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Accumulated Other Comprehensive Income/(Loss)
 9 Months Ended
Sep. 30, 2018
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Accumulated Other Comprehensive Income/(Loss)
Accumulated Other Comprehensive Income/(Loss)

The changes in Accumulated other comprehensive income/(loss) (AOCI), net of their related tax effects, for the nine months ended September 30, 2018 and 2017 are as follows:
(In millions)
Foreign currency translation adjustment
 
Pension and other employee benefits
 
Unrealized
holding gain/(loss) on available-for-sale debt securities
 
Accumulated other comprehensive income/(loss)
As of January 1, 2018
$
1,279.6

 
$
27.5

 
$
67.9

 
$
1,375.0

Current period change:
 
 
 
 
 
 
 
Other comprehensive loss before reclassifications
(679.2
)
 
—

 
—

 
(679.2
)
Amounts reclassified from AOCI
—

 
(1.5
)
 
(67.9
)
 
(69.4
)
Net current period other comprehensive loss
(679.2
)
 
(1.5
)
 
(67.9
)
 
(748.6
)
As of September 30, 2018
$
600.4

 
$
26.0

 
$
—

 
$
626.4



On January 1, 2018, the Company adopted a new standard related to accounting for investments in equity securities. Upon adoption, the Company reclassified unrealized holding gain on available-for-sale equity securities totaling $67.9 million to Retained earnings. For further information, refer to Note 2, Summary of Significant Accounting Policies, to these Unaudited Consolidated Financial Statements.

(In millions)
Foreign currency translation adjustment
 
Pension and other employee benefits
 
Unrealized holding loss on available-for-sale securities
 
Hedging activities
 
Accumulated other comprehensive (loss)/income
As of January 1, 2017
$
(1,505.4
)
 
$
(5.2
)
 
$
6.6

 
$
6.4

 
$
(1,497.6
)
Current period change:
 
 
 
 
 
 
 
 
 
Other comprehensive income before reclassifications
2,441.1

 
9.7

 
24.7

 
0.5

 
2,476.0

Amounts reclassified from AOCI
—

 
1.3

 
(4.4
)
 
(6.2
)
 
(9.3
)
Net current period other comprehensive income/(loss)
2,441.1

 
11.0

 
20.3

 
(5.7
)
 
2,466.7

As of September 30, 2017
$
935.7

 
$
5.8

 
$
26.9

 
$
0.7

 
$
969.1


Reclassifications from AOCI to net income during the three and nine months ended September 30, 2018 and  2017 were not material.