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Changes in Equity and Accumulated Other Comprehensive Loss
 6 Months Ended
Jun. 30, 2020
Equity [Abstract]  
Changes in Equity and Accumulated Other Comprehensive Loss Changes in Equity and Accumulated Other Comprehensive Loss
A summary of changes in equity for the year-to-date interim periods ended June 30, 2020 and 2019 is provided below:
(in millions, except share data)
Common
Shares
Issued at
Par Value
 
Capital
Surplus
 
Retained
Earnings
 
Accumulated
Other
Comprehensive
Loss
 
Treasury
Stock
 
Total
Shareholders’
Equity
 
Noncontrolling
Interest
 
Total
Equity
BALANCE DECEMBER 31, 2018
72.4

 
$
303.5

 
$
2,072.1

 
$
(447.6
)
 
$
(476.2
)
 
$
1,524.2

 
$
2.9

 
$
1,527.1

Net income
—

 
—

 
82.4

 
—

 
—

 
82.4

 
0.1

 
82.5

Cash dividends ($0.39 per share)
—

 
—

 
(23.4
)
 
—

 
—

 
(23.4
)
 
—

 
(23.4
)
Impact from settlement of share-based awards, net of shares acquired
—

 
(9.8
)
 
—

 
—

 
9.6

 
(0.2
)
 
 
 
(0.2
)
Stock-based compensation expense
—

 
5.5

 
—

 
—

 
—

 
5.5

 
—

 
5.5

Deconsolidation of a joint venture
—

 
—

 
—

 
—

 
—

 
—

 
(0.5
)
 
(0.5
)
Changes in pension and postretirement plan assets and benefit obligation, net of tax
—

 
—

 
—

 
2.9

 
—

 
2.9

 
—

 
2.9

Currency translation adjustment
—

 
—

 
—

 
(0.8
)
 
—

 
(0.8
)
 
(0.1
)
 
(0.9
)
BALANCE MARCH 31, 2019
72.4

 
$
299.2

 
$
2,131.1

 
$
(445.5
)
 
$
(466.6
)
 
$
1,590.6

 
$
2.4

 
$
1,593.0

Net income
—

 
—

 
91.0

 
—

 
—

 
91.0

 
—

 
91.0

Cash dividends ($0.39 per share)
—

 
—

 
(23.3
)
 
—

 
—

 
(23.3
)
 
—

 
(23.3
)
Impact from settlement of share-based awards, net of shares acquired
—

 
(0.7
)
 
—

 
—

 
2.2

 
1.5

 
—

 
1.5

Stock-based compensation expense
—

 
5.6

 
—

 
—

 
—

 
5.6

 
—

 
5.6

Changes in pension and postretirement plan assets and benefit obligation, net of tax
—

 
—

 
—

 
1.9

 
—

 
1.9

 
—

 
1.9

Currency translation adjustment
—

 
—

 
—

 
4.7

 
—

 
4.7

 
—

 
4.7

BALANCE JUNE 30, 2019
72.4

 
$
304.1

 
$
2,198.8

 
$
(438.9
)
 
$
(464.4
)
 
$
1,672.0

 
$
2.4

 
$
1,674.4

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
BALANCE DECEMBER 31, 2019
72.4

 
$
315.6

 
$
2,112.2

 
$
(483.7
)
 
$
(542.8
)
 
$
1,473.7

 
$
2.6

 
$
1,476.3

Net income
—

 
—

 
62.8

 
—

 
—

 
62.8

 
—

 
62.8

Cash dividends ($0.43 per share)
—

 
—

 
(25.5
)
 
—

 
—

 
(25.5
)
 
—

 
(25.5
)
Reacquisition on open market of 1,221,233 shares
—

 
—

 
—

 
—

 
(70.0
)
 
(70.0
)
 
—

 
(70.0
)
Impact from settlement of share-based awards, net of shares acquired
—

 
(6.0
)
 
—

 
—

 
6.0

 
—

 
 
 
—

Stock-based compensation expense
—

 
5.8

 
—

 
—

 
—

 
5.8

 
—

 
5.8

Changes in pension and postretirement plan assets and benefit obligation, net of tax
—

 
—

 
—

 
3.6

 
—

 
3.6

 
—

 
3.6

Currency translation adjustment
—

 
—

 
—

 
(45.2
)
 
—

 
(45.2
)
 
(0.3
)
 
(45.5
)
BALANCE MARCH 31, 2020
72.4

 
$
315.4

 
$
2,149.5

 
$
(525.3
)
 
$
(606.8
)
 
$
1,405.2

 
$
2.3

 
$
1,407.5

Net income
—

 
—

 
14.8

 
—

 
—

 
14.8

 
—

 
$
14.8

Cash dividends ($0.43 per share)
—

 
—

 
(24.9
)
 
—

 
—

 
(24.9
)
 
—

 
(24.9
)
Impact from settlement of share-based awards, net of shares acquired
—

 
(1.4
)
 
—

 
—

 
1.9

 
0.5

 
 
 
0.5

Stock-based compensation expense
—

 
4.7

 
—

 
—

 
—

 
4.7

 
—

 
4.7

Changes in pension and postretirement plan assets and benefit obligation, net of tax
—

 
—

 
—

 
3.6

 
—

 
3.6

 
—

 
3.6

Currency translation adjustment
—

 
—

 
—

 
17.2

 
—

 
17.2

 
0.2

 
17.4

BALANCE JUNE 30, 2020
72.4

 
$
318.7

 
$
2,139.4

 
$
(504.5
)
 
$
(604.9
)
 
$
1,421.1

 
$
2.5

 
$
1,423.6

The table below provides the accumulated balances for each classification of accumulated other comprehensive loss, as reflected on our Condensed Consolidated Balance Sheets.
(in millions)
Defined Benefit Pension and Postretirement Items*
 
 Currency Translation Adjustment
 
 Total
Balance as of December 31, 2019
$
(366.0
)
 
$
(117.7
)
 
$
(483.7
)
 
Other comprehensive income (loss) before reclassifications
—

 
(27.9
)
 
(27.9
)
 
Amounts reclassified from accumulated other comprehensive loss
7.1

 
—

 
7.1

Net current-period other comprehensive income (loss)
7.1

 
(27.9
)
 
(20.8
)
Balance as of June 30, 2020
$
(358.9
)
 
$
(145.6
)
 
$
(504.5
)
 
* Net of tax benefit of $137.3 million and $135.4 million as of June 30, 2020 and December 31, 2019, respectively.

The table below illustrates the amounts reclassified out of each component of accumulated other comprehensive loss for the three- and six-month periods ended June 30, 2020 and 2019. Amortization of pension and postretirement components have been recorded within “Miscellaneous income, net” on our Condensed Consolidated Statements of Operations.
 
 
Three Months Ended June 30,
 
Six Months Ended June 30,
(in millions)
 
2020
 
2019
 
2020
 
2019
Amortization of pension items:
 
 
 
 
 
 
 
 
Prior-service costs
 
$
(0.1
)
 
$
(0.2
)
 
$
(0.1
)
 
$
(0.3
)
Net loss
 
4.9

 
3.3

 
9.7

 
6.7

Amortization of postretirement items:
 
 
 
 
 
 
 
 
Net gain
 
(0.3
)
 
(0.1
)
 
(0.5
)
 
(0.2
)
Total before tax
 
$
4.5

 
$
3.0

 
$
9.1

 
$
6.2

Tax impact
 
0.9

 
0.6

 
2.0

 
1.4

Total reclassifications for the period
 
$
3.6

 
$
2.4

 
$
7.1

 
$
4.8