Reclassifications from Accumulated Other Comprehensive (Loss) Income The changes in AOCI by component, net of tax, for the three months ended March 31, 2016 and 2015 were as follows: | | | | | | | | | | | | | | | | | | | | | | Three Months Ended March 31, 2016 ($ in millions) (a)
| | Cash flow hedging items | | Pension and other postretirement benefit plan items | | Unrealized losses on available-for- sale securities | | Foreign currency items | | Total | Balance at December 31, 2015 | | $ | (39.7 | ) | | $ | (249.4 | ) | | $ | (0.3 | ) | | $ | (48.2 | ) | | $ | (337.6 | ) | Other comprehensive (loss) income before reclassifications | | (1.7 | ) | | — |
| | — |
| | 7.7 |
| | 6.0 |
| Amounts reclassified from AOCI (b) | | 7.4 |
| | 3.8 |
| | — |
| | — |
| | 11.2 |
| Net current-period other comprehensive income | | 5.7 |
| | 3.8 |
| | — |
| | 7.7 |
| | 17.2 |
| Balance at March 31, 2016 | | $ | (34.0 | ) | | $ | (245.6 | ) | | $ | (0.3 | ) | | $ | (40.5 | ) | | $ | (320.4 | ) |
| | | | | | | | | | | | | | | | | | | | | | Three Months Ended March 31, 2015 ($ in millions) (a)
| | Cash flow hedging items | | Pension and other postretirement benefit plan items | | Unrealized losses on available-for- sale securities | | Foreign currency items | | Total | Balance at December 31, 2014 | | $ | (17.9 | ) | | $ | (230.8 | ) | | $ | (0.4 | ) | | $ | (33.7 | ) | | $ | (282.8 | ) | Other comprehensive (loss) before reclassifications | | (16.9 | ) | | — |
| | — |
| | (9.9 | ) | | (26.8 | ) | Amounts reclassified from AOCI (b) | | 3.7 |
| | 3.0 |
| | — |
| | — |
| | 6.7 |
| Net current-period other comprehensive (loss) income | | (13.2 | ) | | 3.0 |
| | — |
| | (9.9 | ) | | (20.1 | ) | Balance at March 31, 2015 | | $ | (31.1 | ) | | $ | (227.8 | ) | | $ | (0.4 | ) | | $ | (43.6 | ) | | $ | (302.9 | ) |
| | (a) | All amounts are net of tax. Amounts in parentheses indicate debits. |
| | (b) | See separate table below for further details. |
The changes in AOCI by component, net of tax, for the nine months ended March 31, 2016 and 2015 were as follows:
| | | | | | | | | | | | | | | | | | | | | | Nine Months Ended March 31, 2016 ($ in millions) (a) | | Cash flow hedging items | | Pension and other postretirement benefit plan items | | Unrealized losses on available-for- sale securities | | Foreign currency items | | Total | Balance at June 30, 2015 | | $ | (28.5 | ) | | $ | (256.8 | ) | | $ | (0.3 | ) | | $ | (42.6 | ) | | $ | (328.2 | ) | Other comprehensive (loss) income before reclassifications | | (25.5 | ) | | — |
| | — |
| | 2.1 |
| | (23.4 | ) | Amounts reclassified from AOCI (b) | | 20.0 |
| | 11.2 |
| | — |
| | — |
| | 31.2 |
| Net current-period other comprehensive (loss) income | | (5.5 | ) | | 11.2 |
| | — |
| | 2.1 |
| | 7.8 |
| Balance at March 31, 2016 | | $ | (34.0 | ) | | $ | (245.6 | ) | | $ | (0.3 | ) | | $ | (40.5 | ) | | $ | (320.4 | ) |
| | | | | | | | | | | | | | | | | | | | | | Nine Months Ended March 31, 2015 ($ in millions) (a) | | Cash flow hedging items | | Pension and other postretirement benefit plan items | | Unrealized losses on available-for- sale securities | | Foreign currency items | | Total | Balance at June 30, 2014 | | $ | 7.6 |
| | $ | (236.7 | ) | | $ | (0.4 | ) | | $ | (15.7 | ) | | $ | (245.2 | ) | Other comprehensive (loss) before reclassifications | | (42.6 | ) | | — |
| | — |
| | (27.9 | ) | | (70.5 | ) | Amounts reclassified from AOCI (b) | | 3.9 |
| | 8.9 |
| | — |
| | — |
| | 12.8 |
| Net current-period other comprehensive (loss) income | | (38.7 | ) | | 8.9 |
| | — |
| | (27.9 | ) | | (57.7 | ) | Balance at March 31, 2015 | | $ | (31.1 | ) | | $ | (227.8 | ) | | $ | (0.4 | ) | | $ | (43.6 | ) | | $ | (302.9 | ) |
| | (a) | All amounts are net of tax. Amounts in parentheses indicate debits. |
| | (b) | See separate table below for further details. |
The following is a summary of amounts reclassified from AOCI for the three and nine months ended March 31, 2016 and 2015: | | | | | | | | | | | | | | | | | | | | ($ in millions) (a) | | Location of (loss) gain | | Amount Reclassified from AOCI Three Months Ended March 31, | | Amount Reclassified from AOCI Nine Months Ended March 31, | Details about AOCI Components | | | 2016 | | 2015 | | 2016 | | 2015 | Cash flow hedging items: | | | | |
| | |
| | |
| | |
| Commodity contracts | | Cost of sales | | $ | (12.0 | ) | | $ | (6.9 | ) | | $ | (32.6 | ) | | $ | (8.4 | ) | Foreign exchange contracts | | Net sales | | 0.1 |
| | 0.9 |
| | 0.2 |
| | 1.9 |
| Forward interest rate swaps | | Interest expense | | 0.1 |
| | 0.1 |
| | 0.3 |
| | 0.3 |
| | | Total before tax | | (11.8 | ) | | (5.9 | ) | | (32.1 | ) | | (6.2 | ) | | | Tax benefit | | 4.4 |
| | 2.2 |
| | 12.1 |
| | 2.3 |
| | | Net of tax | | $ | (7.4 | ) | | $ | (3.7 | ) | | $ | (20.0 | ) | | $ | (3.9 | ) |
| | | | | | | | | | | | | | | | | | | | ($ in millions) (a) | | Location of (loss) gain | | Amount Reclassified from AOCI Three Months Ended March 31, | | Amount Reclassified from AOCI Nine Months Ended March 31, | Details about AOCI Components | | | 2016 | | 2015 | | 2016 | | 2015 | Amortization of pension and other postretirement benefit plan items: | | | | |
| | |
| | | | | Net actuarial loss | | (b) | | $ | (7.5 | ) | | $ | (4.7 | ) | | $ | (22.5 | ) | | $ | (14.1 | ) | Prior service cost (credits) | | (b) | | 1.5 |
| | (0.1 | ) | | 4.5 |
| | (0.3 | ) | | | Total before tax | | (6.0 | ) | | (4.8 | ) | | (18.0 | ) | | (14.4 | ) | | | Tax benefit | | 2.2 |
| | 1.8 |
| | 6.8 |
| | 5.5 |
| | | Net of tax | | $ | (3.8 | ) | | $ | (3.0 | ) | | $ | (11.2 | ) | | $ | (8.9 | ) |
| | (a) | Amounts in parentheses indicate debits to income/loss. |
| | (b) | These AOCI components are included in the computation of net periodic benefit cost (see Note 8. Pension and Other Postretirement Benefits for additional details). |
|