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Stockholders' Equity (Tables)
12 Months Ended
Dec. 31, 2022
Equity [Abstract]  
Components of Changes in Accumulated Other Comprehensive Income (AOCI)

Changes in AOCI, net of taxes, by component follows (dollars in millions). Amounts in parentheses indicate losses.

 

 

 

Foreign
Currency
Translation
Adjustments

 

 

Unrealized
Loss on
Foreign Exchange
Contracts

 

 

Unrealized
(Loss) Gain on
Marketable
Debt Securities

 

 

Unfunded
Employee
Benefit
Obligations

 

 

Total

 

Balance at January 1, 2021

 

$

(0.4

)

 

$

(0.2

)

 

$

0.3

 

 

$

(144.2

)

 

$

(144.5

)

Other comprehensive income before reclassifications

 

 

 

 

 

 

 

 

(0.5

)

 

 

59.4

 

 

 

58.9

 

Amounts reclassified from AOCI

 

 

0.4

 

 

 

 

 

 

 

 

 

10.0

 

 

 

10.4

 

Net current-period other comprehensive income (loss)

 

 

0.4

 

 

 

 

 

 

(0.5

)

 

 

69.4

 

 

 

69.3

 

Balance at December 31, 2021

 

$

 

 

$

(0.2

)

 

$

(0.2

)

 

$

(74.8

)

 

$

(75.2

)

Other comprehensive income before reclassifications

 

 

 

 

 

 

 

 

(1.7

)

 

 

(30.2

)

 

 

(31.9

)

Amounts reclassified from AOCI

 

 

 

 

 

 

 

 

 

 

 

4.7

 

 

 

4.7

 

Net current-period other comprehensive income (loss)

 

 

 

 

 

 

 

 

(1.7

)

 

 

(25.5

)

 

 

(27.2

)

Balance at December 31, 2022

 

$

 

 

$

(0.2

)

 

$

(1.9

)

 

$

(100.3

)

 

$

(102.4

)

 

 

Reclassifications Out of Accumulated Other Comprehensive Income (AOCI)

The following table presents information about reclassifications out of AOCI (dollars in millions). Amounts in parentheses indicate expenses in the Consolidated Statements of Income.

 

 

 

Amounts Reclassified from AOCI
Year Ended December 31,

 

 

 

Details about AOCI Components

 

2022

 

 

2021

 

 

 

Unfunded employee benefit obligations (a)

 

 

 

 

 

 

 

 

Amortization of prior service costs

 

$

(3.2

)

 

$

(3.4

)

 

 

Amortization of actuarial gains / (losses)

 

 

(3.0

)

 

 

(9.9

)

 

 

 

 

 

(6.2

)

 

 

(13.3

)

 

Total before tax

 

 

 

1.5

 

 

 

3.3

 

 

Tax benefit

 

 

$

(4.7

)

 

$

(10.0

)

 

Net of tax

 

(a)
These AOCI components are included in the computation of net pension and postretirement benefit costs. See Note 13, Employee Benefit Plans and Other Postretirement Benefits, for additional information.