XML 39 R28.htm IDEA: XBRL DOCUMENT
v3.21.2

Changes in Equity and Comprehensive Income (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2021
Equity [Abstract] |
Summary Of Changes In Equity | A summary of changes in equity for the year-to-date interim periods ended September 30, 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 |
Net income | — |  |  | — |  |  | 138.3 |  |  | — |  |  | — |  |  | 138.3 |  |  | — |  |  | 138.3 |
Cash dividends ($0.43 per share) | — |  |  | — |  |  | (25.2) |  |  | — |  |  | — |  |  | (25.2) |  |  | — |  |  | (25.2) |
Impact from settlement of share-based awards, net of shares acquired | — |  |  | 7.6 |  |  | — |  |  | — |  |  | (9.5) |  |  | (1.9) |  |  | — |  |  | (1.9) |
Stock-based compensation expense | — |  |  | 6.1 |  |  | — |  |  | — |  |  | — |  |  | 6.1 |  |  | — |  |  | 6.1 |
Changes in pension and postretirement plan assets and benefit obligation, net of tax | — |  |  | — |  |  | — |  |  | 5.2 |  |  | — |  |  | 5.2 |  |  | — |  |  | 5.2 |
Currency translation adjustment | — |  |  | — |  |  | — |  |  | 7.7 |  |  | — |  |  | 7.7 |  |  | (0.1) |  |  | 7.6 |
BALANCE JUNE 30, 2021 | 72.4 |  |  | $ | 348.4 |  |  | $ | 2,389.3 |  |  | $ | (484.3) |  |  | $ | (600.6) |  |  | $ | 1,725.2 |  |  | $ | 2.9 |  |  | $ | 1,728.1 |
Net income | — |  |  | — |  |  | 116.6 |  |  | — |  |  | — |  |  | 116.6 |  |  | — |  |  | 116.6 |
Cash dividends ($0.43 per share) | — |  |  | — |  |  | (25.3) |  |  | — |  |  | — |  |  | (25.3) |  |  | — |  |  | (25.3) |
Impact from settlement of share-based awards, net of shares acquired | — |  |  | 2.0 |  |  | — |  |  | — |  |  | 2.6 |  |  | 4.6 |  |  | — |  |  | 4.6 |
Stock-based compensation expense | — |  |  | 6.0 |  |  | — |  |  | — |  |  | — |  |  | 6.0 |  |  | — |  |  | 6.0 |
Changes in pension and postretirement plan assets and benefit obligation, net of tax | — |  |  | — |  |  | — |  |  | 5.2 |  |  | — |  |  | 5.2 |  |  | — |  |  | 5.2 |
Currency translation adjustment | — |  |  | — |  |  | — |  |  | (24.7) |  |  | — |  |  | (24.7) |  |  | (0.1) |  |  | (24.8) |
BALANCE SEPTEMBER 30, 2021 | 72.4 |  |  | $ | 356.4 |  |  | $ | 2,480.6 |  |  | $ | (503.8) |  |  | $ | (598.0) |  |  | $ | 1,807.6 |  |  | $ | 2.8 |  |  | $ | 1,810.4 |
(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 |
Net income | — |  |  | — |  |  | 14.8 |  |  | — |  |  | — |  |  | 14.8 |  |  | — |  |  | $ | 14.8 |
Cash dividends ($0.43 per share) | — |  |  | — |  |  | (24.9) |  |  | — |  |  | — |  |  | (24.9) |  |  | — |  |  | (24.9) |
Impact from settlement of share-based awards, net of shares acquired | — |  |  | (1.4) |  |  | — |  |  | — |  |  | 1.9 |  |  | 0.5 |  |  | — |  |  | 0.5 |
Stock-based compensation expense | — |  |  | 4.7 |  |  | — |  |  | — |  |  | — |  |  | 4.7 |  |  | — |  |  | 4.7 |
Changes in pension and postretirement plan assets and benefit obligation, net of tax | — |  |  | — |  |  | — |  |  | 3.6 |  |  | — |  |  | 3.6 |  |  | — |  |  | 3.6 |
Currency translation adjustment | — |  |  | — |  |  | — |  |  | 17.2 |  |  | — |  |  | 17.2 |  |  | 0.2 |  |  | 17.4 |
BALANCE JUNE 30, 2020 | 72.4 |  |  | $ | 318.7 |  |  | $ | 2,139.4 |  |  | $ | (504.5) |  |  | $ | (604.9) |  |  | $ | 1,421.1 |  |  | $ | 2.5 |  |  | $ | 1,423.6 |
Net income | — |  |  | — |  |  | 56.6 |  |  | — |  |  | — |  |  | 56.6 |  |  | — |  |  | 56.6 |
Cash dividends ($0.43 per share) | — |  |  | — |  |  | (24.9) |  |  | — |  |  | — |  |  | (24.9) |  |  | — |  |  | (24.9) |
Impact from settlement of share-based awards, net of shares acquired | — |  |  | 0.1 |  |  | — |  |  | — |  |  | 3.5 |  |  | 3.6 |  |  |  |  | 3.6 |
Stock-based compensation expense | — |  |  | 5.7 |  |  | — |  |  | — |  |  | — |  |  | 5.7 |  |  | — |  |  | 5.7 |
Changes in pension and postretirement plan assets and benefit obligation, net of tax | — |  |  | — |  |  | — |  |  | 3.4 |  |  | — |  |  | 3.4 |  |  | — |  |  | 3.4 |
Currency translation adjustment | — |  |  | — |  |  | — |  |  | 41.0 |  |  | — |  |  | 41.0 |  |  | 0.1 |  |  | 41.1 |
BALANCE SEPTEMBER 30, 2020 | 72.4 |  |  | $ | 324.5 |  |  | $ | 2,171.1 |  |  | $ | (460.1) |  |  | $ | (601.4) |  |  | $ | 1,506.5 |  |  | $ | 2.6 |  |  | $ | 1,509.1 |
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 | — |  |  | (52.7) |  |  | (52.7) |
| Amounts reclassified from accumulated other comprehensive loss | 15.3 |  |  | — |  |  | 15.3 |
Net period other comprehensive income (loss) | 15.3 |  |  | (52.7) |  |  | (37.4) |
Balance as of September 30, 2021 | $ | (382.6) |  |  | $ | (121.2) |  |  | $ | (503.8) |
a | Net of tax benefit of $151.5 million and $148.2 million as of September 30, 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 and nine month periods ended September 30, 2021 and 2020. Amortization of pension and postretirement components has been recorded within “Miscellaneous income, net” on our Condensed Consolidated Statements of Operations.
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
(in millions) |  | 2021 |  | 2020 |  | 2021 |  | 2020
Amortization of pension items: |  |  |  |  |  |  |  |
Prior service costs |  | $ | (0.1) |  |  | $ | (0.1) |  |  | $ | (0.2) |  |  | $ | (0.2) |
Net loss |  | 6.5 |  |  | 4.8 |  |  | 19.6 |  |  | 14.5 |
Amortization of postretirement items: |  |  |  |  |  |  |  |
Prior service costs |  | (0.3) |  |  | (0.3) |  |  | (0.8) |  |  | (0.8) |
Total before tax |  | $ | 6.1 |  |  | $ | 4.4 |  |  | $ | 18.6 |  |  | $ | 13.5 |
Tax impact |  | 0.9 |  |  | 1.1 |  |  | 3.3 |  |  | 3.1 |
Total reclassifications for the period |  | $ | 5.2 |  |  | $ | 3.3 |  |  | $ | 15.3 |  |  | $ | 10.4 |

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 information about items reclassified out of accumulated other comprehensive income (loss). + References No definition available. + Details
Name: | us-gaap_ReclassificationOutOfAccumulatedOtherComprehensiveIncomeTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
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 changes in the separate accounts comprising stockholders' equity (in addition to retained earnings) and of the changes in the number of shares of equity securities during at least the most recent annual fiscal period and any subsequent interim period presented is required to make the financial statements sufficiently informative if both financial position and results of operations are presented. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21463-112644 + Details
Name: | us-gaap_ScheduleOfStockholdersEquityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration