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Other Comprehensive Income (Loss)
 12 Months Ended
Dec. 31, 2012
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]  
Other Comprehensive Income (Loss)
Other Comprehensive Loss
The following tables present the pre-tax, tax, and after-tax components of Grace's other comprehensive loss for the years ended December 31, 2012, 2011, and 2010:
Year Ended December 31, 2012
(In millions)
Pre-Tax
Amount
 
Tax
Benefit/
(Expense)
 
After-Tax
Amount
Defined benefit pension and other postretirement plans:
 
 
 
 
 
Amortization of net prior service cost included in net periodic benefit cost
$
0.8

 
$
(0.3
)
 
$
0.5

Amortization of net deferred actuarial loss included in net periodic benefit cost
41.4

 
(14.2
)
 
27.2

Net deferred actuarial loss arising during period
(95.4
)
 
31.1

 
(64.3
)
Benefit plans, net
(53.2
)
 
16.6

 
(36.6
)
Currency translation adjustments
5.4

 
—

 
5.4

Gain from hedging activities
3.7

 
(1.3
)
 
2.4

Other comprehensive loss attributable to W. R. Grace & Co. shareholders
$
(44.1
)
 
$
15.3

 
$
(28.8
)

Year Ended December 31, 2011
(In millions)
Pre-Tax
Amount
 
Tax
Benefit/
(Expense)
 
After-Tax
Amount
Defined benefit pension and other postretirement plans:
 
 
 
 
 
Amortization of net prior service cost included in net periodic benefit cost
$
1.1

 
$
(0.4
)
 
$
0.7

Amortization of net deferred actuarial loss included in net periodic benefit cost
35.3

 
(12.1
)
 
23.2

Net prior service credit arising during period
0.4

 
(0.1
)
 
0.3

Net deferred actuarial loss arising during period
(107.5
)
 
36.6

 
(70.9
)
Benefit plans, net
(70.7
)
 
24.0

 
(46.7
)
Currency translation adjustments
(11.6
)
 
—

 
(11.6
)
Loss from hedging activities
(3.2
)
 
1.1

 
(2.1
)
Other comprehensive loss attributable to W. R. Grace & Co. shareholders
$
(85.5
)
 
$
25.1

 
$
(60.4
)

Year Ended December 31, 2010
(In millions)
Pre-Tax
Amount
 
Tax
Benefit/
(Expense)
 
After-Tax
Amount
Defined benefit pension and other postretirement plans:
 
 
 
 
 
Amortization of net prior service credit included in net periodic benefit cost
$
(2.9
)
 
$
1.0

 
$
(1.9
)
Amortization of net deferred actuarial loss included in net periodic benefit cost
35.8

 
(12.2
)
 
23.6

Net deferred actuarial loss arising during period
(55.2
)
 
18.7

 
(36.5
)
Benefit plans, net
(22.3
)
 
7.5

 
(14.8
)
Currency translation adjustments
12.2

 
—

 
12.2

Loss from hedging activities
(1.4
)
 
0.4

 
(1.0
)
Other comprehensive loss attributable to W. R. Grace & Co. shareholders
$
(11.5
)
 
$
7.9

 
$
(3.6
)

The following table presents the components of Grace's accumulated other comprehensive loss at December 31, 2012, 2011, and 2010:
Components of Accumulated Other Comprehensive Loss
(In millions)
December 31,
2012
 
2011
 
2010
Defined benefit pension and other postretirement plans:
 
 
 
 
 
Net prior service cost (net of tax)
$
(1.3
)
 
$
(1.8
)
 
$
(2.8
)
Net deferred actuarial loss (net of tax)
(640.5
)
 
(603.4
)
 
(555.7
)
Benefit plans, net
(641.8
)
 
(605.2
)
 
(558.5
)
Currency translation
35.6

 
30.2

 
41.8

Hedging activities, net of tax
(0.3
)
 
(2.7
)
 
(0.6
)
Unrealized loss on investment
(0.8
)
 
(0.8
)
 
(0.8
)
Accumulated other comprehensive loss
$
(607.3
)
 
$
(578.5
)
 
$
(518.1
)

Accumulated other comprehensive loss related to the defined benefit pension and other postretirement plans at December 31, 2012, 2011, and 2010, respectively, represents the accumulation of net deferred actuarial losses of $640.5 million, $603.4 million, and $555.7 million as well as net prior service costs of $1.3 million, $1.8 million, and $2.8 million. These amounts are net of tax and are amortized as a component of net periodic benefit cost.
Grace is a global enterprise operating in over 40 countries with local currency generally deemed to be the functional currency for accounting purposes. The currency translation amount represents the adjustments necessary to translate the balance sheets valued in local currencies to the U.S. dollar as of the end of each period presented, and to translate revenues and expenses at average exchange rates for each period presented.
See Note 8 for a discussion of hedging activities.