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Comprehensive Income (Tables)
6 Months Ended
Jun. 30, 2013
Schedule of Comprehensive Income (Loss)

Income tax expense allocated to each component of other comprehensive income (loss) for the three and six months ended June 30, 2013 and 2012 was as follows:

 

 

Three Months Ended
June 30, 2013

 

  

Six Months Ended
June 30, 2013

 

 

Before Tax
Amount

 

  

Income Tax
Expense

 

  

Net of Tax
Amount

 

  

Before Tax
Amount

 

  

Income Tax
Expense

 

  

Net of Tax
Amount

 

Translation adjustments             

$

(25.8

)

  

$

-

 

  

$

(25.8

)

  

$

(18.7

)

  

$

-

 

  

$

(18.7

)

Adjustment for net periodic pension and other postretirement benefits plan cost             

 

  7.6

 

  

 

  2.8

 

  

 

  4.8

 

  

 

  15.4

 

  

 

  11.5

 

  

 

  3.9

 

Change in fair value of derivatives             

 

  0.1

 

  

 

  0.1

 

  

 

-

 

  

 

  0.2

 

  

 

  0.1

 

  

 

  0.1

 

Other comprehensive income (loss)             

$

(18.1

)

  

$

  2.9

 

  

$

(21.0

)

  

$

(3.1

)

  

$

  11.6

 

  

$

(14.7

)

During the six months ended June 30, 2013, translation adjustments and income tax expense on pension and other postretirement benefits plan cost were adjusted to reflect previously recorded changes at their historical exchange rates.

 

 

Three Months Ended
June 30, 2012

 

 

 

Six Months Ended
June 30, 2012

 

 

 

Before Tax
Amount

 

 

Income Tax
Expense

 

  

Net of Tax
Amount

 

 

Before Tax
Amount

 

 

Income Tax
Expense

 

  

Net of Tax
Amount

 

Translation adjustments             

$

(61.6

) 

 

$

 

  

$

(61.6

) 

 

$

(19.8

) 

 

$

 

  

$

(19.8

) 

Adjustment for net periodic pension and postretirement benefit cost             

 

  2.0

 

 

 

  1.2

 

  

 

  0.8

 

 

 

  3.6

 

 

 

  2.1

 

  

 

  1.5

 

Change in fair value of derivatives             

 

  0.1

 

 

 

 

  

 

  0.1

 

 

 

  0.6

 

 

 

  0.2

 

  

 

  0.4

 

Other comprehensive income (loss)             

$

(59.5

) 

 

$

  1.2

 

  

$

(60.7

) 

 

$

(15.6

) 

 

$

  2.3

 

  

$

(17.9

) 

 

Summary of Changes in Accumulated Other Comprehensive Income (Loss)

Changes in accumulated other comprehensive loss by component for the six months ended June 30, 2013 and 2012 were as follows:

 

 

Changes in the
Fair Value of
Derivatives

 

 

Pension and
Other
Postretirement
Benefits Plan
Cost

 

 

Translation
Adjustments

 

  

Total

 

Balance at December 31, 2012             

$

(0.6

)

 

$

(1,085.1

)

 

$

  56.5

 

  

$

(1,029.2

)

Other comprehensive loss before reclassifications             

 

-

 

 

 

(5.8

)

 

 

(18.8

)

  

 

(24.6

)

Amount reclassified from accumulated other comprehensive loss             

 

  0.1

 

 

 

  9.7

 

 

 

-

 

  

 

  9.8

 

Net change in accumulated other comprehensive loss             

 

  0.1

 

 

 

  3.9

 

 

 

(18.8

)

  

 

(14.8

)

Balance at June 30, 2013             

$

(0.5

)

 

$

(1,081.2

)

 

$

  37.7

 

  

$

(1,044.0

)

 

 

Changes in the
Fair Value of
Derivatives

 

 

Pension and
Other
Postretirement
Benefits Plan
Cost

 

 

Translation
Adjustments

 

  

Total

 

Balance at December 31, 2011             

$

(1.1

)

 

$

(907.5

)

 

$

  45.3

 

  

$

(863.3

)

Other comprehensive loss before reclassifications             

 

 

 

 

(0.8

)

 

 

(19.8

)

  

 

(20.6

)

Amount reclassified from accumulated other comprehensive loss             

 

  0.4

 

 

 

  2.3

 

 

 

 

  

 

  2.7

 

Net change in accumulated other comprehensive loss             

 

  0.4

 

 

 

  1.5

 

 

 

(19.8

)

  

 

(17.9

)

Balance at June 30, 2012             

$

(0.7

)

 

$

(906.0

)

 

$

  25.5

 

  

$

(881.2

)

 

Pension and Other Postretirement Benefit Plan Cost
 
Reclassifications out of Accumulated Other Comprehensive Loss

Reclassifications from accumulated other comprehensive loss for the three and six months ended June 30, 2013 and 2012 were as follows:

 

 

Three Months Ended

June 30,

 

 

Six Months Ended

June 30,

  

Classification in the Condensed

 Consolidated
Statements of Operations

 

2013

 

  

2012

 

 

2013

 

  

2012

  

Amortization of pension and other postretirement benefits plan cost:

 

 

 

  

 

 

 

 

 

 

 

  

 

 

  

 

Net actuarial loss             

$

  12.6

  

  

$

  6.8

  

 

$

  25.2

 

  

$

  13.9

  

(a)

Net prior service credit             

 

(5.0

) 

  

 

(4.9

) 

 

 

(9.9

)

  

 

(9.9

)

(a)

Reclassifications before tax             

 

  7.6

  

  

 

  1.9

  

 

 

  15.3

 

  

 

  4.0

  

 

Income tax expense             

 

  2.7

  

  

 

  1.1

  

 

 

  5.6

 

  

 

  1.7

  

 

Reclassifications, net of tax             

$

  4.9

  

  

$

  0.8

  

 

$

  9.7

 

  

$

  2.3

  

 

 

(a)              These accumulated other comprehensive income (loss) components are included in the calculation of net periodic pension and other postretirement benefits plan income recognized in cost of sales and selling, general and administrative expenses in the Condensed Consolidated Statements of Operations (see Note 7).