Accumulated Other Comprehensive Loss (Tables)

9 Months Ended

Sep. 30, 2020

Equity [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss)

The following table presents the changes in the accumulated balances for each component of AOCI for the periods presented (in millions of dollars):

	Quarter Ended September 30,						Nine Months Ended September 30,
	2020			2019			2020			2019
Defined Benefit Pension Plan and Salaried VEBA:
Beginning balance	$	(31.2	)	$	(33.4	)	$	(33.2	)	$	(35.6	)
Amortization of net actuarial loss1		—			0.1			0.2			0.3
Amortization of prior service cost1		1.2			1.4			3.5			4.2
Less: income tax expense2		(0.3	)		(0.3	)		(0.9	)		(1.1	)
Net amortization reclassified from AOCI to Net income		0.9			1.2			2.8			3.4
Translation impact on Canadian pension plan AOCI balance		(0.1	)		—			—			—
Other comprehensive income, net of tax		0.8			1.2			2.8			3.4
Ending balance	$	(30.4	)	$	(32.2	)	$	(30.4	)	$	(32.2	)
Available for Sale Securities:
Beginning balance	$	(0.2	)	$	—		$	0.3		$	0.3
Unrealized gain on available for sale securities		—			1.0			1.4			2.7
Less: income tax expense		—			(0.3	)		(0.3	)		(0.7	)
Net unrealized gain on available for sale securities		—			0.7			1.1			2.0
Reclassification of unrealized gain upon sale of available for sale securities3		—			(0.9	)		(2.1	)		(3.0	)
Less: income tax benefit2		—			0.3			0.5			0.8
Net gain reclassified from AOCI to Net income		—			(0.6	)		(1.6	)		(2.2	)
Other comprehensive income (loss), net of tax		—			0.1			(0.5	)		(0.2	)
Ending balance	$	(0.2	)	$	0.1		$	(0.2	)	$	0.1
Cash Flow Hedges:
Beginning balance	$	(10.7	)	$	(8.8	)	$	(5.6	)	$	(13.4	)
Unrealized gain (loss) on cash flow hedges		7.8			(8.4	)		(16.0	)		(11.1	)
Less: income tax (expense) benefit		(1.9	)		2.1			4.0			2.7
Net unrealized gain (loss) on cash flow hedges		5.9			(6.3	)		(12.0	)		(8.4	)
Reclassification of unrealized loss upon settlement of cash flow hedges4		1.8			5.4			18.1			14.3
Reclassification due to forecasted transactions no longer probable of occurring4		0.1			—			0.8			—
Less: income tax expense2		(0.5	)		(1.3	)		(4.7	)		(3.5	)
Net loss reclassified from AOCI to Net income		1.4			4.1			14.2			10.8
Other comprehensive income (loss), net of tax		7.3			(2.2	)		2.2			2.4
Ending balance	$	(3.4	)	$	(11.0	)	$	(3.4	)	$	(11.0	)
Fair Value Hedges:
Beginning balance	$	—		$	—		$	—		$	—
Unrealized loss on fair value hedges		—			—			(1.0	)		—
Less: income tax benefit		—			—			0.2			—
Net unrealized loss on fair value hedges		—			—			(0.8	)		—
Excluded component amortized from OCI to Net income5		—			—			0.4			—
Reclassification due to cancellation of firm commitment5		—			—			0.6			—
Less: income tax expense2		—			—			(0.2	)		—
Net loss reclassified from AOCI to Net income		—			—			0.8			—
Other comprehensive income, net of tax		—			—			—			—
Ending balance	$	—		$	—		$	—		$	—
Foreign Currency Translation:
Beginning balance	$	(0.1	)	$	(0.1	)	$	(0.1	)	$	(0.1	)
Other comprehensive income, net of tax		0.1			—			0.1			—
Ending balance	$	—		$	(0.1	)	$	—		$	(0.1	)
Total AOCI ending balance	$	(34.0	)	$	(43.2	)	$	(34.0	)	$	(43.2	)

¹ Amounts amortized out of AOCI relating to Salaried VEBA adjustments were included within Other expense, net, as a component of Net periodic postretirement benefit cost relating to Salaried VEBA.

^{2 Income tax amounts reclassified out of AOCI were included as a component of Income tax benefit (provision).}

^{3 Amounts reclassified out of AOCI relating to sales of available for sale securities were included as a component of Other expense, net. We use the specific identification method to determine the amount reclassified out of AOCI.}

^{4 As of September 30, 2020, we estimate a net mark-to-market loss before tax of $0.6 million in AOCI will be reclassified into Net income upon settlement within the next 12 months.}

^{5 As of September 30, 2020, the amount in AOCI that will be reclassified into Net income within the next 12 months was immaterial.}