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ACCUMULATED OTHER COMPREHENSIVE LOSS
12 Months Ended
Dec. 31, 2015
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]  
ACCUMULATED OTHER COMPREHENSIVE LOSS
ACCUMULATED OTHER COMPREHENSIVE LOSS
The components of accumulated other comprehensive loss as of December 31, 2015, 2014 and 2013 were as follows:
 
 
Foreign
Currency
Translation
Adjustment
 
Unrealized
Gain on
Equity
Investment
 
Net
Unrealized
Holding
Gain
on Available-
For-Sale
Equity
Securities
 
Net
Unrealized
Holding
Loss
on Available-
For-Sale
Debt
Securities
 
Pension
Adjustment
 
Total
Balance, January 1, 2013
 
$
(119.5
)
 
$

 
$
0.4

 
$

 
$
(0.3
)
 
$
(119.4
)
Foreign currency translation adjustment
 
(50.8
)
 

 

 

 

 
(50.8
)
Net unrealized holding gain on available-for-sale equity securities
 

 

 
3.6

 

 

 
3.6

Reclassification to net income (loss)(1)
 

 

 
(4.0
)
 

 

 
(4.0
)
Pension adjustment, net of tax(2)
 

 

 

 

 
37.8

 
37.8

Balance, December 31, 2013
 
(170.3
)
 

 

 

 
37.5

 
(132.8
)
Foreign currency translation adjustment
 
(716.2
)
 

 

 

 

 
(716.2
)
Unrealized gain on equity method investment, net of tax
 

 
51.3

 

 

 

 
51.3

Reclassification to net income (loss)(1)
 

 
(51.3
)
 

 

 

 
(51.3
)
Net unrealized holding gain on available-for-sale equity securities, net of tax
 

 

 
1.8

 

 

 
1.8

Reclassification to net income (loss)(1)
 

 

 
(1.8
)
 

 

 
(1.8
)
Pension adjustment, net of tax(2)
 

 

 

 

 
(66.9
)
 
(66.9
)
Balance, December 31, 2014
 
(886.5
)
 

 

 

 
(29.4
)
 
(915.9
)
Foreign currency translation adjustment
 
(642.9
)
 

 

 

 

 
(642.9
)
Pension adjustment, net of tax(2)
 

 

 

 

 
17.2

 
17.2

Balance, December 31, 2015
 
$
(1,529.4
)
 
$

 
$

 
$

 
$
(12.2
)
 
$
(1,541.6
)
____________________________________
(1)
Included in gain on investments, net.
(2)
Reflects changes in defined benefit obligations and related plan assets of the Company’s defined benefit pension plans and the U.S. postretirement benefit plan (as described in Note 14).
Income taxes are not provided for foreign currency translation adjustments arising on the translation of the Company’s operations having a functional currency other than the U.S. dollar. Income taxes allocated to reclassification adjustments were not material.