XML 51 R24.htm IDEA: XBRL DOCUMENT v3.20.4
Accumulated Other Comprehensive Loss
 12 Months Ended
Dec. 31, 2020
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, 2020 and 2019 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, 2018

 

$

(15.4

)

 

$

(5.8

)

 

$

(86.8

)

 

$

(108.0

)

Other comprehensive loss before reclassifications

 

 

(6.2

)

 

 

(12.8

)

 

 

(2.6

)

 

 

(21.6

)

Amounts reclassified from accumulated other comprehensive

   loss

 

 

(0.8

)

 

 

11.7

 

 

 

-

 

 

 

10.9

 

Other comprehensive loss

 

 

(7.0

)

 

 

(1.1

)

 

 

(2.6

)

 

 

(10.7

)

Balance at December 31, 2019

 

$

(22.4

)

 

$

(6.9

)

 

$

(89.4

)

 

$

(118.7

)

Other comprehensive loss before reclassifications

 

 

(16.6

)

 

 

0.3

 

 

 

54.6

 

 

 

38.3

 

Amounts reclassified from accumulated other comprehensive

   loss

 

 

(1.4

)

 

 

22.2

 

 

—

 

 

 

20.8

 

Other comprehensive loss

 

 

(18.0

)

 

 

22.5

 

 

 

54.6

 

 

 

59.1

 

Balance at December 31, 2020

 

$

(40.4

)

 

$

15.6

 

 

$

(34.8

)

 

$

(59.6

)

 

The amounts reclassified to earnings from the unrecognized net defined benefit plan costs component of accumulated other comprehensive loss for the year ended December 31, 2020 were net gains of $1.0 million less taxes of $0.2 million. The amounts reclassified to earnings from the change in fair value of the derivatives component of accumulated other comprehensive loss for the year ended December 31, 2020 were net losses of $14.5 million less taxes of $3.5 million related to foreign currency forward exchange contracts, net losses of $9.3 million less taxes of $2.2 million related to interest swaps and net losses of $5.5 million less taxes of $1.3 million related to commodity swaps.

The amounts reclassified to earnings from the unrecognized net defined benefit plan costs component of accumulated other comprehensive loss for the year ended December 31, 2019 were $1.0 million less taxes of $0.2 million. Amounts reclassified to earnings from the change in fair value of the derivatives component of accumulated other comprehensive loss for the year ended December 31, 2019 were net losses of $13.1 million less taxes of $3.0 million related to foreign currency forward exchange contracts, net gains of $1.3 million less taxes of $0.2 million related to interest swaps and net losses of $3.5 million less taxes of $0.8 million related to commodity swaps.  

The amounts reclassified to earnings from the unrecognized net defined benefit plan costs component of accumulated other comprehensive loss for the year ended December 31, 2018 were $0.7 million less taxes of $0.2 million. Amounts reclassified to earnings from the change in fair value of the derivative component of accumulated other comprehensive loss for the year ended December 31, 2018 were not significant. The 2018 amounts include $1.6 million for the reclass to retained earnings as a result of the adoption of ASU No. 2018-02, Income Statement-Reporting Comprehensive Income.