|
9. OTHER COMPREHENSIVE INCOME (LOSS) INFORMATION |
Comprehensive income (loss) includes net income, foreign currency translation adjustments, unrecognized gains and losses on securities, defined benefit pension and postretirement plan adjustments, gains and losses on derivative instruments designated and effective as cash flow hedges and non-derivative instruments designated and effective as foreign currency net investment hedges that are charged or credited to the accumulated other comprehensive loss account in shareholders’ equity.
The following table provides other comprehensive income (loss) information related to the company’s derivatives and hedging instruments and pension and postretirement benefits.
See Note 8 for additional information related to the company’s derivatives and hedging transactions. See Note 16 for additional information related to the company’s recognition of net actuarial losses and amortization of prior service benefits.
|
MILLIONS |
|
2013 |
|
2012 |
|
2011 |
| |||
|
|
|
|
|
|
|
|
| |||
|
Derivative & Hedging Instruments |
|
|
|
|
|
|
| |||
|
Unrealized gains (losses) on derivative & hedging instruments |
|
$ |
4.7 |
|
$ |
(1.9) |
|
$ |
(24.3 |
) |
|
(Gains) losses reclassified from AOCI into income |
|
|
|
|
|
|
| |||
|
Sales |
|
— |
|
0.1 |
|
0.3 |
| |||
|
Cost of sales |
|
0.8 |
|
(2.0) |
|
4.7 |
| |||
|
SG&A |
|
— |
|
(0.2) |
|
1.5 |
| |||
|
Interest expense, net |
|
4.1 |
|
4.1 |
|
0.8 |
| |||
|
|
|
4.9 |
|
2.0 |
|
7.3 |
| |||
|
Translation & other insignificant activity |
|
0.9 |
|
0.5 |
|
(0.4 |
) | |||
|
Tax impact |
|
(3.5) |
|
(0.7) |
|
7.2 |
| |||
|
Net of tax |
|
$ |
7.0 |
|
$ |
(0.1) |
|
$ |
(10.2 |
) |
|
Pension & Postretirement Benefits |
|
|
|
|
|
|
| |||
|
Amount recognized in AOCI |
|
|
|
|
|
|
| |||
|
Current period net actuarial income (loss) and prior service costs |
|
$ |
528.2 |
|
$ |
(238.6) |
|
$ |
(183.4 |
) |
|
Amount reclassified from AOCI |
|
|
|
|
|
|
| |||
|
Amortization of net actuarial loss and prior service costs and benefits adjustments |
|
72.9 |
|
50.3 |
|
36.1 |
| |||
|
|
|
601.1 |
|
(188.3) |
|
(147.3 |
) | |||
|
Tax impact |
|
(218.2) |
|
57.1 |
|
60.0 |
| |||
|
Net of tax |
|
$ |
382.9 |
|
$ |
(131.2) |
|
$ |
(87.3 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
The derivative losses reclassified from AOCI into income, net of tax, were $3.2 million, $1.1 million and $5.1 million in 2013, 2012 and 2011, respectively. The pension and postretirement net actuarial loss and prior service cost reclassified from AOCI into income, net of tax, was $46.4 million, $35.0 million and $21.4 million in 2013, 2012 and 2011, respectively.