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Comprehensive Income (Tables)
 12 Months Ended
Dec. 31, 2013
Schedule of Comprehensive Income (Loss)

Income tax expense allocated to each component of other comprehensive income (loss) for the years ended December 31, 2013, 2012 and 2011 was as follows:

 

 

 

2013

 

 

2012

 

 

2011

 

 

  

Before
Tax
Amount

 

  

Income
Tax
Expense

 

  

Net of
Tax
Amount

 

  

Before
Tax
Amount

 

 

Income
Tax
Expense
(Benefit)

 

 

Net of
Tax
Amount

 

 

Before
Tax
Amount

 

 

Income
Tax
Expense
(Benefit)

 

 

Net of
Tax
Amount

 

Translation adjustments

 

$

(22.8

)

 

$

-  

 

 

$

(22.8

) 

 

$

11.4

  

 

$

—

  

 

$

11.4

  

 

$

(70.1

) 

 

$

—

  

 

$

(70.1

)

Adjustment for net periodic pension and other postretirement benefits plan cost

  

 

919.0

  

  

 

355.3

  

  

 

563.7

  

  

 

(285.1

) 

 

 

(107.5

) 

 

 

(177.6

) 

 

 

(485.9

) 

 

 

(182.8

) 

 

 

(303.1

)

Change in fair value of derivatives

 

 

0.6

 

 

 

0.2

 

 

 

0.4

  

 

 

0.8

  

 

 

0.3

  

 

 

0.5

  

 

 

1.1

  

 

 

0.4

  

 

 

0.7

  

Other comprehensive income (loss)

 

$

896.8

 

 

$

355.5

 

 

$

541.3

 

 

$

(272.9

) 

 

$

(107.2

) 

 

$

(165.7

) 

 

$

(554.9

) 

 

$

(182.4

) 

 

$

(372.5

)

 
Summary of Changes in Accumulated Other Comprehensive Income (Loss)

The following table summarizes changes in accumulated other comprehensive income (loss) by component for the years ended December 31, 2013, 2012 and 2011:

 

 

 

Changes in
the Fair
Value of
Derivatives

 

 

Pension and
Other
Postretirement
Benefits Plan
Cost

 

 

Translation
Adjustments

 

 

Total

 

Balance at January 1, 2011

 

$

(1.8

) 

 

$

(604.4

) 

 

$

115.8

  

 

$

(490.4

) 

Other comprehensive loss before reclassifications

 

 

—

 

 

 

(300.0

)

 

 

(70.5

)

 

 

(370.5

)  

Amount reclassified from accumulated other comprehensive loss

 

 

0.7

 

 

 

(3.1

)

 

 

—

 

 

 

(2.4

)  

Net change in accumulated other comprehensive loss

 

 

0.7

  

 

 

(303.1

) 

 

 

(70.5

) 

 

 

(372.9

) 

Balance at December 31, 2011

 

$

(1.1

) 

 

$

(907.5

) 

 

$

45.3

  

 

$

(863.3

) 

Other comprehensive income (loss) before reclassifications

 

 

—

 

 

 

(184.0

)

 

 

11.2

 

 

 

(172.8

)  

Amount reclassified from accumulated other comprehensive loss

 

 

0.5

 

 

 

6.4

 

 

 

—

 

 

 

6.9

  

Net change in accumulated other comprehensive loss

 

 

0.5

  

 

 

(177.6

) 

 

 

11.2

  

 

 

(165.9

)

Balance at December 31, 2012

 

$

(0.6

) 

 

$

(1,085.1

) 

 

$

56.5

  

 

$

(1,029.2

) 

Other comprehensive income (loss) before reclassifications

 

 

—

  

 

 

543.9

  

 

 

(23.0

)  

 

 

520.9

  

Amount reclassified from accumulated other comprehensive loss

 

 

0.4

  

 

 

19.8

  

 

 

—

  

 

 

20.2

  

Net change in accumulated other comprehensive loss

 

 

0.4

  

 

 

563.7

  

 

 

(23.0

)  

 

 

541.1

  

Balance at December 31, 2013

 

$

(0.2

)  

 

$

(521.4

)  

 

$

33.5

  

 

$

(488.1

)  

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

Reclassifications from accumulated other comprehensive loss for the year ended December 31, 2013, 2012 and 2011 were as follows:

 

 

  

2013

 

  

2012

 

  

2011

 

  

Classification in the
Consolidated Statements of Operations

Amortization of pension and other postretirement benefits plan cost:

  

 

 

 

  

 

 

 

  

 

 

 

  

 

Net actuarial loss

  

$

50.5

  

  

$

32.0

  

  

$

50.2

  

  

(a)

Net prior service credit

  

 

(19.7

) 

  

 

(19.1

) 

  

 

(16.9

)

  

(a)

Curtailments and settlements

  

 

0.7

  

  

 

(2.6

) 

  

 

(38.7

)

  

(a)

Reclassifications before tax

  

 

31.5

  

  

 

10.3

  

  

 

(5.4

)

  

 

Income tax expense

  

 

11.7

  

  

 

3.9

  

  

 

(2.3

)

  

 

Reclassifications, net of tax

  

$

19.8

  

  

$

6.4

  

  

$

(3.1

) 

  

 

(a)

These accumulated other comprehensive income (loss) components are included in the calculation of net periodic pension and other postretirement benefits plan (income) expense recognized in cost of sales and selling, general and administrative expenses in the Consolidated Statements of Operations (see Note 11).