XML 52 R25.htm IDEA: XBRL DOCUMENT v2.4.0.8
Other Comprehensive Income Other Comprehensive Income (Notes)
 6 Months Ended
Jun. 30, 2013
Other Comprehensive Income [Abstract]  
Comprehensive Income (Loss) Note
OTHER COMPREHENSIVE INCOME

In February 2013, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2013-02 "Reporting of Amounts Reclassified Out of Accumulated Comprehensive Income." The amendments do not change the current requirement for reporting net income or other comprehensive income in financial statements; however, the amendment requires an entity to provide information about the amounts reclassified out of accumulated other comprehensive income by component. The new disclosure requirements were effective for all periods beginning after December 15, 2012 and adopted by LP effective January 1, 2013. The adoption of the amendments concerns presentation and disclosure only and did not have an impact on LP's consolidated financial statements.

Other comprehensive income activity, net of tax, is provided in the following table for the quarter ended June 30, 2013:
Dollar amounts in millions
 
Foreign currency translation adjustments
 
Pension adjustments
 
Unrealized gain (loss) on derivative instruments
 
Unrealized gain (loss) on investments
 
Other
 
Total
Balance at March 31, 2013
 
$
(5.7
)
 
$
(97.6
)
 
$
(0.3
)
 
$
1.3

 
$
(2.0
)
 
$
(104.3
)
Other comprehensive income before reclassifications
 
(9.0
)
 
3.0

 
—

 
0.9

 
—

 
$
(5.1
)
Amounts reclassified from accumulated comprehensive income
 
—

 
(1.4
)
 
—

 
—

 
—

 
$
(1.4
)
Net current-period other comprehensive income
 
(9.0
)
 
1.6

 
—

 
0.9

 
—

 
(6.5
)
Balance at June 30, 2013
 
$
(14.7
)
 
$
(96.0
)
 
$
(0.3
)
 
$
2.2

 
$
(2.0
)
 
$
(110.8
)


Reclassifications out of accumulated other comprehensive loss for the quarter ended June 30, 2013 are summarized, in millions of dollars, in the following table:
Details about accumulated other comprehensive income components
 
Amount reclassified from accumulated comprehensive income
 
Affected line item in the statement where net income (loss) is presented
Amortization of defined benefit pension plans
 
 
 
 
     Prior service cost
 
$
—

 
(a) 
     Actuarial loss
 
1.9

 
(a) 
     Transition obligation
 
—

 
(a) 
 
 
1.9

 
Total before tax
 
 
0.5

 
Tax (provision) benefit
Total reclassifications for the quarter ended June 30, 2013
 
$
1.4

 
Net of tax


Other comprehensive income activity, net of tax, is provided in the following table for the six months ended June 30, 2013:
Dollar amounts in millions
 
Foreign currency translation adjustments
 
Pension adjustments
 
Unrealized gain (loss) on derivative instruments
 
Unrealized gain (loss) on investments
 
Other
 
Total
Balance at December 31, 2012
 
$
(7.6
)
 
$
(99.0
)
 
$
(0.3
)
 
$
1.0

 
$
(2.0
)
 
$
(107.9
)
Other comprehensive income before reclassifications
 
(7.1
)
 
5.7

 
—

 
1.2

 
—

 
(0.2
)
Amounts reclassified from accumulated comprehensive income
 
—

 
(2.7
)
 
—

 
—

 
—

 
(2.7
)
Net current-period other comprehensive income
 
(7.1
)
 
3.0

 
—

 
1.2

 
—

 
(2.9
)
Balance at June 30, 2013
 
$
(14.7
)
 
$
(96.0
)
 
$
(0.3
)
 
$
2.2

 
$
(2.0
)
 
$
(110.8
)


Reclassifications out of accumulated other comprehensive loss for the six months ended June 30, 2013 are summarized, in millions of dollars, in the following table:
Details about accumulated other comprehensive income components
 
Amount reclassified from accumulated comprehensive income
 
Affected line item in the statement where net income (loss) is presented
Amortization of defined benefit pension plans
 
 
 
 
     Prior service cost
 
$
0.1

 
(a) 
     Actuarial loss
 
3.7

 
(a) 
     Transition obligation
 
(0.1
)
 
(a) 
 
 
3.7

 
Total before tax
 
 
1.0

 
Tax (provision) benefit
Total reclassifications for the six months ended June 30, 2013
 
$
2.7

 
Net of tax

____________
(a) These accumulated other comprehensive components are included in the computation of net periodic pension cost, see Note 16 for additional details. The net periodic pension cost is included in Cost of sales and Selling and administrative line items in the Consolidated Statements of Income.