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Other Comprehensive Income (Loss) (Tables)
9 Months Ended
Sep. 30, 2022
Statement of Comprehensive Income [Abstract]  
Schedule of components of other comprehensive income (loss)
The following tables summarize the activity related to each component of other comprehensive income (loss) during the three months ended September 30, 2022 and 2021:
(Amounts presented net of taxes)Foreign Currency Translation Gains (Losses)Unrealized Net Gains (Losses) on SecuritiesDefined Benefit Pension and Retiree Health Benefit PlansEffective Portion of Cash Flow HedgesAccumulated Other Comprehensive Loss
Balance at July 1, 2022$(1,844.2)$(27.9)$(2,443.2)$27.6 $(4,287.7)
Other comprehensive income (loss) before reclassifications(165.1)(24.9)47.8 63.0 (79.2)
Net amount reclassified from accumulated other comprehensive loss 13.5 57.2 0.4 71.1 
Net other comprehensive income (loss)(165.1)(11.4)105.0 63.4 (8.1)
Balance at September 30, 2022
$(2,009.3)$(39.3)$(2,338.2)$91.0 $(4,295.8)
(Amounts presented net of taxes)Foreign Currency Translation Gains (Losses)Unrealized Net Gains (Losses) on SecuritiesDefined Benefit Pension and Retiree Health Benefit PlansEffective Portion of Cash Flow HedgesAccumulated Other Comprehensive Loss
Balance at July 1, 2021$(1,516.2)$9.1 $(4,569.9)$(210.1)$(6,287.1)
Other comprehensive income (loss) before reclassifications(8.0)(2.4)18.6 16.8 25.0 
Net amount reclassified from accumulated other comprehensive loss— 0.1 86.0 3.3 89.4 
Net other comprehensive income (loss)(8.0)(2.3)104.6 20.1 114.4 
Balance at September 30, 2021
$(1,524.2)$6.8 $(4,465.3)$(190.0)$(6,172.7)
The following tables summarize the activity related to each component of other comprehensive income (loss) during the nine months ended September 30, 2022 and 2021:
(Amounts presented net of taxes)Foreign Currency Translation Gains (Losses)Unrealized Net Gains (Losses) on SecuritiesDefined Benefit Pension and Retiree Health Benefit PlansEffective Portion of Cash Flow HedgesAccumulated Other Comprehensive Loss
Balance at January 1, 2022$(1,550.2)$3.7 $(2,583.6)$(213.0)$(4,343.1)
Other comprehensive income (loss) before reclassifications(459.7)(55.5)72.9 297.2 (145.1)
Net amount reclassified from accumulated other comprehensive loss0.6 12.5 172.5 6.8 192.4 
Net other comprehensive income (loss)(459.1)(43.0)245.4 304.0 47.3 
Balance at September 30, 2022
$(2,009.3)$(39.3)$(2,338.2)$91.0 $(4,295.8)
(Amounts presented net of taxes)Foreign Currency Translation Gains (Losses)Unrealized Net Gains (Losses) on SecuritiesDefined Benefit Pension and Retiree Health Benefit PlansEffective Portion of Cash Flow HedgesAccumulated Other Comprehensive Loss
Balance at January 1, 2021$(1,427.5)$14.8 $(4,751.0)$(332.7)$(6,496.4)
Other comprehensive income (loss) before reclassifications(96.7)(8.8)27.2 132.8 54.5 
Net amount reclassified from accumulated other comprehensive loss— 0.8 258.5 9.9 269.2 
Net other comprehensive income (loss)(96.7)(8.0)285.7 142.7 323.7 
Balance at September 30, 2021
$(1,524.2)$6.8 $(4,465.3)$(190.0)$(6,172.7)
The tax effects on the net activity related to each component of other comprehensive income (loss) were as follows:
Three Months Ended September 30,Nine Months Ended September 30,
Tax benefit (expense) 2022202120222021
Foreign currency translation gains/losses$(133.3)$(39.0)$(234.2)$(92.3)
Unrealized net gains/losses on securities3.4 0.8 13.1 3.8 
Defined benefit pension and retiree health benefit plans(22.4)(28.2)(73.2)(79.7)
Effective portion of cash flow hedges(16.9)(5.4)(80.8)(37.9)
Benefit (expense) for income taxes allocated to other comprehensive income (loss) items$(169.2)$(71.8)$(375.1)$(206.1)
Schedule of reclassifications out of accumulated other comprehensive loss
Reclassifications out of accumulated other comprehensive loss were as follows:
Details about Accumulated Other Comprehensive Loss ComponentsThree Months Ended September 30,Nine Months Ended September 30,Affected Line Item in the Consolidated Condensed Statements of Operations
2022202120222021
Amortization of retirement benefit items:
Prior service benefits, net
$(13.1)$(13.9)$(39.2)$(41.5)Other–net, (income) expense
Actuarial losses, net
85.5 122.7 257.5 368.7 Other–net, (income) expense
Total before tax72.4 108.8 218.3 327.2 
Tax benefit(15.2)(22.8)(45.8)(68.7)Income taxes
Net of tax57.2 86.0 172.5 258.5 
Other, net of tax
13.9 3.4 19.9 10.7 Other–net, (income) expense
Total reclassifications, net of tax$71.1 $89.4 $192.4 $269.2