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Comprehensive Income
12 Months Ended
Dec. 31, 2015
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, 2015, 2014 and 2013 was as follows:

 

 

2015

 

 

2014

 

 

2013

 

 

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

$

(55.7

)

 

$

 

 

$

(55.7

)

 

$

(45.2

)

 

$

 

 

$

(45.2

)

 

$

(22.8

)

 

$

 

 

$

(22.8

)

Adjustment for net periodic pension and other postretirement benefits plan cost

 

60.2

 

 

 

25.4

 

 

 

34.8

 

 

 

(390.9

)

 

 

(150.0

)

 

 

(240.9

)

 

 

919.0

 

 

 

355.3

 

 

 

563.7

 

Change in fair value of derivatives

 

0.1

 

 

 

 

 

 

0.1

 

 

 

0.2

 

 

 

0.1

 

 

 

0.1

 

 

 

0.6

 

 

 

0.2

 

 

 

0.4

 

Other comprehensive (loss) income

$

4.6

 

 

$

25.4

 

 

$

(20.8

)

 

$

(435.9

)

 

$

(149.9

)

 

$

(286.0

)

 

$

896.8

 

 

$

355.5

 

 

$

541.3

 

 

The following table summarizes changes in accumulated other comprehensive loss by component for the years ended December 31, 2015, 2014 and 2013:

 

 

Changes in the Fair Value of Derivatives

 

 

Pension and Other Postretirement Benefits Plan Cost

 

 

Translation Adjustments

 

 

Total

 

Balance at January 1, 2013

$

(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 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

)

Other comprehensive income (loss) before reclassifications

 

 

 

 

22.1

 

 

 

(67.6

)

 

 

(45.5

)

Amounts reclassified from accumulated other comprehensive loss

 

0.1

 

 

 

8.9

 

 

 

 

 

 

9.0

 

Amounts reclassified due to disposition of an operating entity

 

 

 

 

3.8

 

 

 

13.1

 

 

 

16.9

 

Net change in accumulated other comprehensive loss

 

0.1

 

 

 

34.8

 

 

 

(54.5

)

 

 

(19.6

)

Balance at December 31, 2015

$

 

 

$

(727.5

)

 

$

(65.7

)

 

$

(793.2

)

 

Reclassifications from accumulated other comprehensive loss for the year ended December 31, 2015, 2014 and 2013 were as follows:

 

 

2015

 

 

2014

 

 

2013

 

 

Classification in the

Consolidated Statements of Operations

Amortization of pension and other postretirement benefits plan cost:

 

 

 

 

 

 

 

 

 

 

 

 

 

Net actuarial loss

$

40.5

 

 

$

31.9

 

 

$

50.5

 

 

(a)

Net prior service credit

 

(26.9

)

 

 

(25.8

)

 

 

(19.7

)

 

(a)

Curtailments and settlements

 

0.2

 

 

 

95.7

 

 

 

0.7

 

 

(a)

Reclassifications before tax

 

13.8

 

 

 

101.8

 

 

 

31.5

 

 

 

Income tax expense

 

4.9

 

 

 

39.3

 

 

 

11.7

 

 

 

Reclassifications, net of tax

$

8.9

 

 

$

62.5

 

 

$

19.8

 

 

 

 

(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).