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Accumulated Other Comprehensive Income (Loss)
 12 Months Ended
Dec. 31, 2017
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Accumulated Other Comprehensive Income (Loss)
OCI represents income and losses for the reporting period, including the related tax impacts, which are excluded from net income (loss) and recognized directly within AOCI as a component of equity. OCI also includes amounts reclassified to income during the reporting period that were previously recognized within AOCI. Amounts remaining within AOCI are expected to be reclassified out of AOCI in the future, at which point they will be recognized within the consolidated statement of operations as a component of net income (loss). We recognize OCI related to the translation of assets and liabilities of our foreign subsidiaries which are denominated in currencies other than USD, unrealized gains and losses on the effective portion of our derivatives designated in cash flow and net investment hedging relationships, actuarial gains and losses and prior service costs related to our pension and other post-retirement benefit plans, as well as our proportionate share of our equity method investments' OCI. Additionally, we do not have the expectation or intent to cash settle certain of our intercompany note receivable and note payable positions in the foreseeable future; therefore, the remeasurement of these instruments is recorded as a component of foreign currency translation adjustments within OCI.
Accumulated Other Comprehensive Income (Loss)
Pension and other postretirement benefit adjustments, amortization of net prior service (benefit) cost and net actuarial (gain) loss to income and tax benefit (expense) have been revised to reflect the retrospective application of our change in accounting policy as discussed in Note 1, "Basis of Presentation and Summary of Significant Accounting Policies" and Note 16, "Employee Retirement Plans and Postretirement Benefits".
 
MCBC stockholders' equity
 
Foreign
currency
translation
adjustments
 
Gain (loss) on
derivative
instruments
 
Pension and
Postretirement
Benefit
adjustments
 
Equity Method
Investments
 
Accumulated
other
comprehensive
income (loss)
 
(In millions)
As of December 31, 2014
$
129.8

 
$
15.0

 
$
(632.0
)
 
$
(384.7
)
 
$
(871.9
)
Foreign currency translation adjustments
(830.4
)
 
(16.0
)
 
(1.7
)
 
—

 
(848.1
)
Unrealized gain (loss) on derivative instruments
—

 
23.0

 
—

 
—

 
23.0

Reclassification of derivative (gain) loss to income
—

 
(7.1
)
 
—

 
—

 
(7.1
)
Pension and other postretirement benefit adjustments
—

 
—

 
22.8

 
—

 
22.8

Amortization of net prior service (benefit) cost and net actuarial (gain) loss to income
—

 
—

 
20.7

 
—

 
20.7

Ownership share of unconsolidated subsidiaries' other comprehensive income (loss)
—

 
—

 
—

 
56.5

 
56.5

Tax benefit (expense)
(69.3
)
 
(0.4
)
 
(8.1
)
 
(22.2
)
 
(100.0
)
As of December 31, 2015
$
(769.9
)
 
$
14.5

 
$
(598.3
)
 
$
(350.4
)
 
$
(1,704.1
)
Foreign currency translation adjustments
(227.4
)
 
—

 
(7.3
)
 
—

 
(234.7
)
Unrealized gain (loss) on derivative and non-derivative instruments
—

 
20.0

 
—

 
—

 
20.0

Reclassification of derivative (gain) loss to income
—

 
(3.4
)
 
—

 
—

 
(3.4
)
Pension and other postretirement benefit adjustments
—

 
—

 
64.4

 
—

 
64.4

Amortization of net prior service (benefit) cost and net actuarial (gain) loss to income
—

 
—

 
28.9

 
—

 
28.9

Reclassification of historical share of MillerCoors' AOCI loss to income(1)
—

 
—

 
—

 
458.3

 
458.3

Ownership share of unconsolidated subsidiaries' other comprehensive income (loss)(1)
—

 
—

 
—

 
36.8

 
36.8

Tax benefit (expense)(1)
3.2

 
(9.9
)
 
(16.7
)
 
(214.6
)
 
(238.0
)
As of December 31, 2016
$
(994.1
)
 
$
21.2

 
$
(529.0
)
 
$
(69.9
)
 
$
(1,571.8
)
Foreign currency translation adjustments
638.3

 
—

 
4.7

 
—

 
643.0

Unrealized gain (loss) on derivative and non-derivative instruments
—

 
(205.3
)
 
—

 
—

 
(205.3
)
Reclassification of derivative (gain) loss to income
—

 
2.0

 
—

 
—

 
2.0

Pension and other postretirement benefit adjustments
—

 
—

 
181.8

 
—

 
181.8

Amortization of net prior service (benefit) cost and net actuarial (gain) loss to income
—

 
—

 
4.4

 
—

 
4.4

Ownership share of unconsolidated subsidiaries' other comprehensive income (loss)
—

 
—

 
—

 
14.3

 
14.3

Tax benefit (expense)
41.2

 
71.2

 
(36.9
)
 
(3.9
)
 
71.6

As of December 31, 2017
$
(314.6
)
 
$
(110.9
)
 
$
(375.0
)
 
$
(59.5
)
 
$
(860.0
)

(1)
Upon completion of the Acquisition on October 11, 2016, we recorded a loss of $458.3 million within special items upon reclassification of our accumulated other comprehensive loss related to our historical 42% interest in MillerCoors. The associated income tax benefit of $200.1 million was also reclassified and recorded as a component of the income tax benefit (expense) line item on the consolidated statement of operations. See Note 4, "Acquisition and Investments" for further details. The remaining AOCI of our equity method investments is related to changes to BRI and BDL pension obligations.
We have significant levels of net assets denominated in currencies other than the USD due to our operations in foreign countries, and therefore we recognize OCI gains and/or losses when those items are translated to USD. The foreign currency translation gains recognized during 2017 were due to the strengthening of CAD, GBP, and other currencies of our Europe operations versus the USD. The foreign currency translation losses recognized during 2016 were due to the weakening of the GBP and other currencies of our Europe operations versus the USD, partially offset by slight strengthening of the CAD versus the USD. The foreign currency translation losses recognized during 2015 were due to the weakening of the CAD, GBP and other currencies of our Europe operations versus the USD.

Reclassifications from AOCI to income:
 
 
For the years ended
 
 
 
 
December 31, 2017
 
December 31, 2016
 
December 31, 2015
 
 
 
 
Reclassifications from AOCI
 
Location of gain (loss)
recognized in income
 
 
(In millions)
 
 
Gain/(loss) on cash flow hedges:
 
 
 
 
 
 
 
 
Forward starting interest rate swaps
 
$
(3.7
)
 
$
(3.8
)
 
$
(2.0
)
 
Interest expense, net
Foreign currency forwards
 
(2.0
)
 
(7.2
)
 
(11.9
)
 
Other income (expense), net
Foreign currency forwards
 
3.7

 
14.4

 
21.0

 
Cost of goods sold
Total income (loss) reclassified, before tax
 
(2.0
)
 
3.4

 
7.1

 
 
Income tax benefit (expense)
 
0.7

 
(0.4
)
 
(1.7
)
 
 
Net income (loss) reclassified, net of tax
 
$
(1.3
)
 
$
3.0

 
$
5.4

 
 
 
 
 
 
 
 
 
 
 
Amortization of defined benefit pension and other postretirement benefit plan items:
 
 
 
 
 
 
 
 
Prior service benefit (cost)
 
$
(0.5
)
 
$
(0.6
)
 
$
(0.3
)
 
(1) 
Net actuarial gain (loss) and settlement
 
(3.9
)
 
(28.3
)
 
(20.4
)
 
(1) 
Total income (loss) reclassified, before tax
 
(4.4
)
 
(28.9
)
 
(20.7
)
 
 
Income tax benefit (expense)
 
0.8

 
6.1

 
4.6

 
 
Net income (loss) reclassified, net of tax
 
$
(3.6
)
 
$
(22.8
)
 
$
(16.1
)
 
 
 
 
 
 
 
 
 
 
 
Reclassification of historical share of MillerCoors' AOCI loss:
 
 
 
 
 
 
 
 
Historical share of MillerCoors' AOCI loss
 
$
—

 
$
(458.3
)
 
$
—

 
(2) 
Income tax benefit (expense)
 
—

 
200.1

 
—

 
 
Net income (loss) reclassified, net of tax
 
$
—

 
$
(258.2
)
 
$
—

 
 
 
 
 
 
 
 
 
 
 
Total income (loss) reclassified, net of tax
 
$
(4.9
)
 
$
(278.0
)
 
$
(10.7
)
 
 
(1)
These components of AOCI are included in the computation of net periodic pension and other postretirement benefit cost. See Note 16, "Employee Retirement Plans and Postretirement Benefits" for additional details.
(2)
Upon completion of the Acquisition on October 11, 2016, we recorded a loss within special items upon reclassification of our accumulated other comprehensive loss related to our historical 42% interest in MillerCoors. See Note 4, "Acquisition and Investments" for further details.