Changes in Accumulated Other Comprehensive Loss by Component

9 Months Ended

Sep. 30, 2021

Changes in Accumulated Other Comprehensive Loss by Component

Changes to accumulated other comprehensive loss by component are as follows:


(dollars in millions)	Three Months Ended September 30,
	2021			2020
Cumulative foreign currency translation
Balance at beginning of period	$	(44.6)		$	(80.5)
Other comprehensive (loss) income before reclassifications	(2.4)			15.7
Balance at end of period	(47.0)			(64.8)
Unrealized net (loss) gain on cash flow derivatives
Balance at beginning of period	(0.5)			(0.3)
Other comprehensive gain before reclassifications	0.5			1.0
Realized gains on derivatives reclassified to cost of products sold (net of income tax provision of $0.1 and $0.1 in 2021 and 2020, respectively)	(0.1)			(0.3)
Balance at end of period	(0.1)			0.4
Pension liability
Balance at beginning of period	(266.1)			(275.0)
Other comprehensive (loss) before reclassifications	—			(0.9)
Amounts reclassified from accumulated other comprehensive loss:(1)	3.9			3.8
Balance at end of period	(262.2)			(272.1)
Accumulated other comprehensive loss, end of period	$	(309.3)		$	(336.5)

(1) Amortization of pension items:
Actuarial losses	$	5.2	(2)	$	5.2	(2)
Prior year service cost	(0.1)		(2)	(0.1)		(2)
	5.1			5.1
Income tax benefit	(1.2)			(1.3)
Reclassification net of income tax benefit	$	3.9		$	3.8

(2)These accumulated other comprehensive loss components are included in the computation of net periodic pension cost. See Note 10 - Pensions for additional details.

Changes to accumulated other comprehensive loss by component are as follows:


(dollars in millions)	Nine Months Ended September 30,
	2021			2020
Cumulative foreign currency translation
Balance at beginning of period	$	(48.1)		$	(66.2)
Other comprehensive income before reclassifications	1.1			1.4
Balance at end of period	(47.0)			(64.8)
Unrealized net gain (loss) on cash flow derivatives
Balance at beginning of period	0.6			0.2
Other comprehensive (loss) gain before reclassifications	(1.4)			1.5
Realized losses (gains) on derivatives reclassified to cost of products sold (net of income tax (benefit) provision of $(0.2) and $0.4 in 2021 and 2020, respectively)	0.7			(1.3)
Balance at end of period	(0.1)			0.4
Pension liability
Balance at beginning of period	(273.7)			(282.3)
Other comprehensive (loss) before reclassifications	—			(0.9)
Amounts reclassified from accumulated other comprehensive loss:(1)	11.5			11.1
Balance at end of period	(262.2)			(272.1)
Accumulated other comprehensive loss, end of period	$	(309.3)		$	(336.5)
(1) Amortization of pension items:
Actuarial losses	$	15.6	(2)	$	15.1	(2)
Prior year service cost	(0.3)		(2)	(0.3)		(2)
	15.3			14.8
Income tax benefit	(3.8)			(3.7)
Reclassification net of income tax benefit	$	11.5		$	11.1

(2)These accumulated other comprehensive loss components are included in the computation of net periodic pension cost. See Note 10 - Pensions for additional details.