Accumulated Other Comprehensive Loss

3 Months Ended

Mar. 31, 2022

The following table presents the changes in the components of accumulated other comprehensive income ("AOCI") (loss), net of tax, for the three months ended March 31, 2022:


($ in millions)	(Losses) gains on derivatives		Change in equity affiliate investment AOCI		Defined benefit pension and other postretirement plans		Foreign currency translation		Total
Balance, December 31, 2021	$	(1.2)	$	1.5	$	(31.8)	$	(128.1)	$	(159.6)
Other comprehensive (loss) income before reclassifications	(1.9)		—		0.4		(22.1)		(23.6)
Amounts reclassified out from accumulated other comprehensive (loss) income	0.3		—		0.5		—		0.8
Other comprehensive (loss) income, net of tax	(1.6)		—		0.9		(22.1)		(22.8)
Balance, March 31, 2022	$	(2.8)	$	1.5	$	(30.9)	$	(150.2)	$	(182.4)

The following table presents the changes in the components of accumulated other comprehensive income ("AOCI") (loss), net of tax, for the three months ended March 31, 2021:


($ in millions)	(Losses) gains on derivatives		Change in equity affiliate investment AOCI		Defined benefit pension and other postretirement plans		Foreign currency translation		Total
Balance, December 31, 2020	$	(1.9)	$	0.6	$	(40.5)	$	(68.8)	$	(110.6)
Other comprehensive (loss) income before reclassifications	(2.6)		—		0.1		(28.4)		(30.9)
Amounts reclassified out from accumulated other comprehensive (loss) income	0.8		—		0.5		—		1.3
Other comprehensive (loss) income, net of tax	(1.8)		—		0.6		(28.4)		(29.6)
Balance, March 31, 2021	$	(3.7)	$	0.6	$	(39.9)	$	(97.2)	$	(140.2)

A summary of the reclassifications out of accumulated other comprehensive loss is presented in the following table:


($ in millions)	Three Months Ended March 31,				Location on Statement of Income
Detail of components	2022		2021
(Losses) gains on derivatives:
Foreign currency contracts	$	0.3	$	(0.3)		Net sales
Foreign currency contracts	(0.5)		—			Cost of goods and services sold
Foreign currency contracts	—		(0.6)			Other (income) expense
Forward treasury locks	(0.1)		(0.1)			Interest expense
Total before tax	(0.3)		(1.0)
Tax benefit	—		0.2
Net of tax	$	(0.3)	$	(0.8)
Amortization of defined benefit pension and other postretirement plans:
Prior service credit	$	—	$	0.1		(a)
Actuarial losses	—		(0.1)			(a)
Settlements	(0.6)		(0.6)			(a)
Total before tax	(0.6)		(0.6)
Tax benefit	0.1		0.1
Net of tax	$	(0.5)	$	(0.5)
Total reclassifications for the period, net of tax	$	(0.8)	$	(1.3)

(a) These components are included in the computation of net periodic benefit cost. Please refer to Note 14, Benefit Plans, for additional details.