XML 30 R19.htm IDEA: XBRL DOCUMENT
v3.24.2.u1

Other Comprehensive Income (Loss) | 6 Months Ended
--- | ---
Jun. 30, 2024
Equity [Abstract] |
Other Comprehensive Income (Loss) | 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, 2024 and 2023:
(Amounts presented net of taxes) | Foreign Currency Translation Gains (Losses) |  | Net Unrealized Gains (Losses) on Available-For-Sale Securities |  | Defined Benefit Pension and Retiree Health Benefit Plans |  | Net Unrealized Gains (Losses) on Cash Flow Hedges |  |  |  | Accumulated Other Comprehensive Loss
Balance at April 1, 2024 | $ | (1,897.0) |  |  | $ | (30.9) |  |  | $ | (2,658.7) |  |  | $ | 287.1 |  |  |  |  | $ | (4,299.5) |
Other comprehensive income (loss) before reclassifications | (104.6) |  |  | (1.8) |  |  | 1.2 |  |  | 1.5 |  |  |  |  | (103.7) |
Net amount reclassified from accumulated other comprehensive loss | — |  |  | 0.1 |  |  | 23.9 |  |  | 0.7 |  |  |  |  | 24.7 |
Net other comprehensive income (loss) | (104.6) |  |  | (1.7) |  |  | 25.1 |  |  | 2.2 |  |  |  |  | (79.0) |
Balance at June 30, 2024 | $ | (2,001.6) |  |  | $ | (32.6) |  |  | $ | (2,633.6) |  |  | $ | 289.3 |  |  |  |  | $ | (4,378.5) |
(Amounts presented net of taxes) | Foreign Currency Translation Gains (Losses) |  | Net Unrealized Gains (Losses) on Available-For-Sale Securities |  | Defined Benefit Pension and Retiree Health Benefit Plans |  | Net Unrealized Gains (Losses) on Cash Flow Hedges |  |  |  | Accumulated Other Comprehensive Loss
Balance at April 1, 2023 | $ | (1,826.6) |  |  | $ | (28.3) |  |  | $ | (2,066.1) |  |  | $ | 143.7 |  |  |  |  | $ | (3,777.3) |
Other comprehensive income (loss) before reclassifications | (58.7) |  |  | (5.9) |  |  | (5.6) |  |  | 43.5 |  |  |  |  | (26.7) |
Net amount reclassified from accumulated other comprehensive loss | — |  |  | 0.7 |  |  | 12.9 |  |  | 1.7 |  |  |  |  | 15.3 |
Net other comprehensive income (loss) | (58.7) |  |  | (5.2) |  |  | 7.3 |  |  | 45.2 |  |  |  |  | (11.4) |
Balance at June 30, 2023 | $ | (1,885.3) |  |  | $ | (33.5) |  |  | $ | (2,058.8) |  |  | $ | 188.9 |  |  |  |  | $ | (3,788.7) |
The following tables summarize the activity related to each component of other comprehensive income (loss) during the six months ended June 30, 2024 and 2023:
(Amounts presented net of taxes) | Foreign Currency Translation Gains (Losses) |  | Net Unrealized Gains (Losses) on Available-For-Sale Securities |  | Defined Benefit Pension and Retiree Health Benefit Plans |  | Net Unrealized Gains (Losses) on Cash Flow Hedges |  | Accumulated Other Comprehensive Loss
Balance at January 1, 2024 | $ | (1,819.0) |  |  | $ | (26.2) |  |  | $ | (2,697.3) |  |  | $ | 215.5 |  |  | $ | (4,327.0) |
Other comprehensive income (loss) before reclassifications | (192.8) |  |  | (6.6) |  |  | 16.8 |  |  | 73.5 |  |  | (109.1) |
Net amount reclassified from accumulated other comprehensive loss | 10.2 |  |  | 0.2 |  |  | 46.9 |  |  | 0.3 |  |  | 57.6 |
Net other comprehensive income (loss) | (182.6) |  |  | (6.4) |  |  | 63.7 |  |  | 73.8 |  |  | (51.5) |
Balance at June 30, 2024 | $ | (2,001.6) |  |  | $ | (32.6) |  |  | $ | (2,633.6) |  |  | $ | 289.3 |  |  | $ | (4,378.5) |
(Amounts presented net of taxes) | Foreign Currency Translation Gains (Losses) |  | Net Unrealized Gains (Losses) on Available-For-Sale Securities |  | Defined Benefit Pension and Retiree Health Benefit Plans |  | Net Unrealized Gains (Losses) on Cash Flow Hedges |  | Accumulated Other Comprehensive Loss
Balance at January 1, 2023 | $ | (1,874.2) |  |  | $ | (37.1) |  |  | $ | (2,062.3) |  |  | $ | 129.0 |  |  | $ | (3,844.6) |
Other comprehensive income (loss) before reclassifications | 14.1 |  |  | 2.2 |  |  | (22.4) |  |  | 56.2 |  |  | 50.1 |
Net amount reclassified from accumulated other comprehensive loss | (25.2) |  |  | 1.4 |  |  | 25.9 |  |  | 3.7 |  |  | 5.8 |
Net other comprehensive income (loss) | (11.1) |  |  | 3.6 |  |  | 3.5 |  |  | 59.9 |  |  | 55.9 |
Balance at June 30, 2023 | $ | (1,885.3) |  |  | $ | (33.5) |  |  | $ | (2,058.8) |  |  | $ | 188.9 |  |  | $ | (3,788.7) |
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) | 2024 |  | 2023 |  | 2024 |  | 2023
Foreign currency translation gains/losses | $ | (16.2) |  |  | $ | (6.4) |  |  | $ | (68.2) |  |  | $ | 40.1 |
Net unrealized gains/losses on available-for-sale securities | 0.6 |  |  | 1.6 |  |  | 2.0 |  |  | (1.0) |
Defined benefit pension and retiree health benefit plans | (5.3) |  |  | (3.0) |  |  | (0.5) |  |  | (7.0) |
Net unrealized gains/losses on cash flow hedges | (0.5) |  |  | (12.0) |  |  | (19.5) |  |  | (15.9) |
Benefit (expense) for income taxes allocated to other comprehensive income (loss) items | $ | (21.4) |  |  | $ | (19.8) |  |  | $ | (86.2) |  |  | $ | 16.2 |
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 condensed statements of operations. 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
2024 |  | 2023 |  | 2024 |  | 2023
Amortization of retirement benefit items: |  |  |  |  |  |  |  |
Prior service benefits, net | $ | (0.9) |  |  | $ | (12.6) |  |  | $ | (1.8) |  |  | $ | (25.2) |  | Other–net, (income) expense
Actuarial losses, net | 31.1 |  |  | 28.9 |  |  | 61.1 |  |  | 58.0 |  | Other–net, (income) expense
Total before tax | 30.2 |  |  | 16.3 |  |  | 59.3 |  |  | 32.8 |  |
Tax benefit | (6.3) |  |  | (3.4) |  |  | (12.4) |  |  | (6.9) |  | Income taxes
Net of tax | 23.9 |  |  | 12.9 |  |  | 46.9 |  |  | 25.9 |  |
Other, net of tax | 0.8 |  |  | 2.4 |  |  | 10.7 |  |  | (20.1) |  | Other–net, (income) expense
Total reclassifications, net of tax | $ | 24.7 |  |  | $ | 15.3 |  |  | $ | 57.6 |  |  | $ | 5.8 |  |

X
- 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://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04(19)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(21)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04(23)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/220/tableOfContent + Details
Name: | us-gaap_ComprehensiveIncomeNoteTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_EquityAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration