Accumulated Other Comprehensive Income (Loss) (Tables)

6 Months Ended

Jun. 30, 2016

The following table provides details of comprehensive income (loss) for the six months ended June 30, 2016 and 2015:

(In millions)	Unrecognized Pension Items			Cumulative Translation Adjustment			Unrecognized Gains (Losses) on Derivative Instruments for net investment hedge			Unrecognized Gains (Losses) on Derivative Instruments for cash flow hedge			Accumulated Other Comprehensive Income (Loss), Net of Taxes
Balance at December 31, 2014	$	(250.1	)	$	(369.9	)	$	—		$	6.2		$	(613.8	)
Other comprehensive income (loss) before reclassifications		3.3			(59.2	)		(19.3	)		10.4			(64.8	)
Less: amounts reclassified from accumulated other comprehensive income (loss)		4.1			—			—			(9.6	)		(5.5	)
Net current period other comprehensive income (loss)		7.4			(59.2	)		(19.3	)		0.8			(70.3	)
Balance at June 30, 2015⁽¹⁾⁽²⁾	$	(242.7	)	$	(429.1	)	$	(19.3	)	$	7.0		$	(684.1	)

Balance at December 31, 2015	$	(266.0	)	$	(564.0	)	$	1.7		$	8.3		$	(820.0	)
Other comprehensive income (loss) before reclassifications		0.2			30.5			(7.1	)		(20.6	)		3.0
Less: amounts reclassified from accumulated other comprehensive income (loss)		3.6			(46.0	)		—			15.9			(26.5	)
Net current period other comprehensive income (loss)		3.8			(15.5	)		(7.1	)		(4.7	)		(23.5	)
Balance at June 30, 2016⁽²⁾	$	(262.2	)	$	(579.5	)	$	(5.4	)	$	3.6		$	(843.5	)

⁽¹⁾

For the six months ended June 30, 2015, certain foreign currency translation adjustments were misclassified within Accumulated Other Comprehensive Loss (“AOCI”) on the Consolidated Balance Sheet. Refer Note 2 “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” under the heading “Reclassifications and Revisions” for further discussion of the revisions.

⁽²⁾	The ending balance in AOCI includes gains and losses on intra-entity foreign currency transactions. The intra-entity currency translation adjustment was $(23.3) million as of June 30, 2016 and $36.6 million as of June 30, 2015.

Detail of Amount Reclassified from Accumulated Other Comprehensive Income

The following table provides detail of amounts reclassified from accumulated other comprehensive income:

	Three Months Ended						Six Months Ended
	June 30,						June 30,
(In millions)	2016 ⁽¹⁾			2015 ⁽¹⁾			2016 ⁽¹⁾			2015 ⁽¹⁾			Location of Amount Reclassified from AOCI
Defined benefit pension plans and other post-employment benefits:
Prior service costs	$	0.2		$	0.2		$	0.6		$	0.4		⁽²⁾
Actuarial losses		(2.6	)		(2.8	)		(5.4	)		(5.8	)	⁽²⁾
Total pre-tax amount		(2.4	)		(2.6	)		(4.8	)		(5.4	)
Tax (expense) benefit		0.6			0.6			1.2			1.3
Net of tax		(1.8	)		(2.0	)		(3.6	)		(4.1	)
Reclassifications from cumulative translation adjustment:
Charges related to Venezuelan subsidiaries		46.0			—			46.0			—		⁽⁴⁾
Net gains (losses) on cash flow hedging derivatives:
Foreign currency forward contracts		(1.5	)		2.9			0.2			3.7		⁽³⁾Other income, net
Interest rate and currency swaps		(13.2	)		(5.1	)		(24.0	)		10.0		⁽³⁾Various
Treasury locks		—			—			0.1			0.1		⁽³⁾ Interest expense
Total pre-tax amount		(14.7	)		(2.2	)		(23.7	)		13.8
Tax (expense) benefit		4.3			1.0			7.8			(4.2	)
Net of tax		(10.4	)		(1.2	)		(15.9	)		9.6
Total reclassifications for the period	$	33.8		$	(3.2	)	$	26.5		$	5.5

⁽¹⁾	Amounts in parenthesis indicate changes to earnings (loss).

⁽²⁾	These accumulated other comprehensive components are included in the computation of net periodic benefit costs within cost of sales and selling, general, and administrative expenses on the Condensed Consolidated Statement of Operations.

⁽³⁾	These accumulated other comprehensive components are included in our derivative and hedging activities. See Note 11, “Derivatives and Hedging Activities” for additional details.

⁽⁴⁾	Due to the ongoing challenging economic situation in Venezuela, the Company approved a program in the second quarter of 2016 to cease operations in the country. Refer to the Note 1 of the Condensed Consolidated Statement of Operations for further details.