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Other Comprehensive Income (Loss)
 3 Months Ended
Mar. 31, 2020
Statement of Comprehensive Income [Abstract]  
Other Comprehensive Income (Loss) Other Comprehensive Income (Loss)
The following tables summarize the activity related to each component of other comprehensive income (loss) during the three months ended March 31, 2020 and 2019:
 
Continuing Operations
 
 
 
 
(Amounts presented net of taxes)
Foreign Currency Translation Gains (Losses)
 
Unrealized Net Gains (Losses) on Securities
 
Defined Benefit Pension and Retiree Health Benefit Plans
 
Effective Portion of Cash Flow Hedges
 
Discontinued Operations
 
Accumulated Other Comprehensive Loss
Balance at January 1, 2020
$
(1,678.0
)
 
$
4.9

 
$
(4,638.6
)
 
$
(211.9
)
 
$
—

 
$
(6,523.6
)
Other comprehensive income (loss) before reclassifications
(126.5
)
 
1.0

 
30.9

 
(348.2
)
 
—

 
(442.8
)
Net amount reclassified from accumulated other comprehensive loss
—

 
(0.1
)
 
77.4

 
3.2

 
—

 
80.5

Net other comprehensive income (loss)
(126.5
)
 
0.9

 
108.3

 
(345.0
)
 
—

 
(362.3
)
Balance at March 31, 2020
$
(1,804.5
)
 
$
5.8

 
$
(4,530.3
)
 
$
(556.9
)
 
$
—

 
$
(6,885.9
)

 
Continuing Operations
 
 
 
 
(Amounts presented net of taxes)
Foreign Currency Translation Gains (Losses)
 
Unrealized Net Gains (Losses) on Securities
 
Defined Benefit Pension and Retiree Health Benefit Plans
 
Effective Portion of Cash Flow Hedges
 
Discontinued Operations
 
Accumulated Other Comprehensive Loss
Balance at January 1, 2019 (1)
$
(1,569.7
)
 
$
(22.1
)
 
$
(3,852.7
)
 
$
(238.9
)
 
$
(56.8
)
 
$
(5,740.2
)
Other comprehensive income (loss) before reclassifications
(31.7
)
 
16.8

 
(5.7
)
 
(32.9
)
 
(27.2
)
 
(80.7
)
Net amount reclassified from accumulated other comprehensive loss
—

 
1.7

 
44.7

 
3.0

 
84.0

 
133.4

Net other comprehensive income (loss)
(31.7
)
 
18.5

 
39.0

 
(29.9
)
 
56.8

 
52.7

Balance at March 31, 2019
$
(1,601.4
)
 
$
(3.6
)
 
$
(3,813.7
)
 
$
(268.8
)
 
$
—

 
$
(5,687.5
)
(1) Accumulated other comprehensive loss as of January 1, 2019 consists of $5.73 billion of accumulated other comprehensive loss attributable to controlling interest and $11.0 million of accumulated other comprehensive loss attributable to noncontrolling interest.
The tax effects on the net activity related to each component of other comprehensive income (loss) were as follows:
 
Three Months Ended
March 31,
Tax benefit (expense)
2020
 
2019
Foreign currency translation gains/losses
$
(38.5
)
 
$
(19.3
)
Unrealized net gains/losses on securities
(0.3
)
 
(4.8
)
Defined benefit pension and retiree health benefit plans
(25.7
)
 
(11.4
)
Effective portion of cash flow hedges
91.7

 
8.0

Benefit/(provision) for income taxes allocated to other comprehensive income (loss) items
$
27.2


$
(27.5
)

Except for the tax effects of foreign currency translation gains and losses related to our foreign currency-denominated notes, cross-currency interest rate swaps, and other foreign currency exchange contracts designated as net investment hedges (see Note 7), income taxes were not provided for foreign currency translation. Generally, the assets and liabilities of foreign operations are translated into U.S. dollars using the current exchange rate. For those operations, changes in exchange rates generally do not affect cash flows; therefore, resulting translation adjustments are made in shareholders' equity rather than in the consolidated condensed statements of operations.
Reclassifications out of accumulated other comprehensive loss were as follows:
 
Details about Accumulated Other Comprehensive Loss Components
 
Three Months Ended
March 31,
Affected Line Item in the Consolidated Condensed Statements of Operations
 
 
 
2020
 
2019
 
Amortization of retirement benefit items:
 
 
 
 
 
 
Prior service benefits, net
 
$
(13.8
)
 
$
(14.2
)
Other–net, (income) expense
 
Actuarial losses, net
 
111.8

 
70.1

Other–net, (income) expense
 
Total before tax
 
98.0

 
55.9

 
 
Tax benefit
 
(20.6
)
 
(11.2
)
Income taxes
 
Net of tax
 
77.4

 
44.7

 
 
 
 
 
 
 
 
 
Other, net of tax
 
3.1

 
4.7

Other–net, (income) expense
 
Reclassifications from continuing operations (net of tax)
 
80.5

 
49.4

 
 
Reclassifications from discontinued operations (net of tax)
 
—

 
84.0

Net income from discontinued operations
 
Total reclassifications for the period (net of tax)
 
$
80.5

 
$
133.4