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Accumulated Other Comprehensive Loss
 12 Months Ended
Dec. 31, 2022
Equity [Abstract]  
Accumulated Other Comprehensive Loss

Note 17 — Accumulated Other Comprehensive Loss

Comprehensive income represents net income and other gains and losses affecting stockholders’ equity that are not reflected in the Consolidated Statements of Operations.

The components of accumulated other comprehensive loss as of December 31, 2022 and 2021 were as follows:

 

 

 

Unrecognized
Net Defined
Benefit

 

 

Change in
Fair Value
of Derivatives

 

 

Foreign
Currency

 

 

 

 

(In millions)

 

Plan Costs

 

 

Products

 

 

Translation

 

 

Total

 

Balance at December 31, 2020

 

$

(40.4

)

 

$

15.6

 

 

$

(34.8

)

 

$

(59.6

)

Other comprehensive (loss) income before reclassifications

 

 

(22.0

)

 

 

7.7

 

 

 

(26.9

)

 

 

(41.2

)

Amounts reclassified from accumulated other comprehensive
   loss

 

 

0.7

 

 

 

(26.4

)

 

 

-

 

 

 

(25.7

)

Other comprehensive loss

 

 

(21.3

)

 

 

(18.7

)

 

 

(26.9

)

 

 

(66.9

)

Balance at December 31, 2021

 

$

(61.7

)

 

$

(3.1

)

 

$

(61.7

)

 

$

(126.5

)

Other comprehensive income (loss) before reclassifications

 

 

10.7

 

 

 

(10.9

)

 

 

(48.2

)

 

 

(48.4

)

Amounts reclassified from accumulated other comprehensive
   loss

 

 

1.9

 

 

 

(1.4

)

 

 

—

 

 

 

0.5

 

Other comprehensive income (loss)

 

 

12.6

 

 

 

(12.3

)

 

 

(48.2

)

 

 

(47.9

)

Balance at December 31, 2022

 

$

(49.1

)

 

$

(15.4

)

 

$

(109.9

)

 

$

(174.4

)

 

The amount of net (gains) losses reclassified to earnings from the unrecognized net defined benefit and postretirement plan costs and derivative products components of accumulated other comprehensive loss for the years ended December 31, 2022, 2021 and 2020 were as follows:

 

 

 

Year Ended December 31, 2022

 

 

Year Ended December 31, 2021

 

 

Year Ended December 31, 2020

 

(In millions)

 

Pre-tax (gain) loss

 

 

Net of tax (gain) loss

 

 

Pre-tax (gain) loss

 

 

Net of tax (gain) loss

 

 

Pre-tax (gain) loss

 

 

Net of tax (gain) loss

 

Defined Benefit and Postretirement Plan Costs

 

$

2.4

 

 

$

1.9

 

 

$

0.8

 

 

$

0.7

 

 

$

(1.0

)

 

$

(0.8

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Derivative Products

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Foreign currency forward exchange contracts

 

 

18.7

 

 

 

14.0

 

 

 

(5.2

)

 

 

(4.0

)

 

 

14.5

 

 

 

11.0

 

Commodity swaps

 

 

2.0

 

 

 

1.5

 

 

 

(3.6

)

 

 

(2.8

)

 

 

5.5

 

 

 

4.2

 

Interest rate swaps

 

 

(21.9

)

 

 

(16.9

)

 

 

(25.6

)

 

 

(19.6

)

 

 

9.3

 

 

 

7.0

 

Total Derivative Products

 

$

(1.2

)

 

$

(1.4

)

 

$

(34.4

)

 

$

(26.4

)

 

$

29.3

 

 

$

22.2