XML 41 R32.htm IDEA: XBRL DOCUMENT
v3.22.1

Comprehensive Earnings (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2022
Equity [Abstract] |
Accumulated Other Comprehensive Loss | Accumulated other comprehensive loss, as reflected on the condensed consolidated balance sheets, is comprised of the following:
(In millions) | March 31, 2022 |  | December 31, 2021
Accumulated other comprehensive loss: |  |  |
Net unrealized gain on marketable securities, net of tax | $ | (1.3) |  |  | $ | — |
Net unrecognized loss and prior service cost related to defined benefit plans, net of tax | 29.4 |  |  | 32.2 |
Net unrecognized loss on derivatives in cash flow hedging relationships, net of tax | 9.4 |  |  | 9.2 |
Net unrecognized loss on derivatives in net investment hedging relationships, net of tax | 173.1 |  |  | 16.7 |
Foreign currency translation adjustment | (2,271.6) |  |  | (1,802.4) |
| $ | (2,061.0) |  |  | $ | (1,744.3) |
Components of Other Comprehensive Loss | Components of accumulated other comprehensive loss, before tax, consist of the following, for the three months ended March 31, 2022 and 2021:
| Three Months Ended March 31, 2022
Gains and Losses on Derivatives in Cash Flow Hedging Relationships |  | Gains and Losses on Net Investment Hedges |  | Gains and Losses on Marketable Securities |  | Defined Pension Plan Items |  | Foreign Currency Translation Adjustment |  | Totals
(In millions) | Foreign Currency Forward Contracts |  | Interest Rate Swaps |  | Total |  |  |  |  |  |  |  |  |  |
Balance at December 31, 2021, net of tax |  |  |  |  | $ | 9.2 |  |  | $ | 16.7 |  |  | $ | — |  |  | $ | 32.2 |  |  | $ | (1,802.4) |  |  | $ | (1,744.3) |
Other comprehensive earnings (loss) before reclassifications, before tax |  |  |  |  | 13.3 |  |  | 201.3 |  |  | (1.7) |  |  | (2.7) |  |  | (469.2) |  |  | (259.0) |
Amounts reclassified from accumulated other comprehensive (loss) earnings, before tax: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gain on foreign exchange forward contracts classified as cash flow hedges, included in net sales | (14.2) |  |  |  |  | (14.2) |  |  |  |  |  |  |  |  |  |  | (14.2) |
Loss on interest rate swaps classified as cash flow hedges, included in interest expense |  |  | 1.1 |  |  | 1.1 |  |  |  |  |  |  |  |  |  |  | 1.1 |
Amortization of prior service costs included in SG&A |  |  |  |  |  |  |  |  |  |  | 0.1 |  |  |  |  | 0.1 |
Net other comprehensive earnings (loss), before tax |  |  |  |  | 0.2 |  |  | 201.3 |  |  | (1.7) |  |  | (2.6) |  |  | (469.2) |  |  | (272.0) |
Income tax provision (benefit) |  |  |  |  | — |  |  | 44.9 |  |  | (0.4) |  |  | 0.2 |  |  | — |  |  | 44.7 |
Balance at March 31, 2022, net of tax |  |  |  |  | $ | 9.4 |  |  | $ | 173.1 |  |  | $ | (1.3) |  |  | $ | 29.4 |  |  | $ | (2,271.6) |  |  | $ | (2,061.0) |
| Three Months Ended March 31, 2021
Gains and Losses on Derivatives in Cash Flow Hedging Relationships |  | Gains and Losses on Net Investment Hedges |  | Gains and Losses on Marketable Securities |  | Defined Pension Plan Items |  | Foreign Currency Translation Adjustment |  | Totals
(In millions) | Foreign Currency Forward Contracts |  | Interest Rate Swaps |  | Total |  |  |  |  |  |  |  |  |  |
Balance at December 31, 2020, net of tax |  |  |  |  | $ | (18.0) |  |  | $ | (353.6) |  |  | $ | 1.2 |  |  | $ | (26.1) |  |  | $ | (461.5) |  |  | $ | (858.0) |
Other comprehensive earnings (loss) before reclassifications, before tax |  |  |  |  | 8.3 |  |  | 227.4 |  |  | (0.9) |  |  | 0.6 |  |  | (721.2) |  |  | (485.8) |
Amounts reclassified from accumulated other comprehensive (loss) earnings, before tax: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gain on foreign exchange forward contracts classified as cash flow hedges, included in net sales | (6.1) |  |  |  |  | (6.1) |  |  |  |  |  |  |  |  |  |  | (6.1) |
Loss on interest rate swaps classified as cash flow hedges, included in interest expense |  |  | 1.1 |  |  | 1.1 |  |  |  |  |  |  |  |  |  |  | 1.1 |
Amortization of prior service costs included in SG&A |  |  |  |  |  |  |  |  |  |  | (0.1) |  |  |  |  | (0.1) |
Amortization of actuarial gain included in SG&A |  |  |  |  |  |  |  |  |  |  | 0.3 |  |  |  |  | 0.3 |
Net other comprehensive earnings (loss), before tax |  |  |  |  | 3.3 |  |  | 227.4 |  |  | (0.9) |  |  | 0.8 |  |  | (721.2) |  |  | (490.6) |
Income tax provision |  |  |  |  | 0.8 |  |  | 35.1 |  |  | 0.1 |  |  | 1.0 |  |  | — |  |  | 37.0 |
Balance at March 31, 2021, net of tax |  |  |  |  | $ | (15.5) |  |  | $ | (161.3) |  |  | $ | 0.2 |  |  | $ | (26.3) |  |  | $ | (1,182.7) |  |  | $ | (1,385.6) |

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

X
- Definition Tabular disclosure of the components of accumulated other comprehensive income (loss). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 830 -SubTopic 30 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6450520&loc=d3e32583-110901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 14A -URI http://asc.fasb.org/extlink&oid=124509347&loc=SL7669686-108580 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 830 -SubTopic 30 -Section 45 -Paragraph 20 -URI http://asc.fasb.org/extlink&oid=118261656&loc=d3e32211-110900 + Details
Name: | us-gaap_ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of components of comprehensive income (loss). Includes, but is not limited to, foreign currency translation adjustments, foreign currency transactions designated as economic hedges of a net investment in foreign entity, gain (loss) and prior service cost (credit) for pension plans and other postretirement benefit plans. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=124509347&loc=d3e526-108580 + Details
Name: | us-gaap_ScheduleOfComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration