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Changes in Equity and Comprehensive Income (Tables) | 3 Months Ended
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Mar. 31, 2021
Equity [Abstract] |
Summary Of Changes In Equity | A summary of changes in equity for the year-to-date interim periods ended March 31, 2021 and 2020 is provided below:
(in millions, except share data) | Common Shares Issued at Par Value |  | Capital Surplus |  | Retained Earnings |  | Accumulated Other Comprehensive Loss |  | Treasury Stock |  | Total Share- holders’ Equity |  | Non-controlling Interest |  | Total Equity
BALANCE DECEMBER 31, 2020 | 72.4 |  |  | $ | 330.7 |  |  | $ | 2,192.8 |  |  | $ | (466.4) |  |  | $ | (600.6) |  |  | $ | 1,528.9 |  |  | $ | 2.2 |  |  | $ | 1,531.1 |
Net income | — |  |  | — |  |  | 108.4 |  |  | — |  |  | — |  |  | 108.4 |  |  | — |  |  | 108.4 |
Cash dividends ($0.43 per share) | — |  |  | — |  |  | (25.0) |  |  | — |  |  | — |  |  | (25.0) |  |  | — |  |  | (25.0) |
Impact from settlement of share-based awards, net of shares acquired | — |  |  | (2.3) |  |  | — |  |  | — |  |  | 9.5 |  |  | 7.2 |  |  | — |  |  | 7.2 |
Stock-based compensation expense | — |  |  | 6.3 |  |  | — |  |  | — |  |  | — |  |  | 6.3 |  |  | — |  |  | 6.3 |
Changes in pension and postretirement plan assets and benefit obligation, net of tax | — |  |  | — |  |  | — |  |  | 4.9 |  |  | — |  |  | 4.9 |  |  | — |  |  | 4.9 |
Currency translation adjustment | — |  |  | — |  |  | — |  |  | (35.7) |  |  | — |  |  | (35.7) |  |  | 0.8 |  |  | (34.9) |
BALANCE MARCH 31, 2021 | 72.4 |  |  | $ | 334.7 |  |  | $ | 2,276.2 |  |  | $ | (497.2) |  |  | $ | (591.1) |  |  | $ | 1,595.0 |  |  | $ | 3.0 |  |  | $ | 1,598.0 |
(in millions, except share data) | Common Shares Issued at Par Value |  | Capital Surplus |  | Retained Earnings |  | Accumulated Other Comprehensive Loss |  | Treasury Stock |  | Total Share- holders’ Equity |  | Non-controlling Interest |  | Total Equity
BALANCE DECEMBER 31, 2019 | 72.4 |  |  | $ | 315.6 |  |  | $ | 2,112.2 |  |  | $ | (483.7) |  |  | $ | (542.8) |  |  | $ | 1,473.7 |  |  | $ | 2.6 |  |  | $ | 1,476.3 |
Net income | — |  |  | — |  |  | 62.8 |  |  | — |  |  | — |  |  | 62.8 |  |  | — |  |  | 62.8 |
Cash dividends ($0.43 per share) | — |  |  | — |  |  | (25.5) |  |  | — |  |  | — |  |  | (25.5) |  |  | — |  |  | (25.5) |
Reacquisition on open market of 1,221,233 shares | — |  |  | — |  |  | — |  |  | — |  |  | (70.0) |  |  | (70.0) |  |  | — |  |  | (70.0) |
Impact from settlement of share-based awards, net of shares acquired | — |  |  | (6.0) |  |  | — |  |  | — |  |  | 6.0 |  |  | — |  |  | — |  |  | — |
Stock-based compensation expense | — |  |  | 5.8 |  |  | — |  |  | — |  |  | — |  |  | 5.8 |  |  | — |  |  | 5.8 |
Changes in pension and postretirement plan assets and benefit obligation, net of tax | — |  |  | — |  |  | — |  |  | 3.6 |  |  | — |  |  | 3.6 |  |  | — |  |  | 3.6 |
Currency translation adjustment | — |  |  | — |  |  | — |  |  | (45.2) |  |  | — |  |  | (45.2) |  |  | (0.3) |  |  | (45.5) |
BALANCE MARCH 31, 2020 | 72.4 |  |  | $ | 315.4 |  |  | $ | 2,149.5 |  |  | $ | (525.3) |  |  | $ | (606.8) |  |  | $ | 1,405.2 |  |  | $ | 2.3 |  |  | $ | 1,407.5 |
Classification Of Accumulated Other Comprehensive Income Reflected On Consolidated Balance Sheets | The table below provides the accumulated balances for each classification of accumulated other comprehensive income (loss), as reflected on our Condensed Consolidated Balance Sheets.
(in millions) | Defined Benefit Pension and Postretirement Items |  | Currency Translation Adjustment |  | Total a
Balance as of December 31, 2020 | $ | (397.9) |  |  | $ | (68.5) |  |  | $ | (466.4) |
| Other comprehensive income (loss) before reclassifications | — |  |  | (35.7) |  |  | (35.7) |
| Amounts reclassified from accumulated other comprehensive loss | 4.9 |  |  | — |  |  | 4.9 |
Net period other comprehensive income (loss) | 4.9 |  |  | (35.7) |  |  | (30.8) |
Balance as of March 31, 2021 | $ | (393.0) |  |  | $ | (104.2) |  |  | $ | (497.2) |
a | Net of tax benefit of $149.5 million and $148.2 million as of March 31, 2021 and December 31, 2020, respectively.
Amounts Reclassified out of each Component of AOCI | The table below illustrates the amounts reclassified out of each component of accumulated other comprehensive loss for the three-month periods ended March 31, 2021 and 2020. Amortization of pension and postretirement components have been recorded within “Miscellaneous income, net” on our Condensed Consolidated Statements of Operations.
|  |  |  | Three Months Ended March 31,
(in millions) |  |  |  |  |  | 2021 |  | 2020
Amortization of pension items: |  |  |  |  |  |  |  |
Prior-service costs |  |  |  |  |  | $ | — |  |  | $ | (0.1) |
Net loss |  |  |  |  |  | 6.5 |  |  | 4.8 |
Amortization of postretirement items: |  |  |  |  |  |  |  |
Prior-service costs |  |  |  |  |  | (0.3) |  |  | (0.3) |
Total before tax |  |  |  |  |  | 6.2 |  |  | 4.4 |
Tax impact |  |  |  |  |  | 1.3 |  |  | 1.0 |
Total reclassifications for the period |  |  |  |  |  | $ | 4.9 |  |  | $ | 3.4 |

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