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Accumulated Other Comprehensive Income
 9 Months Ended
Sep. 30, 2014
Accumulated Other Comprehensive Income
18. Accumulated Other Comprehensive Income

Total accumulated other comprehensive income consists of net income and other changes in business equity from transactions and other events from sources other than shareholders. It includes currency translation gains and losses, unrealized gains and losses from derivative instruments designated as cash flow hedges, and defined benefit plan adjustments. The components of and changes in accumulated other comprehensive income, net of tax, for the nine months ended September 30, 2014 and 2013 were as follows:

 

(In millions)    Foreign
Currency
Adjustments		     Derivative
Hedging
Gains		     Defined
Benefit Plan
Adjustments		     Accumulated
Other
Comprehensive
Income		  

Balance at December 31, 2013

    $ 53.3      $ 0.9      $ 41.2      $ 95.4   

Amounts classified into accumulated other comprehensive income

      (7.4 )      0.1        5.0 (a)      (2.3 ) 

Amounts reclassified from accumulated other comprehensive income

      (1.4 )      (0.4 )      (14.0 )      (15.8 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Net current period other comprehensive income

      (8.8 )      (0.3 )      (9.0 )      (18.1 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Balance at September 30, 2014

    $ 44.5      $ 0.6      $ 32.2      $ 77.3   
(In millions)    Foreign
Currency
Adjustments		     Derivative
Hedging
Gains		     Defined
Benefit Plan
Adjustments		     Accumulated
Other
Comprehensive
Income		  

Balance at December 31, 2012

    $ 63.5      $ 0.2      $ (33.1 )    $ 30.6   

Amounts classified into accumulated other comprehensive income

      (3.9 )      2.0        33.7 (a)      31.8   

Amounts reclassified from accumulated other comprehensive income

      —          (1.4 )      (9.4 )      (10.8 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Net current period other comprehensive income

      (3.9 )      0.6        24.3        21.0   
  

 

 

    

 

 

    

 

 

    

 

 

  

Balance at September 30, 2013

    $ 59.6      $ 0.8      $ (8.8 )    $ 51.6   

 

  (a)  See Note 11, “Defined Benefit Plans,” for further information on the adjustments related to defined benefit plans.

 

The reclassifications out of accumulated other comprehensive income for the nine and three months ended September 30, 2014 and 2013 were as follows:

 

(In millions)

 

Details about Accumulated Other

    Amount Reclassified from
Accumulated Other Comprehensive Income
Nine Months Ended September 30,		     Affected Line Item in
the Statement of
Comprehensive Income

Comprehensive Income Components

    2014     2013    

Cumulative translation adjustments

    $ 1.4      $ —        Restructuring charges

Gains on cash flow hedges

       

Foreign exchange contracts

    $ 0.4      $ 2.6      Cost of products sold

Commodity contracts

      —          (0.3 )    Cost of products sold
  

 

 

    

 

 

    
     0.4        2.3      Total before tax
     —          (0.9 )    Tax expense
  

 

 

    

 

 

    
   $ 0.4      $ 1.4      Net of tax

Defined benefit plan items

       

Recognition of prior service cost

    $ 24.1      $ 21.4      (a)

Recognition of actuarial losses

      (1.7 )      (5.6 )    (a)

Curtailment and settlement losses

      —          (0.2 )    (a)
  

 

 

    

 

 

    
     22.4        15.6      Total before tax
     (8.4 )      (6.2 )    Tax expense
  

 

 

    

 

 

    
   $ 14.0      $ 9.4      Net of tax
  

 

 

    

 

 

    

Total reclassifications for the period

    $ 15.8      $ 10.8      Net of tax

(In millions)

 

Details about Accumulated Other

    Amount Reclassified from
Accumulated Other Comprehensive Income
Three Months Ended September 30,		     Affected Line Item in
the Statement of
Comprehensive Income

Comprehensive Income Components

    2014     2013    

Cumulative translation adjustments

    $ 1.4      $ —        Restructuring charges

(Loss) gain on cash flow hedges

       

Foreign exchange contracts

    $ (0.2 )    $ 1.1      Cost of products sold

Commodity contracts

      —          (0.2 )    Cost of products sold
  

 

 

    

 

 

    
     (0.2 )      0.9      Total before tax
     0.1        (0.5 )    Tax expense
  

 

 

    

 

 

    
   $ (0.1 )    $ 0.4      Net of tax

Defined benefit plan items

       

Recognition of prior service cost

    $ 6.5      $ 5.7      (a)

Recognition of actuarial losses

      (1.1 )      (0.2 )    (a)

Curtailment and settlement losses

      —          (0.2 )    (a)
  

 

 

    

 

 

    
     5.4        5.3      Total before tax
     (2.0 )      (2.2 )    Tax expense
  

 

 

    

 

 

    
   $ 3.4      $ 3.1      Net of tax
  

 

 

    

 

 

    

Total reclassifications for the period

    $ 4.7      $ 3.5      Net of tax

 

  (a)  These accumulated other comprehensive income components are included in the computation of net periodic benefit cost. Refer to Note 11, “Defined Benefit Plans,” for additional information.