v3.25.1
Comprehensive Earnings
 3 Months Ended
Mar. 31, 2025
Equity [Abstract]  
Comprehensive Earnings Comprehensive Loss
Accumulated other comprehensive loss, as reflected in the condensed consolidated balance sheets, is comprised of the following:
(In millions)March 31,
2025		December 31,
2024
Accumulated other comprehensive loss:
Net unrealized loss on available-for-sale fixed income securities, net of tax
$(0.8)$(1.2)
Net unrecognized gain and prior service cost related to defined benefit plans, net of tax253.8 254.2 
Net unrecognized loss on derivatives in cash flow hedging relationships, net of tax
9.0 32.3 
Net unrecognized gain on derivatives in net investment hedging relationships, net of tax359.1 492.6 
Foreign currency translation adjustment(3,492.0)(3,990.8)
$(2,870.9)$(3,212.9)
Components of accumulated other comprehensive loss, before tax, consist of the following, for the three months ended March 31, 2025 and 2024:
Three Months Ended March 31, 2025
Gains and Losses on Derivatives in Cash Flow Hedging RelationshipsGains and Losses on Net Investment Hedges
Gains and Losses on Available-for-Sale Fixed Income Securities
Defined Pension Plan ItemsForeign Currency Translation AdjustmentTotals
(In millions)Foreign Currency Forward ContractsInterest Rate SwapsTotal
Balance at December 31, 2024, net of tax$32.3 $492.6 $(1.2)$254.2 $(3,990.8)$(3,212.9)
Other comprehensive (loss) earnings before reclassifications, before tax
(18.8)(173.7)0.6 2.7 498.8 309.6 
Amounts reclassified from accumulated other comprehensive (loss) earnings, before tax:
Gain on foreign exchange forward contracts classified as cash flow hedges, included in net sales(9.9)(9.9)(9.9)
Loss on interest rate swaps classified as cash flow hedges, included in interest expense1.2 1.2 1.2 
Amortization of actuarial gain included in SG&A (2.9)(2.9)
Net other comprehensive (loss) earnings, before tax(27.5)(173.7)0.6 (0.2)498.8 298.0 
Income tax (benefit) provision
(4.2)(40.2)0.2 0.2 — (44.0)
Balance at March 31, 2025, net of tax$9.0 $359.1 $(0.8)$253.8 $(3,492.0)$(2,870.9)
Three Months Ended March 31, 2024
Gains and Losses on Derivatives in Cash Flow Hedging RelationshipsGains and Losses on Net Investment Hedges
Gains and Losses on Available-for-Sale Fixed Income Securities
Defined Pension Plan ItemsForeign Currency Translation AdjustmentTotals
(In millions)Foreign Currency Forward ContractsInterest Rate SwapsTotal
Balance at December 31, 2023, net of tax$(8.0)$237.1 $(1.2)$271.4 $(3,246.7)$(2,747.4)
Other comprehensive earnings (loss) before reclassifications, before tax33.7 169.1 (0.3)(2.4)(342.5)(142.4)
Amounts reclassified from accumulated other comprehensive (loss) earnings, before tax:
Gain on foreign exchange forward contracts classified as cash flow hedges, included in net sales(6.6)(6.6)(6.6)
Loss on interest rate swaps classified as cash flow hedges, included in interest expense1.6 1.6 1.6 
Amortization of prior service costs included in SG&A 0.5 0.5 
Amortization of actuarial gain included in SG&A (4.3)(4.3)
Net other comprehensive earnings (loss), before tax28.7 169.1 (0.3)(6.2)(342.5)(151.2)
Income tax provision (benefit)7.1 36.6 (0.1)(1.2)— 42.4 
Balance at March 31, 2024, net of tax$13.6 $369.6 $(1.4)$266.4 $(3,589.2)$(2,941.0)