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Other Comprehensive (Loss) Income
6 Months Ended
Jun. 30, 2018
Equity [Abstract]  
Other Comprehensive (Loss) Income

11. Other Comprehensive (Loss) Income

The components of other comprehensive (loss) income and income tax expense (benefit) allocated to each component for the three and six months ended June 30, 2018 and 2017 were as follows:

 

 

Three Months Ended

 

 

Six Months Ended

 

 

June 30, 2018

 

 

June 30, 2018

 

 

Before

 

 

 

 

 

 

Net of

 

 

Before

 

 

 

 

 

 

Net of

 

 

Tax

 

 

Income

 

 

Tax

 

 

Tax

 

 

Income

 

 

Tax

 

 

Amount

 

 

Tax

 

 

Amount

 

 

Amount

 

 

Tax

 

 

Amount

 

Translation adjustments

$

(41.6

)

 

$

 

 

$

(41.6

)

 

$

(22.7

)

 

$

 

 

$

(22.7

)

Adjustment for net periodic pension and other postretirement benefits plan cost

 

2.2

 

 

 

0.5

 

 

 

1.7

 

 

 

5.8

 

 

 

1.5

 

 

 

4.3

 

Other comprehensive loss

$

(39.4

)

 

$

0.5

 

 

$

(39.9

)

 

$

(16.9

)

 

$

1.5

 

 

$

(18.4

)

 

 

Three Months Ended

 

 

Six Months Ended

 

 

June 30, 2017

 

 

June 30, 2017

 

 

Before

 

 

 

 

 

 

Net of

 

 

Before

 

 

 

 

 

 

Net of

 

 

Tax

 

 

Income

 

 

Tax

 

 

Tax

 

 

Income

 

 

Tax

 

 

Amount

 

 

Tax

 

 

Amount

 

 

Amount

 

 

Tax

 

 

Amount

 

Translation adjustments

$

20.1

 

 

$

 

 

$

20.1

 

 

$

29.1

 

 

$

 

 

$

29.1

 

Adjustment for net periodic pension and other postretirement benefits plan cost

 

1.0

 

 

 

0.3

 

 

 

0.7

 

 

 

2.0

 

 

 

0.6

 

 

 

1.4

 

Adjustments for available-for-sale securities

 

(85.2

)

 

 

 

 

 

(85.2

)

 

 

(120.5

)

 

 

(3.0

)

 

 

(117.5

)

Other comprehensive loss

$

(64.1

)

 

$

0.3

 

 

$

(64.4

)

 

$

(89.4

)

 

$

(2.4

)

 

$

(87.0

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accumulated other comprehensive loss by component as of December 31, 2017 and June 30, 2018, and changes during the six months ended June 30, 2018, were as follows:

 

 

 

 

Pension and Other Postretirement

Benefits Plan Cost

 

 

Translation Adjustments

 

 

Total

 

Balance at December 31, 2017

 

 

$

(144.6

)

 

$

40.9

 

 

$

(103.7

)

Other comprehensive income (loss) before reclassifications

 

 

 

1.2

 

 

 

(22.6

)

 

 

(21.4

)

Amounts reclassified from accumulated other comprehensive loss

 

 

 

3.1

 

 

 

 

 

 

3.1

 

Net change in accumulated other comprehensive loss

 

 

 

4.3

 

 

 

(22.6

)

 

 

(18.3

)

Balance at June 30, 2018

 

 

$

(140.3

)

 

$

18.3

 

 

$

(122.0

)

Accumulated other comprehensive loss by component as of December 31, 2016 and June 30, 2017, and changes during the six months ended June 30, 2017, were as follows:

 

 

Changes in the Fair Value of Available-for-Sale Securities

 

 

Pension and Other Postretirement

Benefits Plan Cost

 

 

Translation Adjustments

 

 

Total

 

Balance at December 31, 2016

$

119.3

 

 

$

(159.5

)

 

$

(15.5

)

 

$

(55.7

)

Other comprehensive (loss) income before reclassifications

 

(48.5

)

 

 

 

 

 

28.8

 

 

 

(19.7

)

Amounts reclassified from accumulated other comprehensive loss

 

(69.0

)

 

 

1.4

 

 

 

 

 

 

(67.6

)

Net change in accumulated other comprehensive loss

 

(117.5

)

 

 

1.4

 

 

 

28.8

 

 

 

(87.3

)

Balance at June 30, 2017

$

1.8

 

 

$

(158.1

)

 

$

13.3

 

 

$

(143.0

)

Reclassifications from accumulated other comprehensive loss for the three and six months ended June 30, 2018 and 2017 were as follows:

 

 

Three Months Ended

June 30,

 

 

Six Months Ended

June 30,

 

 

Classification in the Condensed

 

2018

 

 

2017

 

 

2018

 

 

2017

 

 

Consolidated Statements of Operations

Amortization of pension and other postretirement benefits plan cost:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net actuarial loss

$

1.9

 

 

$

1.8

 

 

$

3.9

 

 

$

3.5

 

 

Investment and other income-net

Net prior service credit

 

(0.7

)

 

 

(0.8

)

 

 

(1.4

)

 

 

(1.5

)

 

Investment and other income-net

Settlements

 

1.0

 

 

 

 

 

 

1.3

 

 

 

 

 

Investment and other income-net

Reclassifications before tax

 

2.2

 

 

 

1.0

 

 

 

3.8

 

 

 

2.0

 

 

 

Income tax benefit

 

0.3

 

 

 

0.3

 

 

 

0.7

 

 

 

0.6

 

 

 

Reclassification, net of tax

$

1.9

 

 

$

0.7

 

 

$

3.1

 

 

$

1.4

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Available-for-sale securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net realized gain on equity securities, before tax

$

 

 

$

(97.6

)

 

$

 

 

$

(51.0

)

 

Investment and other income-net

Income tax benefit

 

 

 

 

 

 

 

 

 

 

18.0

 

 

 

Reclassification, net of tax

 

 

 

 

(97.6

)

 

 

 

 

 

(69.0

)

 

 

Total reclassifications, net of tax

$

1.9

 

 

$

(96.9

)

 

$

3.1

 

 

$

(67.6

)