XML 29 R18.htm IDEA: XBRL DOCUMENT v3.23.1
Accumulated Other Comprehensive Loss
3 Months Ended
Mar. 31, 2023
Equity [Abstract]  
Accumulated Other Comprehensive Loss

Note 10 — Accumulated Other Comprehensive Loss

 

Comprehensive loss represents net loss and other gains and losses affecting stockholders’ equity that are not reflected in the Condensed Consolidated Statements of Operations. The components of accumulated other comprehensive loss as of March 31, 2023 and December 31, 2022 were as follows:

 

(In millions)

 

Unrecognized
Net Defined
Benefit and
Postretirement
Plan Costs

 

 

Change in Fair
Value of
Derivatives
Products (1)

 

 

Foreign
Currency
Translation

 

 

Total

 

Balance at December 31, 2022

 

$

(49.1

)

 

$

(15.4

)

 

$

(109.9

)

 

$

(174.4

)

Other comprehensive (loss) income before reclassifications

 

 

(0.4

)

 

 

8.5

 

 

 

12.0

 

 

 

20.1

 

Amounts reclassified from accumulated other comprehensive
loss

 

 

0.4

 

 

 

1.8

 

 

 

 

 

2.2

 

Other comprehensive income (loss)

 

 

-

 

 

 

10.3

 

 

 

12.0

 

 

 

22.3

 

Balance at March 31, 2023

 

$

(49.1

)

 

$

(5.1

)

 

$

(97.9

)

 

$

(152.1

)

 

 

(1)
Includes forward foreign exchange contracts, interest rate derivatives and commodity swaps.

 

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 three months ended March 31, 2023 and 2022 were as follows:

 

 

 

Quarter Ended March 31, 2023

 

 

Quarter Ended March 31, 2022

 

(In millions)

 

Pre-tax (gain) loss

 

 

Net of tax (gain) loss

 

 

Pre-tax (gain) loss

 

 

Net of tax (gain) loss

 

Defined Benefit and Postretirement Plan Costs

 

$

0.5

 

 

$

0.4

 

 

$

0.5

 

 

$

0.3

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Derivative Products

 

 

 

 

 

 

 

 

 

 

 

 

  Foreign currency forward exchange contracts

 

 

3.7

 

 

 

2.7

 

 

 

0.7

 

 

 

0.4

 

  Commodity swaps

 

 

0.9

 

 

 

0.7

 

 

 

(0.8

)

 

 

(0.6

)

  Interest rate swaps

 

 

(2.1

)

 

 

(1.6

)

 

 

(7.5

)

 

 

(5.8

)

Total Derivative Products

 

$

2.5

 

 

$

1.8

 

 

$

(7.6

)

 

$

(6.0

)