Accumulated Other Comprehensive Income (Loss)

3 Months Ended

Apr. 01, 2017

Equity [Abstract]

Accumulated Other Comprehensive Income (Loss)

Note 16: Accumulated Other Comprehensive Income (Loss)

The following is a summary of net changes in Accumulated OCI by component and net of tax for the three months ended April 1, 2017:

(Amounts in millions)	Foreign Currency Translation		Cash Flow Hedges		Defined Benefit Pension and Postretirement Plans		Total
Balance as of December 31, 2016	$	(217.7)	$	9.2	$	(290.0)	$	(498.5)
Other comprehensive income before reclassifications		38.1		6.1		–		44.2
Amounts reclassified from Accumulated OCI		–		(0.3)		4.2		3.9
Net other comprehensive income		38.1		5.8		4.2		48.1
Balance as of April 1, 2017	$	(179.6)	$	15.0	$	(285.8)	$	(450.4)

The following is a summary of net changes in Accumulated OCI by component and net of tax for the three months ended April 2, 2016:

(Amounts in millions)	Foreign Currency Translation		Cash Flow Hedges		Defined Benefit Pension and Postretirement Plans		Total
Balance as of January 2, 2016	$	(118.5)	$	0.7	$	(246.4)	$	(364.2)
Other comprehensive income before reclassifications		19.9		–		–		19.9
Amounts reclassified from Accumulated OCI		–		(0.1)		4.3		4.2
Net other comprehensive income (loss)		19.9		(0.1)		4.3		24.1
Balance as of April 2, 2016	$	(98.6)	$	0.6	$	(242.1)	$	(340.1)

The reclassifications out of Accumulated OCI for the three months ended April 1, 2017, and April 2, 2016, are as follows:

	Amounts Reclassified from Accumulated OCI Three Months Ended
Details about Accumulated OCI Components	April 1, 2017		April 2, 2016		Statement of Earnings Presentation
(Amounts in millions)
Gains on cash flow hedges:
Treasury locks	$	0.3	$	0.1	Interest expense
Income tax expense		–		–	Income tax expense
Net of tax		0.3		0.1
Amortization of net unrecognized losses and prior service credits		(6.5)		(6.8)	See footnote below*
Income tax benefit		2.3		2.5	Income tax expense
Net of tax		(4.2)		(4.3)
Total reclassifications for the period, net of tax	$	(3.9)	$	(4.2)

* These Accumulated OCI components are included in the computation of net periodic pension and postretirement health care costs; see Note 10 and Note 11 for further information.