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Other Comprehensive Income (Loss) | 12 Months Ended
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Dec. 31, 2022
Equity [Abstract] |
Other Comprehensive Income (Loss) | Other Comprehensive Income (Loss) The following table summarizes the activity related to each component of other comprehensive income (loss):
(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
Beginning balance at January 1, 2020 | $ | (1,678.0) |  |  | $ | 4.9 |  |  | $ | (4,638.6) |  |  | $ | (211.9) |  |  |  |  | $ | (6,523.6) |
Other comprehensive income (loss) before reclassifications | 250.5 |  |  | 6.8 |  |  | (379.7) |  |  | (133.8) |  |  |  |  | (256.2) |
Net amount reclassified from accumulated other comprehensive loss | — |  |  | 3.1 |  |  | 267.3 |  |  | 13.0 |  |  |  |  | 283.4 |
Net other comprehensive income (loss) | 250.5 |  |  | 9.9 |  |  | (112.4) |  |  | (120.8) |  |  |  |  | 27.2 |
Balance at December 31, 2020 | (1,427.5) |  |  | 14.8 |  |  | (4,751.0) |  |  | (332.7) |  |  |  |  | (6,496.4) |
Other comprehensive income (loss) before reclassifications | (122.7) |  |  | (11.9) |  |  | 1,823.4 |  |  | 106.6 |  |  |  |  | 1,795.4 |
Net amount reclassified from accumulated other comprehensive loss | — |  |  | 0.8 |  |  | 344.0 |  |  | 13.1 |  |  |  |  | 357.9 |
Net other comprehensive income (loss) | (122.7) |  |  | (11.1) |  |  | 2,167.4 |  |  | 119.7 |  |  |  |  | 2,153.3 |
Balance at December 31, 2021 | (1,550.2) |  |  | 3.7 |  |  | (2,583.6) |  |  | (213.0) |  |  |  |  | (4,343.1) |
Other comprehensive income (loss) before reclassifications | (324.4) |  |  | (52.2) |  |  | 291.5 |  |  | 332.8 |  |  |  |  | 247.7 |
Net amount reclassified from accumulated other comprehensive loss | 0.4 |  |  | 11.4 |  |  | 229.8 |  |  | 9.2 |  |  |  |  | 250.8 |
Net other comprehensive income (loss) | (324.0) |  |  | (40.8) |  |  | 521.3 |  |  | 342.0 |  |  |  |  | 498.5 |
Ending balance at December 31, 2022 | $ | (1,874.2) |  |  | $ | (37.1) |  |  | $ | (2,062.3) |  |  | $ | 129.0 |  |  |  |  | $ | (3,844.6) |
The tax effects on the net activity related to each component of other comprehensive income (loss) for the years ended December 31, were as follows:
Tax benefit (expense) | 2022 |  | 2021 |  | 2020
Foreign currency translation gains/losses | $ | (75.9) |  |  | $ | (136.2) |  |  | $ | 128.3 |
Unrealized net gains/losses on securities | 12.4 |  |  | 4.7 |  |  | (4.3) |
Defined benefit pension and retiree health benefit plans | (95.6) |  |  | (532.0) |  |  | 44.8 |
Effective portion of cash flow hedges | (90.9) |  |  | (31.8) |  |  | 32.1 |
Benefit/(provision) for income taxes allocated to other comprehensive income (loss) items | $ | (250.0) |  |  | $ | (695.3) |  |  | $ | 200.9 |
Except for the tax effects of foreign currency translation gains and losses related to our foreign currency-denominated notes, cross-currency interest rate swaps, and other foreign currency exchange contracts designated as net investment hedges (see Note 7), income taxes were not provided for foreign currency translation. Generally, the assets and liabilities of foreign operations are translated into U.S. dollars using the current exchange rate. For those operations, changes in exchange rates generally do not affect cash flows; therefore, resulting translation adjustments are made in shareholders' equity rather than in the consolidated statements of operations. Reclassifications out of accumulated other comprehensive loss were as follows:
Details about Accumulated Other Comprehensive Loss Components | Year Ended December 31, | Affected Line Item in the Consolidated Statements of Operations
2022 |  | 2021 |  | 2020
Amortization of retirement benefit items: |  |  |  |  |  |
Prior service benefits, net | $ | (52.4) |  |  | $ | (55.4) |  |  | $ | (55.0) |  | Other—net, (income) expense
Actuarial losses | 343.3 |  |  | 490.9 |  |  | 393.3 |  | Other—net, (income) expense
Total before tax | 290.9 |  |  | 435.5 |  |  | 338.3 |  |
Tax benefit | (61.1) |  |  | (91.5) |  |  | (71.0) |  | Income taxes
Net of tax | 229.8 |  |  | 344.0 |  |  | 267.3 |  |
Other, net of tax | 21.0 |  |  | 13.9 |  |  | 16.1 |  | Other—net, (income) expense
Total reclassifications for the period, net of tax | $ | 250.8 |  |  | $ | 357.9 |  |  | $ | 283.4 |  |

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- Definition The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -URI https://asc.fasb.org/topic&trid=2134417 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(21)) -URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04(23)) -URI https://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04(19)) -URI https://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263 + Details
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