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Equity (Tables)
12 Months Ended
Dec. 31, 2021
Equity [Abstract]  
Schedule of Components of Accumulated Other Comprehensive Loss

The components of accumulated other comprehensive loss as of December 31, 2021 and 2020 are as follows:

 

 

 

2021

 

 

2020

 

Foreign currency translation, net of income tax (provision)
   benefit of $
0.6 and $(4.6)

 

$

(70.1

)

 

$

(49.6

)

Employee pension and postretirement benefit adjustments,
   net of income benefit of $
13.9 and $14.4

 

 

(32.3

)

 

 

(47.9

)

Total accumulated other comprehensive loss

 

$

(102.4

)

 

$

(97.5

)

 

A reconciliation of the changes in accumulated other comprehensive loss, net of income tax, by component as of December 31, 2020 and 2021 are as follows:

 

 

 

Gains
(Losses) on
Cash Flow
Hedges

 

 

Pension &
Postretirement

 

 

Foreign
Currency
Translation

 

 

Total

 

Balance as of December 31, 2019

 

$

 

 

$

(39.9

)

 

$

(81.1

)

 

$

(121.0

)

Other comprehensive income (loss) before
   reclassifications

 

 

(0.3

)

 

 

(9.9

)

 

 

31.5

 

 

 

21.3

 

Amounts reclassified from accumulated other
   comprehensive income

 

 

0.3

 

 

 

1.9

 

 

 

 

 

 

2.2

 

Net other comprehensive income (loss)

 

 

 

 

 

(8.0

)

 

 

31.5

 

 

 

23.5

 

Balance as of December 31, 2020

 

 

 

 

 

(47.9

)

 

 

(49.6

)

 

 

(97.5

)

Other comprehensive income (loss) before
   reclassifications

 

 

(1.1

)

 

 

14.5

 

 

 

(20.5

)

 

 

(7.1

)

Amounts reclassified from accumulated other
   comprehensive income

 

 

1.1

 

 

 

1.1

 

 

 

 

 

 

2.2

 

Net other comprehensive income (loss)

 

 

 

 

 

15.6

 

 

 

(20.5

)

 

 

(4.9

)

Balance as of December 31, 2021

 

$

 

 

$

(32.3

)

 

$

(70.1

)

 

$

(102.4

)

Reconciliation of reclassifications out of accumulated other comprehensive income (loss), net of income taxes

A reconciliation of the reclassifications out of accumulated other comprehensive loss, net of income taxes, for the years ended December 31, 2021, 2020 and 2019 are as follows:

 

 

 

Amount Reclassified from Accumulated Other Comprehensive Loss

 

 

 

 

 

2021

 

 

 

2020

 

 

 

2019

 

 

Recognized
Location

Losses on cash flow hedges

 

 

 

 

 

 

 

 

 

 

 

FX Forward Contracts

 

$

(1.1

)

 

$

(0.3

)

 

$

(3.1

)

 

Cost of sales

Total before income taxes

 

 

(1.1

)

 

 

(0.3

)

 

 

(3.1

)

 

 

Provision for income taxes

 

 

 

 

 

 

 

 

 

 

 

Total, net of income taxes

 

$

(1.1

)

 

$

(0.3

)

 

$

(3.1

)

 

 

Amortization of pension and
   postretirement items

 

 

 

 

 

 

 

 

 

 

 

Actuarial losses

 

$

(4.7

)

 

$

(4.5

)

 

$

(4.6

)

(a)

Other expense - net

Amortization of prior service cost

 

 

2.6

 

 

 

2.6

 

 

 

2.8

 

(a)

Other expense - net

Pension settlement charge

 

 

0.9

 

 

 

 

 

 

 

(a)

Other expense - net

Total before income taxes

 

 

(1.2

)

 

 

(1.9

)

 

 

(1.8

)

 

 

Benefit for income taxes

 

 

0.1

 

 

 

 

 

 

 

 

 

Total, net of income taxes

 

$

(1.1

)

 

$

(1.9

)

 

$

(1.8

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total reclassifications for the period, net
   of income taxes

 

$

(2.2

)

 

$

(2.2

)

 

$

(4.9

)

 

 

 

(a) These accumulated other comprehensive loss components are components of net periodic pension cost (see Note 22, “Employee Benefit Plans,” for further details).