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Accumulated Other Comprehensive (Loss) Income
 3 Months Ended
Apr. 01, 2017
Equity [Abstract]  
Accumulated Other Comprehensive (Loss) Income

Note 8—Accumulated Other Comprehensive (Loss) Income

Changes in accumulated other comprehensive (loss) income (“AOCI”) by component for the three months ended April 1, 2017 and April 2, 2016 were as follows:

 

(in millions of U.S. dollars)1

    Gains and Losses
on Derivative
Instruments		      Pension
Benefit
Plan Items		      Currency
Translation
Adjustment Items		      Total  

Beginning balance January 2, 2016

    $ (4.7 )     $ (10.1 )     $ (61.4 )     $ (76.2 ) 
  

 

 

     

 

 

     

 

 

     

 

 

  

OCI before reclassifications

      1.5        —          (3.2 )       (1.7 ) 

Amounts reclassified from AOCI

      (1.0 )       0.1        —          (0.9 ) 
  

 

 

     

 

 

     

 

 

     

 

 

  

Net current-period OCI

      0.5        0.1        (3.2 )       (2.6 ) 
  

 

 

     

 

 

     

 

 

     

 

 

  

Ending balance April 2, 2016

    $ (4.2 )     $ (10.0 )     $ (64.6 )     $ (78.8 ) 
  

 

 

     

 

 

     

 

 

     

 

 

  

Beginning balance December 31, 2016

    $ (0.1 )     $ (14.4 )     $ (103.4 )     $ (117.9 ) 
  

 

 

     

 

 

     

 

 

     

 

 

  

OCI before reclassifications

      3.1        —          9.7        12.8  

Amounts reclassified from AOCI

      (0.7 )       0.1        —          (0.6 ) 
  

 

 

     

 

 

     

 

 

     

 

 

  

Net current-period OCI

      2.4        0.1        9.7        12.2  
  

 

 

     

 

 

     

 

 

     

 

 

  

Ending balance April 1, 2017

    $ 2.3      $ (14.3 )     $ (93.7 )     $ (105.7 ) 
  

 

 

     

 

 

     

 

 

     

 

 

  

 

1.  All amounts are net of tax. Amounts in parentheses indicate debits.

The following table summarizes the amounts reclassified from AOCI for the three months ended April 1, 2017 and April 2, 2016, respectively.

 

(in millions of U.S. dollars)

    For the Three Months Ended      Affected Line Item in the Statement

Details About AOCI Components1

    April 1, 2017      April 2, 2016     

Where Net Income Is Presented

Gains and losses on derivative instruments Foreign currency and commodity hedges

    $ 0.7      $ 1.6      Cost of sales
  

 

 

     

 

 

     
   $ 0.7      $ 1.6      Total before taxes
     —          (0.6 )     Tax expense
  

 

 

     

 

 

     
   $ 0.7      $ 1.0      Net of tax
  

 

 

     

 

 

     

Amortization of pension benefit plan items Prior service costs 2

    $ (0.1 )     $ (0.1 )     Cost of sales
  

 

 

     

 

 

     
     (0.1 )       (0.1 )     Total before taxes
     —          —        Tax expense
  

 

 

     

 

 

     
   $ (0.1 )     $ (0.1 )     Net of tax
  

 

 

     

 

 

     

Total reclassifications for the period

    $ 0.6      $ 0.9      Net of tax
  

 

 

     

 

 

     

 

1.  Amounts in parenthesis indicate debits.
2.  These AOCI components are included in the computation of net periodic pension cost.