Accumulated other comprehensive loss

9 Months Ended

Sep. 30, 2020

12. Accumulated other comprehensive loss

The following tables present the changes in accumulated other comprehensive loss by component, net of tax:


(in millions)	Cash flow hedges		Defined benefit pension items		Currency translation items		Total
Balance as of December 31, 2019	$	(15.4)	$	(1.0)	$	(362.9)	$	(379.3)
Other comprehensive loss before reclassifications	(33.4)		—		(60.1)		(93.5)
Amounts reclassified from accumulated other comprehensive loss	14.6		0.1		—		14.7
Net current period other comprehensive (loss) income	$	(18.8)	$	0.1	$	(60.1)	$	(78.8)
Balance as of September 30, 2020	$	(34.2)	$	(0.9)	$	(423.0)	$	(458.1)

Balance as of July 1, 2020	$	(36.8)	$	(0.9)	$	(437.3)	$	(475.0)
Other comprehensive (loss) income before reclassifications	(11.2)		—		14.3		3.1
Amounts reclassified from accumulated other comprehensive loss	13.8		—		—		13.8
Net current period other comprehensive income (loss)	$	2.6	$	—	$	14.3	$	16.9
Balance as of September 30, 2020	$	(34.2)	$	(0.9)	$	(423.0)	$	(458.1)

Balance as of December 31, 2018	$	8.9	$	(1.1)	$	(381.0)	$	(373.2)
Impact due to adoption of ASU 2018-02 (1)	1.5		—		(4.7)		(3.2)
Other comprehensive loss before reclassifications	(22.1)		—		(12.1)		(34.2)
Amounts reclassified from accumulated other comprehensive loss	(6.5)		0.1		—		(6.4)
Net current period other comprehensive (loss) income	$	(27.1)	$	0.1	$	(16.8)	$	(43.8)
Balance as of September 30, 2019	$	(18.2)	$	(1.0)	$	(397.8)	$	(417.0)

Balance as of Balance as of July 1, 2019	$	(13.8)	$	(1.0)	$	(365.9)	$	(380.7)
Other comprehensive loss before reclassifications	(3.5)		—		(31.9)		(35.4)
Amounts reclassified from accumulated other comprehensive loss	(0.9)		—		—		(0.9)
Net current period other comprehensive loss	$	(4.4)	$	—	$	(31.9)	$	(36.3)
Balance as of September 30, 2019	$	(18.2)	$	(1.0)	$	(397.8)	$	(417.0)

(1)Adjusted due to the adoption of ASU 2018-02 “Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income” on January 1, 2019.

The following is a summary of the amounts reclassified from accumulated other comprehensive loss to net income (loss):


	Statement of Operations Classification	Three months ended September 30,				Nine months ended September 30,
(in millions)		2020 (1)		2019 (1)		2020 (1)		2019 (1)
Amortization of defined benefit pension items:
Prior service cost	Other income (expense), net	$	—	$	—	$	0.1	$	0.1
Tax expense	Income tax expense	—		—		—		—
Net of tax		$	—	$	—	$	0.1	$	0.1
Cash flow hedges:
Interest rate swap contracts	Interest expense	$	4.7	$	(1.2)	$	7.8	$	(8.7)
Cross-currency swap contracts	Interest expense and other income (expense), net	15.4		—		13.4		—
Tax (benefit) expense	Income tax expense	(6.3)		0.3		(6.6)		2.2
Net of tax		$	13.8	$	(0.9)	$	14.6	$	(6.5)
Total reclassifications for the period, net of tax		$	13.8	$	(0.9)	$	14.7	$	(6.4)

(1)Amounts in parentheses indicate credits to net income (loss) in the condensed consolidated statement of operations.