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Shareholders' Equity and Comprehensive Earnings (Tables)
 6 Months Ended
Jun. 30, 2014
Shareholders' Equity and Comprehensive Earnings  
Schedule of activity related to accumulated other comprehensive earnings (loss)

 

 

($ in millions)

 

Foreign
Currency
Translation

 

Pension and
Other
Postretirement
Benefits
(Net of Tax)

 

Effective
Derivatives
(Net of Tax)

 

Accumulated
Other
Comprehensive
Earnings (Loss)

 

 

 

 

 

 

 

 

 

 

 

Balance at December 31, 2013 (a)

 

$

180.7

 

$

(391.8

)

$

(38.8

)

$

(249.9

)

Other comprehensive earnings (loss) before reclassifications

 

(30.6

)

0.2

 

3.9

 

(26.5

)

Amounts reclassified from accumulated other comprehensive earnings (loss)

 

—

 

10.7

 

12.6

 

23.3

 

Balance at June 30, 2014

 

$

150.1

 

$

(380.9

)

$

(22.3

)

$

(253.1

)

 

(a)       2013 amounts have been revised; further details are included in the “Revision of Prior Period Financial Statements Related to Deferred Taxes” section of Note 1.
Information related to amounts recognized into net earnings from AOCI

 

 

 

 

Three Months Ended June 30,

 

Six Months Ended June 30,

 

($ in millions)

 

2014

 

2013

 

2014

 

2013

 

 

 

 

 

 

 

 

 

 

 

Gains (losses) on cash flow hedges:

 

 

 

 

 

 

 

 

 

Commodity contracts recorded in net sales

 

$

(1.3

)

$

3.0

 

$

(0.5

)

$

2.4

 

Commodity contracts and currency exchange contracts recorded in cost of sales

 

(6.4

)

(6.1

)

(13.9

)

(10.4

)

Interest rate contracts recorded in interest expense

 

—

 

(0.2

)

(0.3

)

(0.5

)

Total before tax effect

 

(7.7

)

(3.3

)

(14.7

)

(8.5

)

Tax benefit (expense) on amounts reclassified into earnings

 

1.2

 

0.9

 

2.1

 

2.6

 

Recognized gain (loss)

 

$

(6.5

)

$

(2.4

)

$

(12.6

)

$

(5.9

)

 

 

 

 

 

 

 

 

 

 

Amortization of pension and other postretirement benefits (a):

 

 

 

 

 

 

 

 

 

Prior service income (cost)

 

$

0.1

 

$

0.1

 

$

0.2

 

$

0.2

 

Actuarial gains (losses)

 

(8.6

)

(11.9

)

(17.1

)

(23.8

)

Total before tax effect

 

(8.5

)

(11.8

)

(16.9

)

(23.6

)

Tax benefit (expense) on amounts reclassified into earnings

 

3.1

 

4.6

 

6.2

 

9.2

 

Recognized gain (loss)

 

$

(5.4

)

$

(7.2

)

$

(10.7

)

$

(14.4

)

 

(a)       These components are included in the computation of net periodic benefit cost included in Note 11.