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Accumulated other comprehensive income or loss (Tables)
3 Months Ended
Mar. 31, 2024
Equity [Abstract]  
Schedule of changes in components of AOCI
The following table presents changes in the components of AOCI:
(in millions)
Foreign currency translationDerivative instrumentsDefined benefit plansTotal
Balance at December 31, 2023
$(82.8)$12.6 $1.2 $(69.0)
Unrealized (loss) gain
(22.0)9.8 (0.2)(12.4)
Reclassification of gain into earnings
— (8.5)— (8.5)
Change due to income taxes(6.9)(0.3)0.1 (7.1)
Balance at March 31, 2024
$(111.7)$13.6 $1.1 $(97.0)
Balance at December 31, 2022
$(131.3)$19.9 $11.1 $(100.3)
Unrealized gain (loss)
16.9 (0.1)(4.9)11.9 
Reclassification of gain into earnings
— (6.5)— (6.5)
Change due to income taxes2.7 1.6 0.9 5.2 
Balance at March 31, 2023
$(111.7)$14.9 $7.1 $(89.7)
The reclassifications effects shown above were immaterial to the financial statements and were made to either cost of sales, SG&A expense or interest expense depending upon the nature of the underlying transaction. The income tax effects in the three months ended March 31, 2024 on foreign currency translation were due to our net investment hedge and cross-currency swap discussed in note 14.