Equity (Tables)

12 Months Ended

Dec. 31, 2022

Schedule of Accumulated Other Comprehensive Income (Loss)

Accumulated other comprehensive income (loss)

Summarized below is the roll forward of AOCI, net of tax.


	Years Ended December 31,
In millions	2022		2021		2020
Foreign currency translation
Beginning balance	$	18.4	$	16.4	$	1.5


Net gains (losses) on foreign currency translation	(74.9)		(5.3)		23.9
Gains (losses) on net investment hedges	13.9		9.6		(11.7)
Less: tax provision (benefit)	3.2		2.3		(2.7)
Net gains (losses) on net investment hedges	10.7		7.3		(9.0)
Other comprehensive income (loss), net of tax	(64.2)		2.0		14.9
Ending balance	$	(45.8)	$	18.4	$	16.4

Derivative instruments
Beginning balance	$	(2.1)	$	(6.9)	$	(3.5)
Gains (losses) on derivative instruments	11.1		7.2		(5.6)
Less: tax provision (benefit)	2.6		1.7		(1.3)
Net gains (losses) on derivative instruments	8.5		5.5		(4.3)
(Gains) losses reclassified to net income	(10.2)		(1.0)		1.2
Less: tax (provision) benefit	(2.4)		(0.3)		0.3
Net (gains) losses reclassified to net income	(7.8)		(0.7)		0.9
Other comprehensive income (loss), net of tax	0.7		4.8		(3.4)
Ending balance	$	(1.4)	$	(2.1)	$	(6.9)

Pension and other postretirement benefits
Beginning balance	$	(3.2)	$	(4.8)	$	(3.0)
Unrealized actuarial gains (losses) and prior service (costs) credits	4.4		1.9		(2.7)
Less: tax provision (benefit)	1.0		0.4		(0.6)
Net actuarial gains (losses) and prior service (costs) credits	3.4		1.5		(2.1)
Amortization of actuarial and other (gains) losses, prior service cost (credits), and settlement and curtailment (income) charge reclassified to net income	0.3		0.2		0.3
Less: tax (provision) benefit	0.1		0.1		—
Net actuarial and other (gains) losses, amortization of prior service cost (credits), and settlement and curtailment (income) charge reclassified to net income	0.2		0.1		0.3

Other comprehensive income (loss), net of tax	3.6		1.6		(1.8)
Ending balance	$	0.4	$	(3.2)	$	(4.8)

Total AOCI ending balance at December 31	$	(46.8)	$	13.1	$	4.7

Reclassifications of accumulated other comprehensive income (loss)

The table below provides details about the reclassifications from AOCI and the affected line items on the consolidated statement of operations for each of the periods presented.


	Years Ended December 31,
In millions	2022		2021		2020

Derivative Instruments
Currency exchange contracts (1)	$	2.0	$	0.3	$	(0.1)
Natural gas contracts (2)	6.5		0.7		(1.1)
Interest rate swaps (4)	1.7		—		—
Total before tax	10.2		1.0		(1.2)
(Provision) benefit for income taxes	(2.4)		(0.3)		0.3
Amount included within net income (loss)	$	7.8	$	0.7	$	(0.9)

Pension and other postretirement benefits
Amortization of prior service credit (costs) (2)	$	(0.1)	$	(0.1)	$	(0.1)
Amortization of unrecognized net actuarial and other gains (losses) (3)	—		(0.1)		(0.1)
Recognized gain (loss) due to curtailment and settlement (2)	(0.2)		—		(0.1)
Total before tax	(0.3)		(0.2)		(0.3)
(Provision) benefit for income taxes	0.1		0.1		—
Amount included within net income (loss)	$	(0.2)	$	(0.1)	$	(0.3)
_______________
(1) Included within "Net sales" on the consolidated statements of operations.
(2) Included within "Cost of sales" on the consolidated statements of operations.
(3) Included within "Other (income) expense, net" on the consolidated statements of operations.
(4) Included within "Interest income" on the consolidated statements of operations.