Accumulated Other Comprehensive LossThe following table provides details of comprehensive income (loss) for the six months ended June 30, 2025 and 2024: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (In millions) | | Unrecognized Pension Items | | Cumulative Translation Adjustment(1) | | Unrecognized Losses on Derivative Instruments for net investment hedge | | Unrecognized Gains (Losses) on Derivative Instruments for cash flow hedge | | | | Accumulated Other Comprehensive Loss, Net of Taxes | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Balance at December 31, 2024 | | $ | (141.8) | | | $ | (917.1) | | | $ | (20.7) | | | $ | 3.7 | | | | | $ | (1,075.9) | | Other comprehensive income (loss) before reclassifications | | — | | | 190.7 | | | (45.7) | | | (3.9) | | | | | 141.1 | | Less: amounts reclassified from accumulated other comprehensive loss | | 1.7 | | | — | | | — | | | (0.3) | | | | | 1.4 | | Net current period other comprehensive income (loss) | | 1.7 | | | 190.7 | | | (45.7) | | | (4.2) | | | | | 142.5 | | Balance at June 30, 2025 | | $ | (140.1) | | | $ | (726.4) | | | $ | (66.4) | | | $ | (0.5) | | | | | $ | (933.4) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Balance at December 31, 2023 | | $ | (146.4) | | | $ | (770.6) | | | $ | (38.1) | | | $ | (0.4) | | | | | $ | (955.5) | | Other comprehensive (loss) income before reclassifications | | (0.1) | | | (70.4) | | | 12.0 | | | 2.3 | | | | | (56.2) | | Less: amounts reclassified from accumulated other comprehensive loss | | 2.0 | | | — | | | — | | | (0.7) | | | | | 1.3 | | Net current period other comprehensive income (loss) | | 1.9 | | | (70.4) | | | 12.0 | | | 1.6 | | | | | (54.9) | | Balance at June 30, 2024 | | $ | (144.5) | | | $ | (841.0) | | | $ | (26.1) | | | $ | 1.2 | | | | | $ | (1,010.4) | |
(1)Includes gains and losses on intra-entity foreign currency transactions. The intra-entity currency translation adjustment was $43.8 million and $11.8 million for the six months ended June 30, 2025 and 2024, respectively. The following table provides detail of amounts reclassified from AOCL: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | | (In millions) | | 2025 | | 2024 | | 2025 | | 2024 | | Location of Amount Reclassified from AOCL | Defined benefit pension plans and other post-employment benefits: | | | | | | | | | | | Net settlement income | | $ | — | | | $ | — | | | $ | 0.1 | | | $ | — | | | | Prior service cost | | 0.1 | | | 0.2 | | | 0.1 | | | 0.2 | | | | Actuarial losses, net | | (1.2) | | | (1.4) | | | (2.4) | | | (2.8) | | | | Total pre-tax amount | | (1.1) | | | (1.2) | | | (2.2) | | | (2.6) | | | Other expense, net | Tax benefit | | 0.2 | | | 0.3 | | | 0.5 | | | 0.6 | | | | Net of tax | | (0.9) | | | (0.9) | | | (1.7) | | | (2.0) | | | | | | | | | | | | | | | | | | | | | | | | | | Net (losses) gains on cash flow hedging derivatives:(1) | | | | | | | | | | | Foreign currency forward contracts | | (3.3) | | | 1.0 | | | 0.3 | | | 0.8 | | | Cost of sales | | | | | | | | | | | | Treasury locks | | 0.1 | | | 0.1 | | | 0.1 | | | 0.1 | | | Interest expense, net | Total pre-tax amount | | (3.2) | | | 1.1 | | | 0.4 | | | 0.9 | | | | Tax benefit (expense) | | 1.0 | | | (0.3) | | | (0.1) | | | (0.2) | | | | Net of tax | | (2.2) | | | 0.8 | | | 0.3 | | | 0.7 | | | | Total reclassifications for the period | | $ | (3.1) | | | $ | (0.1) | | | $ | (1.4) | | | $ | (1.3) | | | |
(1)These accumulated other comprehensive components are included in our derivative and hedging activities. See Note 14, “Derivatives and Hedging Activities,” for additional details.
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