Quarterly report pursuant to Section 13 or 15(d)

ACCUMULATED OTHER COMPREHENSIVE INCOME

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ACCUMULATED OTHER COMPREHENSIVE INCOME
3 Months Ended
Mar. 31, 2013
Accumulated Other Comprehensive Income [Abstract]  
ACCUMULATED OTHER COMPREHENSIVE INCOME

7. ACCUMULATED OTHER COMPREHENSIVE INCOME

 

Changes in accumulated other comprehensive income by component, after tax, for the three months ended March 31, 2013, are as follows:

 

          Defined     Cash flow        
    Foreign     benefit     hedging        
    currency     pension plans     transactions     Total  
    (In millions)  
Balance, December 31, 2012   $ (83.6 )   $ (276.4 )   $ (2.0 )   $ (362.0 )
Other comprehensive income before reclassifications     (9.6 )     0.1       -       (9.5 )
Amounts reclassified from accumulated other comprehensive income     -       2.9       -       2.9  
Net current-period other comprehensive income     (9.6 )     3.0       -       (6.6 )
Balance, March 31, 2013   $ (93.2 )   $ (273.4 )   $ (2.0 )   $ (368.6 )

 

Reclassifications out of accumulated other comprehensive income for the three months ended March 31, 2013, are as follows:

 

    Amount reclassified     Affected line item in
Details about accumulated other   from accumulated other     the statement where
comprehensive income components   comprehensive income (1)     net income is presented
    (in millions)      
Amortization of defined benefit pension items:            
Prior service cost   $ (0.3 )   (2)
Recognized actuarial loss     (4.4 )   (2)
      (4.7 )   Total before tax
      1.8     Tax benefit
    $ (2.9 )   Net of tax

 

(1)        Amounts in parentheses indicate expense recognized in the Consolidated Statements of Income.

 

(2)        These accumulated other comprehensive income components are included in the computation of net periodic pension cost (See Note 8 Benefit Plans for additional details).

 

Changes in accumulated other comprehensive income related to noncontrolling interests were not material as of March 31, 2013.