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Comprehensive Income
12 Months Ended
Dec. 31, 2014
Equity [Abstract]  
Comprehensive Income

Note 16. Comprehensive Income

The components of other comprehensive (loss) income and income tax expense allocated to each component for the years ended December 31, 2014, 2013 and 2012 was as follows:

 

 

2014

 

 

2013

 

 

2012

 

 

Before

Tax

Amount

 

 

Income

Tax

Expense

 

 

Net of

Tax

Amount

 

 

Before

Tax

Amount

 

 

Income

Tax

Expense

 

 

Net of

Tax

Amount

 

 

Before

Tax

Amount

 

 

Income

Tax

Expense

 

 

Net of

Tax

Amount

 

Translation adjustments

$

(45.2

)

 

$

 

 

$

(45.2

)

 

$

(22.8

)

 

$

 

 

$

(22.8

)

 

$

11.4

 

 

$

 

 

$

11.4

 

Adjustment for net periodic

     pension and other

     postretirement benefits plan

     cost

 

(390.9

)

 

 

(150.0

)

 

 

(240.9

)

 

 

919.0

 

 

 

355.3

 

 

 

563.7

 

 

 

(285.1

)

 

 

(107.5

)

 

 

(177.6

)

Change in fair value of

     derivatives

 

0.2

 

 

 

0.1

 

 

 

0.1

 

 

 

0.6

 

 

 

0.2

 

 

 

0.4

 

 

 

0.8

 

 

 

0.3

 

 

 

0.5

 

Other comprehensive (loss) income

$

(435.9

)

 

$

(149.9

)

 

$

(286.0

)

 

$

896.8

 

 

$

355.5

 

 

$

541.3

 

 

$

(272.9

)

 

$

(107.2

)

 

$

(165.7

)

 

The following table summarizes changes in accumulated other comprehensive income (loss) by component for the years ended December 31, 2014, 2013 and 2012:

 

 

Changes in the Fair Value of Derivatives

 

 

Pension and Other Postretirement Benefits Plan Cost

 

 

Translation Adjustments

 

 

Total

 

Balance at January 1, 2012

$

(1.1

)

 

$

(907.5

)

 

$

45.3

 

 

$

(863.3

)

Other comprehensive income (loss) before

     reclassifications

 

 

 

 

(184.0

)

 

 

11.2

 

 

 

(172.8

)

Amounts 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

 

Amounts 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

)

Other comprehensive (loss) income before

     reclassifications

 

 

 

 

(303.4

)

 

 

(34.7

)

 

 

(338.1

)

Amounts reclassified from accumulated other

     comprehensive loss

 

0.1

 

 

 

62.5

 

 

 

 

 

 

62.6

 

Amounts reclassified from cumulative translation

     adjustment

 

 

 

 

 

 

 

(10.0

)

 

 

(10.0

)

Net change in accumulated other comprehensive

     loss

 

0.1

 

 

 

(240.9

)

 

 

(44.7

)

 

 

(285.5

)

Balance at December 31, 2014

$

(0.1

)

 

$

(762.3

)

 

$

(11.2

)

 

$

(773.6

)

 

Reclassifications from accumulated other comprehensive loss for the year ended December 31, 2014, 2013 and 2012 were as follows:

 

 

2014

 

 

2013

 

 

2012

 

 

Classification in the

Consolidated Statements of Operations

Amortization of pension and other postretirement

     benefits plan cost:

 

 

 

 

 

 

 

 

 

 

 

 

 

Net actuarial loss

$

31.9

 

 

$

50.5

 

 

$

32.0

 

 

(a)

Net prior service credit

 

(25.8

)

 

 

(19.7

)

 

 

(19.1

)

 

(a)

Curtailments and settlements

 

95.7

 

 

 

0.7

 

 

 

(2.6

)

 

(a)

Reclassifications before tax

 

101.8

 

 

 

31.5

 

 

 

10.3

 

 

 

Income tax expense

 

39.3

 

 

 

11.7

 

 

 

3.9

 

 

 

Reclassifications, net of tax

$

62.5

 

 

$

19.8

 

 

$

6.4

 

 

 

(a)

These accumulated other comprehensive (loss) income 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).