Accumulated Other Comprehensive Income (Loss)

3 Months Ended

Mar. 31, 2018

Equity [Abstract]

Accumulated Other Comprehensive Income (Loss)

Footnote 5 — Accumulated Other Comprehensive Income (Loss)

The following tables display the changes in accumulated other comprehensive income (loss) (“AOCI”) by component, net of tax, for the three months ended March 31, 2018 (in millions):

	Cumulative Translation Adjustment			Pension and Postretirement Costs			Derivative Financial Instruments			AOCI
Balance at December 31, 2017	$	(318.8	)	$	(385.5	)	$	(58.8	)	$	(763.1	)
Other comprehensive (loss) income before reclassifications		64.1			(19.2	)		(8.8	)		36.1
Amounts reclassified to earnings		—			2.9			12.4			15.3
Net current period other comprehensive income (loss)		64.1			(16.3	)		3.6			51.4
Balance at March 31, 2018	$	(254.7	)	$	(401.8	)	$	(55.2	)	$	(711.7	)

For the three months ended March 31, 2018 and 2017 reclassifications from AOCI to the results of operations for the Company’s pension and postretirement benefit plans were a pre-tax expense of $3.6 million and $4.2 million, respectively, and primarily represent the amortization of net actuarial losses (see Footnote 13). These costs are recorded in other (income) expense, net. For the three months ended March 31, 2018 and 2017, reclassifications from AOCI to the results of operations for the Company’s derivative financial instruments for effective cash flow hedges were pre-tax expense of $13.1 million and $0.3 million, respectively (see Footnote 12).

The income tax provision (benefit) allocated to the components of other comprehensive income (loss) (“OCI”) for the periods indicated are as follows (in millions):

	Three Months Ended March 31,
	2018			2017
Foreign currency translation adjustments	$	7.9		$	1.8
Unrecognized pension and postretirement costs		4.0			1.3
Derivative financial instruments		(0.2	)		(4.4	)
Income tax provision (benefit) related to OCI	$	11.7		$	(1.3	)