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OTHER COMPREHENSIVE INCOME (LOSS) INFORMATION
 9 Months Ended
Sep. 30, 2018
OTHER COMPREHENSIVE INCOME (LOSS) INFORMATION  
OTHER COMPREHENSIVE INCOME (LOSS) INFORMATION

9. OTHER COMPREHENSIVE INCOME (LOSS) INFORMATION

 

Other 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 pension and postretirement benefits activity.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Third Quarter Ended 

 

Nine Months Ended 

 

 

September 30

 

September 30

(millions)

    

2018

 

2017

    

2018

 

2017

Derivative and Hedging Instruments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unrealized gains (losses) on derivative & hedging instruments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amount recognized in AOCI

 

 

$32.9

 

 

 

$(118.8)

 

 

$85.6

 

 

 

$(192.4)

(Gains) losses reclassified from AOCI into income

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of sales

 

 

2.0

 

 

 

0.9

 

 

8.7

 

 

 

11.7

SG&A

 

 

(12.4)

 

 

 

99.5

 

 

(39.3)

 

 

 

157.3

Interest (income) expense, net

 

 

(9.1)

 

 

 

(5.6)

 

 

(22.5)

 

 

 

(10.7)

 

 

 

(19.5)

 

 

 

94.8

 

 

(53.1)

 

 

 

158.3

Other activity

 

 

0.1

 

 

 

(0.6)

 

 

 -

 

 

 

(0.1)

Tax impact

 

 

(2.5)

 

 

 

3.8

 

 

(6.2)

 

 

 

5.1

Net of tax

 

 

$11.0

 

 

 

$(20.8)

 

 

$26.3

 

 

 

$(29.1)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pension and Postretirement Benefits

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amount reclassified from AOCI into income

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amortization of net actuarial loss and prior service costs

 

 

6.0

 

 

 

5.2

 

 

21.4

 

 

 

15.2

Postretirement benefits changes

 

 

 -

 

 

 

 -

 

 

18.9

 

 

 

 -

 

 

 

6.0

 

 

 

5.2

 

 

40.3

 

 

 

15.2

Other activity

 

 

3.3

 

 

 

 -

 

 

7.9

 

 

 

 -

Tax impact

 

 

(1.5)

 

 

 

(3.9)

 

 

(9.7)

 

 

 

(7.0)

Net of tax

 

 

$7.8

 

 

 

$1.3

 

 

$38.5

 

 

 

$8.2

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Third Quarter Ended 

 

Nine Months Ended 

 

 

September 30

 

September 30

 

    

2018

 

2017

    

2018

 

2017

(millions)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Derivative (gains) losses reclassified from AOCI into income, net of tax

 

 

$(16.0)

 

 

 

$72.7

 

 

$(42.3)

 

 

 

$120.3

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pension and postretirement benefits net actuarial losses

 

 

 

 

 

 

 

 

 

 

 

 

 

 

and prior services costs reclassified from AOCI into income, net of tax

 

 

$4.5

 

 

 

$1.3

 

 

$16.2

 

 

 

$8.2