Accumulated Other Comprehensive Loss ("AOCL")

6 Months Ended

Jun. 30, 2024


Components of AOCL:	June 30, 2024		December 31, 2023
Defined benefit plan liabilities	$	(101.8)	$	(101.8)
Unrealized gain on financial instruments	1.4		1.6
Other comprehensive loss before income tax effect	(100.4)		(100.2)
Income tax effect(1)	2.3		2.3
Accumulated other comprehensive loss	$	(98.1)	$	(97.9)

(1)The allocation of the income tax effect to the components of other comprehensive loss is as follows:


	June 30, 2024		December 31, 2023
Defined benefit plan liabilities	$	2.6	$	2.6

Unrealized gain on financial instruments	(0.3)		(0.3)

The following table summarizes the changes in the accumulated balances for each component of AOCL:


	Defined benefit plan and other postretirement liabilities		Unrealized gain on financial instruments		Total, net of tax
Balance, March 31, 2024	$	(101.0)	$	1.4	$	(99.6)

Net amount reclassified to net income (loss)	1.5		—		1.5
Balance, June 30, 2024	$	(99.5)	$	1.4	$	(98.1)

Balance, March 31, 2023	$	(94.4)	$	1.5	$	(92.9)
Net amount reclassified to net income (loss)	2.2		—		2.2
Balance, June 30, 2023	$	(92.2)	$	1.5	$	(90.7)

Balance, December 31, 2023	$	(99.4)	$	1.5	$	(97.9)
Other comprehensive loss before reclassifications	(3.4)		—		(3.4)
Net amount reclassified to net income (loss)	$	3.3	$	(0.1)	$	3.2
Balance, June 30, 2024	$	(99.5)	$	1.4	$	(98.1)

Balance, December 31, 2022	$	(95.6)	$	1.6	$	(94.0)
Net amount reclassified to net income (loss)	3.4		(0.1)		3.3
Balance, June 30, 2023	$	(92.2)	$	1.5	$	(90.7)

Reclassifications out of AOCL were included in the consolidated statements of operations as follows:


		Three months ended June 30,				Six months ended June 30,
AOCL Components	Location	2024		2023		2024		2023
Defined benefit plan and other postretirement liabilities	Cost of goods sold	$	0.7	$	1.4	$	1.6	$	2.2
	Selling, general and administrative expenses	0.1		0.1		0.3		0.3
	Other operating expense - net	0.7		0.7		1.4		0.9
	Income tax effect	—		—		—		—
	Net of tax	$	1.5	$	2.2	$	3.3	$	3.4

Unrealized gain (loss) on financial instruments	Cost of goods sold	$	—	$	—	$	(0.1)	$	(0.1)
	Income tax effect	—		—		—		—
	Net of tax	$	—	$	—	$	(0.1)	$	(0.1)