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Shareholders' Equity (Tables)
12 Months Ended
Dec. 31, 2016
Stockholders Equity Note [Abstract]  
Components of Accumulated Other Comprehensive Income (Loss)

 

 

 

December 31, 2016

 

 

December 31, 2015

 

Foreign currency translation adjustments

 

$

(71.6

)

 

$

(33.8

)

Derivative gain (loss), net

 

 

3.8

 

 

 

(3.3

)

Pension and postretirement adjustments

 

 

(336.0

)

 

 

(450.3

)

Accumulated other comprehensive (loss)

 

$

(403.8

)

 

$

(487.4

)

 

Schedule of Other Comprehensive Income (Loss)

 

 

 

Pre-tax

Amount

 

 

Tax Benefit

 

 

After-

tax Amount

 

2016

 

 

 

 

 

 

 

 

 

 

 

 

Foreign currency translation adjustments

 

$

(33.2

)

 

$

-

 

 

$

(33.2

)

Derivative gain, net

 

 

11.9

 

 

 

(4.4

)

 

 

7.5

 

Pension and postretirement adjustments

 

 

75.7

 

 

 

(26.4

)

 

 

49.3

 

Total other comprehensive income

 

$

54.4

 

 

$

(30.8

)

 

$

23.6

 

 

 

 

Pre-tax

Amount

 

 

Tax Expense

 

 

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 Benefit

 

 

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) income

 

$

(188.1

)

 

$

64.2

 

 

$

(123.9

)

 

Schedule of Accumulated Other Comprehensive Income Activity

 

 

Foreign

Currency

Translation

Adjustments (1)

 

 

Derivative

(Loss)

Gain (1)

 

 

Pension and

Postretirement

Adjustments (1)

 

 

Total Accumulated

Other

Comprehensive

(Loss) (1)

 

Balance, December 31, 2014

 

$

(8.3

)

 

$

(4.0

)

 

$

(483.2

)

 

$

(495.5

)

Other comprehensive (loss) 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) income

 

 

(25.5

)

 

 

0.7

 

 

 

32.9

 

 

 

8.1

 

Balance, December 31, 2015

 

$

(33.8

)

 

$

(3.3

)

 

$

(450.3

)

 

$

(487.4

)

Separation of AFI, net of tax (benefit) of $-, $-, ($39.2), and

   ($39.2)

 

 

(4.6

)

 

 

(0.4

)

 

 

65.0

 

 

 

60.0

 

Other comprehensive (loss) income before reclassifications, net of

   tax (benefit) of $ -, ($1.8), ($10.9), and ($12.8)

 

 

(33.2

)

 

 

3.0

 

 

 

20.2

 

 

 

(10.0

)

Amounts reclassified from accumulated other

   comprehensive income

 

 

-

 

 

 

4.5

 

 

 

29.1

 

 

 

33.6

 

Net current period other comprehensive (loss) income

 

 

(33.2

)

 

 

7.5

 

 

 

49.3

 

 

 

23.6

 

Balance, December 31, 2016

 

$

(71.6

)

 

$

3.8

 

 

$

(336.0

)

 

$

(403.8

)

 

(1)

Amounts are net of tax

Reclassification out of Accumulated Other Comprehensive Income

 

 

 

Amounts Reclassified from

AOCI

 

 

Affected Line Item in the

Consolidated Statement

of Earnings and

Comprehensive Income

 

 

2016

 

 

2015

 

 

 

Derivative Adjustments:

 

 

 

 

 

 

 

 

 

 

Natural gas commodity contracts

 

$

1.2

 

 

$

4.4

 

 

Cost of goods sold

Foreign exchange contracts - purchases

 

 

(0.2

)

 

 

(1.8

)

 

Cost of goods sold

Foreign exchange contracts - sales

 

 

(1.4

)

 

 

(3.8

)

 

Net sales

Interest rate swap contracts

 

 

8.3

 

 

 

0.8

 

 

Interest expense

Total income (loss) from continuing operations, before

     tax

 

 

7.9

 

 

 

(0.4

)

 

 

Tax impact

 

 

(2.8

)

 

 

0.1

 

 

Income tax expense

Total income (loss) from continuing operations, net of

     tax

 

 

5.1

 

 

 

(0.3

)

 

 

Total (loss) from discontinued operations, net of

     tax benefit of ($0.3) and ($1.3)

 

 

(0.6

)

 

 

(2.5

)

 

 

Total income (loss), net of tax

 

 

4.5

 

 

 

(2.8

)

 

 

 

 

 

 

 

 

 

 

 

 

 

Pension and Postretirement Adjustments:

 

 

 

 

 

 

 

 

 

 

Prior service cost amortization

 

 

0.6

 

 

 

0.2

 

 

Cost of goods sold

Prior service cost amortization

 

 

0.6

 

 

 

0.4

 

 

SG&A expense

Amortization of net actuarial loss

 

 

20.7

 

 

 

22.1

 

 

Cost of goods sold

Amortization of net actuarial loss

 

 

18.4

 

 

 

21.3

 

 

SG&A expense

Total expense from continuing operations, before tax

 

 

40.3

 

 

 

44.0

 

 

 

Tax impact

 

 

(14.1

)

 

 

(15.4

)

 

Income tax expense

Total expense from continuing operations, net of tax

 

 

26.2

 

 

 

28.6

 

 

 

Total expense from discontinued operations net of

     tax expense of $1.5 and $8.8

 

 

2.9

 

 

 

16.3

 

 

 

Total expense, net of tax

 

 

29.1

 

 

 

44.9

 

 

 

Total reclassifications for the period

 

$

33.6

 

 

$

42.1