Accumulated Other Comprehensive Income (Loss)

12 Months Ended

Dec. 31, 2024

The following table summarizes the changes in the accumulated balances for each component of accumulated other comprehensive income (loss) (“AOCI”):


	Foreign currency translation adjustments		Net investment hedge derivative		Defined benefit pension plans		Cash flow hedge derivative		Total
Balance, January 1, 2022	$	(52.6)	$	—	$	(11.9)	$	7.4	$	(57.1)
Other comprehensive income (loss) before reclassifications	(119.7)		2.0		(46.3)		50.7		(113.3)
Amounts reclassified from accumulated other comprehensive income (loss), net of tax	—		—		0.1		(9.7)		(9.6)
Balance, December 31, 2022	$	(172.3)	$	2.0	$	(58.1)	$	48.4	$	(180.0)
Other comprehensive income (loss) before reclassifications	29.8		(12.5)		(2.1)		23.6		38.8
Amounts reclassified from accumulated other comprehensive income (loss), net of tax	—		—		(2.0)		(55.5)		(57.5)
Balance, December 31, 2023	$	(142.5)	$	(10.5)	$	(62.2)	$	16.5	$	(198.7)
Other comprehensive income (loss) before reclassifications	(76.2)		17.8		(1.0)		45.3		(14.1)
Amounts reclassified from accumulated other comprehensive income (loss), net of tax	—		—		0.6		(33.9)		(33.3)
Balance, December 31, 2024	$	(218.7)	$	7.3	$	(62.6)	$	27.9	$	(246.1)

The following table summarizes the reclassifications out of AOCI:


		Amount reclassified from accumulated other comprehensive income (loss)
		Year Ended December 31,
Details about accumulated other comprehensive income (loss) components	Affected line item in the statement where net income (loss) is presented	2024		2023		2022



Defined benefit pension plans:
Amortization of prior service costs	Other income (expense)- net	$	(0.5)	$	(0.4)	$	0.1
Amortization of actuarial gain/loss	Other income (expense)- net	(1.7)		(2.4)		0.1
Cash flow hedge derivative:
Interest contracts	Interest expense	(45.8)		(75.4)		(13.2)
Total before tax		$	(48.0)	$	(78.2)	$	(13.0)
Tax benefit (expense)		14.7		20.7		3.4






Total reclassifications for the period, net of tax		$	(33.3)	$	(57.5)	$	(9.6)