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Other Comprehensive Income (Loss) (Tables) | 6 Months Ended
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Jun. 30, 2022
Statement of Comprehensive Income [Abstract] |
Schedule of components of other comprehensive income (loss) | The following tables summarize the activity related to each component of other comprehensive income (loss) during the three months ended June 30, 2022 and 2021:
(Amounts presented net of taxes) | Foreign Currency Translation Gains (Losses) |  | Unrealized Net Gains (Losses) on Securities |  | Defined Benefit Pension and Retiree Health Benefit Plans |  | Effective Portion of Cash Flow Hedges |  |  |  | Accumulated Other Comprehensive Loss
Balance at April 1, 2022 | $ | (1,575.2) |  |  | $ | (18.1) |  |  | $ | (2,531.6) |  |  | $ | (100.4) |  |  |  |  | $ | (4,225.3) |
Other comprehensive income (loss) before reclassifications | (269.6) |  |  | (9.3) |  |  | 31.7 |  |  | 124.8 |  |  |  |  | (122.4) |
Net amount reclassified from accumulated other comprehensive loss | 0.6 |  |  | (0.5) |  |  | 56.7 |  |  | 3.2 |  |  |  |  | 60.0 |
Net other comprehensive income (loss) | (269.0) |  |  | (9.8) |  |  | 88.4 |  |  | 128.0 |  |  |  |  | (62.4) |
Balance at June 30, 2022 | $ | (1,844.2) |  |  | $ | (27.9) |  |  | $ | (2,443.2) |  |  | $ | 27.6 |  |  |  |  | $ | (4,287.7) |
(Amounts presented net of taxes) | Foreign Currency Translation Gains (Losses) |  | Unrealized Net Gains (Losses) on Securities |  | Defined Benefit Pension and Retiree Health Benefit Plans |  | Effective Portion of Cash Flow Hedges |  |  |  | Accumulated Other Comprehensive Loss
Balance at April 1, 2021 | $ | (1,677.2) |  |  | $ | 4.5 |  |  | $ | (4,646.3) |  |  | $ | (76.6) |  |  |  |  | $ | (6,395.6) |
Other comprehensive income (loss) before reclassifications | 161.0 |  |  | 4.4 |  |  | (10.2) |  |  | (136.8) |  |  |  |  | 18.4 |
Net amount reclassified from accumulated other comprehensive loss | — |  |  | 0.2 |  |  | 86.6 |  |  | 3.3 |  |  |  |  | 90.1 |
Net other comprehensive income (loss) | 161.0 |  |  | 4.6 |  |  | 76.4 |  |  | (133.5) |  |  |  |  | 108.5 |
Balance at June 30, 2021 | $ | (1,516.2) |  |  | $ | 9.1 |  |  | $ | (4,569.9) |  |  | $ | (210.1) |  |  |  |  | $ | (6,287.1) |
The following tables summarize the activity related to each component of other comprehensive income (loss) during the six months ended June 30, 2022 and 2021:
(Amounts presented net of taxes) | Foreign Currency Translation Gains (Losses) |  | Unrealized Net Gains (Losses) on Securities |  | Defined Benefit Pension and Retiree Health Benefit Plans |  | Effective Portion of Cash Flow Hedges |  | Accumulated Other Comprehensive Loss
Balance at January 1, 2022 | $ | (1,550.2) |  |  | $ | 3.7 |  |  | $ | (2,583.6) |  |  | $ | (213.0) |  |  | $ | (4,343.1) |
Other comprehensive income (loss) before reclassifications | (294.6) |  |  | (30.6) |  |  | 25.1 |  |  | 234.2 |  |  | (65.9) |
Net amount reclassified from accumulated other comprehensive loss | 0.6 |  |  | (1.0) |  |  | 115.3 |  |  | 6.4 |  |  | 121.3 |
Net other comprehensive income (loss) | (294.0) |  |  | (31.6) |  |  | 140.4 |  |  | 240.6 |  |  | 55.4 |
Balance at June 30, 2022 | $ | (1,844.2) |  |  | $ | (27.9) |  |  | $ | (2,443.2) |  |  | $ | 27.6 |  |  | $ | (4,287.7) |
(Amounts presented net of taxes) | Foreign Currency Translation Gains (Losses) |  | Unrealized Net Gains (Losses) on Securities |  | Defined Benefit Pension and Retiree Health Benefit Plans |  | Effective Portion of Cash Flow Hedges |  | Accumulated Other Comprehensive Loss
Balance at January 1, 2021 | $ | (1,427.5) |  |  | $ | 14.8 |  |  | $ | (4,751.0) |  |  | $ | (332.7) |  |  | $ | (6,496.4) |
Other comprehensive income (loss) before reclassifications | (88.7) |  |  | (6.4) |  |  | 8.6 |  |  | 116.0 |  |  | 29.5 |
Net amount reclassified from accumulated other comprehensive loss | — |  |  | 0.7 |  |  | 172.5 |  |  | 6.6 |  |  | 179.8 |
Net other comprehensive income (loss) | (88.7) |  |  | (5.7) |  |  | 181.1 |  |  | 122.6 |  |  | 209.3 |
Balance at June 30, 2021 | $ | (1,516.2) |  |  | $ | 9.1 |  |  | $ | (4,569.9) |  |  | $ | (210.1) |  |  | $ | (6,287.1) |
The tax effects on the net activity related to each component of other comprehensive income (loss) were as follows:
| Three Months Ended June 30, |  | Six Months Ended June 30,
Tax benefit (expense) | 2022 |  | 2021 |  | 2022 |  | 2021
Foreign currency translation gains/losses | $ | (87.2) |  |  | $ | (21.9) |  |  | $ | (100.9) |  |  | $ | (53.3) |
Unrealized net gains/losses on securities | 3.0 |  |  | (1.3) |  |  | 9.7 |  |  | 3.1 |
Defined benefit pension and retiree health benefit plans | (22.4) |  |  | (20.2) |  |  | (50.8) |  |  | (51.5) |
Effective portion of cash flow hedges | (34.0) |  |  | 35.5 |  |  | (63.9) |  |  | (32.6) |
Benefit (expense) for income taxes allocated to other comprehensive income (loss) items | $ | (140.6) |  |  | $ | (7.9) |  |  | $ | (205.9) |  |  | $ | (134.3) |
Schedule of reclassifications out of accumulated other comprehensive loss | Reclassifications out of accumulated other comprehensive loss were as follows:
Details about Accumulated Other Comprehensive Loss Components |  | Three Months Ended June 30, |  | Six Months Ended June 30, | Affected Line Item in the Consolidated Condensed Statements of Operations
| 2022 |  | 2021 |  | 2022 |  | 2021
Amortization of retirement benefit items: |  |  |  |  |  |  |  |  |
Prior service benefits, net |  | $ | (13.1) |  |  | $ | (13.8) |  |  | $ | (26.1) |  |  | $ | (27.6) |  | Other–net, (income) expense
Actuarial losses, net |  | 84.8 |  |  | 123.4 |  |  | 172.0 |  |  | 246.0 |  | Other–net, (income) expense
Total before tax |  | 71.7 |  |  | 109.6 |  |  | 145.9 |  |  | 218.4 |  |
Tax benefit |  | (15.0) |  |  | (23.0) |  |  | (30.6) |  |  | (45.9) |  | Income taxes
Net of tax |  | 56.7 |  |  | 86.6 |  |  | 115.3 |  |  | 172.5 |  |
Other, net of tax |  | 3.3 |  |  | 3.5 |  |  | 6.0 |  |  | 7.3 |  | Other–net, (income) expense
Total reclassifications, net of tax |  | $ | 60.0 |  |  | $ | 90.1 |  |  | $ | 121.3 |  |  | $ | 179.8 |  |

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