v2.4.0.8
ACCUMULATED OTHER COMPREHENSIVE LOSS AND OTHER COMPREHENSIVE LOSS (Tables)
6 Months Ended
Jun. 30, 2013
ACCUMULATED OTHER COMPREHENSIVE LOSS AND OTHER COMPREHENSIVE LOSS  
Accumulated other comprehensive loss

 

 

(In millions)
  Foreign
Currency
Items
  Derivative
Cash Flow
Hedges
  Accrued
Pension
Benefit
Liability
  Accumulated
Other
Comprehensive
Loss
 

Balance at December 31, 2012

    $ 26.7     $ -     $ (48.6 )   $ (21.9 )
                   

 

                         

Other comprehensive income (loss) before reclassifications

    (17.7 )   (0.9 )   1.2     (17.4 )

Less: amounts reclassified from accumulated other comprehensive income into net income

    -     -     0.4     0.4  
                   

Net current period other comprehensive income (loss)

    (17.7 )   (0.9 )   0.8     (17.8 )
                   

 

                         

Balance at June 30, 2013

    $ 9.0     $ (0.9 )   $ (47.8 )   $ (39.7 )
                   
Components of other comprehensive loss

 

 

 
  Three Months Ended June 30,   Six Months Ended June 30,    
(In millions)
  2013   2012   2013   2012   Affected Line Items on the
Condensed Consolidated
Statements of Income

Change in foreign currency translation adjustment:

                           

Currency translation adjustments

    $ (15.0 )   $ (8.7 )   $ (26.6 )   $ (1.8 )  

Tax benefit

    (5.5 )   (4.3 )   $ (8.9 )   (0.8 )

Provision for income taxes

                     

Change in foreign currency translation adjustment, net of tax

    $ (9.5 )   $ (4.4 )   $ (17.7 )   $ (1.0 )  
                     

 

                           

Unrealized gain on derivatives:

                           

Commodity hedge contracts

    $ -     $ 2.1     $ -     $ 0.7  

Cost of sales

Interest rate swaps

    (0.9 )   -     $ (0.9 )   -    
                     

Pre-tax amount

    $ (0.9 )   $ 2.1     $ (0.9 )   $ 0.7    

Tax expense

    -     0.8     $ -     0.3  

Provision for income taxes

                     

Change in unrealized gain (loss) on derivatives,

    $ (0.9 )   $ 1.3     $ (0.9 )   $ 0.4    
                     

                           

Change in pension liability adjustment:

                           

Adjustments to pension liabilities

 
  $

0.5
 
  $

0.4
 
  $

1.1
 
  $

0.8
 

Cost of sales/selling, general and administrative expenses

Tax expense

    0.2     0.2     $ 0.3     0.2  

Provision for income taxes

                     

Pension liability adjustment, net of tax

    $ 0.3     $ 0.2     $ 0.8     $ 0.6    
                     

 

                           

Other comprehensive loss, before income taxes

    $ (15.4 )   $ (6.2 )   $ (26.4 )   $ (0.3 )  

Total tax benefit for the period

    (5.3 )   (3.3 )   $ (8.6 )   (0.3 )

Provision for income taxes

                     

Other comprehensive loss, net of tax

    $ (10.1 )   $ (2.9 )   $ (17.8 )   $ -