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Accumulated Other Comprehensive Loss | 6 Months Ended
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Jun. 30, 2018
Equity [Abstract] |
Accumulated Other Comprehensive Loss | Footnote 5 — Accumulated Other Comprehensive Loss Accumulated Other Comprehensive Loss The following tables display the changes in AOCI by component net of tax for the six months ended June 30, 2018 (in millions):
|  | Cumulative Translation Adjustment |  |  | Pension and Postretirement Costs |  |  | Derivative Financial Instruments |  |  | AOCI |
Balance at December 31, 2017 |  | $ | (318.8 | ) |  | $ | (385.5 | ) |  | $ | (58.8 | ) |  | $ | (763.1 | )
Other comprehensive (loss) income before reclassifications |  |  | (175.0 | ) |  |  | (29.0 | ) |  |  | 5.3 |  |  |  | (198.7 | )
Amounts reclassified to earnings |  |  | 16.8 |  |  |  | 5.1 |  |  |  | 12.3 |  |  |  | 34.2 |
Net current period other comprehensive income (loss) |  |  | (158.2 | ) |  |  | (23.9 | ) |  |  | 17.6 |  |  |  | (164.5 | )
Reclassification to retained earnings (1) |  |  | — |  |  |  | (54.5 | ) |  |  | (8.1 | ) |  |  | (62.6 | )
Balance at June 30, 2018 |  | $ | (477.0 | ) |  | $ | (463.9 | ) |  | $ | (49.3 | ) |  | $ | (990.2 | )
(1) | Reclassification is due to the adoption of ASU 2018-02 (see Footnote 1).
For the three and six months ended June 30, 2018 and 2017, reclassifications from AOCI to the results of operations for the Company’s pension and postretirement benefit plans were a pre-tax expense of $3.4 million and $4.2 million, respectively, and $6.9 million and $8.4 million, respectively, and primarily represent the amortization of net actuarial losses (see Footnote 13). These costs are recorded in other expense (income), net. For the three and six months ended June 30, 2018 and 2017, 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 $6.2 million and ($3.4) million, respectively, and $19.3 million and ($3.1) million, respectively (see Footnote 12). The amounts reclassified to earnings from the cumulative translation adjustment is due to divestitures (see Footnote 4). 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, |
|  | 2018 |  |  | 2017 |  |  | 2018 |  |  | 2017 |
Foreign currency translation adjustments |  | $ | (8.4 | ) |  | $ | 2.9 |  |  | $ | (0.5 | ) |  | $ | 1.1 |
Unrecognized pension and postretirement costs |  |  | 4.0 |  |  |  | (1.4 | ) |  |  | 8.0 |  |  |  | (2.7 | )
Derivative financial instruments |  |  | (9.9 | ) |  |  | 2.2 |  |  |  | (10.0 | ) |  |  | 6.6 |
Income tax (provision) benefit related to OCI |  | $ | (14.3 | ) |  | $ | 3.7 |  |  | $ | (2.5 | ) |  | $ | 5.0 |

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- Definition The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -URI http://asc.fasb.org/topic&trid=2134417 + Details
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- References No definition available. + Details
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