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Accumulated Other Comprehensive Loss (Tables)
 3 Months Ended
Mar. 31, 2020
Equity [Abstract]  
Schedule of Accumulated Other Comprehensive Income (Loss)
The following table presents the changes in the accumulated balances for each component of AOCI for the periods presented (in millions of dollars):
 
 
Quarter Ended
 
 
March 31,
 
 
2020
 
2019
Defined Benefit Pension Plan and Salaried VEBA:
 
 
 
 
Beginning balance
 
$
(33.2
)
 
$
(35.6
)
Amortization of net actuarial loss1
 
0.1

 
0.1

Amortization of prior service cost1
 
1.2

 
1.4

Less: income tax expense2
 
(0.3
)
 
(0.4
)
Net amortization reclassified from AOCI to Net income
 
1.0

 
1.1

Other comprehensive income, net of tax
 
1.1

 
1.1

Ending balance
 
$
(32.1
)
 
$
(34.5
)
 
 
 
 
 
Available for Sale Securities:
 
 
 
 
Beginning balance
 
$
0.3

 
$
0.3

Unrealized gain on available for sale securities
 
1.3

 
1.0

Less: income tax expense
 
(0.3
)
 
(0.3
)
Net unrealized gain on available for sale securities
 
1.0

 
0.7

Reclassification of unrealized gain upon sale of available for sale securities3
 
(1.5
)
 
(1.2
)
Less: income tax benefit2
 
0.3

 
0.3

Net gain reclassified from AOCI to Net income
 
(1.2
)
 
(0.9
)
Other comprehensive loss, net of tax
 
(0.2
)
 
(0.2
)
Ending balance
 
$
0.1

 
$
0.1

 
 
 
 
 
 
 
Quarter Ended
 
 
March 31,
 
 
2020
 
2019
Cash Flow Hedges:
 
 
 
 
Beginning balance
 
$
(5.6
)
 
$
(13.4
)
Unrealized (loss) gain on cash flow hedges
 
(27.9
)
 
7.4

Less: income tax benefit (expense)
 
6.8

 
(1.8
)
Net unrealized (loss) gain on cash flow hedges
 
(21.1
)
 
5.6

Reclassification of unrealized loss upon settlement of cash flow hedges4
 
7.0

 
4.2

Less: income tax expense2
 
(1.8
)
 
(1.0
)
Net loss reclassified from AOCI to Net income
 
5.2

 
3.2

Other comprehensive (loss) income, net of tax
 
(15.9
)
 
8.8

Ending balance
 
$
(21.5
)
 
$
(4.6
)
 
 
 
 
 
Fair Value Hedges:
 
 
 
 
Beginning balance
 
$
—

 
$
—

Unrealized loss on fair value hedges
 
(0.8
)
 
—

Less: income tax benefit
 
0.2

 
—

Net unrealized loss on fair value hedges
 
(0.6
)
 
—

Excluded component amortized from OCI to Net income5
 
0.2

 
—

Less: income tax expense2
 
(0.1
)
 
—

Net loss reclassified from AOCI to Net income
 
0.1

 
—

Other comprehensive loss, net of tax
 
(0.5
)
 
—

Ending balance
 
$
(0.5
)
 
$
—

 
 
 
 
 
Foreign Currency Translation:
 
 
 
 
Beginning balance
 
$
(0.1
)
 
$
(0.1
)
Other comprehensive income, net of tax
 
—

 
—

Ending balance
 
$
(0.1
)
 
$
(0.1
)
 
 
 
 
 
Total AOCI ending balance
 
$
(54.1
)
 
$
(39.1
)
____________________
1 
Amounts amortized out of AOCI relating to Salaried VEBA adjustments were included within Other (expense) income, net, 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 (expense) income, net. We use the specific identification method to determine the amount reclassified out of AOCI.
4 
Amounts reclassified out of AOCI relating to cash flow hedges were included as a component of COGS. As of March 31, 2020, we estimate a net mark-to-market loss before tax of $18.1 million in AOCI will be reclassified into Net income within the next 12 months.
5 
Amounts reclassified out of AOCI relating to fair value hedges were included as a component of depreciation expense. As of March 31, 2020, we estimate a net mark-to-market loss before tax of $0.6 million in AOCI will be reclassified into Net income within the next 12 months.