XML 39 R28.htm IDEA: XBRL DOCUMENT v3.22.2
Accumulated Other Comprehensive (Loss) Income (Tables)
 6 Months Ended
Jun. 30, 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 June 30,

 

 

Six Months Ended June 30,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Defined Benefit Pension Plan and Salaried VEBA:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Beginning balance

 

$

(20.5

)

 

$

(19.1

)

 

$

(21.4

)

 

$

(19.8

)

Amortization of net actuarial loss1

 

 

—

 

 

 

0.1

 

 

 

—

 

 

 

0.2

 

Amortization of prior service cost1

 

 

1.3

 

 

 

0.8

 

 

 

2.5

 

 

 

1.7

 

Less: income tax expense2

 

 

(0.4

)

 

 

(0.2

)

 

 

(0.7

)

 

 

(0.5

)

Other comprehensive income, net of tax

 

 

0.9

 

 

 

0.7

 

 

 

1.8

 

 

 

1.4

 

Ending balance

 

$

(19.6

)

 

$

(18.4

)

 

$

(19.6

)

 

$

(18.4

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash Flow Hedges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Beginning balance

 

$

34.8

 

 

$

9.6

 

 

$

17.7

 

 

$

1.1

 

Unrealized (loss) gain on cash flow hedges

 

 

(50.7

)

 

 

28.4

 

 

 

(8.4

)

 

 

42.3

 

Less: income tax benefit (expense)

 

 

12.0

 

 

 

(6.7

)

 

 

2.0

 

 

 

(10.0

)

Net unrealized (loss) gain on cash flow hedges

 

 

(38.7

)

 

 

21.7

 

 

 

(6.4

)

 

 

32.3

 

Reclassification of unrealized loss (gain) upon settlement of cash flow hedges

 

 

2.9

 

 

 

(8.7

)

 

 

(17.0

)

 

 

(11.4

)

Less: income tax (expense) benefit2

 

 

(0.7

)

 

 

2.2

 

 

 

4.0

 

 

 

2.8

 

Net loss (gain) reclassified from AOCI to Net loss

 

 

2.2

 

 

 

(6.5

)

 

 

(13.0

)

 

 

(8.6

)

Other comprehensive (loss) income, net of tax

 

 

(36.5

)

 

 

15.2

 

 

 

(19.4

)

 

 

23.7

 

Ending balance3

 

$

(1.7

)

 

$

24.8

 

 

$

(1.7

)

 

$

24.8

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Foreign Currency Translation:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Beginning balance

 

$

—

 

 

$

(0.1

)

 

$

—

 

 

$

—

 

Other comprehensive income (loss), net of tax

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(0.1

)

Ending balance

 

$

—

 

 

$

(0.1

)

 

$

—

 

 

$

(0.1

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total AOCI ending balance

 

$

(21.3

)

 

$

6.3

 

 

$

(21.3

)

 

$

6.3

 

 

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.

3        As of June 30, 2022, we estimate a net mark-to-market loss before tax of $6.0 million in AOCI will be reclassified into Net loss upon settlement within the next 12 months.