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Accounting Policies (Tables)

9 Months Ended

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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