Accumulated Other Comprehensive Loss (Tables)

3 Months Ended

Mar. 31, 2024

Schedule of Components of Accumulated Other Comprehensive Loss

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, 2024:


($ in millions)	Derivatives		Equity affiliate investment AOCI		Defined benefit pension and other postretirement plans		Foreign currency translation		Total
Balance, December 31, 2023	$	—	$	2.3	$	(10.1)	$	(136.0)	$	(143.8)
Other comprehensive (loss) income before reclassifications	(3.1)		(0.1)		—		(46.3)		(49.5)
Amounts reclassified out from accumulated other comprehensive income (loss)	1.2		—		(0.2)		—		1.0
Other comprehensive (loss) income, net of tax	(1.9)		(0.1)		(0.2)		(46.3)		(48.5)
Balance, March 31, 2024	$	(1.9)	$	2.2	$	(10.3)	$	(182.3)	$	(192.3)

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, 2023:


($ in millions)	Derivatives		Equity affiliate investment AOCI		Defined benefit pension and other postretirement plans		Foreign currency translation		Total
Balance, December 31, 2022	$	0.2	$	1.6	$	(9.4)	$	(175.4)	$	(183.0)
Other comprehensive income (loss) before reclassifications	(0.9)		—		(0.2)		15.3		14.2
Amounts reclassified out from accumulated other comprehensive income (loss)	0.7		—		(0.3)		—		0.4
Other comprehensive income (loss), net of tax	(0.2)		—		(0.5)		15.3		14.6
Balance, March 31, 2023	$	—	$	1.6	$	(9.9)	$	(160.1)	$	(168.4)

Schedule of Reclassification out of Accumulated Other Comprehensive Loss

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	2024		2023
(Losses) gains on derivatives:
Foreign currency contracts	$	0.1	$	(0.7)		Net sales
Foreign currency contracts	(1.6)		—			Cost of goods and services sold

Forward treasury locks	(0.1)		(0.1)			Interest expense
Total before tax	(1.6)		(0.8)
Tax benefit	0.4		0.1
Net of tax	$	(1.2)	$	(0.7)
Amortization of defined benefit pension and other postretirement plans:

Actuarial gains	0.3		0.4			(a)

Total before tax	0.3		0.4
Tax expense	(0.1)		(0.1)
Net of tax	$	0.2	$	0.3
Total reclassifications for the period, net of tax	$	(1.0)	$	(0.4)

(a) These components are included in the computation of net periodic benefit cost.