Accumulated Other Comprehensive Income (Loss) (Tables)

3 Months Ended

Mar. 31, 2022

Equity [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss)

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

	Quarter Ended March 31,
	2022			2021
Defined Benefit Pension Plan and Salaried VEBA:
Beginning balance	$	(21.4	)	$	(19.8	)
Amortization of net actuarial loss1		—			0.1
Amortization of prior service cost1		1.2			0.9
Less: income tax expense2		(0.3	)		(0.3	)
Other comprehensive income, net of tax		0.9			0.7
Ending balance	$	(20.5	)	$	(19.1	)
Cash Flow Hedges:
Beginning balance	$	17.7		$	1.1
Unrealized gain on cash flow hedges		42.3			13.9
Less: income tax expense		(10.0	)		(3.3	)
Net unrealized gain on cash flow hedges		32.3			10.6
Reclassification of unrealized gain upon settlement of cash flow hedges		(19.9	)		(2.7	)
Less: income tax benefit2		4.7			0.6
Net gain reclassified from AOCI to Net income		(15.2	)		(2.1	)
Other comprehensive income, net of tax		17.1			8.5
Ending balance3	$	34.8		$	9.6
Foreign Currency Translation:
Beginning balance	$	—		$	—
Other comprehensive income (loss), net of tax		—			(0.1	)
Ending balance	$	—		$	(0.1	)
Total AOCI ending balance	$	14.3		$	(9.6	)

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 (provision) benefit.

³ As of March 31, 2022, we estimate a net mark-to-market gain before tax of $41.6 million in AOCI will be reclassified into Net income upon settlement within the next 12 months.