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Accounting Policies (Tables) | 9 Months Ended
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Sep. 30, 2020
Accounting Policies [Abstract] |
Summary of Receivables Sold | The following table sets forth a summary of receivables sold:
In millions | Three Months Ended September 30, 2020 |  | Nine Months Ended September 30, 2020
Gross receivables sold/cash proceeds received | $ | 289.1 |  |  | $ | 583.0 |
Collections reinvested under revolving agreement | 291.6 |  |  | 485.5 |
Net cash proceeds (remitted) received | $ | (2.5) |  |  | $ | 97.5 |
Changes in Accumulated Other Comprehensive Loss by Component, Net of Tax | The changes in accumulated other comprehensive income (loss) by component, net of tax, for the nine months ended September 30, 2020 are as follows:
In millions | Foreign currency translation |  | Derivative contracts |  | Pension and post retirement benefit plans |  | Total
Balance at December 31, 2019 | $ | (308.6) |  |  | $ | (3.3) |  |  | $ | (70.7) |  |  | $ | (382.6) |
Other comprehensive loss before reclassifications | (98.4) |  |  | 1.4 |  |  | (4.8) |  |  | (101.8) |
Amounts reclassified from accumulated other comprehensive income | — |  |  | — |  |  | 2.2 |  |  | 2.2 |
Net current period other comprehensive income (loss) | (98.4) |  |  | 1.4 |  |  | (2.6) |  |  | (99.6) |
Balance at September 30, 2020 | $ | (407.0) |  |  | $ | (1.9) |  |  | $ | (73.3) |  |  | $ | (482.2) |
The changes in accumulated other comprehensive loss by component, net of tax, for the nine months ended September 30, 2019 are as follows:
In millions | Foreign currency translation |  | Derivative contracts |  | Pension and post retirement benefit plans |  | Total
Balance at December 31, 2018 | $ | (202.2) |  |  | $ | (0.1) |  |  | $ | (54.3) |  |  | $ | (256.6) |
Other comprehensive loss before reclassifications | (208.9) |  |  | (3.0) |  |  | (1.7) |  |  | (213.6) |
Amounts reclassified from accumulated other comprehensive income | — |  |  | — |  |  | 1.6 |  |  | 1.6 |
Net current period other comprehensive income (loss) | (208.9) |  |  | (3.0) |  |  | (0.1) |  |  | (212.0) |
Balance at September 30, 2019 | $ | (411.1) |  |  | $ | (3.1) |  |  | $ | (54.4) |  |  | $ | (468.6) |
Reclassifications Out of Accumulated Other Comprehensive Loss | Reclassifications out of accumulated other comprehensive income (loss) for the three months ended September 30, 2020 are as follows:
In millions | Amount reclassified from accumulated other comprehensive income |  | Affected line item in the Condensed Consolidated Statements of Income
Amortization of defined benefit plan items |  |  |
Amortization of initial net obligation and prior service cost | $ | (0.4) |  |  | Other income (expense), net
Amortization of net loss | 1.4 |  |  | Other income (expense), net
| 1.0 |  |  | Other income (expense), net
| (0.3) |  |  | Income tax expense
| $ | 0.7 |  |  | Net income
Reclassifications out of accumulated other comprehensive income (loss) for the nine months ended September 30, 2020 are as follows:
In millions | Amount reclassified from accumulated other comprehensive income |  | Affected line item in the Condensed Consolidated Statements of Income
Amortization of defined benefit plan items |  |  |
Amortization of initial net obligation and prior service cost | $ | (1.1) |  |  | Other income (expense), net
Amortization of net loss | 4.1 |  |  | Other income (expense), net
| 3.0 |  |  | Other income (expense), net
| (0.8) |  |  | Income tax expense
| $ | 2.2 |  |  | Net income
Reclassifications out of accumulated other comprehensive loss for the three months ended September 30, 2019 are as follows:
In millions | Amount reclassified from accumulated other comprehensive income |  | Affected line item in the Condensed Consolidated Statements of Income
Amortization of defined benefit plan items |  |  |
Amortization of initial net obligation and prior service cost | $ | (0.4) |  |  | Other income (expense), net
Amortization of net loss | 1.1 |  |  | Other income (expense), net
| 0.7 |  |  | Other income (expense), net
| (0.2) |  |  | Income tax expense
| $ | 0.5 |  |  | Net income
Reclassifications out of accumulated other comprehensive loss for the nine months ended September 30, 2019 are as follows:
In millions | Amount reclassified from accumulated other comprehensive income |  | Affected line item in the Condensed Consolidated Statements of Income
Amortization of defined benefit plan items |  |  |
Amortization of initial net obligation and prior service cost | $ | (1.1) |  |  | Other income (expense), net
Amortization of net loss | 3.3 |  |  | Other income (expense), net
| 2.2 |  |  | Other income (expense), net
| (0.6) |  |  | Income tax expense
| $ | 1.6 |  |  | Net income

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