Accumulated Other Comprehensive Income (Loss) (Tables)

12 Months Ended

Dec. 31, 2013

Accumulated Other Comprehensive Income (Loss)

Schedule of changes in Accumulated other comprehensive loss by component

 The changes in Accumulated other comprehensive loss by component for the year ended December 31, 2013, were as follows:

(in millions)	Accrued post-retirement benefit liability(1)(2)			Foreign currency translation			Hedging activities(3)			Total
Balance at December 31, 2012	$	(34.1	)	$	(2.7	)	$	1.3		$	(35.5	)
Other comprehensive income (loss) before reclassifications		2.8			2.6			—			5.4
Amounts reclassified from accumulated other comprehensive loss		5.9			(4.2	)		(0.5	)		1.2
Income tax expense		(2.8	)		—			0.2			(2.6	)
Net other comprehensive income (loss)		5.9			(1.6	)		(0.3	)		4.0
Balance at December 31, 2013	$	(28.2	)	$	(4.3	)	$	1.0		$	(31.5	)

        The changes in Accumulated other comprehensive loss by component for the year ended December 31, 2012, were as follows:

(in millions)	Accrued post-retirement benefit liability(1)			Foreign currency translation			Hedging activities(2)			Total
Balance at December 31, 2011	$	(40.7	)	$	(5.9	)	$	1.6		$	(45.0	)
Other comprehensive income (loss) before reclassifications		5.1			3.2			—			8.3
Amounts reclassified from accumulated other comprehensive loss		5.3			—			(0.5	)		4.8
Income tax expense		(3.8	)		—			0.2			(3.6	)
Net other comprehensive income (loss)		6.6			3.2			(0.3	)		9.5
Balance at December 31, 2012	$	(34.1	)	$	(2.7	)	$	1.3		$	(35.5	)

(1)

Current period amounts related to accrued post-retirement benefit liability are related to amortization of unrecognized actuarial gains and losses which is included in net periodic benefit cost for pension and other post-retirement welfare plans. See Note 15.

(2)

Amounts reclassified from accumulated other comprehensive loss related to accrued post-retirement liabilities in 2013 include $7.3 million in settlement costs related to the transfer of pension obligations related to employees of the Transportation Products business, $0.8 million in curtailment charges related to the curtailment of future service cost for employees of the Transportation Products business, and $0.3 million in settlement costs related to the transfer of post-retirement medical benefit obligations related to employees of the Transportation Products business, all of which were recognized within income (loss) from discontinued operations.

(3)

Current period activity related to foreign currency translation includes $4.2 million of cumulative translation adjustment related to the Canadian operations of the Transportation Products business which was recognized into income (loss) from discontinued operations upon sale of the Transportation Products business on December 31, 2013.

(3)

Current period amounts related to hedging activities are a reduction to interest expense. On June 15, 2005, the Company entered into treasury lock contracts with a notional amount of $150.0 million to hedge the cash flow variability on forecasted debt interest payments associated with changes in interest rates. These contracts were designated as cash flow hedges and were deemed effective at the origination date. On August 15, 2006, the Company terminated the treasury lock contracts resulting in a gain of $5.6 million ($3.5 million, net of tax), which was deferred in accumulated other comprehensive income and is being amortized to reduce interest expense until August 2016, the term of the interest payments related to the $150.0 million in notes issued on August 18, 2006. At December 31, 2013, the Company had a remaining unamortized gain of $1.5 million ($1.0 million, net of tax) which is reflected in Accumulated other comprehensive income on the Company's Consolidated Balance Sheets.