(In Millions) | |||||||||||
Pre-tax Amount | Tax Benefit (Provision) | After-tax Amount | |||||||||
As of December 31, 2011: | |||||||||||
Postretirement benefit liability | $ | (615.9 | ) | $ | 207.0 | $ | (408.9 | ) | |||
Foreign currency translation adjustments | 312.5 | — | 312.5 | ||||||||
Unrealized net gain on derivative financial instruments | 1.7 | (0.5 | ) | 1.2 | |||||||
Unrealized gain on securities | 2.5 | 0.1 | 2.6 | ||||||||
$ | (299.2 | ) | $ | 206.6 | $ | (92.6 | ) | ||||
As of December 31, 2012: | |||||||||||
Postretirement benefit liability | $ | (576.7 | ) | $ | 194.0 | $ | (382.7 | ) | |||
Foreign currency translation adjustments | 316.3 | — | 316.3 | ||||||||
Unrealized net gain on derivative financial instruments | 12.4 | (3.7 | ) | 8.7 | |||||||
Unrealized gain on securities | 3.3 | (1.2 | ) | 2.1 | |||||||
$ | (244.7 | ) | $ | 189.1 | $ | (55.6 | ) | ||||
As of December 31, 2013: | |||||||||||
Postretirement benefit liability | $ | (299.3 | ) | $ | 94.4 | $ | (204.9 | ) | |||
Foreign currency translation adjustments | 106.7 | — | 106.7 | ||||||||
Unrealized net loss on derivative financial instruments | (30.0 | ) | 9.1 | (20.9 | ) | ||||||
Unrealized gain on securities | 9.3 | (3.1 | ) | 6.2 | |||||||
$ | (213.3 | ) | $ | 100.4 | $ | (112.9 | ) |
(In Millions) | |||||||||||||||||||
Postretirement Benefit Liability, net of tax | Unrealized Net Gain (Loss) on Securities, net of tax | Unrealized Net Gain (Loss) on Foreign Currency Translation | Net Unrealized Gain (Loss) on Derivative Financial Instruments, net of tax | Accumulated Other Comprehensive Income (Loss) | |||||||||||||||
Balance December 31, 2012 | $ | (382.7 | ) | $ | 2.1 | $ | 316.3 | $ | 8.7 | $ | (55.6 | ) | |||||||
Other comprehensive income (loss) before reclassifications | (1.1 | ) | 2.5 | 3.3 | (5.0 | ) | (0.3 | ) | |||||||||||
Net loss (gain) reclassified from accumulated other comprehensive income (loss) | 6.4 | 0.1 | — | (2.0 | ) | 4.5 | |||||||||||||
Balance March 31, 2013 | $ | (377.4 | ) | $ | 4.7 | $ | 319.6 | $ | 1.7 | $ | (51.4 | ) | |||||||
Other comprehensive loss before reclassifications | (1.5 | ) | (2.0 | ) | (152.0 | ) | (42.2 | ) | (197.7 | ) | |||||||||
Net loss (gain) reclassified from accumulated other comprehensive income (loss) | 8.1 | 3.6 | — | (2.2 | ) | 9.5 | |||||||||||||
Balance June 30, 2013 | $ | (370.8 | ) | $ | 6.3 | $ | 167.6 | $ | (42.7 | ) | $ | (239.6 | ) | ||||||
Other comprehensive income (loss) before reclassifications | (0.6 | ) | 3.5 | 22.8 | 12.1 | 37.8 | |||||||||||||
Net loss (gain) reclassified from accumulated other comprehensive income (loss) | 6.3 | 0.9 | — | 16.2 | 23.4 | ||||||||||||||
Balance September 30, 2013 | $ | (365.1 | ) | $ | 10.7 | $ | 190.4 | $ | (14.4 | ) | $ | (178.4 | ) | ||||||
Other comprehensive income (loss) before reclassifications | $ | 154.5 | $ | (4.9 | ) | $ | (83.7 | ) | $ | (16.6 | ) | $ | 49.3 | ||||||
Net loss (gain) reclassified from accumulated other comprehensive income (loss) | $ | 5.7 | $ | 0.4 | $ | — | $ | 10.1 | $ | 16.2 | |||||||||
Balance December 31, 2013 | $ | (204.9 | ) | $ | 6.2 | $ | 106.7 | $ | (20.9 | ) | $ | (112.9 | ) |
(In Millions) | |||||||||||||||||||
Postretirement Benefit Liability, net of tax | Unrealized Net Gain (Loss) on Securities, net of tax | Unrealized Net Gain on Foreign Currency Translation | Net Unrealized Gain on Derivative Financial Instruments, net of tax | Accumulated Other Comprehensive Income (Loss) | |||||||||||||||
Balance December 31, 2010 | $ | (305.1 | ) | $ | 33.6 | $ | 314.7 | $ | 2.7 | $ | 45.9 | ||||||||
Change during 2011 | $ | (103.8 | ) | $ | (31.0 | ) | $ | (2.2 | ) | $ | (1.5 | ) | $ | (138.5 | ) | ||||
Balance December 31, 2011 | $ | (408.9 | ) | $ | 2.6 | $ | 312.5 | $ | 1.2 | $ | (92.6 | ) | |||||||
Change during 2012 | 26.2 | (0.5 | ) | 3.8 | 7.5 | 37.0 | |||||||||||||
Balance December 31, 2012 | $ | (382.7 | ) | $ | 2.1 | $ | 316.3 | $ | 8.7 | $ | (55.6 | ) |
(In Millions) | ||||||
Details about Accumulated Other Comprehensive Income (Loss) Components | Amount of (Gain)/Loss Reclassified into Income | Affected Line Item in the Statement of Unaudited Condensed Consolidated Operations | ||||
Year Ended December 31, 2013 | ||||||
Amortization of Pension and Postretirement Benefit Liability: | ||||||
Prior-service costs | $ | (0.6 | ) | (1) | ||
Net actuarial loss | 41.4 | (1) | ||||
40.8 | Total before taxes | |||||
(14.3 | ) | Income tax expense | ||||
$ | 26.5 | Net of taxes | ||||
Unrealized gain (loss) on marketable securities: | ||||||
Sale of marketable securities | $ | (0.2 | ) | Other non-operating income (expense) | ||
Impairment | 5.3 | Other non-operating income (expense) | ||||
5.1 | Total before taxes | |||||
(0.1 | ) | Income tax expense | ||||
$ | 5.0 | Net of taxes | ||||
Unrealized gain (loss) on derivative financial instruments: | ||||||
Australian dollar foreign exchange contracts | $ | 17.0 | Product revenues | |||
Canadian dollar foreign exchange contracts | 15.3 | Cost of goods sold and operating expenses | ||||
32.3 | Total before taxes | |||||
(10.2 | ) | Income tax expense | ||||
$ | 22.1 | Net of taxes | ||||
Total Reclassifications for the Period | $ | 53.6 |
(1) | These accumulated other comprehensive income components are included in the net periodic benefit cost recognized for the year ended December 31, 2013. See NOTE 13 - PENSIONS AND OTHER POSTRETIREMENT BENEFITS for further information. |