Accumulated Other Comprehensive (Loss) Income

3 Months Ended

Mar. 31, 2017

Equity [Abstract]

Accumulated Other Comprehensive (Loss) Income

Accumulated Other Comprehensive (Loss) Income

The following table presents the changes in the accumulated balances for each component of Accumulated other comprehensive (loss) income ("AOCI") for each period presented (in millions of dollars):

	Quarter Ended
	March 31,
	2017			2016
Salaried VEBA and defined benefit pension plan:
Beginning balance	$	(37.1	)	$	(31.3	)
Amortization of net actuarial loss1	0.2			0.1
Amortization of prior service cost1	1.2			1.0
Less: income tax expense2	(0.5		)	(0.4		)
Net amortization reclassified from AOCI to Net income	0.9			0.7
Translation impact on Canadian pension plan AOCI balance	—			0.1
Other comprehensive income, net of tax	0.9			0.8
Ending balance	$	(36.2	)	$	(30.5	)
Available for sale securities:
Beginning balance	$	0.8		$	(0.1	)
Unrealized gain on available for sale securities	1.1			—
Less: income tax expense	(0.4		)	—
Net unrealized gain on available for sale securities	0.7			—
Reclassification of unrealized gain upon sale of available for sale securities3	(0.9		)	—
Less: income tax benefit2	0.3			—
Net unrealized gain reclassified from AOCI to Net income	(0.6		)	—
Other comprehensive income, net of tax	0.1			—
Ending balance	$	0.9		$	(0.1	)
Foreign currency cash flow hedges:
Beginning balance	$	(0.1	)	$	(0.2	)
Unrealized gain on foreign currency cash flow hedges	—			0.2
Less: income tax benefit	—			(0.1		)
Net unrealized gain on foreign currency cash flow hedges	—			0.1
Unrealized loss reclassified from AOCI to Net income4	0.2			—
Less: income tax expense2	(0.1		)	—
Net unrealized loss reclassified from AOCI to Net income	0.1			—
Other comprehensive income, net of tax	0.1			0.1
Ending balance	$	—		$	(0.1	)

	Quarter Ended
	March 31,
	2017			2016
Alloy Hedges:
Beginning balance	$	(0.1	)	$	—
Unrealized gain on Alloy Hedges	0.3			—
Less: income tax expense	(0.1		)	—
Net unrealized gain on Alloy Hedges	0.2			—
Other comprehensive income, net of tax	0.2			—
Ending balance	$	0.1		$	—
Foreign currency translation:
Beginning balance	$	(0.2	)	$	(0.1	)
(Loss) gain on foreign currency translation	—			—
Less: income tax (expense) benefit	—			—
Other comprehensive (loss) income, net of tax	—			—
Ending balance	$	(0.2	)	$	(0.1	)
Total AOCI ending balance	$	(35.4	)	$	(30.8	)

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¹  Amounts reclassified out of AOCI relating to Salaried VEBA adjustments were included as a component of Net periodic postretirement benefit cost relating to Salaried VEBA.

²  Income tax amounts reclassified out of AOCI were included as a component of Income tax provision.

³  Amounts reclassified out of AOCI relating to sales of available for sale securities were included as a component of Other income, net. We use the specific identification method to determine the amount reclassified out of AOCI.

⁴  Amounts reclassified out of AOCI relating to foreign currency cash flow hedges were related to equipment purchases placed into service during the period and will be included as a component of Depreciation and amortization over the life of the related assets acquired.