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Accumulated Other Comprehensive (Loss) Income
12 Months Ended
Dec. 31, 2017
Accumulated Other Comprehensive (Loss) Income

12.    Accumulated Other Comprehensive (Loss) Income

The reclassifications out of accumulated other comprehensive (loss) income for the year ended December 31, 2017 and 2016 were as follows:

 

     
(In millions)            
       
Details about Accumulated Other Comprehensive
Income Components
           Affected Line Item in the
Consolidated Statements of Income
      
      2017      2016       

Gains (losses) on cash flow hedges

       

Foreign exchange contracts

   $ 0.4      $ (3.5   Cost of products sold

Commodity contracts

     0.5            Cost of products sold
     0.9        (3.5   Total before tax
       (0.1          Tax expense
     $ 0.8      $ (3.5   Net of tax

Defined benefit plan items

       

Amortization of prior service cost

   $ 5.1      $ 13.5     (a)

Recognition of actuarial gains (losses)

     0.5        (1.9   (a)
     5.6        11.6     Total before tax
       (2.0      (4.3   Tax expense
   $ 3.6      $ 7.3     Net of tax

Total reclassifications for the period

   $ 4.4      $ 3.8     Net of tax

 

(a)

These accumulated other comprehensive (loss) income components are included in the computation of net periodic benefit cost. Refer to Note 14, “Defined Benefit Plans,” for additional information.

 

Total accumulated other comprehensive (loss) 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 after-tax components of and changes in accumulated other comprehensive (loss) income were as follows:

 

         
(In millions)    Foreign
Currency
Adjustments
   

Derivative

Hedging

Gain
(Loss)

   

Defined
Benefit

Plan
Adjustments

     Accumulated
Other
Comprehensive
(Loss) Income
 

Balance at December 31, 2014

   $ 31.0     $ (0.6   $ (37.1    $ (6.7

Amounts classified into accumulated other comprehensive (loss) income

     (44.3     4.5       (1.4      (41.2

Amounts reclassified from accumulated other comprehensive (loss) income into earnings

           (1.8     (2.8      (4.6

Net current period other comprehensive (loss) income

     (44.3     2.7       (4.2      (45.8

Balance at December 31, 2015

   $ (13.3   $ 2.1     $ (41.3    $ (52.5

Amounts classified into accumulated other comprehensive (loss) income

     (14.7     (6.2     5.3        (15.6

Amounts reclassified from accumulated other comprehensive (loss) income into earnings

           3.5       (7.3      (3.8

Net current period other comprehensive (loss) income

     (14.7     (2.7     (2.0      (19.4

Balance at December 31, 2016

   $ (28.0   $ (0.6   $ (43.3    $ (71.9

Amounts classified into accumulated other comprehensive (loss) income

     33.8       (1.0     4.3        37.1  

Amounts reclassified from accumulated other comprehensive (loss) income into earnings

           (0.8     (3.6      (4.4

Net current period other comprehensive (loss) income

     33.8       (1.8     0.7        32.7  

Balance at December 31, 2017

   $ 5.8     $ (2.4   $ (42.6    $ (39.2