v3.3.0.814
ACCUMULATED OTHER COMPREHENSIVE LOSS AND OTHER COMPREHENSIVE INCOME (LOSS) (Tables)
 9 Months Ended
Sep. 30, 2015
Comprehensive Income Net Of Tax [Abstract]  
Schedule of amounts recorded in accumulated other comprehensive loss, net of tax, and changes within the period

Amounts recorded in accumulated other comprehensive loss, net of tax, as of September 30, 2015 and December 31, 2014, and changes within those periods are as follows:

 

(In millions)

 

Foreign

Currency

Items

 

 

Derivative Cash Flow Hedges

 

 

Accrued

Pension and

OPEB Plan

Liabilities

 

 

Accumulated

Other

Comprehensive

Loss

Balance at January 1, 2015

 

  $

(20.4

)

 

  $

(8.3

)

 

  $

(45.0

)

 

  $

(73.7

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other comprehensive income (loss) before reclassifications

 

 

(57.0

)

 

 

13.0

 

 

 

22.4

 

 

 

(21.6

)

 

Amounts reclassified from accumulated other

   comprehensive loss, net of tax

 

 

-

 

 

 

(6.0

)

 

 

(3.1

)

 

 

(9.1

)

 

Net current period other comprehensive income (loss)

 

 

(57.0

)

 

 

7.0

 

 

 

19.3

 

 

 

(30.7

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance at September 30, 2015

 

  $

(77.4

)

 

  $

(1.3

)

 

  $

(25.7

)

 

  $

(104.4

)

 

 
Schedule of components of other comprehensive income (loss)

The components of other comprehensive loss for the three and nine month periods ended September 30, 2015 and 2014 are as follows:

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

(In millions)

 

2015

 

 

2014

 

 

2015

 

 

2014

 

Change in foreign currency translation adjustment:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Foreign currency translation adjustments

 

  $

(46.3

)

 

  $

(27.4

)

 

  $

(69.6

)

 

  $

(29.3

)

Tax benefit

 

 

(6.9

)

 

 

(10.8

)

 

 

(8.8

)

 

 

(11.4

)

Foreign currency translation adjustments, net of tax

 

  $

(39.4

)

 

  $

(16.6

)

 

  $

(60.8

)

 

  $

(17.9

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Change in derivative cash flow hedges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commodity hedge contracts

 

  $

0.2

 

 

  $

1.8

 

 

  $

7.3

 

 

  $

1.7

 

Equity interest in investee's other comprehensive income (loss)

 

 

-

 

 

 

(0.4

)

 

 

3.9

 

 

 

(0.9

)

Pre-tax amount

 

 

0.2

 

 

 

1.4

 

 

 

11.2

 

 

 

0.8

 

Tax expense

 

 

0.1

 

 

 

0.5

 

 

 

4.2

 

 

 

0.3

 

Derivative cash flow hedges, net of tax

 

  $

0.1

 

 

  $

0.9

 

 

  $

7.0

 

 

  $

0.5

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Change in pension and OPEB liability adjustments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amortization of actuarial gain (loss) and prior service credit

 

  $

(1.8

)

 

  $

(2.3

)

 

  $

(5.0

)

 

  $

(7.1

)

Other pension and OPEB plan adjustments

 

 

35.7

 

 

 

-

 

 

 

36.1

 

 

 

-

 

Pre-tax amount

 

 

33.9

 

 

 

(2.3

)

 

 

31.1

 

 

 

(7.1

)

Tax expense (benefit)

 

 

12.7

 

 

 

(0.9

)

 

 

11.8

 

 

 

(2.7

)

Pension and OPEB liability adjustments, net of tax

 

  $

21.2

 

 

  $

(1.4

)

 

  $

19.3

 

 

  $

(4.4

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other comprehensive loss, before income taxes

 

  $

(12.2

)

 

  $

(28.3

)

 

  $

(27.3

)

 

  $

(35.6

)

Tax expense (benefit) for the period

 

 

5.9

 

 

 

(11.2

)

 

 

7.2

 

 

 

(13.8

)

Other comprehensive loss, net of tax

 

  $

(18.1

)

 

  $

(17.1

)

 

  $

(34.5

)

 

  $

(21.8

)

 
Schedule of components of other comprehensive income (loss) that have been reclassified

The components of other comprehensive loss that have been reclassified during the three and nine month periods ended September 30, 2015 and 2014 are as follows:

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

Affected Line Items

on the Unaudited

Condensed Consolidated

(In millions)

 

2015

 

 

2014

 

 

2015

 

 

2014

 

 

Statements of Operations

Details about other comprehensive loss components:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Change in derivative cash flow hedges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loss on derivative cash flow hedges

 

  $

(1.0

)

 

  $

-

 

 

  $

(9.7

)

 

  $

-

 

 

Cost of sales

Tax benefit

 

 

(0.4

)

 

 

-

 

 

 

(3.7

)

 

 

-

 

 

Provision for income taxes

Reclassifications for the period, net of tax

  $

(0.6

)

 

  $

-

 

 

  $

(6.0

)

 

  $

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Change in pension and OPEB liability adjustments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amortization of actuarial gain (loss) and prior

   service credit

  $

(1.8

)

 

  $

(2.3

)

 

  $

(5.0

)

 

  $

(7.1

)

 

Cost of sales and selling, general and administrative expenses

Tax benefit

 

 

(0.7

)

 

 

(0.9

)

 

 

(1.9

)

 

 

(2.7

)

 

Provision for income taxes

Reclassifications for the period, net of tax

  $

(1.1

)

 

  $

(1.4

)

 

  $

(3.1

)

 

  $

(4.4

)