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Accumulated Other Comprehensive Loss
9 Months Ended
Sep. 30, 2018
Accumulated Other Comprehensive Loss
10.

Accumulated Other Comprehensive Loss

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 were as follows:

 

(In millions)    Foreign
Currency
Adjustments
     Derivative
Hedging
Gain
(Loss)
     Defined
Benefit Plan
Adjustments(a)
     Accumulated
Other
Comprehensive
Loss
 

Balance at December 31, 2016

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

Amounts classified into accumulated other comprehensive loss

     47.0        0.6        3.5        51.1  

Amounts reclassified from accumulated other comprehensive loss

     —          (0.6      (4.1      (4.7
  

 

 

    

 

 

    

 

 

    

 

 

 

Net current-period other comprehensive income (loss)

     47.0        —          (0.6      46.4  
  

 

 

    

 

 

    

 

 

    

 

 

 

Balance at September 30, 2017

   $  19.0      $  (0.6    $  (43.9    $  (25.5

Balance at December 31, 2017

   $ 5.8      $  (2.4    $ (42.6    $ (39.2

Amounts classified into accumulated other comprehensive loss

     (9.5      6.2        (3.0      (6.3

Amounts reclassified from accumulated other comprehensive loss

     —          (0.4      0.2        (0.2
  

 

 

    

 

 

    

 

 

    

 

 

 

Net current-period other comprehensive income (loss)

     (9.5      5.8        (2.8      (6.5
  

 

 

    

 

 

    

 

 

    

 

 

 

Balance at September 30, 2018

   $  (3.7    $ 3.4      $ (45.4    $ (45.7

 

  (a) 

See Note 12, “Defined Benefit Plans,” for further information on the adjustments related to defined benefit plans.

The reclassifications out of accumulated other comprehensive loss for the nine and three months ended September 30, 2018 and 2017 were as follows:

 

(In millions)  

Details about Accumulated Other Comprehensive Loss Components

   Amount Reclassified from
Accumulated Other Comprehensive Loss
Nine Months Ended September 30,
     Affected Line Item in
the Statement of
Comprehensive Income
 
     2018      2017         

(Losses) gains on cash flow hedges

        

Foreign exchange contracts

   $ 0.8      $  0.5        Cost of products sold  

Commodity contracts

     (0.3      0.4        Cost of products sold  
  

 

 

    

 

 

    
     0.5        0.9        Total before tax  
     (0.1      (0.3      Tax expense  
  

 

 

    

 

 

    
   $ 0.4      $ 0.6        Net of tax  

Defined benefit plan items

        

Recognition of prior service credits

   $      $ 5.1        (a)  

Recognition of actuarial (losses) gains

     (0.3      1.3        (a)  
  

 

 

    

 

 

    
     (0.3      6.4        Total before tax  
     0.1        (2.3      Tax expense  
  

 

 

    

 

 

    
   $ (0.2    $ 4.1        Net of tax  
  

 

 

    

 

 

    

Total reclassifications for the period

   $ 0.2      $ 4.7        Net of tax  

 

(In millions)  

Details about Accumulated Other Comprehensive Loss Components

   Amount Reclassified from
Accumulated Other Comprehensive Loss
Three Months Ended September 30,
     Affected Line Item in
the Statement of
Comprehensive Income
 
     2018      2017         

Gains (losses) on cash flow hedges

        

Foreign exchange contracts

   $ 0.8      $ (0.5      Cost of products sold  

Commodity contracts

     (0.3      0.4        Cost of products sold  
  

 

 

    

 

 

    
     0.5        (0.1      Total before tax  
     (0.1      0.2        Tax expense  
  

 

 

    

 

 

    
   $ 0.4      $ 0.1        Net of tax  

Defined benefit plan items

        

Recognition of actuarial (losses) gains

     (0.3      1.3        (a)  
  

 

 

    

 

 

    
     (0.3      1.3        Total before tax  
     0.1        (0.4      Tax expense  
  

 

 

    

 

 

    
   $ (0.2    $ 0.9        Net of tax  
  

 

 

    

 

 

    

Total reclassifications for the period

   $ 0.2      $ 1.0        Net of tax  

 

  (a)

These accumulated other comprehensive loss components are included in the computation of net periodic benefit cost. Refer to Note 12, “Defined Benefit Plans,” for additional information.