Accumulated Other Comprehensive (Loss) Income (Tables)

12 Months Ended

Dec. 31, 2015

The following table shows the changes in the components of OCI, net of tax (in millions):


	Foreign Currency Translation			Cash Flow Hedges			Unrealized Gains on Securities			Defined Benefit Plan Items
Balance December 31, 2014	$	111.8		$	70.1		$	(0.4	)	$	(143.4	)
OCI before reclassifications		(305.2	)		52.7			(0.2	)		(30.6	)
Reclassifications		–			(93.0	)		–			9.2

Balance December 31, 2015	$	(193.4	)	$	29.8		$	(0.6	)	$	(164.8	)

The following table shows the reclassification adjustments from OCI (in millions):


	Amount of Gain / (Loss) Reclassified from OCI									Location on Statement of Earnings
	For the Years Ended December 31,
Component of OCI	2015			2014			2013
Cash flow hedges
Foreign exchange forward contracts	$	122.3		$	33.3		$	8.0		Cost of products sold
Foreign exchange options		–			–			(0.2	)	Cost of products sold
Forward starting interest rate swaps		(1.3	)		–			–		Interest expense

		121.0			33.3			7.8		Total before tax
		28.0			14.4			3.4		Provision for income taxes

	$	93.0		$	18.9		$	4.4		Net of tax

Investments
Realized gains on securities	$	–		$	0.4		$	–		Interest income

		–			0.4			–		Total before tax
		–			–			–		Provision for income taxes

	$	–		$	0.4		$	–		Net of tax

Defined benefit plans
Prior service cost	$	5.6		$	3.9		$	3.9		*
Unrecognized actuarial (loss)		(20.1	)		(11.1	)		(16.6	)	*

		(14.5	)		(7.2	)		(12.7	)	Total before tax
		(5.3	)		(3.0	)		(4.8	)	Provision for income taxes

	$	(9.2	)	$	(4.2	)	$	(7.9	)	Net of tax

Total reclassifications	$	83.8		$	15.1		$	(3.5	)	Net of tax

* These OCI components are included in the computation of net periodic pension expense (see Note 15).

The following table shows the tax effects on each component of OCI recognized in our consolidated statements of comprehensive income (in millions):


	Before Tax									Tax									Net of Tax
For the Years Ended December 31,	2015			2014			2013			2015			2014			2013			2015			2014			2013
Foreign currency cumulative translation adjustments	$	(305.2	)	$	(223.1	)	$	(35.0	)	$	–		$	–		$	–		$	(305.2	)	$	(223.1	)	$	(35.0	)
Unrealized cash flow hedge gains		59.1			60.5			63.6			6.4			4.6			30.2			52.7			55.9			33.4
Reclassification adjustments on foreign currency hedges		(121.0	)		(33.3	)		(7.8	)		(28.0	)		(14.4	)		(3.4	)		(93.0	)		(18.9	)		(4.4	)
Reclassification adjustments on securities		–			(0.4	)		–			–			–			–			–			(0.4	)		–
Unrealized gains/(losses) on securities		(0.2	)		(0.5	)		0.1			–			–			–			(0.2	)		(0.5	)		0.1
Adjustments to prior service cost and unrecognized actuarial assumptions		(25.0	)		(104.8	)		50.3			(3.6	)		(29.0	)		11.8			(21.4	)		(75.8	)		38.5

Total Other Comprehensive (Loss) Income	$	(392.3	)	$	(301.6	)	$	71.2		$	(25.2	)	$	(38.8	)	$	38.6		$	(367.1	)	$	(262.8	)	$	32.6