Accumulated Other Comprehensive Income (Loss) (Tables)

12 Months Ended

Dec. 31, 2022

Schedule of Other Comprehensive (Loss) Income

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


	Foreign Currency Translation Adjustments, Net		Cash Flow Hedges		Pension and Other Postretirement Benefit Plans		Total
Balance as of December 31, 2019	$	(193.6)	$	(10.9)	$	(51.5)	$	(256.0)
Before tax income (loss)	253.1		14.2		(11.5)		255.8
Income tax effect	15.1		(3.3)		2.6		14.4
Other comprehensive income (loss)	268.2		10.9		(8.9)		270.2

Balance as of December 31, 2020	$	74.6	$	—	$	(60.4)	$	14.2
Before tax income (loss)	(119.9)		—		61.6		(58.3)
Income tax effect	16.9		—		(12.9)		4.0
Other comprehensive income (loss)	(103.0)		—		48.7		(54.3)
Divestiture of foreign subsidiaries	(1.5)		—		—		(1.5)
Balance as of December 31, 2021	$	(29.9)	$	—	$	(11.7)	$	(41.6)
Before tax income (loss)	(237.1)		21.3		41.0		(174.8)
Income tax effect	(15.8)		(5.3)		(14.2)		(35.3)
Other comprehensive income (loss)	(252.9)		16.0		26.8		(210.1)

Balance as of December 31, 2022	$	(282.8)	$	16.0	$	15.1	$	(251.7)

Schedule of Changes in Accumulated Other Comprehensive (Loss) Income

Changes in accumulated other comprehensive income (loss) by component for the periods described below are presented in the following table(1).


	Foreign Currency Translation Adjustments, Net		Cash Flow Hedges		Pension and Other Postretirement Benefit Plans		Total
Balance as of December 31, 2019	$	(193.6)	$	(10.9)	$	(51.5)	$	(256.0)
Other comprehensive income (loss) before reclassifications	268.2		(3.0)		(11.2)		254.0
Amounts reclassified from accumulated other comprehensive income (loss)	—		13.9		2.3		16.2
Other comprehensive income (loss)	268.2		10.9		(8.9)		270.2

Balance as of December 31, 2020	$	74.6	$	—	$	(60.4)	$	14.2
Other comprehensive income (loss) before reclassifications	(103.0)		—		45.2		(57.8)
Amounts reclassified from accumulated other comprehensive income (loss)	—		—		3.5		3.5
Other comprehensive income (loss)	(103.0)		—		48.7		(54.3)
Divestiture of foreign subsidiaries	(1.5)		—		—		(1.5)
Balance as of December 31, 2021	$	(29.9)	$	—	$	(11.7)	$	(41.6)
Other comprehensive income (loss) before reclassifications	(244.3)		13.9		26.9		(203.5)
Amounts reclassified from accumulated other comprehensive income (loss)	(8.6)		2.1		(0.1)		(6.6)
Other comprehensive income (loss)	(252.9)		16.0		26.8		(210.1)

Balance as of December 31, 2022	$	(282.8)	$	16.0	$	15.1	$	(251.7)

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

Schedule of Reclassification out of Accumulated Other Comprehensive Income

Reclassifications out of accumulated other comprehensive income (loss) for the years ended December 31, 2022, 2021 and 2020 are presented in the following table.


Amount Reclassified from Accumulated Other Comprehensive Income (Loss)
Details about Accumulated Other Comprehensive Income (Loss) Components	2022		2021		2020		Affected Line(s) in the Statement Where Net Income is Presented
Cash flow hedges (interest rate swaps and caps)	$	2.8	$	—	$	18.5	Interest expense
Benefit for income taxes	(0.7)		—		(4.6)		Benefit for income taxes
Cash flow hedges (interest rate swaps and caps), net of tax	$	2.1	$	—	$	13.9

Net investment hedges	$	(11.5)	$	—	$	—	Interest expense
Provision for income taxes	2.9		—		—		Benefit for income taxes
Net investment hedges, net of tax	$	(8.6)	$	—	$	—

Amortization of defined benefit pension and other postretirement benefit items(1)	$	(0.1)	$	4.7	$	3.0	Cost of sales and Selling and administrative expenses
Benefit for income taxes	—		(1.2)		(0.7)		Benefit for income taxes
Amortization of defined benefit pension and other postretirement benefit items, net of tax	$	(0.1)	$	3.5	$	2.3

Total reclassifications for the period	$	(6.6)	$	3.5	$	16.2

(1)These components are included in the computation of net periodic benefit cost. See Note 12 “Benefit Plans” for additional details.