XML 76 R44.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Reclassifications out of Accumulated Other Comprehensive Income (Tables)
 12 Months Ended
Dec. 31, 2019
Reclassifications out of Accumulated Other Comprehensive Income [Abstract]  
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block]
Reclassification adjustments and other activity impacting accumulated other comprehensive income (loss) (AOCI) during the year ended December 31, 2019, December 31, 2018 and December 31, 2017 are as follows (in millions):
 
Defined Benefit Plans
 
Foreign Currency Translation Adjustments
 
Unrecognized Loss on Cash Flow Hedges
 
Total
Balance at January 1, 2017
$
(243.5
)
 
$
(122.4
)
 
$
(23.7
)
 
$
(389.6
)
 
 
 
 
 
 
 
 
Other comprehensive income (loss) before reclassifications
(20.1
)
 
88.3

 
12.0

 
80.2

Income tax effect of other comprehensive income (loss) before reclassifications
5.5

 
—

 
(0.2
)
 
5.3

Amounts reclassified from accumulated other comprehensive loss into net income
8.2

(b)
—

 
5.3

(c)
13.5

Income taxes reclassified into net income
(2.1
)
 
—

 
—

 
(2.1
)
 
 
 
 
 
 
 
 
Net current period other comprehensive income (loss)
(8.5
)
 
88.3

 
17.1

 
96.9

 
 
 
 
 
 
 
 
Balance at December 31, 2017
$
(252.0
)
 
$
(34.1
)
 
$
(6.6
)
 
$
(292.7
)
 
 
 
 
 
 
 
 
Other comprehensive income (loss) before reclassifications
41.9

 
(62.7
)
 
5.4

 
(15.4
)
Income tax effect of other comprehensive income (loss) before reclassifications
(8.4
)
 
—

 
(0.2
)
 
(8.6
)
Amounts reclassified from accumulated other comprehensive loss into net loss
6.0

(b)
0.2

 
(0.4
)
(c)
5.8

Income taxes reclassified into net loss
(1.4
)
 
—

 
0.7

 
(0.7
)
 
 
 
 
 
 
 
 
Net current period other comprehensive income (loss)
38.1

 
(62.5
)
 
5.5

 
(18.9
)
 
 
 
 
 
 
 
 
Balance at December 31, 2018
$
(213.9
)
 
$
(96.6
)
 
$
(1.1
)
 
$
(311.6
)
 
 
 
 
 
 
 
 
Other comprehensive loss before reclassifications
(61.5
)
(a)
(4.6
)
 
(19.0
)
 
(85.1
)
Income tax effect of other comprehensive loss before reclassifications
5.6

 
—

 
6.3

 
11.9

Amounts reclassified from accumulated other comprehensive loss into net loss
12.5

(b)
—

 
(1.7
)
(c)
10.8

Income taxes reclassified into net loss
(2.6
)
 
—

 
(0.2
)
 
(2.8
)
 
 
 
 
 
 
 
 
Net current period other comprehensive loss
(46.0
)
 
(4.6
)
 
(14.6
)
 
(65.2
)
 
 
 
 
 
 
 
 
Balance at December 31, 2019
$
(259.9
)
 
$
(101.2
)
 
$
(15.7
)
 
$
(376.8
)
 
 
 
 
 
 
 
 
(a) ASU 2018-02 became effective on January 1, 2019, and we elected to reclassify the stranded tax effects caused by the 2017 Tax Cuts and Jobs Act, resulting in a decrease in Accumulated other comprehensive income (loss) of $27.7 million at January 1, 2019. See Note 1 - Organization and Summary of Significant Accounting Policies for further detail.
 
 
 
 
 
 
 
 
(b) Subsequent to the adoption of ASU 2017-07 effective January 1, 2018, these amounts were reclassified from AOCI to Other, net for the years ended December 31, 2019 and 2018. The amount reclassified for 2019 includes a credit to AOCI of $7.4 million related to the net effect of the AAM Pension Payout Offer and the Casting Sale. See Note 2 - Sale of Business and Note 9 - Employee Benefit Plans for more detail. For the year ended December 31, 2017, $8.7 million was reclassified from AOCI to Cost of goods sold (COGS) and $(0.5) million was reclassified from AOCI to Selling, general and administrative expenses.
 
 
 
 
 
 
 
 
(c) The amounts reclassified from AOCI included $(2.4) million in COGS, $2.0 million in interest expense and $(1.3) million in other income for the year ended December 31, 2019, $2.8 million in COGS and $(3.2) million in interest expense for the year ended December 31, 2018 and $5.3 million in COGS for the year ended December 31, 2017.