Note 17 — Accumulated Other Comprehensive Loss Comprehensive income represents net income and other gains and losses affecting stockholders’ equity that are not reflected in the Consolidated Statements of Operations. The components of accumulated other comprehensive loss as of December 31, 2025 and 2024 were as follows:
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Unrecognized
Net Defined
Benefit |
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Change in
Fair Value
of Derivatives |
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Foreign
Currency |
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(In millions) |
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Plan Costs |
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Products |
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Translation |
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Total |
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Balance at December 31, 2023 |
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$ |
1.0 |
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$ |
5.7 |
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$ |
(80.8 |
) |
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$ |
(74.1 |
) |
Other comprehensive income (loss) before reclassifications |
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(1.4 |
) |
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(16.1 |
) |
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(29.1 |
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(46.6 |
) |
Amounts reclassified from accumulated other comprehensive
loss |
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(0.3 |
) |
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6.0 |
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— |
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5.7 |
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Other comprehensive income (loss) |
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(1.7 |
) |
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(10.1 |
) |
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(29.1 |
) |
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(40.9 |
) |
Balance at December 31, 2024 |
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$ |
(0.7 |
) |
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$ |
(4.4 |
) |
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$ |
(109.9 |
) |
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$ |
(115.0 |
) |
Other comprehensive (loss) income before reclassifications |
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1.5 |
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14.7 |
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87.0 |
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103.2 |
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Amounts reclassified from accumulated other comprehensive
loss |
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(1.9 |
) |
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0.8 |
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— |
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(1.1 |
) |
Other comprehensive loss |
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(0.4 |
) |
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15.5 |
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87.0 |
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102.1 |
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Balance at December 31, 2025 |
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$ |
(1.1 |
) |
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$ |
11.1 |
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$ |
(23.0 |
) |
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$ |
(12.9 |
) |
The amount of net (gains) losses reclassified to earnings from the unrecognized net defined benefit and postretirement plan costs and derivative products components of accumulated other comprehensive loss for the years ended December 31, 2025, 2024 and 2023 were as follows:
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Year Ended December 31, 2025 |
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Year Ended December 31, 2024 |
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Year Ended December 31, 2023 |
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(In millions) |
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Pre-tax (gain) loss |
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Net of tax (gain) loss |
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Pre-tax (gain) loss |
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Net of tax (gain) loss |
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Pre-tax (gain) loss |
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Net of tax (gain) loss |
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Defined Benefit and Postretirement Plan Costs |
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$ |
(2.1 |
) |
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$ |
(1.9 |
) |
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$ |
(0.4 |
) |
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$ |
(0.3 |
) |
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$ |
72.3 |
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$ |
54.3 |
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Derivative Products |
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Foreign currency forward exchange contracts |
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(8.9 |
) |
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(6.6 |
) |
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1.5 |
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1.1 |
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10.9 |
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8.0 |
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Commodity swaps |
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2.9 |
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2.3 |
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0.7 |
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0.5 |
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5.3 |
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4.0 |
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Interest rate swaps |
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6.7 |
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5.1 |
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5.7 |
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4.4 |
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0.7 |
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0.5 |
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Total Derivative Products |
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$ |
0.7 |
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$ |
0.8 |
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$ |
7.9 |
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$ |
6.0 |
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$ |
16.9 |
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$ |
12.5 |
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