ACCUMULATED OTHER COMPREHENSIVE LOSS The tables below summarize changes in accumulated other comprehensive loss (AOCL), net of tax, attributable to Air Products for the three and nine months ended 30 June 2018: | | | | | | | | | | | | | | | Derivatives qualifying as hedges |
| Foreign currency translation adjustments |
| Pension and postretirement benefits |
| Total |
| Balance at 31 March 2018 |
| ($51.4 | ) |
| ($526.2 | ) |
| ($957.7 | ) |
| ($1,535.3 | ) | Other comprehensive income (loss) before reclassifications | 27.1 |
| (392.4 | ) | — |
| (365.3 | ) | Amounts reclassified from AOCL | (17.7 | ) | — |
| 26.0 |
| 8.3 |
| Net current period other comprehensive income (loss) | 9.4 |
| (392.4 | ) | 26.0 |
| (357.0 | ) | Amount attributable to noncontrolling interests | .1 |
| (14.6 | ) | — |
| (14.5 | ) | Balance at 30 June 2018 |
| ($42.1 | ) |
| ($904.0 | ) |
| ($931.7 | ) |
| ($1,877.8 | ) |
| | | | | | | | | | | | | | | | | | | | Derivatives qualifying as hedges |
| Foreign currency translation adjustments |
| Pension and postretirement benefits |
| Total |
| Balance at 30 September 2017 |
| ($53.1 | ) |
| ($787.1 | ) |
| ($1,007.2 | ) |
| ($1,847.4 | ) | Other comprehensive income (loss) before reclassifications | 35.4 |
| (130.4 | ) | — |
| (95.0 | ) | Amounts reclassified from AOCL | (24.4 | ) | 3.1 |
| 75.5 |
| 54.2 |
| Net current period other comprehensive income (loss) | 11.0 |
| (127.3 | ) | 75.5 |
| (40.8 | ) | Amount attributable to noncontrolling interests | — |
| (10.4 | ) | — |
| (10.4 | ) | Balance at 30 June 2018 |
| ($42.1 | ) |
| ($904.0 | ) |
| ($931.7 | ) |
| ($1,877.8 | ) |
The table below summarizes the reclassifications out of accumulated other comprehensive loss and the affected line item on the consolidated income statements: | | | | | | | | | | | | | | | Three Months Ended | Nine Months Ended | | 30 June | 30 June | | 2018 | 2017 | 2018 | 2017 | (Gain) Loss on Cash Flow Hedges, net of tax | | | | | Sales/Cost of sales |
| $1.9 |
|
| $4.3 |
|
| $6.9 |
|
| $10.1 |
| Other income/expense, net | (22.4 | ) | (29.0 | ) | (37.6 | ) | (2.4 | ) | Interest expense | 2.8 |
| 1.1 |
| 6.3 |
| .1 |
| Total (Gain) Loss on Cash Flow Hedges, net of tax |
| ($17.7 | ) |
| ($23.6 | ) |
| ($24.4 | ) |
| $7.8 |
| | | | | | Currency Translation Adjustment | | | | | Cost of sales(A) |
| $— |
|
| $— |
|
| $3.1 |
|
| $— |
| Cost reduction and assets actions(B) | — |
| 8.2 |
| — |
| 8.2 |
| Loss from discontinued operations, net of tax(C) | — |
| — |
| — |
| 49.1 |
| Total Currency Translation Adjustment |
| $— |
|
| $8.2 |
|
| $3.1 |
|
| $57.3 |
| | | | | | Pension and Postretirement Benefits, net of tax(D) |
| $26.0 |
|
| $27.7 |
|
| $75.5 |
|
| $85.2 |
|
| | (A) | The fiscal year 2018 impact relates to an equipment sale resulting from the termination of a contract in the Industrial Gases – Asia segment during the first quarter. |
| | (B) | The fiscal year 2017 impact relates to the planned sale of a non-industrial gas hardgoods business in the Industrial Gases – Americas segment. |
| | (C) | The fiscal year 2017 impact relates to the sale of PMD during the second quarter. |
(D) The components of net periodic benefit cost reclassified out of accumulated other comprehensive loss include items such as prior service cost amortization, actuarial loss amortization, and settlements and are included in “Other non-operating income (expense), net” on the consolidated income statements. Refer to Note 13, Retirement Benefits, for additional information.
|