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Accumulated Other Comprehensive Income (Loss)
9 Months Ended
Sep. 30, 2023
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Accumulated Other Comprehensive Income (Loss)
17.
Accumulated Other Comprehensive Income (Loss)

Changes in accumulated other comprehensive income (loss) by component were as follows (in millions):

 

 

Three Months Ended September 30, 2023

 

 

 

Employee Pension and
Postretirement
Benefits, Net of Tax

 

 

Cumulative
Translation
Adjustments

 

 

Derivative
Instruments,
Net of Tax

 

 

Accumulated Other
Comprehensive
Income (Loss)

 

Balance at beginning of period

 

$

30.3

 

 

$

(116.7

)

 

$

3.2

 

 

$

(83.2

)

Other comprehensive income (loss) before reclassifications

 

 

 

 

 

(24.3

)

 

 

(0.9

)

 

 

(25.2

)

Amounts reclassified from accumulated other comprehensive income (loss)

 

 

(0.4

)

 

 

1.9

 

 

 

(3.0

)

 

 

(1.5

)

Net current period other comprehensive income (loss)

 

 

(0.4

)

 

 

(22.4

)

 

 

(3.9

)

 

 

(26.7

)

Balance at end of period

 

$

29.9

 

 

$

(139.1

)

 

$

(0.7

)

 

$

(109.9

)

 

 

 

Three Months Ended September 30, 2022

 

 

 

Employee Pension and
Postretirement
Benefits, Net of Tax

 

 

Cumulative
Translation
Adjustments

 

 

Derivative
Instruments,
Net of Tax

 

 

Accumulated Other
Comprehensive
Income (Loss)

 

Balance at beginning of period

 

$

(24.8

)

 

$

(145.6

)

 

$

7.4

 

 

$

(163.0

)

Other comprehensive income (loss) before reclassifications

 

 

 

 

 

(40.8

)

 

 

5.8

 

 

 

(35.0

)

Amounts reclassified from accumulated other comprehensive income (loss)

 

 

0.4

 

 

 

4.6

 

 

 

 

 

 

5.0

 

Net current period other comprehensive income (loss)

 

 

0.4

 

 

 

(36.2

)

 

 

5.8

 

 

 

(30.0

)

Balance at end of period

 

$

(24.4

)

 

$

(181.8

)

 

$

13.2

 

 

$

(193.0

)

 

 

 

Nine Months Ended September 30, 2023

 

 

 

Employee Pension and
Postretirement
Benefits, Net of Tax

 

 

Cumulative
Translation
Adjustments

 

 

Derivative
Instruments,
Net of Tax

 

 

Accumulated Other
Comprehensive
Income (Loss)

 

Balance at beginning of period

 

$

31.1

 

 

$

(131.6

)

 

$

8.2

 

 

$

(92.3

)

Other comprehensive income (loss) before reclassifications

 

 

 

 

 

(10.4

)

 

 

(0.8

)

 

 

(11.2

)

Amounts reclassified from accumulated other comprehensive income (loss)

 

 

(1.2

)

 

 

2.9

 

 

 

(8.1

)

 

 

(6.4

)

Net current period other comprehensive income (loss)

 

 

(1.2

)

 

 

(7.5

)

 

 

(8.9

)

 

 

(17.6

)

Balance at end of period

 

$

29.9

 

 

$

(139.1

)

 

$

(0.7

)

 

$

(109.9

)

 

 

 

Nine Months Ended September 30, 2022

 

 

 

Employee Pension and
Postretirement
Benefits, Net of Tax

 

 

Cumulative
Translation
Adjustments

 

 

Derivative
Instruments,
Net of Tax

 

 

Accumulated Other
Comprehensive
Income (Loss)

 

Balance at beginning of period

 

$

(25.6

)

 

$

(105.2

)

 

$

2.2

 

 

$

(128.6

)

Other comprehensive income (loss) before reclassifications

 

 

 

 

 

(81.2

)

 

 

11.2

 

 

 

(70.0

)

Amounts reclassified from accumulated other comprehensive income (loss)

 

 

1.2

 

 

 

4.6

 

 

 

(0.2

)

 

 

5.6

 

Net current period other comprehensive income (loss)

 

 

1.2

 

 

 

(76.6

)

 

 

11.0

 

 

 

(64.4

)

Balance at end of period

 

$

(24.4

)

 

$

(181.8

)

 

$

13.2

 

 

$

(193.0

)

Reclassifications out of accumulated other comprehensive income (loss) included in the computation of net periodic pension and postretirement benefit cost (See Note 5 of the Notes to Condensed Consolidated Financial Statements for additional details regarding employee benefit plans) were as follows (in millions):

 

 

Classification of
Income (Expense)

 

Three Months Ended
September 30,

 

 

Nine Months Ended
September 30,

 

 

 

 

 

2023

 

 

2022

 

 

2023

 

 

2022

 

Amortization of employee pension and postretirement benefits items

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Prior service costs

 

Miscellaneous, net

 

$

 

 

$

0.1

 

 

$

0.3

 

 

$

0.5

 

Actuarial losses

 

Miscellaneous, net

 

 

(0.6

)

 

 

0.4

 

 

 

(1.9

)

 

 

1.0

 

Total before tax

 

 

 

 

(0.6

)

 

 

0.5

 

 

 

(1.6

)

 

 

1.5

 

Tax (expense) benefit

 

 

 

 

0.2

 

 

 

(0.1

)

 

 

0.4

 

 

 

(0.3

)

Net of tax

 

 

 

$

(0.4

)

 

$

0.4

 

 

$

(1.2

)

 

$

1.2