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Accumulated Other Comprehensive (Loss) Income
 6 Months Ended
Jun. 30, 2017
Accumulated Other Comprehensive (Loss) Income [Abstract]  
Accumulated Other Comprehensive (Loss) Income
Note 10. Accumulated Other Comprehensive (Loss) Income

The Company’s other comprehensive (loss) income consists of (i) unrealized foreign currency net gains and losses on the translation of the assets and liabilities of its foreign operations; (ii) realized and unrealized foreign currency gains and losses on intercompany notes of a long-term nature and certain hedges of net investments in foreign operations, net of income taxes; (iii) unrealized gains and losses on cash flow hedges (consisting of interest rate swaps), net of income taxes; and (iv) pension and other postretirement prior service cost and actuarial gains or losses, net of income taxes.  The before tax income (loss), related income tax effect and accumulated balances are as follows:

  
For the Three Months Ended
June 30, 2017
  
For the Six Months Ended
June 30, 2017
 
  
Before-Tax
Amount
  
Tax
Benefit
or (Expense)
  
Net of Tax
Amount
  
Before-Tax
Amount
  
Tax
Benefit
or (Expense)
  
Net of Tax
Amount
 
                   
Foreign currency translation adjustments, net
 
$
64.2
  
$
-
  
$
64.2
  
$
89.9
  
$
-
  
$
89.9
 
Foreign currency (losses) gains, net
  
(41.5
)
  
15.9
   
(25.6
)
  
(47.7
)
  
18.3
   
(29.4
)
Unrecognized (losses) gains on cash flow hedges, net
  
(1.4
)
  
(0.1
)
  
(1.5
)
  
3.4
   
(1.9
)
  
1.5
 
Pension and other postretirement benefit prior service cost and gain or loss, net
  
(2.3
)
  
0.8
   
(1.5
)
  
(2.3
)
  
1.0
   
(1.3
)
Other comprehensive income
 
$
19.0
  
$
16.6
  
$
35.6
  
$
43.3
  
$
17.4
  
$
60.7
 
 
  
For the Three Months Ended
June 30, 2016
  
For the Six Months Ended
June 30, 2016
 
  
Before-Tax
Amount
  
Tax
(Expense)
or Benefit
  
Net of Tax
Amount
  
Before-Tax
Amount
  
Tax
(Expense)
or Benefit
  
Net of Tax
Amount
 
                   
Foreign currency translation adjustments, net
 
$
(36.8
)
 
$
-
   
(36.8
)
 
$
5.2
  
$
-
  
$
5.2
 
Foreign currency gains (losses), net
  
19.4
   
(6.3
)
  
13.1
   
(9.9
)
  
4.2
   
(5.7
)
Unrecognized gains (losses) on cash flow hedges, net
  
(6.6
)
  
2.5
   
(4.1
)
  
(23.7
)
  
9.0
   
(14.7
)
Pension and other postretirement benefit prior service cost and gain or loss, net
  
4.5
   
(0.8
)
  
3.7
   
5.9
   
(1.1
)
  
4.8
 
Other comprehensive income (loss)
 
$
(19.5
)
 
$
(4.6
)
 
$
(24.1
)
 
$
(22.5
)
 
$
12.1
  
$
(10.4
)

Changes in accumulated other comprehensive (loss) income by component for the six month periods ended June 30, 2017 and 2016 are presented in the following tables (1):

  
Cumulative
Currency
Translation
Adjustment
  
Foreign
Currency
Gains and
(Losses)
  
Unrealized
(Losses) Gains
on Cash Flow
Hedges
  
Pension and
Postretirement
Benefit Plans
  
Total
 
                
Balance at December 31, 2016
 
$
(324.2
)
 
$
88.6
  
$
(42.2
)
 
$
(64.6
)
 
$
(342.4
)
Other comprehensive income (loss) before reclassifications
  
89.9
   
(29.4
)
  
(4.6
)
  
(2.8
)
  
53.1
 
Amounts reclassified from accumulated other comprehensive (loss) income
  
-
   
-
   
6.1
   
1.5
   
7.6
 
Net current-period other comprehensive income (loss)
  
89.9
   
(29.4
)
  
1.5
   
(1.3
)
  
60.7
 
Balance at June 30, 2017
 
$
(234.3
)
 
$
59.2
  
$
(40.7
)
 
$
(65.9
)
 
$
(281.7
)
 
  
Cumulative
Currency
Translation
Adjustment
  
Foreign
Currency
Gains and
(Losses)
  
Unrealized
(Losses) Gains
on Cash Flow
Hedges
  
Pension and
Postretirement
Benefit Plans
  
Total
 
                
Balance at December 31, 2015
 
$
(248.0
)
 
$
75.0
  
$
(41.3
)
 
$
(51.3
)
 
$
(265.6
)
Other comprehensive income (loss) before reclassifications
  
5.2
   
(5.7
)
  
(18.7
)
  
3.8
   
(15.4
)
Amounts reclassified from accumulated other comprehensive (loss) income
  
-
   
-
   
4.0
   
1.0
   
5.0
 
Net current-period other comprehensive income (loss)
  
5.2
   
(5.7
)
  
(14.7
)
  
4.8
   
(10.4
)
Balance at June 30, 2016
 
$
(242.8
)
 
$
69.3
  
$
(56.0
)
 
$
(46.5
)
 
$
(276.0
)

(1)
All amounts are net of tax.  Amounts in parentheses indicate debits.

Reclassifications out of accumulated other comprehensive (loss) income for the six month periods ended June 30, 2017 and 2016 are presented in the following table:

Amount Reclassified from Accumulated Other Comprehensive (Loss) Income
 
Details about Accumulated
Other Comprehensive
(Loss) Income Components
 
For the
Six Month
Period Ended
June 30,
2017
  
For the
Six Month
Period Ended
June 30,
2016
  
Affected Line in the
Statement Where Net
Income is Presented
 
         
Loss on cash flow hedges - interest rate swaps
 
$
9.8
  
$
6.4
  
Interest expense
 
   
9.8
   
6.4
  
Total before tax
 
   
(3.7
)
  
(2.4
)
 
Provision (benefit) for income taxes
 
  
$
6.1
  
$
4.0
  
Net of tax
 
Amortization of defined benefit pension and other postretirement benefit items
 
$
2.4
  
$
1.6
  
(1) 
 
   
2.4
   
1.6
  
Total before tax
 
   
(0.9
)
  
(0.6
)
 
Provision (benefit) for income taxes
 
  
$
1.5
  
$
1.0
  
Net of tax
 
Total reclassifications for the period
 
$
7.6
  
$
5.0
  
Net of tax
 

(1)
These components are included in the computation of net periodic benefit cost.  See Note 7 “Pension and Other Postretirement Benefits” for additional details.