Shareholders' Equity

12 Months Ended

Dec. 31, 2015

Shareholders' Equity [Abstract]

Shareholders' Equity

NOTE 24. SHAREHOLDERS' EQUITY

There were 5,057,382 treasury shares at December 31, 2015 and December 31, 2014.

The balance of each component of accumulated other comprehensive (loss), net of tax as of December 31, 2015 and 2014 is presented in the table below.

	December 31, 2015	December 31, 2014
Foreign currency translation adjustments	($33.8)	($8.3)
Derivative (loss), net	(3.3)	(4.0)
Pension and postretirement adjustments	(450.3)	(483.2)
Accumulated other comprehensive (loss)	($487.4)	($495.5)

The amounts and related tax effects allocated to each component of other comprehensive income (loss) for 2015, 2014, and 2013 are presented in the table below.

	Pre-tax Amount	Tax Benefit	After-tax Amount
2015
Foreign currency translation adjustments	($25.5)	-	($25.5)
Derivative gain, net	1.1	($0.4)	0.7
Pension and postretirement adjustments	50.7	(17.8)	32.9
Total other comprehensive income	$26.3	($18.2)	$8.1

	Pre-tax Amount	Tax Expense	After-tax Amount
2014
Foreign currency translation adjustments	($29.6)	-	($29.6)
Derivative (loss), net	(4.9)	$1.6	(3.3)
Pension and postretirement adjustments	(153.6)	62.6	(91.0)
Total other comprehensive (loss)	($188.1)	$64.2	($123.9)

	Pre-tax Amount	Tax Benefit	After-tax Amount
2013
Foreign currency translation adjustments	($8.8)	-	($8.8)
Derivative gain, 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

The following table summarizes the activity, by component, related to the change in AOCI for December 31, 2015 and 2014:

	Foreign Currency Translation Adjustments (1)	Derivative (Loss) Gain (1)	Pension and Postretirement Adjustments (1)	Total Accumulated Other Comprehensive (Loss) (1)
Balance, December 31, 2013	$21.3	($0.7)	($392.2)	($371.6)
Other comprehensive income before reclassifications, net of tax (expense) benefit of $ -, ($0.8), $77.2, and $76.4	(29.6)	1.1	(118.0)	(146.5)
Amounts reclassified from accumulated other comprehensive income	-	(4.4)	27.0	22.6
Net current period other comprehensive (loss) income	(29.6)	(3.3)	(91.0)	(123.9)
Balance, December 31, 2014	($8.3)	($4.0)	($483.2)	($495.5)
Other comprehensive income before reclassifications, net of tax (expense) benefit of $ -, ($1.8), $6.4, and $4.6	(25.5)	3.5	(12.0)	(34.0)
Amounts reclassified from accumulated other comprehensive income	-	(2.8)	44.9	42.1
Net current period other comprehensive (loss)	(25.5)	0.7	32.9	8.1
Balance, December 31, 2015	($33.8)	($3.3)	($450.3)	($487.4)
(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 AOCI		Affected Line Item in the Consolidated Statement of Earnings and Comprehensive Income
	2015	2014
Derivative Adjustments:
Natural gas commodity contracts	$4.4	($0.7)	Cost of goods sold
Foreign exchange contracts - purchases	(1.0)	(1.0)	Cost of goods sold
Foreign exchange contracts - sales	(8.4)	(5.0)	Net sales
Interest rate swap contracts	0.8	-	Interest expense
Total expense, before tax	(4.2)	(6.7)
Tax impact	1.4	2.3	Income tax expense
Total expense, net of tax	(2.8)	(4.4)
Pension and Postretirement Adjustments:
Prior service cost amortization	0.6	0.6	Cost of goods sold
Prior service cost amortization	0.7	0.7	SG&A expense
Amortization of net actuarial loss	35.5	21.7	Cost of goods sold
Amortization of net actuarial loss	32.3	18.6	SG&A expense
Total expense, before tax	69.1	41.6
Tax impact	(24.2)	(14.6)	Income tax expense
Total expense, net of tax	44.9	27.0
Total reclassifications for the period	$42.1	$22.6

Amounts reported above for 2014 and 2013 include amounts that have been classified as discontinued operations.