Other Comprehensive (Loss) Income

12 Months Ended

Dec. 31, 2018

Note 15. Other Comprehensive (Loss) Income

The components of other comprehensive (loss) income and income tax expense allocated to each component for the years ended December 31, 2018, 2017 and 2016 were as follows:

	2018								2017									2016
	Before Tax Amount			Income Tax		Net of Tax Amount			Before Tax Amount			Income Tax			Net of Tax Amount			Before Tax Amount			Income Tax		Net of Tax Amount
Translation adjustments	$	(39.9	)	$	—	$	(39.9	)	$	57.1		$	—		$	57.1		$	(38.3	)	$	—	$	(38.3	)
Adjustment for net periodic pension and OPEB plan cost		15.3			3.9		11.4			22.4			7.5			14.9			20.2			9.0		11.2
Adjustment for available-for-sale securities		—			—		—			(122.3	)		(3.0	)		(119.3	)		122.3			3.0		119.3
Other comprehensive (loss) income	$	(24.6	)	$	3.9	$	(28.5	)	$	(42.8	)	$	4.5		$	(47.3	)	$	104.2		$	12.0	$	92.2

During the year ended December 31, 2016, translation adjustments and income tax expense on pension and OPEB plan cost were adjusted to reflect previously recorded deferred taxes at their historical exchange rates.

The following table summarizes changes in accumulated other comprehensive loss by component for the years ended December 31, 2018, 2017 and 2016:

	Changes in the Fair Value of Available-for-Sale Securities			Pension and OPEB Plan Cost			Translation Adjustments			Total
Balance at January 1, 2016	$	—		$	(727.5	)	$	(65.7	)	$	(793.2	)
Other comprehensive income (loss) before reclassifications		119.3			(42.7	)		(37.1	)		39.5
Amounts reclassified from accumulated other comprehensive loss		—			52.7			—			52.7
Amounts reclassified due to disposition of an operating entity		—			1.2			(0.7	)		0.5
Net change in accumulated other comprehensive income		119.3			11.2			(37.8	)		92.7
Distribution to Donnelley Financial and LSC		—			556.8			88.0			644.8
Balance at December 31, 2016	$	119.3		$	(159.5	)	$	(15.5	)	$	(55.7	)
Other comprehensive (loss) income before reclassifications		(48.5	)		10.6			53.6			15.7
Amounts reclassified from accumulated other comprehensive loss		(70.8	)		4.3			2.8			(63.7	)
Net change in accumulated other comprehensive loss		(119.3	)		14.9			56.4			(48.0	)
Balance at December 31, 2017	$	—		$	(144.6	)	$	40.9		$	(103.7	)
Other comprehensive income (loss) before reclassifications		—			6.4			(39.5	)		(33.1	)
Amounts reclassified from accumulated other comprehensive loss		—			4.4			—			4.4
Impact of adopting ASU 2018-02		—			(22.0	)		—			(22.0	)
Other		—			0.6			—			0.6
Net change in accumulated other comprehensive loss		—			(10.6	)		(39.5	)		(50.1	)
Balance at December 31, 2018	$	—		$	(155.2	)	$	1.4		$	(153.8	)

As of July 1, 2018, we adopted ASU 2018-02, “Income Statement—Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income,” which resulted in a decrease to Accumulated deficit and increase to Accumulated other comprehensive loss of $22.0 million. See Note 18, New Accounting Pronouncements, for further discussion.

Reclassifications from accumulated other comprehensive loss for the year ended December 31, 2018, 2017 and 2016 were as follows:

	2018			2017			2016			Classification in the Consolidated Statements of Operations
Translation Adjustments:
Net realized loss	$	—		$	2.8		$	—		(a)
Reclassifications, net of tax	$	—		$	2.8		$	—
Amortization of pension and OPEB plan cost:
Net actuarial loss	$	7.3		$	7.2		$	26.2		(b)
Net prior service credit		(3.3	)		(2.8	)		(12.7	)	(b)
Curtailments and settlements		1.9			1.6			78.9		(b)
Reclassifications before tax		5.9			6.0			92.4
Income tax expense		1.5			1.7			39.7
Reclassifications, net of tax	$	4.4		$	4.3		$	52.7
Available-for-sale securities:
Net realized gain on equity securities	$	—		$	(52.8	)	$	—		(c)
Reclassifications before tax		—			(52.8	)		—
Income tax expense		—			18.0			—
Reclassifications, net of tax	$	—		$	(70.8	)	$	—
Total reclassifications, net of tax	$	4.4		$	(63.7	)	$	52.7

(a)	Included within selling, general and administrative expenses in the Consolidated Statements of Operations.

(b)	These accumulated other comprehensive (loss) income components are included in the calculation of net periodic pension and OPEB plan (income) expense recognized in cost of sales and net investment and other income in the Consolidated Statements of Operations (see Note 10, Retirement Plans).

(c)	Included within net investment and other income in the Consolidated Statements of Operations.