XML 24 R13.htm IDEA: XBRL DOCUMENT v3.24.3
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
9 Months Ended
Sep. 30, 2024
Equity [Abstract]  
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
Foreign currency translation adjustments, hedging activities and pension and post-retirement benefit adjustments are included in Accumulated Other Comprehensive Income (Loss) ("AOCI"), a component of Total Equity.
The following tables present changes in AOCI by component for the three and nine months ended September 30, 2024 and September 30, 2023:
Three Months Ended
September 30, 2024Hedging ActivitiesPension and Post Retirement Benefit AdjustmentsForeign Currency Translation AdjustmentsTotal
Beginning Balance$16.1 $(25.1)$(307.7)$(316.7)
Other Comprehensive (Loss) Income before Reclassifications(10.9)— 124.3 113.4 
Tax Impact2.6 — — 2.6 
Amounts Reclassified from Accumulated Other Comprehensive (Loss) Income(7.2)0.2 — (7.0)
Tax Impact1.7 (0.1)— 1.6 
Net Current Period Other Comprehensive (Loss) Income(13.8)0.1 124.3 110.6 
Ending Balance$2.3 $(25.0)$(183.4)$(206.1)
September 30, 2023Hedging ActivitiesPension and Post Retirement Benefit AdjustmentsForeign Currency Translation AdjustmentsTotal
Beginning Balance$38.6 $(14.1)$(351.2)$(326.7)
Other Comprehensive Loss before Reclassifications(2.4)— (85.7)(88.1)
Tax Impact0.6 — — 0.6 
Amounts Reclassified from Accumulated Other Comprehensive Loss(3.1)(0.5)— (3.6)
Tax Impact0.7 0.1 — 0.8 
Net Current Period Other Comprehensive Loss (4.2)(0.4)(85.7)(90.3)
Ending Balance$34.4 $(14.5)$(436.9)$(417.0)
Nine Months Ended
September 30, 2024Hedging ActivitiesPension and Post Retirement Benefit AdjustmentsForeign Currency Translation AdjustmentsTotal
Beginning Balance$28.8 $(25.0)$(286.2)$(282.4)
Other Comprehensive Loss before Reclassifications(11.8)(0.5)(18.5)(30.8)
Tax Impact2.8 0.1 — 2.9 
Amounts Reclassified from Accumulated Other Comprehensive (Loss) Income(23.0)0.5 121.3 98.8 
Tax Impact5.5 (0.1)— 5.4 
Net Current Period Other Comprehensive (Loss) Income(26.5)— 102.8 76.3 
Ending Balance$2.3 $(25.0)$(183.4)$(206.1)
September 30, 2023Hedging ActivitiesPension and Post Retirement Benefit AdjustmentsForeign Currency Translation AdjustmentsTotal
Beginning balance$17.3 $(13.3)$(356.1)$(352.1)
Other Comprehensive Income (Loss) before Reclassifications24.6 — (80.8)(56.2)
Tax Impact(5.9)— — (5.9)
Amounts Reclassified from Accumulated Other Comprehensive Loss(2.1)(1.6)— (3.7)
Tax Impact0.5 0.4 — 0.9 
Net Current Period Other Comprehensive Income (Loss)17.1 (1.2)(80.8)(64.9)
Ending Balance$34.4 $(14.5)$(436.9)$(417.0)

The Condensed Consolidated Statements of Income (Loss) line items affected by the hedging activities reclassified from AOCI in the tables above are disclosed in Note 13 - Derivative Financial Instruments.

The reclassification amounts for pension and post-retirement benefit adjustments in the tables above are part of net periodic benefit costs recorded in Other (Income) Expense, Net (see also Note 8 - Retirement Plans).