Note 17: Accumulated Other Comprehensive Income (Loss)
The following is a summary of fiscal 2013 changes in Accumulated OCI by component, net of tax:
| (Amounts in millions) | Foreign Currency Translation |
Cash Flow Hedges |
Defined Benefit Pension and Postretirement Plans |
Total | ||||||||||||
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Balance as of 2012 year end |
$ | 129.7 | $ | 1.7 | $ | (255.6) | $ | (124.2) | ||||||||
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Other comprehensive income before reclassifications |
(8.6) | – | 62.9 | 54.3 | ||||||||||||
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Amounts reclassified from Accumulated OCI |
– | (0.4) | 25.5 | 25.1 | ||||||||||||
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Net other comprehensive income (loss) |
(8.6) | (0.4) | 88.4 | 79.4 | ||||||||||||
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Balance as of 2013 year end |
$ | 121.1 | $ | 1.3 | $ | (167.2) | $ | (44.8) | ||||||||
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The reclassifications out of Accumulated OCI in 2013 are as follows:
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Details about Accumulated OCI Components |
Amount Reclassified from Accumulated OCI |
Statement of Earnings Presentation |
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| (Amounts in millions) | ||||||
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Gains on cash flow hedges: |
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Treasury locks |
$ | 0.4 | Interest expense | |||
| – | Income tax expense | |||||
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| 0.4 | Net of tax | |||||
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Amortization of defined benefit pension plan items: |
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Prior service cost and unrecognized loss |
(40.7) | See footnote below* | ||||
| 15.2 | Income tax expense | |||||
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| (25.5) | Net of tax | |||||
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Total reclassifications for the period |
$ | (25.1) | Net of tax | |||
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| * |
These Accumulated OCI components are included in the computation of net periodic pension cost. See Note 11 for further information. |