Accumulated other comprehensive income or loss

9 Months Ended

Sep. 30, 2026

Accumulated other comprehensive income or loss

10. Accumulated other comprehensive income (loss)

The following table presents changes in the components of AOCI:


(in millions)	Foreign currency translation		Derivative instruments		Defined benefit plans		Total
Balance at June 30, 2026	$	(67.8)	$	—	$	12.6	$	(55.2)
Unrealized (loss) gain	(8.3)		1.7		(0.8)		(7.4)
Reclassification of gain into earnings	—		(1.7)		—		(1.7)
Change due to income taxes	(12.4)		—		0.2		(12.2)
Balance at September 30, 2026	$	(88.5)	$	—	$	12.0	$	(76.5)

Balance at June 30, 2025	$	(23.8)	$	0.1	$	13.3	$	(10.4)
Unrealized (loss) gain	(11.5)		1.9		(0.4)		(10.0)
Reclassification of gain into earnings	—		(2.0)		—		(2.0)
Change due to income taxes	(1.2)		—		—		(1.2)
Balance at September 30, 2025	$	(36.5)	$	—	$	12.9	$	(23.6)

Balance at December 31, 2025	$	(31.0)	$	—	$	14.1	$	(16.9)
Unrealized (loss) gain	(45.3)		5.4		(2.7)		(42.6)
Reclassification of gain into earnings	(0.2)		(5.4)		—		(5.6)
Change due to income taxes	(12.0)		—		0.6		(11.4)
Balance at September 30, 2026	$	(88.5)	$	—	$	12.0	$	(76.5)

Balance at December 31, 2024	$	(177.4)	$	0.2	$	(6.8)	$	(184.0)
Unrealized gain	116.4		7.4		2.8		126.6
Reclassification of (gain) loss into earnings	—		(7.6)		17.3		9.7
Change due to income taxes	24.5		—		(0.4)		24.1
Balance at September 30, 2025	$	(36.5)	$	—	$	12.9	$	(23.6)

The reclassification effects shown above were immaterial to the financial statements and were recorded in cost of sales, SG&A expense, other (expense) income, net, or interest expense, net, depending upon the nature of the underlying transaction. The income tax effects related to foreign currency translation were primarily attributable to our net investment hedges for the three and nine months ended September 30, 2026 and 2025, including our cross‑currency swap arrangements and foreign-currency-denominated debt instruments designated as net investment hedges, as discussed in note 14.