Accumulated Other Comprehensive (Loss) Income (Tables)

12 Months Ended

Dec. 31, 2016

Equity [Abstract]

Changes in Components of Other Comprehensive Income, Net of Tax

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

	Foreign Currency Translation			Cash Flow Hedges			Unrealized Gains (Losses) on Securities			Defined Benefit Plan Items
Balance December 31, 2015	$	(193.4	)	$	29.8		$	(0.6	)	$	(164.8	)
OCI before reclassifications		(130.0	)		28.3			0.5			12.1
Reclassifications		–			(25.8	)		–			9.9
Balance December 31, 2016	$	(323.4	)	$	32.3		$	(0.1	)	$	(142.8	)

Reclassification Adjustments from Other Comprehensive Income

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	2016			2015			2014
Cash flow hedges
Foreign exchange forward contracts	$	87.7		$	122.3		$	33.3		Cost of products sold
Forward starting interest rate swaps		(66.4	)		–			–		Other expense
Forward starting interest rate swaps		(1.7	)		(1.3	)		–		Interest expense
		19.6			121.0			33.3		Total before tax
		(6.2	)		28.0			14.4		Provision for income taxes
	$	25.8		$	93.0		$	18.9		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	$	7.8		$	5.6		$	3.9		*
Unrecognized actuarial (loss)		(22.9	)		(20.1	)		(11.1	)	*
		(15.1	)		(14.5	)		(7.2	)	Total before tax
		(5.2	)		(5.3	)		(3.0	)	Provision for income taxes
	$	(9.9	)	$	(9.2	)	$	(4.2	)	Net of tax
Total reclassifications	$	15.9		$	83.8		$	15.1		Net of tax

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

Tax Effects on Each Component of Other Comprehensive Income Recognized in Statements of Comprehensive Income (Loss)

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

	For the Years Ended December 31,
	Before Tax									Tax								Net of Tax
	2016			2015			2014			2016		2015			2014			2016			2015			2014
Foreign currency cumulative translation adjustments	$	(128.2	)	$	(305.2	)	$	(223.1	)	$	1.8	$	–		$	–		$	(130.0	)	$	(305.2	)	$	(223.1	)
Unrealized cash flow hedge gains		29.7			59.1			60.5			1.4		6.4			4.6			28.3			52.7			55.9
Reclassification adjustments on foreign currency hedges		(19.6	)		(121.0	)		(33.3	)		6.2		(28.0	)		(14.4	)		(25.8	)		(93.0	)		(18.9	)
Reclassification adjustments on securities		–			–			(0.4	)		–		–			–			–			–			(0.4	)
Unrealized gains/(losses) on securities		0.5			(0.2	)		(0.5	)		–		–			–			0.5			(0.2	)		(0.5	)
Adjustments to prior service cost and unrecognized actuarial assumptions		27.3			(25.0	)		(104.8	)		5.3		(3.6	)		(29.0	)		22.0			(21.4	)		(75.8	)
Total Other Comprehensive (Loss) Income	$	(90.3	)	$	(392.3	)	$	(301.6	)	$	14.7	$	(25.2	)	$	(38.8	)	$	(105.0	)	$	(367.1	)	$	(262.8	)