Other Comprehensive Earnings

6 Months Ended

Jun. 30, 2024

Statement of Other Comprehensive Income [Abstract]

9. Other Comprehensive Earnings

The amounts recognized in other comprehensive loss were as follows::


	Three Months Ended
	June 30, 2024						June 30, 2023
(in millions)	Pre-tax		Tax		Net of tax		Pre-tax		Tax		Net of tax
Foreign currency translation	$	(3.2)	$	—	$	(3.2)	$	(13.3)	$	—	$	(13.3)
Employee benefit plans	0.2		—		0.2		0.1		0.1		0.2
Changes in fair value of cash flow hedges	(0.9)		(0.1)		(1.0)		(4.0)		0.4		(3.6)

Total other comprehensive loss	$	(3.9)	$	(0.1)	$	(4.0)	$	(17.2)	$	0.5	$	(16.7)

	Six Months Ended
	June 30, 2024						June 30, 2023
(in millions)	Pre-tax		Tax		Net of tax		Pre-tax		Tax		Net of tax
Foreign currency translation	$	(6.6)	$	—	$	(6.6)	$	(9.7)	$	—	$	(9.7)
Employee benefit plans	0.3		—		0.3		0.3		0.1		0.4
Changes in fair value of cash flow hedges	(1.5)		0.2		(1.3)		(4.1)		0.7		(3.4)

Total other comprehensive loss	$	(7.8)	$	0.2	$	(7.6)	$	(13.5)	$	0.8	$	(12.7)

The following tables summarize the changes in balances of each component of accumulated other comprehensive loss, net of tax during the six months ended June 30, 2024 and 2023:


(in millions)	Cash flow hedges		Employee benefit plans		Cumulative foreign currency translation adjustments		Total
Balance at December 31, 2023	$	(0.7)	$	(16.2)	$	(112.9)	$	(129.8)


Other comprehensive (loss) earnings, net of tax	(1.3)		0.3		(6.6)		(7.6)

Balance at June 30, 2024	$	(2.0)	$	(15.9)	$	(119.5)	$	(137.4)


(in millions)	Cash flow hedges		Employee benefit plans		Cumulative foreign currency translation adjustments		Total
Balance at December 31, 2022	$	1.0	$	(16.3)	$	(106.8)	$	(122.1)
Other comprehensive (loss) earnings, net of tax	(3.4)		0.4		(9.7)		(12.7)
Balance at June 30, 2023	$	(2.4)	$	(15.9)	$	(116.5)	$	(134.8)

The following tables summarize the amounts reclassified from accumulated other comprehensive loss to earnings:


		Three Months Ended June 30,
(in millions)	Statement of Earnings Line	2024		2023
Pension and post-retirement benefit plans:
Amortization or settlement of actuarial losses and prior service costs	Other expense (income), net	$	0.2	$	0.1
Tax	Provision for income taxes	—		0.1
Net of tax		$	0.2	$	0.2

Cash flow hedges:
Net losses reclassified into earnings	Cost of goods sold	$	0.4	$	0.5
Tax	Provision for income taxes	(0.1)		(0.1)
Net of tax		$	0.3	$	0.4

		Six Months Ended June 30,
(in millions)	Statement of Earnings Line	2024		2023
Pension and post-retirement benefit plans:
Amortization or settlement of actuarial losses and prior service costs	Other expense (income), net	$	0.3	$	0.3
Tax	Provision for income taxes	—		0.1
Net of tax		$	0.3	$	0.4

Cash flow hedges:
Net losses reclassified into earnings	Cost of goods sold	$	1.6	$	0.6
Tax	Provision for income taxes	(0.3)		(0.1)
Net of tax		$	1.3	$	0.5