 3,012.6 $ 2,981.0
Interest Income and Interest Expense Disclosure	The components of interest expense-net were as follows: Three Months Ended March 31, (Dollars in millions) 2016 2015 Interest expense $ 29.0 $ 16.4 Interest income (2.8 ) (2.6 ) Interest expense-net $ 26.2 $ 13.8

DERIVATIVES (Tables)

DERIVATIVES (Tables)	3 Months Ended
	Mar. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of fair value of outstanding derivatives	The following table summarizes the fair value of the Company's outstanding derivatives: (Dollars in millions) Hedge Designation Balance Sheet Location March 31, 2016 December 31, 2015 Foreign exchange contracts Cash Flow Prepaid expenses and other assets $ 1.8 $ 6.4 Interest rate swaps Fair Value Other assets 31.8 3.9 Foreign exchange contracts Cash Flow Accrued expenses (11.2 ) (0.9 ) Interest rate swaps Fair Value Other liabilities — (3.5 ) Commodity contracts Cash Flow Accrued expenses (0.1 ) (0.2 ) Net asset/(liability) of derivatives designated as hedging items $ 22.3 $ 5.7
Schedule of change in accumulated other comprehensive income (loss) and the impact on earnings from foreign exchange contracts	The change in accumulated other comprehensive income (loss) and the impact on earnings from foreign exchange contracts that qualified as cash flow hedges were as follows: (Dollars in millions) 2016 2015 Balance—January 1 $ 10.1 $ 10.4 Derivatives qualifying as cash flow hedges deferred in other comprehensive income (11.9 ) 8.0 Derivatives qualifying as cash flow hedges reclassified to cost of products sold (effective portion) (6.3 ) (2.4 ) Change in deferred taxes 4.2 (1.5 ) Balance—March 31 $ (3.9 ) $ 14.5
Schedule of derivative liabilities at fair value	The following table summarizes the interest rate swaps outstanding as of March 31, 2016 . The interest rate swaps for the 2019 Notes have a hedge inception date of May 2014, and the interest rate swaps for the 2020 Notes have an inception date of November 2015. The expiration dates of the interest rate swaps are equal to the stated maturity dates of the underlying debt. (Dollars in millions) Notional Amount of Underlying Fixed Rate Received Variable Rate Paid (U.S. 3 Month LIBOR +) Fair Value Asset Swaps associated with the 2019 Notes $ 700.0 4.9 % 3.14 % $ 16.5 Swaps associated with the 2020 Notes $ 750.0 3.0 % 1.38 % $ 15.3

EQUITY (Tables)

EQUITY (Tables)	3 Months Ended
	Mar. 31, 2016
Equity [Abstract]
Schedule of Stock by Class	Changes in common shares and treasury stock were as follows: (Dollars and shares in millions) Common Shares Issued Treasury Stock Cost of Treasury Stock Balance as of January 1, 2016 191.4 4.9 $ 362.6 Stock-based compensation 0.2 — — Balance as of March 31, 2016 191.6 4.9 $ 362.6 Balance as of January 1, 2015 207.2 4.9 $ 362.6 Stock-based compensation 0.3 — — Balance as of March 31, 2015 207.5 4.9 $ 362.6
Schedule of Accumulated Other Comprehensive Income (Loss)	Changes in accumulated other comprehensive loss by component were as follows: (Dollars in millions) Foreign Currency Translation Adjustments Deferred Gains/(Losses) on Derivatives Qualifying as Hedges Pension and Other Post-employment Benefits Total Noncontrolling Interest Redeemable Noncontrolling Interest Balance as of January 1, 2016 $ (329.8 ) $ (17.2 ) $ (0.8 ) $ (347.8 ) $ (12.7 ) $ — Deferred Gains/(Losses) 6.7 (11.6 ) (4.9 ) (0.8 ) (1 ) Reclassification Adjustment for (Gains)/Losses Included in Net Earnings (5.5 ) (5.5 ) Tax Benefit/(Expense) 0.2 3.8 4.0 Balance as of March 31, 2016 $ (322.9 ) $ (30.5 ) $ (0.8 ) $ (354.2 ) $ (13.5 ) $ — Balance as of January 1, 2015 $ (180.4 ) $ (17.8 ) $ (0.7 ) $ (198.9 ) $ 1.9 $ (21.6 ) Deferred Gains/(Losses) (37.1 ) 7.4 (2) (29.7 ) (1 ) (0.6 ) Reclassification Adjustment for (Gains)/Losses Included in Net Earnings (1.9 ) (1.9 ) Tax Benefit/(Expense) 0.2 (1.5 ) (1.3 ) Balance as of March 31, 2015 $ (217.3 ) $ (13.8 ) $ (0.7 ) $ (231.8 ) $ 1.9 $ (22.2 ) (1) Represents foreign currency translation adjustments. (2) See Note 15 for additional information related to interest rate forward swaps.
Reclassification out of Accumulated Other Comprehensive Income	Reclassification adjustments out of accumulated other comprehensive loss were as follows: Three Months Ended March 31, Affected Statement of Earnings Lines (Dollars in millions) Cost of Products Sold Tax Benefit/(Expense) Net 2016 2015 2016 2015 2016 2015 Deferred Gains/(Losses) on Derivatives Qualifying as Hedges: Forward Exchange Contracts $ 6.3 $ 2.4 $ (0.6 ) $ (0.6 ) $ 5.7 $ 1.8 Commodity Contracts (0.4 ) (0.1 ) 0.2 0.1 (0.2 ) — Interest Rate Forward Swap (0.4 ) (0.4 ) 0.1 0.1 (0.3 ) (0.3 ) Total Reclassifications $ 5.5 $ 1.9 $ (0.3 ) $ (0.4 ) $ 5.2 $ 1.5

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Basic earnings per share:
Weighted-average shares outstanding	186.6	202.4
Net earnings attributable to shareholders	$ 72.7	$ 207.4
Dividends and undistributed earnings attributable to unvested shares	(0.3)	(0.4)
Net earnings attributable to shareholders used for basic earnings per share calculation	$ 72.4	$ 207
Net earnings attributable to shareholders (in dollars per share)	$ 0.39	$ 1.02
Diluted earnings per share:
Weighted-average shares outstanding	186.6	202.4
Incremental shares outstanding assuming the exercise/vesting of dilutive stock options/performance shares	0.1	0.5
Weighted-average shares — diluted	186.7	202.9
Net earnings attributable to shareholders	$ 72.7	$ 207.4
Dividends and undistributed earnings attributable to unvested shares	(0.3)	(0.4)
Net earnings attributable to shareholders used for diluted earnings per share calculation	$ 72.4	$ 207
Net earnings attributable to shareholders per share (in dollars per share)	$ 0.39	$ 1.02
Potential shares outstanding	3.6	2.9
Potential shares outstanding, not included in the diluted earnings per share calculation	3.5	2.4

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Effective Income Tax Rate Reconciliation, Percent	38.10%	23.70%
Unrecognized Tax Benefits	$ 182.8		$ 167
Obligation of former parent related to 2009 tax agreement	$ 11.2		$ 11.1

SEGMENT INFORMATION (Details)

SEGMENT INFORMATION (Details) $ in Millions	3 Months Ended
	Mar. 31, 2016USD ($)Segment	Mar. 31, 2015USD ($)
SEGMENT INFORMATION
Number of operating segments | Segment	4
Number of reportable segments | Segment	3
Net Sales	$ 962.1	$ 1,094.4
Earnings Before Interest and Income Taxes	$ 150.1	285.2
North America/Europe
SEGMENT INFORMATION
Number of operating segments | Segment	2
Number of reportable segments | Segment	1
Operating Segments
SEGMENT INFORMATION
Net Sales	$ 962.1	1,094.4
Earnings Before Interest and Income Taxes	291.9	367.1
Operating Segments | Asia
SEGMENT INFORMATION
Net Sales	500.6	581
Earnings Before Interest and Income Taxes	169.1	231.5
Operating Segments | Latin America
SEGMENT INFORMATION
Net Sales	160.3	204.4
Earnings Before Interest and Income Taxes	40.8	57.3
Operating Segments | North America/Europe
SEGMENT INFORMATION
Net Sales	301.2	309
Earnings Before Interest and Income Taxes	82	78.3
Corporate and Other
SEGMENT INFORMATION
Net Sales	0	0
Earnings Before Interest and Income Taxes	$ (141.8)	$ (81.9)

RESTRUCTURING RESTRUCTURING - N

RESTRUCTURING RESTRUCTURING - Narrative (Details)	12 Months Ended
	Mar. 31, 2017
Scenario, Forecast | Employee Severance | Fuel for Growth
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Payment Period	12 months

RESTRUCTURING RESTRUCTURING - R

RESTRUCTURING RESTRUCTURING - Restructuring Charges and Related Reserve Associated with Fuel for Growth (Details) - Fuel for Growth $ in Millions	3 Months Ended
	Mar. 31, 2016USD ($)
Employee Severance
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve, Beginning Balance	$ 9.5
Cash Payments for Restructuring	(6.9)
Restructuring Reserve, Ending Balance	10.8
Contract Termination
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve, Beginning Balance	10.3
Cash Payments for Restructuring	0
Restructuring Reserve, Ending Balance	10.3
Other Restructuring [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve, Beginning Balance	0
Cash Payments for Restructuring	(0.6)
Restructuring Reserve, Ending Balance	0
Selling, General and Administrative Expenses | Other Restructuring [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	0.6
Other Operating (Income) Expense
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	9.1
Other Operating (Income) Expense | Employee Severance
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	8.2
Other Operating (Income) Expense | Contract Termination
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	0
Other Operating (Income) Expense | Other Restructuring [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	0.6
Other Operating (Income) Expense | Asset Write-off [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	$ 0.3

EMPLOYEE STOCK BENEFIT PLANS (D

EMPLOYEE STOCK BENEFIT PLANS (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Stock-based compensation expense
Total pre-tax stock-based compensation expense	$ 7.8	$ 9
Net tax benefit related to stock-based compensation expense	(2.7)	(3.1)
Stock options
Stock-based compensation expense
Total pre-tax stock-based compensation expense	2.1	1.9
Performance share awards
Stock-based compensation expense
Total pre-tax stock-based compensation expense	2.3	4.4
Restricted stock units
Stock-based compensation expense
Total pre-tax stock-based compensation expense	$ 3.4	$ 2.7

EMPLOYEE STOCK BENEFIT PLANS 46

EMPLOYEE STOCK BENEFIT PLANS (Details 2) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2016USD ($)$ / sharesshares
EMPLOYEE STOCK BENEFIT PLANS
Unrecognized Compensation Expense	$ 76.4
Stock options
EMPLOYEE STOCK BENEFIT PLANS
Shares granted | shares	1.1
Weighted-average grant date fair value (in dollars per share) | $ / shares	$ 13.87
Unrecognized Compensation Expense	$ 20.3
Expected Weighted-Average Period to be Recognized (years)	2 years 29 days
Performance share awards
EMPLOYEE STOCK BENEFIT PLANS
Shares granted | shares	0.2
Weighted-average grant date fair value (in dollars per share) | $ / shares	$ 70.48
Unrecognized Compensation Expense	$ 10.6
Expected Weighted-Average Period to be Recognized (years)	1 year 6 months 9 days
Restricted stock units
EMPLOYEE STOCK BENEFIT PLANS
Shares granted | shares	0.3
Weighted-average grant date fair value (in dollars per share) | $ / shares	$ 73.76
Unrecognized Compensation Expense	$ 45.5
Expected Weighted-Average Period to be Recognized (years)	2 years 9 months 15 days

PENSION AND OTHER POST-EMPLOY47

PENSION AND OTHER POST-EMPLOYMENT BENEFIT PLANS (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Changes in net periodic benefit cost
Defined benefit plan, contributions by employer	$ 0	$ 1.7
Pension Benefits
Changes in net periodic benefit cost
Defined Benefit Plan, Net Periodic Benefit Cost Excluding Settlements, Curtailments and Actuarial Gains (Losses)	(0.4)	1
Service cost – benefits earned during the period	0.7	0.8
Interest cost on projected benefit obligations	3	3.7
Expected return on plan assets	(4.1)	(3.5)
Net Actuarial (Gains)/Losses	6.1	0
Total net periodic expense/(benefit)	5.7	1
Other Benefits
Changes in net periodic benefit cost
Defined Benefit Plan, Net Periodic Benefit Cost Excluding Settlements, Curtailments and Actuarial Gains (Losses)	0.7	0.8
Service cost – benefits earned during the period	0.3	0.3
Interest cost on projected benefit obligations	0.4	0.5
Expected return on plan assets	0	0
Net Actuarial (Gains)/Losses	0	0
Total net periodic expense/(benefit)	$ 0.7	$ 0.8

OTHER (INCOME)_EXPENSES-NET (De

OTHER (INCOME)/EXPENSES-NET (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Other (Income) Expense [Line Items]
Venezuela long-lived asset impairments	$ 45.9	$ 0
Other Operating (Income) Expense, Net	88.3	12.2
VENEZUELA
Other (Income) Expense [Line Items]
Foreign exchange (gains)/losses - net		(1.8)
Other Operating (Income) Expense
Other (Income) Expense [Line Items]
Venezuela long-lived asset impairments	45.9	0
Foreign exchange (gains)/losses - net	33.7	(2.8)
Restructuring, severance and other related costs	9.3	2.6
Legal settlements and other - net	(0.6)	12.4
Other Operating (Income) Expense, Net	88.3	$ 12.2
Other Operating (Income) Expense | VENEZUELA
Other (Income) Expense [Line Items]
Venezuela long-lived asset impairments	45.9
Foreign Currency Exchange Rate, Remeasurement Loss	32.3
Fuel for Growth | Other Operating (Income) Expense
Other (Income) Expense [Line Items]
Restructuring Charges	$ 9.1

NET EARNINGS ATTRIBUTABLE TO 49

NET EARNINGS ATTRIBUTABLE TO NONCONTROLLING INTERESTS (Details)	Mar. 31, 2016
China
Noncontrolling interest disclosures
Noncontrolling interests (as a percent)	11.00%
Argentina
Noncontrolling interest disclosures
Noncontrolling interests (as a percent)	10.00%
Indonesia
Noncontrolling interest disclosures
Noncontrolling interests (as a percent)	10.00%

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Inventory Disclosure [Abstract]
Finished goods	$ 234	$ 251.7
Work in process	73.7	70.3
Raw and packaging materials	179.2	162.9
Inventories	$ 486.9	$ 484.9

LONG-LIVED ASSETS - Property, P

LONG-LIVED ASSETS - Property, Plant and Equipment (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Property, plant and equipment disclosures
Accumulated depreciation	$ (705.5)	$ (688)
Property, plant and equipment — net	927	964
Land
Property, plant and equipment disclosures
Property, plant and equipment - gross	8.3	12.3
Buildings and Improvements
Property, plant and equipment disclosures
Property, plant and equipment - gross	724.2	729.6
Machinery, equipment and fixtures
Property, plant and equipment disclosures
Property, plant and equipment - gross	797.8	786.5
Construction in progress
Property, plant and equipment disclosures
Property, plant and equipment - gross	$ 102.2	$ 123.6

LONG-LIVED ASSETS LONG-LIVED AS

LONG-LIVED ASSETS LONG-LIVED ASSETS - Other Intangible Assets (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Finite-lived and Indefinite-lived Intangible Assets by Major Class [Line Items]
Indefinite-Lived Intangible Assets (Excluding Goodwill)	$ 18.3	$ 20.2
Indefinite-lived intangible assets zero amortization	0	0
Finite-Lived Intangible Assets, Gross	139.6	138.3
Finite-Lived Intangible Assets, Accumulated Amortization	(107.4)	(103.6)
Finite-Lived Intangible Assets, Net	32.2	34.7
Intangible Assets, Gross (Excluding Goodwill)	157.9	158.5
Computer Software, Intangible Asset [Member]
Finite-lived and Indefinite-lived Intangible Assets by Major Class [Line Items]
Finite-Lived Intangible Assets, Gross	138.1	136.7
Finite-Lived Intangible Assets, Accumulated Amortization	(106.8)	(103)
Finite-Lived Intangible Assets, Net	31.3	33.7
Customer Relationships [Member]
Finite-lived and Indefinite-lived Intangible Assets by Major Class [Line Items]
Finite-Lived Intangible Assets, Gross	1.5	1.6
Finite-Lived Intangible Assets, Accumulated Amortization	(0.6)	(0.6)
Finite-Lived Intangible Assets, Net	0.9	1
Trademarks [Member]
Finite-lived and Indefinite-lived Intangible Assets by Major Class [Line Items]
Indefinite-Lived Intangible Assets (Excluding Goodwill)	15.3	16.9
Indefinite-lived intangible assets zero amortization	0	0
Noncompete Agreements [Member]
Finite-lived and Indefinite-lived Intangible Assets by Major Class [Line Items]
Indefinite-Lived Intangible Assets (Excluding Goodwill)	3	3.3
Indefinite-lived intangible assets zero amortization	$ 0	$ 0

LONG-LIVED ASSETS LONG-LIVED 53

LONG-LIVED ASSETS LONG-LIVED ASSETS - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Property, Plant and Equipment [Line Items]
Venezuela long-lived asset impairments	$ 45.9	$ 0
Change in Capital Expenditures Not Paid	(38.4)	(26.8)
Other Operating (Income) Expense
Property, Plant and Equipment [Line Items]
Venezuela long-lived asset impairments	45.9	$ 0
Other Operating (Income) Expense | VENEZUELA
Property, Plant and Equipment [Line Items]
Venezuela long-lived asset impairments	$ 45.9

GOODWILL (Details)

GOODWILL (Details) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Details of goodwill
Goodwill at the beginning of the period	$ 126,000,000	$ 162,700,000
Translation adjustments	(6,000,000)	(3,400,000)
Goodwill at the end of the period	120,000,000	159,300,000
Goodwill, impaired, accumulated impairment loss	0
Asia
Details of goodwill
Goodwill at the beginning of the period	0	0
Translation adjustments	0	0
Goodwill at the end of the period	0	0
Latin America
Details of goodwill
Goodwill at the beginning of the period	107,000,000	143,700,000
Translation adjustments	(6,000,000)	(3,400,000)
Goodwill at the end of the period	101,000,000	140,300,000
North America/ Europe
Details of goodwill
Goodwill at the beginning of the period	19,000,000	19,000,000
Translation adjustments	0	0
Goodwill at the end of the period	$ 19,000,000	$ 19,000,000

DEBT - Narrative (Details)

DEBT - Narrative (Details) - USD ($)	3 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Debt Disclosure [Abstract]
Short-term borrowings	$ 3,100,000	$ 3,000,000
Line of credit facility, interest rate during period	39.00%
Line of credit, current	$ 0
Line of credit facility, remaining borrowing capacity	750,000,000
Long-term debt - fair value	$ 3,201,300,000

DEBT - Schedule of Long-Term De

DEBT - Schedule of Long-Term Debt Instruments (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Long-Term Debt
Unamortized Basis Adj for Terminated Interest Rate Swaps	$ 6.6	$ 7
Debt Instrument, Unamortized Discount	(4.7)	(4.8)
Debt Issuance Costs, Net	(21.1)	(21.6)
Fair-value interest rate swaps	31.8	0.4
Long-term Debt	3,012.6	2,981
Senior Notes
Long-Term Debt
Long-term Debt, Gross	3,000	3,000
Notes 4.90 Percent Due 2019 | Senior Notes
Long-Term Debt
Long-term Debt, Gross	$ 700	$ 700
Debt Instrument, Interest Rate, Stated Percentage	4.90%	4.90%
Notes 3.00 Percent Due 2020 | Senior Notes
Long-Term Debt
Long-term Debt, Gross	$ 750	$ 750
Debt Instrument, Interest Rate, Stated Percentage	3.00%	3.00%
Notes 4.125 Percent Due 2025 | Senior Notes
Long-Term Debt
Long-term Debt, Gross	$ 750	$ 750
Debt Instrument, Interest Rate, Stated Percentage	4.125%	4.125%
Notes 5.90 Percent Due 2039 | Senior Notes
Long-Term Debt
Long-term Debt, Gross	$ 300	$ 300
Debt Instrument, Interest Rate, Stated Percentage	5.90%	5.90%
Notes 4.600 Percent due 2044 | Senior Notes
Long-Term Debt
Long-term Debt, Gross	$ 500	$ 500
Debt Instrument, Interest Rate, Stated Percentage	4.60%	4.60%

DEBT DEBT - Components of Inter

DEBT DEBT - Components of Interest Expense (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Debt Disclosure [Abstract]
Interest Expense	$ 29	$ 16.4
Investment Income, Interest	(2.8)	(2.6)
Interest (Income) Expense, Net	$ 26.2	$ 13.8

DERIVATIVES - Narrative (Detail

DERIVATIVES - Narrative (Details) - USD ($)	1 Months Ended		3 Months Ended		12 Months Ended
	Jul. 31, 2011	Nov. 30, 2010	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015	Dec. 31, 2014	Jun. 30, 2014	May. 31, 2014	Nov. 30, 2009
Derivative disclosures
No transfers between levels in fair value hierarchy			$ 0		$ 0
Derivatives qualifying as cash flow hedges deferred in other comprehensive income			(11,600,000)	$ 7,400,000
Money market funds, classified as Level Two			$ 737,000,000		510,100,000
Cash Flow Hedges
Derivative disclosures
Maximum Period for Discontinuation of Foreign Currency Cash Flow Hedge Due to Forecasted Transaction Is Probable of Not Occurring			60 days
Foreign Exchange Contract | Cash Flow Hedges
Derivative disclosures
Ineffective portion of foreign exchange hedges			$ 1,300,000	800,000
Derivative, Notional Amount			208,400,000		174,800,000
Derivative, Fair Value, Net			(9,400,000)		5,500,000
Accumulated other comprehensive income, related to cash flow hedge			3,900,000	(14,500,000)	(10,100,000)	$ (10,400,000)
Cash flow hedge gain (loss) to be reclassified within twelve months			$ 2,600,000
Description of Reclassification of Cash Flow Hedge Gain (Loss)			P12M
Derivatives qualifying as cash flow hedges deferred in other comprehensive income			$ (11,900,000)	8,000,000
Maximum duration of foreign exchange contracts used to hedge intercompany purchases (in months)			15 months
Commodity Option
Derivative disclosures
Derivative, Notional Amount			$ 200,000
Accumulated other comprehensive income, related to cash flow hedge			(500,000)		(700,000)
Interest rate swap, terminated contract | Fair Value Hedges
Derivative disclosures
Derivative, Notional Amount	$ 500,000,000	$ 200,000,000
Proceeds from Termination of Hedge	$ 23,500,000	$ 15,600,000
Interest Rate Swaps - 2019 Note | Fair Value Hedges | Notes 4.90 Percent Due 2019
Derivative disclosures
Derivative, Notional Amount							$ 700,000,000
Interest rate swap, 2019 settled swaps
Derivative disclosures
Amortization of deferred hedge gains			500,000
Interest rate swap, 2019 open swaps
Derivative disclosures
Amortization of deferred hedge gains			2,000,000	2,700,000
Interest Rate Swaps - 2020 Note | Fair Value Hedges | Notes 3.00 Percent Due 2020
Derivative disclosures
Derivative, Notional Amount					750,000,000
Interest rate swap, 2020 open swaps
Derivative disclosures
Amortization of deferred hedge gains			2,100,000	$ 0
Designated as Hedging Instrument
Derivative disclosures
Derivative, Fair Value, Net			22,300,000		5,700,000
Notes 4.90 Percent Due 2019 | Interest Rate Swap | Fair Value Hedges
Derivative disclosures
Derivative, Notional Amount									$ 700,000,000
Notes 4.90 Percent Due 2019 | Interest Rate Swaps - 2019 Note | Fair Value Hedges
Derivative disclosures
Derivative, Notional Amount								$ 700,000,000
Senior Notes
Derivative disclosures
Long-term Debt, Gross			3,000,000,000		3,000,000,000
Senior Notes | Notes 3.00 Percent Due 2020
Derivative disclosures
Long-term Debt, Gross			750,000,000		750,000,000
Senior Notes | Notes 4.90 Percent Due 2019
Derivative disclosures
Long-term Debt, Gross			$ 700,000,000		$ 700,000,000

DERIVATIVES - Schedule of Fair

DERIVATIVES - Schedule of Fair Value of Outstanding Derivatives (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Foreign Exchange Contract | Cash Flow Hedges
Derivatives, Fair Value [Line Items]
Derivative, Fair Value, Net	$ (9.4)	$ 5.5
Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Derivative, Fair Value, Net	22.3	5.7
Designated as Hedging Instrument | Foreign Exchange Contract | Prepaid Expenses and Other Current Assets | Cash Flow Hedges
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset	1.8	6.4
Designated as Hedging Instrument | Foreign Exchange Contract | Accrued expenses | Cash Flow Hedges
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Gross Liability	(11.2)	(0.9)
Designated as Hedging Instrument | Interest Rate Swap | Other Assets | Fair Value Hedges
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset	31.8	3.9
Designated as Hedging Instrument | Interest Rate Swap | Other liabilities | Fair Value Hedges
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Gross Liability	0	(3.5)
Designated as Hedging Instrument | Commodity Option | Accrued expenses | Cash Flow Hedges
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Gross Liability	$ (0.1)	$ (0.2)

DERIVATIVES - Schedule of Chang

DERIVATIVES - Schedule of Change in Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Derivative [Line Items]
Derivatives qualifying as cash flow hedges deferred in other comprehensive income	$ (11.6)	$ 7.4
Cash Flow Hedges | Foreign Exchange Contract
Derivative [Line Items]
Balance—January 1	10.1	10.4
Derivatives qualifying as cash flow hedges deferred in other comprehensive income	(11.9)	8
Derivatives qualifying as cash flow hedges reclassified to cost of products sold (effective portion)	(6.3)	(2.4)
Change in deferred taxes	4.2	(1.5)
Balance—March 31	$ (3.9)	$ 14.5

DERIVATIVES DERIVATIVES - Sched

DERIVATIVES DERIVATIVES - Schedule of Derivative Liabilities at Fair Value (Details) - Fair Value Hedges - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015	Jun. 30, 2014	May. 31, 2014
Interest Rate Swaps - 2019 Note | Notes 4.90 Percent Due 2019
Derivative [Line Items]
Derivative, Notional Amount				$ 700
Derivative, Fixed Interest Rate			4.90%
Derivative, Variable Interest Rate			3.14%
Derivative Asset, Fair Value, Gross Asset	$ 16.5
Interest Rate Swaps - 2020 Note | Notes 3.00 Percent Due 2020
Derivative [Line Items]
Derivative, Notional Amount		$ 750
Derivative, Fixed Interest Rate		3.00%
Derivative, Variable Interest Rate		1.38%
Derivative Liability, Fair Value, Gross Liability	$ 15.3

EQUITY - Narrative (Details)

EQUITY - Narrative (Details) - USD ($)	Oct. 27, 2015	Oct. 22, 2015	Mar. 31, 2016	Oct. 20, 2015	Jun. 30, 2015	Sep. 10, 2013
Class of Stock [Line Items]
Document Fiscal Year Focus			2,016
Accelerated Share Repurchases, Settlement (Payment) or Receipt		$ 1,000,000,000
Stock Repurchase Program, Number of Shares Authorized to be Repurchased		10,725,552
Stock Repurchase Program, Percentage of Shares Retired	85.00%
Nutricion Para El Conosur SA [Member]
Class of Stock [Line Items]
Business Combination, Step Acquisition, Equity Interest in Acquiree, Including Subsequent Acquisition, Percentage			90.00%
Business Combination, Step Acquisition, Additional Equity Interest Acquired, Percent					10.00%
Decreaseinvalueofstock [Member]
Class of Stock [Line Items]
Accelerated Share Repurchases, Settlement (Payment) or Receipt		$ 150,000,000
Treasury Stock | 2013 Authorization
Class of Stock [Line Items]
Stock Repurchase Program, Authorized Amount						$ 500,000,000
Treasury Stock | October 2015 Authorization
Class of Stock [Line Items]
Stock Repurchase Program, Authorized Amount				$ 1,500,000,000
Parent
Class of Stock [Line Items]
Treasury Stock, Retired, Cost Method, Amount		$ 1,000,000,000

EQUITY EQUITY - Schedule of Sto

EQUITY EQUITY - Schedule of Stock by Class (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Class of Stock [Line Items]
Balance as of January 1, 2016	191.4
Balance as of March 31, 2016	191.6
Treasury Stock, Value (Beginning Balance)	$ 362.6
Treasury Stock, Value (Ending Balance)	$ 362.6
Common Stock
Class of Stock [Line Items]
Balance as of January 1, 2016	191.4	207.2
Stock Issued During Period, Shares, Employee Benefit Plan	0.2	0.3
Balance as of March 31, 2016	191.6	207.5
Treasury Stock
Class of Stock [Line Items]
Treasury Stock, Shares (Beginning Balance)	4.9	4.9
Stock Issued During Period, Shares, Employee Benefit Plan	0	0
Treasury Stock, Shares (Ending Balance)	4.9	4.9
Treasury Stock, Value (Beginning Balance)	$ 362.6	$ 362.6
Treasury Stock Reissued at Lower than Repurchase Price	0	0
Treasury Stock, Value (Ending Balance)	$ 362.6	$ 362.6

EQUITY - Accumulated Other Comp

EQUITY - Accumulated Other Comprehensive Income by Component (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning Balance	$ (347.8)	$ (198.9)
Deferred Gains/(Losses)	(4.9)	(29.7)
Reclassification Adjustment for (Gains)/Losses Included in Net Earnings	(5.5)	(1.9)
Tax Benefit/(Expense)	4	(1.3)
Ending Balance	(354.2)	(231.8)
Foreign Currency Translation Adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning Balance	(329.8)	(180.4)
Deferred Gains/(Losses)	6.7	$ (37.1)
Reclassification Adjustment for (Gains)/Losses Included in Net Earnings
Tax Benefit/(Expense)	0.2	$ 0.2
Ending Balance	(322.9)	(217.3)
Deferred Gains/(Losses) on Derivatives Qualifying as Hedges
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning Balance	(17.2)	(17.8)
Deferred Gains/(Losses)	(11.6)	7.4
Reclassification Adjustment for (Gains)/Losses Included in Net Earnings	(5.5)	(1.9)
Tax Benefit/(Expense)	3.8	(1.5)
Ending Balance	(30.5)	(13.8)
Pension and Other Post-employment Benefits
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning Balance	(0.8)	$ (0.7)
Deferred Gains/(Losses)
Reclassification Adjustment for (Gains)/Losses Included in Net Earnings
Tax Benefit/(Expense)
Ending Balance	(0.8)	$ (0.7)
Non- controlling Interests
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning Balance	(12.7)	$ 1.9
Deferred Gains/(Losses)	(0.8)
Reclassification Adjustment for (Gains)/Losses Included in Net Earnings
Tax Benefit/(Expense)
Ending Balance	(13.5)	$ 1.9
Redeemable Noncontrolling Interest
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning Balance	$ 0	(21.6)
Deferred Gains/(Losses)		$ (0.6)
Reclassification Adjustment for (Gains)/Losses Included in Net Earnings
Tax Benefit/(Expense)
Ending Balance	$ 0	$ (22.2)

EQUITY - Reclassification Adjus

EQUITY - Reclassification Adjustments Out of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Cost of Products Sold	$ (347.6)	$ (393.5)
Tax Benefit/(Expense)	(47.2)	(64.3)
Net	(76.7)	(207.1)
Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Cost of Products Sold	5.5	1.9
Tax Benefit/(Expense)	(0.3)	(0.4)
Net	5.2	1.5
Foreign Exchange | Deferred Gains/(Losses) on Derivatives Qualifying as Hedges: | Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Cost of Products Sold	6.3	2.4
Tax Benefit/(Expense)	(0.6)	(0.6)
Net	5.7	1.8
Commodity Option | Deferred Gains/(Losses) on Derivatives Qualifying as Hedges: | Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Cost of Products Sold	(0.4)	(0.1)
Tax Benefit/(Expense)	0.2	0.1
Net	(0.2)	0
Interest Rate Swap | Deferred Gains/(Losses) on Derivatives Qualifying as Hedges: | Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Cost of Products Sold	(0.4)	(0.4)
Tax Benefit/(Expense)	0.1	0.1
Net	$ (0.3)	$ (0.3)

VENEZUELA MATTERS VENEZUELA MAT

VENEZUELA MATTERS VENEZUELA MATTERS - Narrative (Details) $ in Millions	3 Months Ended
	Mar. 31, 2016USD ($)	Mar. 31, 2015USD ($)	Mar. 31, 2016VEF	Mar. 31, 2016USD ($)	Dec. 31, 2015
Venezuela Currency Matters [Line Items]
Venezuela long-lived asset impairments	$ 45.9	$ 0
VENEZUELA
Venezuela Currency Matters [Line Items]
Percent of net sales	0.00%	2.50%
Venezuelan bolívar fuerte | VENEZUELA
Venezuela Currency Matters [Line Items]
Net monetary assets | VEF			VEF 300,190,000
Net non-monetary assets | VEF			VEF 2,210,490,000
Venezuelan bolívar fuerte | CENCOEX | VENEZUELA
Venezuela Currency Matters [Line Items]
Foreign currency exchange rate, translation					6.3
Venezuelan bolívar fuerte | SICAD | VENEZUELA
Venezuela Currency Matters [Line Items]
Foreign currency exchange rate, translation					13.5
Venezuelan bolívar fuerte | SIMADI | VENEZUELA
Venezuela Currency Matters [Line Items]
Foreign currency exchange rate, translation					198.7
Venezuelan bolívar fuerte | DIPRO | VENEZUELA
Venezuela Currency Matters [Line Items]
Foreign currency exchange rate, translation			10	10
Venezuelan bolívar fuerte | DICOM | VENEZUELA
Venezuela Currency Matters [Line Items]
Foreign currency exchange rate, translation			272.9	272.9
United States of America, Dollars | VENEZUELA
Venezuela Currency Matters [Line Items]
Net monetary assets				$ 1.1
Net non-monetary assets				8.1
Intercompany payable				$ 52
Other Operating (Income) Expense
Venezuela Currency Matters [Line Items]
Venezuela long-lived asset impairments	$ 45.9	$ 0
Other Operating (Income) Expense | VENEZUELA
Venezuela Currency Matters [Line Items]
Foreign Currency Exchange Rate, Remeasurement Loss	(32.3)
Venezuela long-lived asset impairments	$ 45.9