ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) AND OTHER COMPREHENSIVE INCOME (LOSS)

12 Months Ended

Dec. 31, 2013

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) AND OTHER COMPREHENSIVE INCOME

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) AND OTHER COMPREHENSIVE INCOME (LOSS)

13. ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) AND OTHER COMPREHENSIVE INCOME (LOSS)

Accumulated other comprehensive income (loss) includes foreign currency translation of assets and liabilities of foreign subsidiaries, effects of exchange rate changes on intercompany balances of a long-term nature, unrealized gains and losses on derivative financial instruments designated as cash flow hedges and adjustments to pension liabilities. Amounts recorded in accumulated other comprehensive income (loss), net of tax, as of December 31, 2013 and December 31, 2012, and changes within the period are as follows:

(In millions)	Accrued Pension Benefit Liabilities			Foreign Currency Items			Equity Investees Other Comprehensive Income			Derivative Cash Flow Hedges			Accumulated Other Comprehensive Income (Loss)
Balance at December 31, 2011	$	(40.3	)	$	22.6		$	-		$	(0.5	)	$	(18.2	)
Other comprehensive income (loss) before reclassifications		(9.3	)		4.1			-			-			(5.2	)
Amounts reclassified from accumulated other comprehensive income (loss)		1.0			-			-			0.5			1.5
Net current period other comprehensive income (loss)		(8.3	)		4.1			-			0.5			(3.7	)
Balance at December 31, 2012	$	(48.6	)	$	26.7		$	-		$	-		$	(21.9	)
Other comprehensive income (loss) before reclassifications		118.8			(20.0	)		(0.9	)		-			97.9
Amounts reclassified from accumulated other comprehensive income (loss)		(9.7	)		-			-			-			(9.7	)
Net current period other comprehensive income (loss)		109.1			(20.0	)		(0.9	)		-			88.2
Balance at December 31, 2013	$	60.5		$	6.7		$	(0.9	)	$	-		$	66.3

Other comprehensive income (loss) is derived from adjustments to reflect the unrealized gain (loss) on derivatives, changes in pension liabilities adjustment and changes in foreign currency translation adjustments. The components of amounts reclassified from other comprehensive income (loss) to the consolidated statements of income for the years ended December 31, 2013, 2012 and 2011 are as follows:

	Year Ended December 31,
									Affected Line Items on the Consolidated Statements of Income
(In millions)	2013			2012		2011
Details about other comprehensive income components:
Pension liability adjustments, net of tax
Curtailment gain (1)	$	(15.5	)	$	-	$	-		Transaction related costs and other, net
Amortization of actuarial loss (gain) (1)		(0.2	)		1.6		1.5
Pre-tax amount		(15.7	)		1.6		1.5
Tax expense (benefit)		(6.0	)		0.6		0.5		Provision for income taxes
Pension liability adjustment, net of tax	$	(9.7	)	$	1.0	$	1.0
Unrealized gain (loss) on derivatives:
Commodity hedge contracts	$	-		$	0.7	$	(1.1	)	Cost of sales
Tax expense (benefit)		-			0.2		(0.4	)	Provision for income taxes
Change in unrealized gain (loss) on derivatives, net of tax	$	-		$	0.5	$	(0.7	)
Reclassifications for the period	$	(15.7	)	$	2.3	$	0.4
Tax expense (benefit)		(6.0	)		0.8		0.1
Reclassifications for the period, net of tax	$	(9.7	)	$	1.5	$	0.3

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These other comprehensive income components are included in the computation of net periodic benefit income (expense). See Note 12 to the consolidated financial statements for additional details.