10. Accumulated other comprehensive income (loss) The following table presents changes in the components of AOCI: | | | | | | | | | | | | | | | | | | | | | | | | (in millions) | Foreign currency translation | | Derivative instruments | | Defined benefit plans | | Total | Balance at March 31, 2026 | $ | (56.9) | | | $ | — | | | $ | 13.2 | | | $ | (43.7) | | Unrealized (loss) gain | (15.7) | | | 1.8 | | | (0.8) | | | (14.7) | | Reclassification of gain into earnings | — | | | (1.8) | | | — | | | (1.8) | | | Change due to income taxes | 4.8 | | | — | | | 0.2 | | | 5.0 | | Balance at June 30, 2026 | $ | (67.8) | | | $ | — | | | $ | 12.6 | | | $ | (55.2) | | | | | | | | | | Balance at March 31, 2025 | $ | (131.5) | | | $ | 0.1 | | | $ | 13.7 | | | $ | (117.7) | | Unrealized gain (loss) | 90.1 | | | 2.2 | | | (0.4) | | | 91.9 | | Reclassification of gain into earnings | — | | | (2.2) | | | — | | | (2.2) | | | Change due to income taxes | 17.6 | | | — | | | — | | | 17.6 | | Balance at June 30, 2025 | $ | (23.8) | | | $ | 0.1 | | | $ | 13.3 | | | $ | (10.4) | | | | | | | | | | Balance at December 31, 2025 | $ | (31.0) | | | $ | — | | | $ | 14.1 | | | $ | (16.9) | | Unrealized (loss) gain | (37.0) | | | 3.7 | | | (1.9) | | | (35.2) | | Reclassification of gain into earnings | (0.2) | | | (3.7) | | | — | | | (3.9) | | | Change due to income taxes | 0.4 | | | — | | | 0.4 | | | 0.8 | | Balance at June 30, 2026 | $ | (67.8) | | | $ | — | | | $ | 12.6 | | | $ | (55.2) | | | | | | | | | | Balance at December 31, 2024 | $ | (177.4) | | | $ | 0.2 | | | $ | (6.8) | | | $ | (184.0) | | Unrealized gain | 127.9 | | | 5.5 | | | 3.2 | | | 136.6 | | Reclassification of (gain) loss into earnings | — | | | (5.6) | | | 17.3 | | | 11.7 | | | Change due to income taxes | 25.7 | | | — | | | (0.4) | | | 25.3 | | Balance at June 30, 2025 | $ | (23.8) | | | $ | 0.1 | | | $ | 13.3 | | | $ | (10.4) | |
The reclassification effects shown above were immaterial to the financial statements and were recorded in cost of sales, SG&A expense, other (expense) income, net, or interest expense, net, depending upon the nature of the underlying transaction. The income tax effects related to foreign currency translation were primarily attributable to our net investment hedges for the three and six months ended June 30, 2026 and 2025, including our cross‑currency swap arrangements and foreign currency denominated debt instruments designated as net investment hedges, as discussed in note 14.
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