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Jarden Corporation Annual Report 2014 55
The following table presents gain and loss activity (on a pretax basis) for 2014, 2013 and 2012 related to derivative nancial instruments
not designated as effective hedges:
Gain/(Loss)Recognized
inIncome(a)
(In millions) 2014 2013 2012
Derivatives not designated as effective hedges:  
Cash ow derivatives:  
Foreign currency contracts $4.3 $(2.7) $(5.7)
Commodity contracts (8.9)0.9 (0.4)
 
Total $ (4.6 )$(1.8 )$(6.1)
Net Investment Hedge
The Company has designated € 300 of the principal balance of its Euro-denominated 33⁄4% senior notes due October 2021 (the
“Hedging Instrument”) as a net investment hedge of the foreign currency exposure of its net investment in certain Euro-denominated
subsidiaries. Foreign currency gains and losses on the Hedging Instrument are included as a component of AOCI. At December31, 2014,
$28.3 of after-tax deferred gains have been recorded in AOCI.
11. Commitments and Contingencies
Operating Leases
The Company conducts its operations in various leased facilities under leases that are classied as operating leases for nancial
statement purposes. Certain leases provide for payment of real estate taxes, common area maintenance, insurance and certain other
expenses. Lease terms may have escalating rent provisions and rent holidays which are expensed on a straight-line basis over the term
of the lease. Also, certain equipment used in the Company’s operations are leased under operating leases.
Operating lease commitments for the ve years following December31, 2014 and thereafter are as follows:
Years Ending December31,
Amount
(in millions)
2015  $110.0
2016  90.5
2017  72.7
2018  64.0
2019  53.1
Thereafter  146.3
Total  $536.6
  
The xed operating lease commitments detailed above assume that the Company continues the leases through their initial lease terms.
Rent expense, including equipment rentals, was $150, $120 and $103 for 2014, 2013 and 2012, respectively.
Contingencies
The Company is involved in various legal disputes and other legal proceedings that arise from time to time in the ordinary course
of business. In addition, the Company and/or certain of its subsidiaries have been identied by the United States Environmental
Protection Agency (“EPA”) or a state environmental agency as a Potentially Responsible Party (“PRP”) pursuant to the federal
Superfund Act and/or state Superfund laws comparable to the federal law at various sites. Based on currently available information,
the Company does not believe that the disposition of any of the legal or environmental disputes the Company or its subsidiaries are
currently involved in will have a material adverse effect upon the consolidated nancial condition, results of operations or cash ows of
the Company. It is possible that, as additional information becomes available, the impact on the Company of an adverse determination
could have a different effect.
Environmental
The Company’s operations are subject to certain federal, state, local and foreign environmental laws and regulations in addition to laws
and regulations regarding labeling and packaging of products and the sales of products containing certain environmentally sensitive
materials. In addition to ongoing environmental compliance at its operations, the Company also is actively engaged in environmental
Notes to Consolidated Financial Statements
Jarden Corporation Annual Report 2014 (Dollars in millions, except per share data and unless otherwise indicated)