Accumulated Other Comprehensive Loss

6 Months Ended

Jun. 30, 2025

The following table presents the changes in the components of accumulated other comprehensive income ("AOCI") (loss), net of tax, for the six months ended June 30, 2025:


($ in millions)	Derivatives		Change in equity affiliate investment AOCI		Defined benefit pension and other postretirement plans		Foreign currency translation		Total
Balance, December 31, 2024	$	(2.5)	$	2.5	$	(9.8)	$	(248.3)	$	(258.1)
Other comprehensive income (loss) before reclassifications	4.7		0.2		(0.9)		165.3		169.3
Amounts reclassified out from accumulated other comprehensive income (loss)	0.3		—		(0.2)		—		0.1
Other comprehensive income (loss), net of tax	5.0		0.2		(1.1)		165.3		169.4
Balance, June 30, 2025	$	2.5	$	2.7	$	(10.9)	$	(83.0)	$	(88.7)

The following table presents the changes in the components of accumulated other comprehensive income ("AOCI") (loss), net of tax, for the six months ended June 30, 2024:


($ in millions)	Derivatives		Change in equity affiliate investment AOCI		Defined benefit pension and other postretirement plans		Foreign currency translation		Total
Balance, December 31, 2023	$	—	$	2.3	$	(10.1)	$	(136.0)	$	(143.8)
Other comprehensive (loss) income before reclassifications	(6.3)		(0.2)		—		(68.0)		(74.5)
Amounts reclassified out from accumulated other comprehensive income (loss)	1.8		—		(0.4)		—		1.4
Other comprehensive (loss) income, net of tax	(4.5)		(0.2)		(0.4)		(68.0)		(73.1)
Balance, June 30, 2024	$	(4.5)	$	2.1	$	(10.5)	$	(204.0)	$	(216.9)

A summary of the reclassifications out from accumulated other comprehensive loss is presented in the following table:


($ in millions)	Three Months Ended June 30,				Six Months Ended June 30,
Detail of components	2025		2024		2025		2024		Location on Statement of Income
(Losses) gains on derivatives:
Foreign currency contracts	$	(0.3)	$	0.1	$	(0.1)	$	0.2	Net sales
Foreign currency contracts	0.5		(1.8)		(0.3)		(3.4)		Cost of goods and services sold
Foreign currency contracts	—		1.0		—		1.0		Other expense (income)
Forward treasury locks	(0.1)		—		(0.1)		(0.1)		Interest expense
Total before tax	0.1		(0.7)		(0.5)		(2.3)
Tax benefit	—		0.1		0.2		0.5
Net of tax	$	0.1	$	(0.6)	$	(0.3)	$	(1.8)
Amortization of defined benefit pension and other postretirement plans:


Actuarial gains	$	0.2	$	0.2	$	0.3	$	0.5	(a)


Total before tax	0.2		0.2		0.3		0.5
Tax expense	(0.1)		—		(0.1)		(0.1)
Net of tax	$	0.1	$	0.2	$	0.2	$	0.4
Total reclassifications for the period, net of tax	$	0.2	$	(0.4)	$	(0.1)	$	(1.4)

(a) This component is included in the computation of net periodic benefit cost.