Changes in Accumulated Other Comprehensive Income (Loss)

The changes in accumulated other comprehensive income (loss) for the three months ended March 31, 2015 and 2014 were (in millions):



2015	Unrealized Gain (Loss) on Cash Flow Hedge			Unrealized Gain (Loss) on Available-for-Sale Securities			Defined Benefit Pension and Postemployment Plans			Foreign Currency Translation			Total
January 1	$	—		$	(1.2	)	$	(92.1	)	$	(524.9	)	$	(618.2	)
Other comprehensive income (loss) before reclassifications	(2.5		)	0.2			—			(318.4		)	(320.7		)
Amounts reclassified from accumulated other comprehensive income (loss)	—			—			2.2			—			2.2
Other comprehensive income (loss)	(2.5		)	0.2			2.2			(318.4		)	(318.5		)
March 31	$	(2.5	)	$	(1.0	)	$	(89.9	)	$	(843.3	)	$	(936.7	)



2014
January 1	$	—	$	(1.6	)	$	(68.8	)	$	(121.2	)	$	(191.6	)
Other comprehensive income (loss) before reclassifications	—		0.1			—			20.4			20.5
Amounts reclassified from accumulated other comprehensive income (loss)	—		—			1.4			—			1.4
Other comprehensive income (loss)	—		0.1			1.4			20.4			21.9
March 31	$	—	$	(1.5	)	$	(67.4	)	$	(100.8	)	$	(169.7	)

On March 26, 2015, we entered into a $1 billion receive floating (3 Month LIBOR) pay fixed (2.3209%) forward-starting 10-year interest rate swap in connection with the upcoming maturity of our $1 billion 5.9% Senior Notes on April 15, 2016. The swap mitigates the risk of changes in the semi-annual interest payments during the period March 26, 2015 to May 2, 2016, the contractual termination date of the swap, and effectively locks in the fixed interest rate, excluding the effect of our credit spread, on any refinancing. Accordingly, the swap is designated as a cash flow hedge of the semi-annual interest rate payments attributable to changes in the benchmark interest rate. We expect that the swap will have almost no ineffectiveness and is carried on the balance sheet at fair value and any net gain or loss on the swap is recorded in accumulated other comprehensive income. Upon termination of the swap, any gain or loss will be amortized to interest expense or will be recorded in our results of operations if the refinancing is not completed. At March 31, 2015, we recorded a liability of $4.2 million, which is included in long-term liabilities and the related loss of $2.5 million, net of income taxes, in other comprehensive income.

Reclassifications from accumulated other comprehensive income (loss) for the three months ended March 31, 2015 and 2014 were (in millions):



	2015		2014
Amortization of defined benefit pension and postemployment plans:
Prior service cost	$	1.9	$	1.6
Actuarial (gains) losses	1.8		0.7
Net periodic benefit cost (see Note 8)	3.7		2.3
Income taxes	1.5		0.9
Periodic benefit cost, net of income tax	$	2.2	$	1.4