Shareholders' Equity and Comprehensive Earnings

3 Months Ended

Mar. 31, 2015

Shareholders' Equity and Comprehensive Earnings

Shareholders' Equity and Comprehensive Earnings

13.Shareholders’ Equity and Comprehensive Earnings

Accumulated Other Comprehensive Earnings (Loss)

The activity related to accumulated other comprehensive earnings (loss) was as follows:

($ 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, 2014	$	(18.4	)	$	(499.9	)	$	(3.8	)	$	(522.1	)
Other comprehensive earnings (loss) before reclassifications	(138.6		)	11.6			(1.4		)	(128.4		)
Amounts reclassified from accumulated other comprehensive earnings (loss)	—			7.5			0.9			8.4
Balance at March 31, 2015	$	(157.0	)	$	(480.8	)	$	(4.3	)	$	(642.1	)

The following table provides additional details of the amounts recognized into net earnings from accumulated other comprehensive earnings (loss):

	Three Months Ended March 31,
($ in millions)	2015			2014
Gains (losses) on cash flow hedges:
Commodity contracts recorded in net sales	$	(1.4	)	$	0.8
Commodity contracts and currency exchange contracts recorded in cost of sales	—			(7.5		)
Interest rate contracts recorded in interest expense	(0.2		)	(0.3		)
Total before tax effect	(1.6		)	(7.0		)
Tax benefit (expense) on amounts reclassified into earnings	0.7			0.9
Recognized gain (loss)	$	(0.9	)	$	(6.1	)
Amortization of pension and other postretirement benefits (a):
Prior service income (cost)	$	0.4		$	0.1
Actuarial gains (losses)	(12.3		)	(8.5		)
Total before tax effect	(11.9		)	(8.4		)
Tax benefit (expense) on amounts reclassified into earnings	4.4			3.1
Recognized gain (loss)	$	(7.5	)	$	(5.3	)

(a) These components are included in the computation of net periodic benefit cost included in Note 12.