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Accumulated Other Comprehensive (Loss) Income (Tables) | 12 Months Ended
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Dec. 31, 2020
Equity [Abstract] |
Schedule of Accumulated Other Comprehensive Income (Loss) | The following table presents the changes in the accumulated balances for each component of AOCI (in millions of dollars):
|  | Year Ended December 31, |
|  | 2020 |  |  | 2019 |  |  | 2018 |
Defined Benefit Pension Plan and Salaried VEBA: |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance |  | $ | (33.2 | ) |  | $ | (35.6 | ) |  | $ | (38.5 | )
Actuarial gain (loss) arising during the period |  |  | 0.4 |  |  |  | (0.4 | ) |  |  | 4.4 |
Less: income tax (expense) benefit |  |  | (0.1 | ) |  |  | 0.1 |  |  |  | (1.1 | )
Net actuarial gain (loss) arising during the period |  |  | 0.3 |  |  |  | (0.3 | ) |  |  | 3.3 |
Prior service credit (cost) arising during the period |  |  | 12.3 |  |  |  | (2.5 | ) |  |  | (6.9 | )
Less: income tax (expense) benefit |  |  | (3.0 | ) |  |  | 0.6 |  |  |  | 1.7 |
Net prior service credit (cost) arising during the period |  |  | 9.3 |  |  |  | (1.9 | ) |  |  | (5.2 | )
Amortization of net actuarial loss1 |  |  | 0.4 |  |  |  | 0.5 |  |  |  | 0.9 |
Amortization of prior service cost1 |  |  | 4.7 |  |  |  | 5.6 |  |  |  | 5.4 |
Less: income tax expense2 |  |  | (1.2 | ) |  |  | (1.4 | ) |  |  | (1.5 | )
Net amortization and reclassification from AOCI to Net income |  |  | 3.9 |  |  |  | 4.7 |  |  |  | 4.8 |
Translation impact on Canadian pension plan AOCI balance |  |  | (0.1 | ) |  |  | (0.1 | ) |  |  | — |
Other comprehensive income, net of tax |  |  | 13.4 |  |  |  | 2.4 |  |  |  | 2.9 |
Ending balance |  | $ | (19.8 | ) |  | $ | (33.2 | ) |  | $ | (35.6 | )
Available for Sale Securities: |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance3 |  | $ | 0.3 |  |  | $ | 0.3 |  |  | $ | 0.9 |
Unrealized gain on available for sale securities |  |  | 1.3 |  |  |  | 4.4 |  |  |  | 4.7 |
Less: income tax expense |  |  | (0.7 | ) |  |  | (1.1 | ) |  |  | (1.1 | )
Net unrealized gain on available for sale securities |  |  | 0.6 |  |  |  | 3.3 |  |  |  | 3.6 |
Reclassification of unrealized gain upon sale of available for sale securities4 |  |  | (2.0 | ) |  |  | (4.4 | ) |  |  | (5.4 | )
Less: income tax benefit2 |  |  | 1.1 |  |  |  | 1.1 |  |  |  | 1.2 |
Net gain reclassified from AOCI to Net income |  |  | (0.9 | ) |  |  | (3.3 | ) |  |  | (4.2 | )
Other comprehensive loss, net of tax |  |  | (0.3 | ) |  |  | — |  |  |  | (0.6 | )
Ending balance |  | $ | — |  |  | $ | 0.3 |  |  | $ | 0.3 |
Cash Flow Hedges: |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance |  | $ | (5.6 | ) |  | $ | (13.4 | ) |  | $ | 0.5 |
Unrealized loss on cash flow hedges |  |  | (9.4 | ) |  |  | (9.5 | ) |  |  | (21.2 | )
Less: income tax benefit |  |  | 2.3 |  |  |  | 2.3 |  |  |  | 5.3 |
Net unrealized loss on cash flow hedges |  |  | (7.1 | ) |  |  | (7.2 | ) |  |  | (15.9 | )
Reclassification of unrealized loss upon settlement of cash flow hedges5 |  |  | 17.4 |  |  |  | 19.7 |  |  |  | 2.7 |
Reclassification due to forecasted transactions no longer probable of occurring5 |  |  | 0.8 |  |  |  | — |  |  |  | — |
Less: income tax expense2 |  |  | (4.4 | ) |  |  | (4.7 | ) |  |  | (0.7 | )
Net loss reclassified from AOCI to Net income |  |  | 13.8 |  |  |  | 15.0 |  |  |  | 2.0 |
Other comprehensive income (loss), net of tax |  |  | 6.7 |  |  |  | 7.8 |  |  |  | (13.9 | )
Ending balance |  | $ | 1.1 |  |  | $ | (5.6 | ) |  | $ | (13.4 | )
Fair Value Hedges: |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance |  | $ | — |  |  | $ | — |  |  | $ | — |
Unrealized loss on fair value hedges |  |  | (1.0 | ) |  |  | — |  |  |  | — |
Less: income tax benefit |  |  | 0.2 |  |  |  | — |  |  |  | — |
Net unrealized loss on fair value hedges |  |  | (0.8 | ) |  |  | — |  |  |  | — |
Excluded component amortized from OCI to Net income |  |  | 0.4 |  |  |  | — |  |  |  | — |
Reclassification due to cancellation of firm commitment |  |  | 0.6 |  |  |  | — |  |  |  | — |
Less: income tax expense2 |  |  | (0.2 | ) |  |  | — |  |  |  | — |
Net loss reclassified from AOCI to Net income |  |  | 0.8 |  |  |  | — |  |  |  | — |
Other comprehensive income, net of tax |  |  | — |  |  |  | — |  |  |  | — |
Ending balance |  | $ | — |  |  | $ | — |  |  | $ | — |
Foreign Currency Translation: |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance |  | $ | (0.1 | ) |  | $ | (0.1 | ) |  | $ | — |
Other comprehensive income (loss), net of tax |  |  | 0.1 |  |  |  | — |  |  |  | (0.1 | )
Ending balance |  | $ | — |  |  | $ | (0.1 | ) |  | $ | (0.1 | )
Total AOCI ending balance |  | $ | (18.7 | ) |  | $ | (38.6 | ) |  | $ | (48.8 | )
1. | Amounts amortized out of AOCI relating to Salaried VEBA adjustments were included within Other expense, net, as a component of Net periodic postretirement benefit cost relating to Salaried VEBA.
2. | Income tax amounts reclassified out of AOCI were included as a component of Income tax provision.
3. | The beginning unrealized gain within Available for sale securities as of January 1, 2018 includes a $0.4 million cumulative‑effect adjustment from our adoption of ASU 2016-01, which required us to remove cumulative gains on equity investments related to our deferred compensation plan as they are no longer accounted for as available for sale securities (see Note 1 and Note 8 for additional details).
4. | Amounts reclassified out of AOCI relating to sales of available for sale securities were included as a component of Other expense, net. We use the specific identification method to determine the amount reclassified out of AOCI.
5. | Amounts reclassified out of AOCI relating to cash flow hedges were included as a component of Cost of products sold. As of December 31, 2020, we estimate a net mark-to-market loss before tax of $4.7 million in AOCI will be reclassified into Net income within the next 12 months.

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