Accumulated Other Comprehensive Income (Loss)

12 Months Ended

Dec. 31, 2011

Accumulated Other Comprehensive Income (Loss)

Accumulated Other Comprehensive Income (Loss)

Note 20—Accumulated Other Comprehensive Income (Loss)

        Other comprehensive income (loss) is derived from adjustments to reflect the accrued post-retirement benefit liability, foreign currency translation adjustments, and unrealized gains (losses) on hedging activities. The components of Other comprehensive (loss) income are as follows:

In millions	Pre-Tax Amount			Tax Expense (Benefit)			After-Tax Amount
Year Ended December 31, 2009
Change in accrued post-retirement benefit liability, net of tax	$	(3.9	)	$	(1.3	)	$	(2.6	)
Change in foreign currency translation		7.8			—			7.8
Gain on hedging activities		(0.6	)		(0.2	)		(0.4	)
Other comprehensive (loss) income	$	3.3		$	(1.5	)	$	4.8
Year Ended December 31, 2010
Accrued post-retirement benefit liability, net of tax	$	4.6		$	1.7		$	2.9
Foreign currency translation		(5.9	)		—			(5.9	)
Loss on hedging activities		(0.6	)		(0.2	)		(0.4	)
Other comprehensive (loss) income	$	(1.9	)	$	1.5		$	(3.4	)
Year Ended December 31, 2011
Accrued post-retirement benefit liability, net of tax	$	9.1		$	3.4		$	5.7
Foreign currency translation		(12.2	)		—			(12.2	)
Loss on hedging activities		(0.6	)		(0.2	)		(0.4	)
Other comprehensive (loss) income	$	(3.7	)	$	3.2		$	(6.9	)

        The accumulated balances for each classification of comprehensive income (loss) are as follows:

In millions	Accrued Post-Retirement Benefit Liability			Foreign Currency Items			Terminated Cash Flow Hedges			Accumulated Other Comprehensive Income (Loss)
Balance at December 31, 2009	$	(49.2	)	$	12.2		$	2.3		$	(34.7	)
Net current period change		1.3			0.1			—			1.4
Reclassification adjustment for realized (gains) losses included in net income		1.5			(6.0	)		(0.3	)		(4.8	)
Balance at December 31, 2010		(46.4	)		6.3			2.0			(38.1	)
Net current period change		2.9			(12.2	)		—			(9.3	)
Reclassification adjustment for realized (gains) losses included in net income		2.8			—			(0.4	)		2.4
Balance at December 31, 2011	$	(40.7	)	$	(5.9	)	$	1.6		$	(45.0	)

        The Company is exposed to the impact of changes in interest rates and market values of its debt instruments, changes in raw material prices and foreign currency exchange rate fluctuations. Management of interest rate exposure includes consideration of the use of treasury lock contracts and interest rate swaps to reduce the volatility of cash flows, the impact on earnings, and to lower the Company's cost of capital.

        On June 15, 2005, the Company entered into treasury lock contracts with a notional amount of $150.0 million to hedge the cash flow variability on forecasted debt interest payments associated with changes in interest rates. These contracts were designated as cash flow hedges and were deemed effective at the origination date. On August 15, 2006, the Company terminated the treasury lock contracts resulting in a gain of $5.6 million ($3.5 million, net of tax), which was deferred in accumulated other comprehensive income and is being amortized to reduce interest expense until August 2016, the term of the interest payments related to the $150.0 million in notes issued on August 18, 2006. At December 31, 2011, the Company had a remaining unamortized gain of $2.6 million ($1.6 million, net of tax) which is reflected in Accumulated other comprehensive income on the Company's Consolidated Balance Sheets.