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Other Comprehensive Income Information
 6 Months Ended
Jun. 30, 2015
Other Comprehensive Income Information  
Other Comprehensive Income Information

9.Other Comprehensive Income Information

 

Comprehensive income (loss) includes net income, foreign currency translation adjustments, unrecognized gains and losses on securities, defined benefit pension and postretirement plan adjustments, gains and losses on derivative instruments designated and effective as cash flow hedges and non-derivative instruments designated and effective as foreign currency net investment hedges that are charged or credited to the accumulated other comprehensive loss account in shareholders’ equity.

 

The following tables provide other comprehensive income information related to the company’s derivatives and hedging instruments and pension and postretirement benefits. See Note 8 for additional information related to the company’s derivatives and hedging transactions. See Note 13 for additional information related to the company’s recognition of net actuarial losses and amortization of prior service benefits.

 

 

 

Second Quarter Ended

 

Six Months Ended

 

 

 

June 30

 

June 30

 

(millions)

 

2015

 

2014

 

2015

 

2014

 

Derivative & Hedging Instruments

 

 

 

 

 

 

 

 

 

Unrealized gains (losses) on derivative & hedging instruments

 

 

 

 

 

 

 

 

 

Amount recognized into AOCI

 

$
2.5

 

$
(2.9

)

$
13.4

 

$
(2.7

)

 

 

 

 

 

 

 

 

 

 

(Gains) losses reclassified from AOCI into income

 

 

 

 

 

 

 

 

 

Cost of sales

 
(5.1

)
(2.7

)
(9.9

)
(2.5

)

SG&A

 
(0.4

)
(0.4

)
(0.9

)
(1.0

)

Interest expense, net

 
1.4

 
1.0

 
2.6

 
2.0

 

 

 

 

 

 

 

 

 

 

 

 

 
(4.1

)
(2.1

)
(8.2

)  
(1.5)

 

 

 

 

 

 

 

 

 

 

 

Translation & other insignificant activity

 
(0.1

)
(0.4

)
(0.5

)
0.3

 

Tax impact

 
(1.2

)
1.3

 
0.2

 
(0.2

)

 

 

 

 

 

 

 

 

 

 

Net of tax

 

$
(2.9

)

$
(4.1

)

$
4.9

 

$
(4.1

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pension & Postretirement Benefits

 

 

 

 

 

 

 

 

 

Amounts reclassified from AOCI into income

 

 

 

 

 

 

 

 

 

Actuarial losses

 

$
14.5

 

$
5.7

 

$
29.0

 

$
11.5

 

Prior service costs

 
(2.0

)
(1.7

)
(3.7

)
(3.4

)

 

 

 

 

 

 

 

 

 

 

 

 
12.5

 
4.0

 
25.3

 
8.1

 

Tax impact

 
(4.4

)
(1.5

)
(9.2

)
(3.0

)

 

 

 

 

 

 

 

 

 

 

Net of tax

 

$
8.1

 

$
2.5

 

$
16.1

 

$
5.1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The following table summarizes the derivative and pension and postretirement benefit amounts reclassified from AOCI into income.

 

 

 

Second Quarter Ended

 

Six Months Ended

 

 

 

June 30

 

June 30

 

(millions)

 

2015

 

2014

 

2015

 

2014

 

 

 

 

 

 

 

 

 

 

 

Derivative gains reclassified from AOCI into income, net of tax

 

$
(3.1

)

$
(1.6

)

$
(6.3

)

$
(1.3

)

 

 

 

 

 

 

 

 

 

 

Pension and Postretirement Benefits net actuarial losses and prior services costs reclassified from AOCI into income, net of tax

 

$
8.1

 

$
2.5

 

$
16.1

 

$
5.1