Footnote 4 — Accumulated Other Comprehensive Loss

Accumulated Other Comprehensive Loss

The following tables display the changes in accumulated other comprehensive loss (“AOCI”) by component net of tax for the six months ended June 30, 2017 (in millions):


	Cumulative Translation Adjustment			Pension and Postretirement Costs			Derivative Financial Instruments			AOCI
Balance at December 31, 2016	$	(607.9	)	$	(400.0	)	$	(36.9	)	$	(1,044.8	)
Other comprehensive (loss) income before reclassifications		177.5			(7.1	)		(18.3	)		152.1
Amounts reclassified to earnings		64.4			5.7			(2.4	)		67.7

Net current period other comprehensive income (loss)		241.9			(1.4	)		(20.7	)		219.8

Balance at June 30, 2017	$	(366.0	)	$	(401.4	)	$	(57.6	)	$	(825.0	)

For the three and six months ended June 30, 2017 and 2016, reclassifications from AOCI to the results of operations for the Company’s pension and postretirement benefit plans were a pre-tax expense of $4.2 million and $3.5 million, respectively, and $8.4 million and $7.0 million, respectively, and primarily represent the amortization of net actuarial losses (see Footnote 12). These costs are recorded in selling, general and administrative expenses (“SG&A) and cost of sales. For the three and six months ended June 30, 2017 and 2016, reclassifications from AOCI to the results of operations for the Company’s derivative financial instruments for effective cash flow hedges were pre-tax (income) expense of ($3.4) million and $16.3 million, respectively, and ($3.1) million and $26.6 million, respectively (see Footnote 11).

The income tax (provision) benefit allocated to the components of other comprehensive income (loss) (“OCI”) for the periods indicated are as follows (in millions):


	Three Months Ended June 30,						Six Months Ended June 30,
	2017			2016			2017			2016
Foreign currency translation adjustments	$	2.9		$	—		$	1.1		$	—
Unrecognized pension and postretirement costs		(1.4	)		(1.0	)		(2.7	)		(2.3	)
Derivative financial instruments		2.2			(3.0	)		6.6			31.9

Income tax (provision) benefit related to OCI	$	3.7		$	(4.0	)	$	5.0		$	29.6