Note 10. Accumulated Other Comprehensive (Loss) Income

The Company’s other comprehensive income (loss) 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. See Note 7 “Pension and Other Postretirement Benefits” and Note 11 “Hedging Activities and Fair Value Measurements.”

The before tax income (loss) and related income tax effect are as follows.

	For the Three Month Period Ended March 31, 2019								For the Three Month Period Ended March 31, 2018
	Before-Tax Amount		Tax (Expense) or Benefit			Net of Tax Amount			Before-Tax Amount			Tax Benefit or (Expense)			Net of Tax Amount

Foreign currency translation adjustments, net	$	4.5	$	(4.6	)	$	(0.1	)	$	29.7			4.7		$	34.4
Unrecognized gains on cash flow hedges, net		1.3		0.6			1.9			15.1			(3.7	)		11.4
Pension and other postretirement benefit prior service cost and gain or loss, net		0.1		0.1			0.2			(1.2	)		1.6			0.4
Other comprehensive income	$	5.9	$	(3.9	)	$	2.0		$	43.6		$	2.6		$	46.2

On January 1, 2019, the Company adopted ASU 2018-02 which reclassified stranded tax effects resulting from the Tax Cuts and Jobs Act from accumulated other comprehensive (loss) income to retained (deficit) earnings. The Company recorded a cumulative-effect adjustment which increased “Accumulated other comprehensive loss” of the Condensed Consolidated Balance Sheet by $8.2 million. Changes in accumulated other comprehensive (loss) income by component for the three month periods ended March 31, 2019 and 2018 are presented in the following table ⁽¹⁾.

	Foreign Currency Translation Adjustments, Net			Unrealized (Losses) Gains on Cash Flow Hedges			Pension and Postretirement Benefit Plans			Total
Balance as of December 31, 2018	$	(190.6	)	$	(11.4	)	$	(45.0	)	$	(247.0	)
Other comprehensive loss before reclassifications		(0.1	)		(0.9	)		(0.2	)		(1.2	)
Amounts reclassified from accumulated other comprehensive (loss) income		-			2.8			0.4			3.2
Other comprehensive (loss) income		(0.1	)		1.9			0.2			2.0
Cumulative effect adjustment upon adoption of new accounting standard (ASU 2018-02)		(1.5	)		(6.7	)		-			(8.2	)
Balance as of March 31, 2019	$	(192.2	)	$	(16.2	)	$	(44.8	)	$	(253.2	)

	Foreign Currency Translation Adjustments, Net			Unrealized (Losses) Gains on Cash Flow Hedges			Pension and Postretirement Benefit Plans			Total
Balance as of December 31, 2017	$	(129.6	)	$	(29.8	)	$	(40.4	)	$	(199.8	)
Other comprehensive income before reclassifications		34.4			7.8			-			42.2
Amounts reclassified from accumulated other comprehensive (loss) income		-			3.6			0.4			4.0
Other comprehensive income		34.4			11.4			0.4			46.2
Cumulative effect adjustment upon adoption of new accounting standard (ASU 2017-12)		-			0.3			-			0.3
Balance as of March 31, 2018	$	(95.2	)	$	(18.1	)	$	(40.0	)	$	(153.3	)

⁽¹⁾

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

Reclassifications out of accumulated other comprehensive (loss) income for the three month periods ended March 31, 2019 and 2018 are presented in the following table:

Amount Reclassified from Accumulated Other Comprehensive (Loss) Income
Details about Accumulated Other Comprehensive (Loss) Income Components	For the Three Month Period Ended March 31, 2019			For the Three Month Period Ended March 31, 2018			Affected Line in the Statement Where Net Income is Presented
Loss on cash flow hedges
Interest rate swaps	$	3.7		$	4.8		Interest expense
		3.7			4.8		Total before tax
		(0.9	)		(1.2	)	Income tax benefit
	$	2.8		$	3.6		Net of tax
Amortization of defined benefit pension and other postretirement benefit items	$	0.5		$	0.5		⁽¹⁾
		0.5			0.5		Total before tax
		(0.1	)		(0.1	)	Income tax benefit
	$	0.4		$	0.4		Net of tax
Total reclassifications for the period	$	3.2		$	4.0		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.