NOTE 14 – RECLASSIFICATIONS OUT OF ACCUMULATED OTHER COMPREHENSIVE LOSS Reclassifications out of accumulated other comprehensive loss (“AOCL”) for the first six months of 2025 were:
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|
(in millions)
Details about AOCL Components |
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Amount
Reclassified
from AOCL |
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|
Affected Line Item in the
Statement where
Net Income is Presented |
Defined benefit pension plan items: |
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|
|
|
|
Amortization of prior service cost |
|
$ |
— |
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|
See (1) below |
Amortization of actuarial net gains |
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|
— |
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See (1) below |
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|
|
— |
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Total before tax |
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|
|
— |
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Income tax expense |
Total reclassifications |
|
$ |
— |
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|
Net of tax |
(1)These items are included in other income and expense. See Note 6 of the Notes to the Condensed Consolidated Financial Statements for additional information. Changes in AOCL for the first six months of 2025, net of tax, were:
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|
(in millions) |
|
Defined
Benefit
Pension
Plan Items |
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|
Cumulative
Translation
Adjustments |
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|
Total |
|
Balance at December 31, 2024 |
|
$ |
— |
|
|
$ |
(91.0 |
) |
|
$ |
(91.0 |
) |
Other comprehensive income/(loss) before reclassifications |
|
|
— |
|
|
|
57.6 |
|
|
|
57.6 |
|
Amounts reclassified from AOCL |
|
|
— |
|
|
|
— |
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|
|
— |
|
Total other comprehensive income/(loss) |
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|
— |
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|
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57.6 |
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|
57.6 |
|
Balance at June 30, 2025 |
|
$ |
— |
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|
$ |
(33.4 |
) |
|
$ |
(33.4 |
) |
Reclassifications out of AOCL for the first six months of 2024 were:
|
|
|
|
|
|
|
(in millions)
Details about AOCL Components |
|
Amount
Reclassified
from AOCL |
|
|
Affected Line Item in the
Statement where
Net Income is Presented |
Defined benefit pension plan items: |
|
|
|
|
|
Amortization of prior service cost |
|
$ |
0.3 |
|
|
See (1) below |
Amortization of actuarial net gains |
|
|
(0.1 |
) |
|
See (1) below |
|
|
|
0.2 |
|
|
Total before tax |
|
|
|
(0.1 |
) |
|
Income tax expense |
Total reclassifications |
|
$ |
0.1 |
|
|
Net of tax |
(1)These items are included in other income and expense. See Note 6 of the Notes to the Condensed Consolidated Financial Statements for additional information. Changes in AOCL for the first six months of 2024, net of tax, were:
|
|
|
|
|
|
|
|
|
|
|
|
|
(in millions) |
|
Defined
Benefit
Pension
Plan Items |
|
|
Cumulative
Translation
Adjustments |
|
|
Total |
|
Balance at December 31, 2023 |
|
$ |
(77.2 |
) |
|
$ |
(70.9 |
) |
|
$ |
(148.1 |
) |
Other comprehensive income/(loss) before reclassifications |
|
|
— |
|
|
|
(12.6 |
) |
|
|
(12.6 |
) |
Amounts reclassified from AOCL |
|
|
0.1 |
|
|
|
— |
|
|
|
0.1 |
|
Total other comprehensive income/(loss) |
|
|
0.1 |
|
|
|
(12.6 |
) |
|
|
(12.5 |
) |
Balance at June 30, 2024 |
|
$ |
(77.1 |
) |
|
$ |
(83.5 |
) |
|
$ |
(160.6 |
) |
|