|
Note 12 — Accumulated Other Comprehensive Loss
Changes in accumulated other comprehensive loss, net of tax for the three and six months ended June 30, 2024 and 2023, were as follows (in millions):
| |
|
Three months ended June 30, |
|
| |
|
2024 |
|
|
2023 |
|
| |
|
|
|
|
|
Retirement |
|
|
|
|
|
|
|
|
|
|
Retirement |
|
|
|
|
|
| |
|
Foreign |
|
|
benefit |
|
|
|
|
|
|
Foreign |
|
|
benefit |
|
|
|
|
|
| |
|
currency |
|
|
asset, net |
|
|
Total |
|
|
currency |
|
|
asset, net |
|
|
Total |
|
| Beginning balance |
|
$ |
(523.4 |
) |
|
$ |
(84.3 |
) |
|
$ |
(607.7 |
) |
|
$ |
(536.0 |
) |
|
$ |
(70.3 |
) |
|
$ |
(606.3 |
) |
| Other comprehensive income |
|
|
3.5 |
|
|
|
— |
|
|
|
3.5 |
|
|
|
38.4 |
|
|
|
— |
|
|
|
38.4 |
|
| Reclassifications to net income(1) |
|
|
5.5 |
|
|
|
0.4 |
|
|
|
5.9 |
|
|
|
2.1 |
|
|
|
0.1 |
|
|
|
2.2 |
|
| Total other comprehensive income |
|
|
9.0 |
|
|
|
0.4 |
|
|
|
9.4 |
|
|
|
40.5 |
|
|
|
0.1 |
|
|
|
40.6 |
|
| Less: other comprehensive loss (income) attributable to noncontrolling interests |
|
|
(0.4 |
) |
|
|
— |
|
|
|
(0.4 |
) |
|
|
1.6 |
|
|
|
— |
|
|
|
1.6 |
|
| Ending balance |
|
$ |
(514.8 |
) |
|
$ |
(83.9 |
) |
|
$ |
(598.7 |
) |
|
$ |
(493.9 |
) |
|
$ |
(70.2 |
) |
|
$ |
(564.1 |
) |
| |
|
Six months ended June 30, |
|
| |
|
2024 |
|
|
2023 |
|
| |
|
|
|
|
|
Retirement |
|
|
|
|
|
|
|
|
|
|
Retirement |
|
|
|
|
|
| |
|
Foreign |
|
|
benefit |
|
|
|
|
|
|
Foreign |
|
|
benefit |
|
|
|
|
|
| |
|
currency |
|
|
asset, net |
|
|
Total |
|
|
currency |
|
|
asset, net |
|
|
Total |
|
| Beginning balance |
|
$ |
(478.9 |
) |
|
$ |
(84.7 |
) |
|
$ |
(563.6 |
) |
|
$ |
(577.3 |
) |
|
$ |
(70.4 |
) |
|
$ |
(647.7 |
) |
| Other comprehensive income (loss) |
|
|
(20.1 |
) |
|
|
— |
|
|
|
(20.1 |
) |
|
|
82.9 |
|
|
|
— |
|
|
|
82.9 |
|
| Reclassifications to net income(1) |
|
|
(16.5 |
) |
|
|
0.8 |
|
|
|
(15.7 |
) |
|
|
2.1 |
|
|
|
0.2 |
|
|
|
2.3 |
|
| Total other comprehensive income (loss) |
|
|
(36.6 |
) |
|
|
0.8 |
|
|
|
(35.8 |
) |
|
|
85.0 |
|
|
|
0.2 |
|
|
|
85.2 |
|
| Less: other comprehensive loss (income) attributable to noncontrolling interests |
|
|
0.7 |
|
|
|
— |
|
|
|
0.7 |
|
|
|
(1.6 |
) |
|
|
— |
|
|
|
(1.6 |
) |
| Ending balance |
|
$ |
(514.8 |
) |
|
$ |
(83.9 |
) |
|
$ |
(598.7 |
) |
|
$ |
(493.9 |
) |
|
$ |
(70.2 |
) |
|
$ |
(564.1 |
) |
(1) Reclassifications to net income are primarily related to the release of accumulated foreign currency translation reserves during the period in which a JHG entity liquidated.
The components of other comprehensive income (loss), net of tax for the three and six months ended June 30, 2024 and 2023, were as follows (in millions):
| |
|
Three months ended June 30, |
|
| |
|
2024 |
|
|
2023 |
|
| |
|
Pre-tax |
|
|
Tax |
|
|
Net |
|
|
Pre-tax |
|
|
Tax |
|
|
Net |
|
| |
|
amount |
|
|
impact |
|
|
amount |
|
|
amount |
|
|
impact |
|
|
amount |
|
| Foreign currency translation adjustments |
|
$ |
3.6 |
|
|
$ |
(0.1 |
) |
|
$ |
3.5 |
|
|
$ |
38.8 |
|
|
$ |
(0.4 |
) |
|
$ |
38.4 |
|
| Reclassifications to net income(1) |
|
|
5.9 |
|
|
|
— |
|
|
|
5.9 |
|
|
|
2.2 |
|
|
|
— |
|
|
|
2.2 |
|
| Total other comprehensive income (loss) |
|
$ |
9.5 |
|
|
$ |
(0.1 |
) |
|
$ |
9.4 |
|
|
$ |
41.0 |
|
|
$ |
(0.4 |
) |
|
$ |
40.6 |
|
| |
|
Six months ended June 30, |
|
| |
|
2024 |
|
|
2023 |
|
| |
|
Pre-tax |
|
|
Tax |
|
|
Net |
|
|
Pre-tax |
|
|
Tax |
|
|
Net |
|
| |
|
amount |
|
|
impact |
|
|
amount |
|
|
amount |
|
|
impact |
|
|
amount |
|
| Foreign currency translation adjustments |
|
$ |
(22.8 |
) |
|
$ |
2.7 |
|
|
$ |
(20.1 |
) |
|
$ |
80.3 |
|
|
$ |
2.6 |
|
|
$ |
82.9 |
|
| Reclassifications to net income(1) |
|
|
(15.7 |
) |
|
|
— |
|
|
|
(15.7 |
) |
|
|
2.3 |
|
|
|
— |
|
|
|
2.3 |
|
| Total other comprehensive income (loss) |
|
$ |
(38.5 |
) |
|
$ |
2.7 |
|
|
$ |
(35.8 |
) |
|
$ |
82.6 |
|
|
$ |
2.6 |
|
|
$ |
85.2 |
|
(1) Reclassifications to net income are primarily related to the release of accumulated foreign currency translation reserves during the period in which a JHG entity liquidated.
|