Shareholders' Equity

12 Months Ended

Dec. 31, 2013

Shareholders' Equity [Abstract]

Shareholders' Equity

NOTE 27. SHAREHOLDERS' EQUITY

There were 5,057,382 treasury shares at December 31, 2013 and no treasury shares at December 31, 2012.

The balance of each component of accumulated other comprehensive (loss), net of tax as of December 31, 2013 and 2012 is presented in the table below.

	December 31, 2013	December 31, 2012
Foreign currency translation adjustments	$ 21.3	$ 30.1
Derivative (loss), net	(0.7)	(19.2)
Pension and postretirement adjustments	(392.2)	(482.3)
Accumulated other comprehensive (loss)	($371.6)	($471.4)

The amounts and related tax effects allocated to each component of other comprehensive income (loss) for 2013, 2012, and 2011 are presented in the table below.

	Pre-tax Amount	Tax Expense	After-tax Amount
2013
Foreign currency translation adjustments	($8.8)	-	($8.8)
Derivative (loss), net	28.4	($9.9)	18.5
Pension and postretirement adjustments	139.4	(49.3)	90.1
Total other comprehensive income	$ 159.0	($59.2)	$ 99.8

	Pre-tax Amount	Tax Benefit	After-tax Amount
2012
Foreign currency translation adjustments	$ 7.0	-	$ 7.0
Derivative (loss), net	(8.0)	$ 2.8	(5.2)
Pension and postretirement adjustments	(68.5)	10.3	(58.2)
Total other comprehensive (loss)	($69.5)	$ 13.1	($56.4)

	Pre-tax Amount	Tax Benefit	After-tax Amount
2011
Foreign currency translation adjustments	($1.6)	-	($1.6)
Derivative (loss), net	(14.4)	$ 5.4	(9.0)
Pension and postretirement adjustments	(122.3)	43.6	(78.7)
Total other comprehensive (loss)	($138.3)	$ 49.0	($89.3)

The following table summarizes the activity, by component, related to the change in AOCI for December 31, 2013:

	Foreign Currency Translation Adjustments (1)	Derivative (Loss) Gain (1)	Pension and Postretirement Adjustments (1)	Total Accumulated Other Comprehensive (Loss) (1)
Balance, December 31, 2012	$ 30.1	($19.2)	($482.3)	($471.4)
Other comprehensive (loss) income before reclassifications, net of tax (expense) of $ -, ($9.5),  ($34.6), and ($42.8)	(8.8)	18.3	62.8	72.3
Amounts reclassified from accumulated other comprehensive income	-	0.2	27.3	27.5
Net current period other comprehensive (loss) income	(8.8)	18.5	90.1	99.8
Balance, December 31, 2013	$ 21.3	($0.7)	($392.2)	($371.6)
(1) Amounts are net of tax

The amounts reclassified from AOCI and the affected line item of the Consolidated Statement of  Earnings and Comprehensive Income are presented in the table below.

	Amounts Reclassified from Accumulated Other Comprehensive Income	Affected Line Item in the Consolidated Statement of Earnings and Comprehensive Income
Derivative (Loss) Gain:
Natural gas commodity contracts	$ 2.6	Cost of goods sold
Foreign exchange contracts - purchases and sales	(2.3)	Cost of goods sold
Total before tax	0.3
Tax expense	(0.1)	Income tax expense
Total net of tax	0.2
Pension and Postretirement Adjustments:
Prior service cost amortization	0.8	Cost of goods sold
Prior service cost amortization	1.0	SG&A expense
Amortization of net actuarial loss	21.4	Cost of goods sold
Amortization of net actuarial loss	18.8	SG&A expense
Total before tax	42.0
Tax expense	(14.7)	Income tax expense
Total net of tax	27.3
Total reclassifications for the period	$ 27.5