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Accumulated Other Comprehensive (Loss) Income
 9 Months Ended
Sep. 30, 2018
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) and related income tax effect are as follows.

  
For the Three Month Period Ended
September 30, 2018
  
For the Nine Month Period Ended
September 30, 2018
 
    
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
 
$
(21.9
)
 
$
-
  
$
(21.9
)
 
$
(70.0
)
 
$
-
  
$
(70.0
)
Foreign currency gains, net
  
4.7
   
(1.1
)
  
3.6
   
24.4
   
(5.7
)
  
18.7
 
Unrecognized gains on cash flow hedges, net
  
5.8
   
(1.4
)
  
4.4
   
27.1
   
(6.6
)
  
20.5
 
Pension and other postretirement benefit prior service cost and gain or loss, net
  
1.0
   
(0.1
)
  
0.9
   
3.0
   
0.9
   
3.9
 
Other comprehensive loss
 
$
(10.4
)
 
$
(2.6
)
 
$
(13.0
)
 
$
(15.5
)
 
$
(11.4
)
 
$
(26.9
)

  
For the Three Month Period Ended
September 30, 2017
  
For the Nine Month Period Ended
September 30, 2017
 
    
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
 
$
41.5
  
$
-
  
$
41.5
  
$
131.4
  
$
-
  
$
131.4
 
Foreign currency losses, net
  
(23.5
)
  
8.7
   
(14.8
)
  
(71.2
)
  
26.9
   
(44.3
)
Unrecognized gains (losses) on cash flow hedges, net
  
5.5
   
(1.5
)
  
4.0
   
8.9
   
(3.4
)
  
5.5
 
Pension and other postretirement benefit prior service cost and gain or loss, net
  
(1.1
)
  
0.5
   
(0.6
)
  
(3.4
)
  
1.5
   
(1.9
)
Other comprehensive income
 
$
22.4
  
$
7.7
  
$
30.1
  
$
65.7
  
$
25.0
  
$
90.7
 

Changes in accumulated other comprehensive (loss) income by component for the nine month periods ended September 30, 2018 and 2017 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 as of December 31, 2017
 
$
(166.6
)
 
$
37.0
  
$
(29.8
)
 
$
(40.4
)
 
$
(199.8
)
Other comprehensive (loss) income before reclassifications
  
(70.0
)
  
18.7
   
11.5
   
2.8
   
(37.0
)
Amounts reclassified from accumulated other comprehensive (loss) income
  
-
   
-
   
9.0
   
1.1
   
10.1
 
Other comprehensive (loss) income
  
(70.0
)
  
18.7
   
20.5
   
3.9
   
(26.9
)
Cumulative effect adjustment upon adoption of new accounting standard (ASU 2017-12)
  
-
   
-
   
0.3
   
-
   
0.3
 
Balance as of September 30, 2018
 
$
(236.6
)
 
$
55.7
  
$
(9.0
)
 
$
(36.5
)
 
$
(226.4
)

   
Cumulative
Currency
Translation
Adjustment
  
Foreign
Currency
Gains and
(Losses)
  
Unrealized
(Losses) Gains
on Cash Flow
Hedges
  
Pension and
Postretirement
Benefit Plans
  
Total
 
Balance as of December 31, 2016
 
$
(324.2
)
 
$
88.6
  
$
(42.2
)
 
$
(64.6
)
 
$
(342.4
)
Other comprehensive income (loss) before reclassifications
  
131.4
   
(44.3
)
  
(3.1
)
  
(4.2
)
  
79.8
 
Amounts reclassified from accumulated other comprehensive (loss) income
  
-
   
-
   
8.6
   
2.3
   
10.9
 
Other comprehensive income (loss)
  
131.4
   
(44.3
)
  
5.5
   
(1.9
)
  
90.7
 
Balance as of September 30, 2017
 
$
(192.8
)
 
$
44.3
  
$
(36.7
)
 
$
(66.5
)
 
$
(251.7
)


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

Reclassifications out of accumulated other comprehensive (loss) income for the nine month periods ended September 30, 2018 and 2017 are presented in the following table.

Amount Reclassified from Accumulated Other Comprehensive (Loss) Income
 
Details about Accumulated
Other Comprehensive
(Loss) Income Components
 
For the
Nine Month
Period Ended
September 30,
2018
  
For the
Nine Month
Period Ended
September 30,
2017
  
Affected Line in the
Statement Where Net
Income is Presented
 
Loss on cash flow hedges
         
Interest rate swaps
 
$
11.8
  
$
13.9
  
Interest expense
 
   
11.8
   
13.9
  
Total before tax
 
   
(2.8
)
  
(5.3
)
 
Benefit for income taxes
 
  
$
9.0
  
$
8.6
  
Net of tax
 
             
Amortization of defined benefit pension and other postretirement benefit items
 
$
1.4
  
$
3.7
  
(1)
 

   
1.4
   
3.7
  
Total before tax
 
   
(0.3
)
  
(1.4
)
 
Benefit for income taxes
 
  
$
1.1
  
$
2.3
  
Net of tax
 
Total reclassifications for the period
 
$
10.1
  
$
10.9
  
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.