12.	Accumulated Other Comprehensive (Loss) Income

OCI refers to certain gains and losses that under GAAP are included in comprehensive income but are excluded from net earnings as these amounts are initially recorded as an adjustment to stockholders’ equity. Amounts in OCI may be reclassified to net earnings upon the occurrence of certain events.

Our OCI is comprised of foreign currency translation adjustments, unrealized gains and losses on cash flow hedges, unrealized gains and losses on available-for-sale securities, and amortization of prior service costs and unrecognized gains and losses in actuarial assumptions on our defined benefit plans. Foreign currency translation adjustments are reclassified to net earnings upon sale or upon a complete or substantially complete liquidation of an investment in a foreign entity. Unrealized gains and losses on cash flow hedges are reclassified to net earnings when the hedged item affects net earnings. Unrealized gains and losses on available-for-sale securities are reclassified to net earnings if we sell the security before maturity or if the unrealized loss is considered to be other-than-temporary. Amounts related to defined benefit plans that are in OCI are reclassified over the service periods of employees in the plan. The reclassification amounts are allocated to all employees in the plans and, therefore, the reclassified amounts may become part of inventory to the extent they are considered direct labor costs. See Note 14 for more information on our defined benefit plans.

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

	Foreign			Cash			Defined
	Currency			Flow			Benefit
	Translation			Hedges			Plan Items
Balance December 31, 2016	$	(323.5	)	$	32.3		$	(142.8	)
OCI before reclassifications		445.0			(95.0	)		(2.7	)
Reclassifications		-			(3.8	)		7.3
Balance December 31, 2017	$	121.5		$	(66.5	)	$	(138.2	)

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

	Amount of Gain / (Loss)
	Reclassified from OCI
	For the Years Ended December 31,									Location on
Component of OCI	2017			2016			2015			Statement of Earnings
Cash flow hedges
Foreign exchange forward contracts	$	5.1		$	87.7		$	122.3		Cost of products sold
Forward starting interest rate swaps		-			(66.4	)		-		Other expense
Forward starting interest rate swaps		(0.5	)		(1.7	)		(1.3	)	Interest expense
		4.6			19.6			121.0		Total before tax
		0.8			(6.2	)		28.0		Provision (benefit) for income taxes
	$	3.8		$	25.8		$	93.0		Net of tax
Defined benefit plans
Prior service cost	$	10.3		$	7.8		$	5.6		*
Unrecognized actuarial (loss)		(22.1	)		(22.9	)		(20.1	)	*
		(11.8	)		(15.1	)		(14.5	)	Total before tax
		(4.5	)		(5.2	)		(5.3	)	Benefit for income taxes
	$	(7.3	)	$	(9.9	)	$	(9.2	)	Net of tax
Total reclassifications	$	(3.5	)	$	15.9		$	83.8		Net of tax

*	These OCI components are included in the computation of net periodic pension expense (see Note 14).

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
	2017			2016			2015			2017			2016		2015			2017			2016			2015
Foreign currency cumulative translation adjustments	$	396.8		$	(128.2	)	$	(305.2	)	$	(48.2	)	$	1.8	$	-		$	445.0		$	(130.0	)	$	(305.2	)
Unrealized cash flow hedge gains		(116.0	)		29.7			59.1			(21.0	)		1.4		6.4			(95.0	)		28.3			52.7
Reclassification adjustments on foreign currency hedges		(4.6	)		(19.6	)		(121.0	)		(0.8	)		6.2		(28.0	)		(3.8	)		(25.8	)		(93.0	)
Unrealized gains/(losses) on securities		-			0.5			(0.2	)		-			-		-			-			0.5			(0.2	)
Adjustments to prior service cost and unrecognized actuarial assumptions		6.6			27.3			(25.0	)		2.0			5.3		(3.6	)		4.6			22.0			(21.4	)
Total Other Comprehensive Income (Loss)	$	282.8		$	(90.3	)	$	(392.3	)	$	(68.0	)	$	14.7	$	(25.2	)	$	350.8		$	(105.0	)	$	(367.1	)