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OTHER COMPREHENSIVE INCOME (LOSS) INFORMATION | 6 Months Ended
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Jun. 30, 2024
OTHER COMPREHENSIVE INCOME (LOSS) INFORMATION |
OTHER COMPREHENSIVE INCOME (LOSS) INFORMATION | 10. OTHER COMPREHENSIVE INCOME (LOSS) INFORMATION ​ Other comprehensive income (loss) includes net income, foreign currency translation adjustments, defined benefit pension and postretirement plan adjustments, gains and losses on derivative instruments designated and effective as cash flow hedges and non-derivative instruments designated and effective as foreign currency net investment hedges that are charged or credited to the accumulated other comprehensive loss account in shareholders’ equity. Refer to Note 9 for additional information related to the Company’s derivatives and hedging transactions. Refer to Note 14 for additional information related to the Company’s pension and postretirement benefits activity. ​ The following tables provide other comprehensive income information related to the Company’s derivatives and hedging instruments and pension and postretirement benefits: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Second Quarter Ended | ​ | Six Months Ended | ​
​ | ​ | June 30 | ​ | June 30 | ​
(millions) |  | 2024 | ​ | 2023 |  | 2024 | ​ | 2023 | ​
Derivative and Hedging Instruments | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Unrealized gain (loss) on derivative and hedging instruments | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Amount recognized in AOCI | ​ | ​ | $4.8 | ​ | ​ | ​ | ($1.6) | ​ | ​ | $11.4 | ​ | ​ | ​ | ($6.7) | ​
(Gain) loss reclassified from AOCI into income | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
COS | ​ | ​ | (1.2) | ​ | ​ | ​ | (2.8) | ​ | ​ | (1.2) | ​ | ​ | ​ | (8.1) | ​
SG&A |  | ​ | (1.3) | ​ | ​ | ​ | 4.4 |  | ​ | (2.0) | ​ | ​ | ​ | 10.4 | ​
Interest (income) expense, net | ​ | ​ | 0.4 | ​ | ​ | ​ | (1.7) | ​ | ​ | 0.9 | ​ | ​ | ​ | (3.2) | ​
​ |  | ​ | (2.1) | ​ | ​ | ​ | (0.1) |  | ​ | (2.3) | ​ | ​ | ​ | (0.9) | ​
Other activity |  | ​ | - | ​ | ​ | ​ | 1.1 |  | ​ | - | ​ | ​ | ​ | 1.2 | ​
Tax impact |  | ​ | (0.5) | ​ | ​ | ​ | (0.9) |  | ​ | (1.8) | ​ | ​ | ​ | 0.2 | ​
Net of tax | ​ | ​ | $2.2 | ​ | ​ | ​ | ($1.5) | ​ | ​ | $7.3 | ​ | ​ | ​ | ($6.2) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Pension and Postretirement Benefits | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Amount reclassified from AOCI into income | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Settlement charge | ​ | ​ | $- | ​ | ​ | ​ | $- | ​ | ​ | $0.4 | ​ | ​ | ​ | $0.6 | ​
Amortization of losses and prior period service credits, net | ​ | ​ | 2.3 | ​ | ​ | ​ | 0.9 | ​ | ​ | 4.0 | ​ | ​ | ​ | 2.5 | ​
​ |  | ​ | 2.3 | ​ | ​ | ​ | 0.9 | ​ | ​ | 4.4 | ​ | ​ | ​ | 3.1 | ​
Other activity | ​ | ​ | (1.1) | ​ | ​ | ​ | (4.5) | ​ | ​ | (0.2) | ​ | ​ | ​ | (6.1) | ​
Tax impact |  | ​ | (1.3) | ​ | ​ | ​ | (0.7) |  | ​ | (2.0) | ​ | ​ | ​ | (1.1) | ​
Net of tax | ​ | ​ | ($0.1) | ​ | ​ | ​ | ($4.3) | ​ | ​ | $2.2 | ​ | ​ | ​ | ($4.1) | ​
​ The following table summarizes the derivative and pension and postretirement benefit amounts reclassified from AOCI into income: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Second Quarter Ended | ​ | Six Months Ended | ​
​ | ​ | June 30 | ​ | June 30 | ​
​ |  | 2024 | ​ | 2023 |  | 2024 | ​ | 2023 | ​
(millions) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Derivative (gain) loss reclassified from AOCI into income, net of tax | ​ | ​ | ($1.6) | ​ | ​ | ​ | ($0.1) | ​ | ​ | ($1.7) | ​ | ​ | ​ | ($0.7) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Pension and postretirement benefits amortization of losses and prior period service credits, net and settlement charges, reclassified from AOCI into income, net of tax | ​ | ​ | (0.1) | ​ | ​ | ​ | (4.3) | ​ | ​ | 2.2 | ​ | ​ | ​ | (4.1) | ​
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