Annual report pursuant to Section 13 and 15(d)

Comprehensive Income

v3.3.1.900
Comprehensive Income
 12 Months Ended
Dec. 31, 2015
Comprehensive Income [Abstract]  
Comprehensive Income

The following table presents reclassification adjustments out of Accumulated other comprehensive loss during the years ended December 31, 2015, 2014 and 2013:
(in millions)
 
Twelve Months Ended
 
 
Details about Accumulated other comprehensive loss components
 
December 31, 2015
 
December 31, 2014
 
December 31, 2013
 
Affected line item in the statement where net income is presented
Amount of gain (loss) reclassified into earnings on foreign currency:
 
 
 
 
 
 
 
 
Foreign currency cumulative translation adjustment
 
$
—

 
$
(1.2
)
 
$
—

 
Gain on disposal of discontinued operations, net of tax
Foreign currency cumulative translation adjustment
 
—

 
—

 
0.7

 
Selling, general and administrative expense
 
 
—

 
(1.2
)
 
0.7

 
Total before tax
 
 
—

 
0.5

 
—

 
Tax benefit (A)
 
 
$
—

 
$
(0.7
)
 
$
0.7

 
Net of tax
 
 
 
 
 
 
 
 
 
Amortization of defined benefit items:
 
 
 
 
 
 
 
 
Prior service credits
 
$
1.3

 
$
2.2

 
$
7.0

 
(B) 
Net actuarial losses
 
(103.8
)
 
(43.3
)
 
(23.4
)
 
(B) 
 
 
(102.5
)
 
(41.1
)
 
(16.4
)
 
Total before tax
 
 
39.7

 
16.7

 
0.2

 
Tax benefit (A)
 
 
$
(62.8
)
 
$
(24.4
)
 
$
(16.2
)
 
Net of tax
 
 
 
 
 
 
 
 
 
Amount of gain (loss) reclassified into earnings on derivative contracts:
 
 
 
 
 
 
 
 
Interest rate contracts
 
$
(0.1
)
 
$
(0.1
)
 
$
1.4

 
Interest expense
Foreign exchange contracts
 
12.2

 
(0.2
)
 
(3.0
)
 
Cost of sales
Commodity contracts
 
0.7

 
(1.9
)
 
(2.7
)
 
Cost of sales
 
 
12.8

 
(2.2
)
 
(4.3
)
 
Total before tax
 
 
(4.0
)
 
0.8

 
(0.4
)
 
Tax (provision) benefit (A)
 
 
$
8.8

 
$
(1.4
)
 
$
(4.7
)
 
Net of tax


(A) Pre-tax and after-tax amounts are substantially the same for 2013 as the Company maintained a tax valuation allowance for these items until its reversal at December 31, 2013. See Note 12 – Income Taxes for additional details.

(B) These Accumulated other comprehensive income (loss) components are included in the computation of net pension and other benefit costs. See Note 17 – Postretirement Benefits for additional details.