14. Accumulated Other Comprehensive Income (“AOCI”)

The components of accumulated other comprehensive income (loss) as of December 31, 2015 and December 31, 2014 are as follows:


(in millions)	2015			2014
Foreign currency translation	$	(7.9	)	$	17.3
Derivative instrument fair market value, net of income taxes of $0.9 and $0.4		(1.8	)		(1.0	)
Employee pension and postretirement benefit adjustments, net of income taxes of $0.3 and $0.8		(34.8	)		(37.0	)

	$	(44.5	)	$	(20.7	)

Summaries of the changes in accumulated other comprehensive income (loss), net of tax, by component for the years ended December 31, 2014, and December 31, 2015 are as follows:


(in millions)	Foreign Currency Translation			Gains and Losses on Cash Flow Hedges			Pension & Postretirement			Total
Balance at December 31, 2013	$	34.2		$	(0.4	)	$	(32.6	)	$	1.2
Other comprehensive loss before reclassifications		(16.9	)		(1.4	)		(4.8	)		(23.1	)
Amounts reclassified from accumulated other comprehensive income		—			0.8			0.4			1.2

Net current period other comprehensive loss		(16.9	)		(0.6	)		(4.4	)		(21.9	)

Balance at December 31, 2014	$	17.3		$	(1.0	)	$	(37.0	)	$	(20.7	)

Other comprehensive (loss) income before reclassifications		(25.2	)		(3.8	)		1.1			(27.9	)
Amounts reclassified from accumulated other comprehensive income		—			3.0			1.1			4.1

Net current period other comprehensive (loss) income		(25.2	)		(0.8	)		2.2			(23.8	)

Balance at December 31, 2015	$	(7.9	)	$	(1.8	)	$	(34.8	)	$	(44.5	)

A reconciliation of the reclassifications out of accumulated other comprehensive income, net of tax, for the year ended December 31, 2015 is as follows:


(in millions)	Amount Reclassified from Accumulated Other Comprehensive Income			Recognized Location
Gains and losses on cash flow hedges
Foreign exchange contracts	$	(1.4	)		Cost of sales
Commodity contracts		(3.4	)		Cost of sales

		(4.8	)		Total before tax
		1.8			Tax expense

	$	(3.0	)		Net of tax

Amortization of pension and postretirement items
Amortization of prior service cost		—	(a)
Actuarial losses		(1.1	)(a)

		(1.1	)		Total before tax
		—			Tax benefit

	$	(1.1	)		Net of Tax



Total reclassifications for the period	$	(4.1	)		Net of Tax

(a)	These other comprehensive income components are included in the net periodic pension cost (see Note 19, “Employee Benefit Plans,” for further details).

A reconciliation of the reclassifications out of accumulated other comprehensive income, net of tax, for the year ended December 31, 2014 is as follows:


(in millions)	Amount Reclassified from Accumulated Other Comprehensive Income			Recognized Location
Gains and losses on cash flow hedges
Foreign exchange contracts	$	(0.9	)		Cost of sales
Commodity contracts		(0.3	)		Cost of sales

		(1.2	)		Total before tax
		0.4			Tax expense

	$	(0.8	)		Net of tax

Amortization of pension and postretirement items
Amortization of prior service cost		0.3	(a)
Actuarial losses		(0.8	)(a)

		(0.5	)		Total before tax
		0.1			Tax benefit

	$	(0.4	)		Net of Tax



Total reclassifications for the period	$	(1.2	)		Net of Tax

(a)	These other comprehensive income components are included in the net periodic pension cost (see Note 19, “Employee Benefit Plans,” for further details).