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Accumulated Other Comprehensive Income (Loss)
3 Months Ended
Jun. 30, 2018
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss)
The following table presents OCI activity, net of tax, which is accumulated in equity:
 
 
Foreign Currency Translation Gains (Losses)(a)
 
Net Unrealized Gains (Losses) on Cash Flow Hedges(b)
 
Net Unrealized Gains (Losses) on Defined
Benefit Plans(c)
 
Total Accumulated Other Comprehensive Income (Loss)
 
 
(millions)
Balance at April 1, 2017
 
$
(206.2
)
 
$
14.6

 
$
(6.8
)
 
$
(198.4
)
Other comprehensive income (loss), net of tax:
 
 
 
 
 
 
 
 
OCI before reclassifications
 
56.6

 
(18.8
)
 
(0.5
)
 
37.3

Amounts reclassified from AOCI to earnings
 

 
(3.2
)
 
0.2

 
(3.0
)
Other comprehensive income (loss), net of tax
 
56.6

 
(22.0
)
 
(0.3
)
 
34.3

Balance at July 1, 2017
 
$
(149.6
)
 
$
(7.4
)
 
$
(7.1
)
 
$
(164.1
)
 
 
 
 
 
 
 
 
 
Balance at March 31, 2018
 
$
(79.3
)
 
$
(16.0
)
 
$
(3.2
)
 
$
(98.5
)
Other comprehensive income (loss), net of tax:
 
 
 
 
 
 
 
 
OCI before reclassifications
 
(30.7
)
 
23.3

 
0.2

 
(7.2
)
Amounts reclassified from AOCI to earnings
 

 
4.4

 
(0.1
)
 
4.3

Other comprehensive income (loss), net of tax
 
(30.7
)
 
27.7

 
0.1

 
(2.9
)
Balance at June 30, 2018
 
$
(110.0
)
 
$
11.7

 
$
(3.1
)
 
$
(101.4
)
 
(a)
OCI before reclassifications to earnings related to foreign currency translation gains (losses) includes an income tax provision of $4.6 million for the three months ended June 30, 2018, and includes an income tax benefit of $12.8 million for the three months ended July 1, 2017. OCI before reclassifications to earnings for the three-month periods ended June 30, 2018 and July 1, 2017 includes a gain of $29.8 million (net of a $9.4 million income tax provision) and a loss of $25.1 million (net of a $15.2 million income tax benefit), respectively, related to changes in the fair values of instruments designated as hedges of the Company's net investment in certain foreign operations (see Note 12).
(b) 
OCI before reclassifications to earnings related to net unrealized gains (losses) on cash flow hedges are presented net of an income tax provision of $2.8 million and an income tax benefit of $0.3 million for the three-month periods ended June 30, 2018 and July 1, 2017, respectively. The tax effects on amounts reclassified from AOCI to earnings are presented in a table below.
(c) 
Activity is presented net of taxes, which were immaterial for both periods presented.
The following table presents reclassifications from AOCI to earnings for cash flow hedges, by component:
 
 
Three Months Ended
 
Location of Gains (Losses)
Reclassified from AOCI
to Earnings
 
 
June 30,
2018
 
July 1,
2017
 
 
 
(millions)
 
 
Gains (losses) on cash flow hedges(a):
 
 
 
 
 
 
    FC  Cash flow hedges
 
$
(6.2
)
 
$
4.0

 
Cost of goods sold
    FC  Cash flow hedges
 
1.4

 
(0.6
)
 
Other expense, net
    Tax effect
 
0.4

 
(0.2
)
 
Income tax provision
        Net of tax
 
$
(4.4
)
 
$
3.2

 
 
 
(a) 
FC = Forward foreign currency exchange contracts.