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Accumulated Other Comprehensive Earnings
 12 Months Ended
Dec. 31, 2020
Equity [Abstract]  
Accumulated Other Comprehensive Earnings

21.  Accumulated Other Comprehensive Earnings

The after-tax components of our accumulated comprehensive earnings (loss) attributable to controlling interests consist of the following (in millions):  

 

 

 

Pension

Liability

 

 

Foreign

Currency

Translation

 

 

Fair Value

of Derivative

Instruments

 

 

Accumulated

Comprehensive

Earnings

(Loss)

 

Balance as of January 1, 2018

 

$

(43.0

)

 

$

(521.3

)

 

$

8.9

 

 

$

(555.4

)

Reclassification to retained earnings of income tax

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

effects related to the TCJA

 

 

(7.9

)

 

 

—

 

 

 

1.3

 

 

 

(6.6

)

Net change in period

 

 

(10.3

)

 

 

(197.7

)

 

 

(15.6

)

 

 

(223.6

)

Balance as of December 31, 2018

 

 

(61.2

)

 

 

(719.0

)

 

 

(5.4

)

 

 

(785.6

)

Cumulative effect of adoption of new

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

accounting standards

 

 

—

 

 

 

—

 

 

 

(0.2

)

 

 

(0.2

)

Net change in period

 

 

4.7

 

 

 

44.2

 

 

 

(22.7

)

 

 

26.2

 

Balance as of December 31, 2019

 

 

(56.5

)

 

 

(674.8

)

 

 

(28.3

)

 

 

(759.6

)

Net change in period

 

 

0.4

 

 

 

183.7

 

 

 

(68.1

)

 

 

116.0

 

Balance as of December 31, 2020

 

$

(56.1

)

 

$

(491.1

)

 

$

(96.4

)

 

$

(643.6

)

 

The foreign currency translation in 2020, 2019 and 2018 relates to the net impact of changes in the value of the local currencies relative to the U.S. dollar for our operations in the U.K., Australia, Canada, New Zealand, the Caribbean, India and other non-U.S. locations.  

During 2020, 2019 and 2018, $6.1 million, $7.0 million and $4.9 million, respectively, of expense related to the pension liability was reclassified from accumulated other comprehensive loss to compensation expense in the statement of earnings.  During 2020, 2019 and 2018, $6.3 million of expense, $5.2 million of expense and $5.7 million of income, respectively, related to the fair value of derivative investments, was reclassified from accumulated other comprehensive loss to the statement of earnings.  During 2020, 2019 and 2018, no amounts related to foreign currency translation were reclassified from accumulated other comprehensive loss to the statement of earnings.