|
Note 16: Accumulated Other Comprehensive Income
The following table details the changes in accumulated other comprehensive income (loss) for the years ended December 31, 2021 and December 31, 2020:
|
|
|
Changes in Accumulated Other Comprehensive
Income (Loss) by Component, net of tax |
|
|
|
|
Foreign
Currency
Translation |
|
|
Benefit
Plan
Liabilities |
|
|
Interest
Rate
Swap |
|
|
|
|
(In millions) |
|
|
Balance at January 1, 2020 |
|
$ |
(48.6 |
) |
|
$ |
(253.1 |
) |
|
$ |
(0.3 |
) |
|
Other comprehensive income (loss) before reclassifications |
|
|
1.6 |
|
|
|
(23.4 |
) |
|
|
(4.1 |
) |
|
Amounts reclassified from accumulated other
comprehensive income (loss) |
|
|
— |
|
|
|
54.7 |
|
|
|
1.3 |
|
|
Net current-period other comprehensive income (loss) |
|
|
1.6 |
|
|
|
31.3 |
|
|
|
(2.8 |
) |
|
Balance at December 31, 2020 |
|
$ |
(47.0 |
) |
|
$ |
(221.8 |
) |
|
$ |
(3.1 |
) |
|
Other comprehensive income (loss) before reclassifications |
|
|
(2.1 |
) |
|
|
28.0 |
|
|
|
— |
|
|
Amounts reclassified from accumulated other
comprehensive income (loss) |
|
|
— |
|
|
|
79.3 |
|
|
|
1.6 |
|
|
Net current-period other comprehensive income (loss) |
|
|
(2.1 |
) |
|
|
107.3 |
|
|
|
1.6 |
|
|
Balance at December 31, 2021 |
|
$ |
(49.1 |
) |
|
$ |
(114.5 |
) |
|
$ |
(1.5 |
) |
The following tables detail the reclassifications out of accumulated other comprehensive income (loss) for the years ended December 31, 2021 and December 31, 2020:
|
|
|
Reclassifications Out of Accumulated Other Comprehensive Income (Loss) |
|
Details about Accumulated Other
Comprehensive Income (Loss)
Components |
|
Amount reclassified from
Accumulated Other
Comprehensive Income (Loss) |
|
|
Affected line item in the Consolidated Statements of Operations |
|
|
|
For the Year Ended
December 31, 2021 |
|
|
|
|
|
|
(In millions) |
|
|
|
|
Amortization of defined benefit pension
and other post-retirement benefit plan items |
|
|
|
|
|
|
|
Actuarial loss |
|
$ |
8.1 |
|
|
Other income and (expense), net |
|
Pension settlement |
|
|
98.7 |
|
|
Other income and (expense), net |
|
Prior service credit |
|
|
(0.4 |
) |
|
Other income and (expense), net |
|
Total before tax |
|
|
106.4 |
|
|
|
|
Tax benefit |
|
|
(27.1 |
) |
|
|
|
Net of tax |
|
$ |
79.3 |
|
|
|
|
Interest rate swap |
|
|
|
|
|
|
|
Realized swap interest (subsequent to de-designation) |
|
|
2.1 |
|
|
Interest and other expense on debt |
|
Tax benefit |
|
|
(0.5 |
) |
|
|
|
Net of tax |
|
$ |
1.6 |
|
|
|
|
|
|
Reclassifications Out of Accumulated Other Comprehensive Income (Loss) |
|
Details about Accumulated Other
Comprehensive Income (Loss)
Components |
|
Amount reclassified from
Accumulated Other
Comprehensive Income (Loss) |
|
|
Affected line item in the Consolidated Statements of Operations |
|
|
|
For the Year Ended
December 31, 2020 |
|
|
|
|
|
|
(In millions) |
|
|
|
|
Amortization of defined benefit pension
and other post-retirement benefit plan items |
|
|
|
|
|
|
|
Actuarial loss |
|
$ |
9.6 |
|
|
Other income and (expense), net |
|
Pension settlement |
|
|
65.9 |
|
|
Other income and (expense), net |
|
Prior service credit |
|
|
(2.0 |
) |
|
Other income and (expense), net |
|
Total before tax |
|
|
73.5 |
|
|
|
|
Tax benefit |
|
|
(18.8 |
) |
|
|
|
Net of tax |
|
$ |
54.7 |
|
|
|
|
Cash flow hedge - interest rate swap |
|
|
|
|
|
|
|
Realized swap interest (prior to de-designation) |
|
$ |
1.3 |
|
|
Interest and other expense on debt |
|
Realized swap interest (subsequent to de-designation) |
|
|
0.3 |
|
|
Interest and other expense on debt |
|
Total before tax |
|
|
1.6 |
|
|
|
|
Tax benefit |
|
|
(0.3 |
) |
|
|
|
Net of tax |
|
$ |
1.3 |
|
|
|
|