| Schedule of components of other comprehensive income (loss) |
The following tables summarize the activity related to each component of other comprehensive income (loss) during the three months ended June 30, 2023 and 2022: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (Amounts presented net of taxes) | Foreign Currency Translation Gains (Losses) | | Net Unrealized Gains (Losses) on Available-For-Sale Securities | | Defined Benefit Pension and Retiree Health Benefit Plans | | Net Unrealized Gains (Losses) on Cash Flow Hedges | | | | Accumulated Other Comprehensive Loss | Balance at April 1, 2023 | $ | (1,826.6) | | | $ | (28.3) | | | $ | (2,066.1) | | | $ | 143.7 | | | | | $ | (3,777.3) | | | | | | | | | | | | | | | Other comprehensive income (loss) before reclassifications | (58.7) | | | (5.9) | | | (5.6) | | | 43.5 | | | | | (26.7) | | | Net amount reclassified from accumulated other comprehensive loss | — | | | 0.7 | | | 12.9 | | | 1.7 | | | | | 15.3 | | | Net other comprehensive income (loss) | (58.7) | | | (5.2) | | | 7.3 | | | 45.2 | | | | | (11.4) | | | | | | | | | | | | | | Balance at June 30, 2023 | $ | (1,885.3) | | | $ | (33.5) | | | $ | (2,058.8) | | | $ | 188.9 | | | | | $ | (3,788.7) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (Amounts presented net of taxes) | Foreign Currency Translation Gains (Losses) | | Net Unrealized Gains (Losses) on Available-For-Sale Securities | | Defined Benefit Pension and Retiree Health Benefit Plans | | Net Unrealized Gains (Losses) on Cash Flow Hedges | | | | Accumulated Other Comprehensive Loss | Balance at April 1, 2022 | $ | (1,575.2) | | | $ | (18.1) | | | $ | (2,531.6) | | | $ | (100.4) | | | | | $ | (4,225.3) | | | | | | | | | | | | | | | Other comprehensive income (loss) before reclassifications | (269.6) | | | (9.3) | | | 31.7 | | | 124.8 | | | | | (122.4) | | | Net amount reclassified from accumulated other comprehensive loss | 0.6 | | | (0.5) | | | 56.7 | | | 3.2 | | | | | 60.0 | | | Net other comprehensive income (loss) | (269.0) | | | (9.8) | | | 88.4 | | | 128.0 | | | | | (62.4) | | | | | | | | | | | | | | Balance at June 30, 2022 | $ | (1,844.2) | | | $ | (27.9) | | | $ | (2,443.2) | | | $ | 27.6 | | | | | $ | (4,287.7) | |
The following tables summarize the activity related to each component of other comprehensive income (loss) during the six months ended June 30, 2023 and 2022: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (Amounts presented net of taxes) | Foreign Currency Translation Gains (Losses) | | Net Unrealized Gains (Losses) on Available-For-Sale Securities | | Defined Benefit Pension and Retiree Health Benefit Plans | | Net Unrealized Gains (Losses) on Cash Flow Hedges | | Accumulated Other Comprehensive Loss | Balance at January 1, 2023 | $ | (1,874.2) | | | $ | (37.1) | | | $ | (2,062.3) | | | $ | 129.0 | | | $ | (3,844.6) | | | | | | | | | | | | | Other comprehensive income (loss) before reclassifications | 14.1 | | | 2.2 | | | (22.4) | | | 56.2 | | | 50.1 | | | Net amount reclassified from accumulated other comprehensive loss | (25.2) | | | 1.4 | | | 25.9 | | | 3.7 | | | 5.8 | | | Net other comprehensive income (loss) | (11.1) | | | 3.6 | | | 3.5 | | | 59.9 | | | 55.9 | | | | | | | | | | | | Balance at June 30, 2023 | $ | (1,885.3) | | | $ | (33.5) | | | $ | (2,058.8) | | | $ | 188.9 | | | $ | (3,788.7) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (Amounts presented net of taxes) | Foreign Currency Translation Gains (Losses) | | Net Unrealized Gains (Losses) on Available-For-Sale Securities | | Defined Benefit Pension and Retiree Health Benefit Plans | | Net Unrealized Gains (Losses) on Cash Flow Hedges | | Accumulated Other Comprehensive Loss | Balance at January 1, 2022 | $ | (1,550.2) | | | $ | 3.7 | | | $ | (2,583.6) | | | $ | (213.0) | | | $ | (4,343.1) | | | | | | | | | | | | | Other comprehensive income (loss) before reclassifications | (294.6) | | | (30.6) | | | 25.1 | | | 234.2 | | | (65.9) | | | Net amount reclassified from accumulated other comprehensive loss | 0.6 | | | (1.0) | | | 115.3 | | | 6.4 | | | 121.3 | | | Net other comprehensive income (loss) | (294.0) | | | (31.6) | | | 140.4 | | | 240.6 | | | 55.4 | | | | | | | | | | | | Balance at June 30, 2022 | $ | (1,844.2) | | | $ | (27.9) | | | $ | (2,443.2) | | | $ | 27.6 | | | $ | (4,287.7) | |
The tax effects on the net activity related to each component of other comprehensive income (loss) were as follows: | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | Tax benefit (expense) | 2023 | | 2022 | | 2023 | | 2022 | | Foreign currency translation gains/losses | $ | (6.4) | | | $ | (87.2) | | | $ | 40.1 | | | $ | (100.9) | | | Net unrealized gains/losses on available-for-sale securities | 1.6 | | | 3.0 | | | (1.0) | | | 9.7 | | | Defined benefit pension and retiree health benefit plans | (3.0) | | | (22.4) | | | (7.0) | | | (50.8) | | | Net unrealized gains/losses on cash flow hedges | (12.0) | | | (34.0) | | | (15.9) | | | (63.9) | | | Benefit (expense) for income taxes allocated to other comprehensive income (loss) items | $ | (19.8) | | | $ | (140.6) | | | $ | 16.2 | | | $ | (205.9) | |
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| Schedule of reclassifications out of accumulated other comprehensive loss |
Reclassifications out of accumulated other comprehensive loss were as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | Details about Accumulated Other Comprehensive Loss Components | Three Months Ended June 30, | | Six Months Ended June 30, | Affected Line Item in the Consolidated Condensed Statements of Operations | | | 2023 | | 2022 | | 2023 | | 2022 | | Amortization of retirement benefit items: | | | | | | | | | | Prior service benefits, net | $ | (12.6) | | | $ | (13.1) | | | $ | (25.2) | | | $ | (26.1) | | Other–net, (income) expense | | Actuarial losses, net | 28.9 | | | 84.8 | | | 58.0 | | | 172.0 | | Other–net, (income) expense | | Total before tax | 16.3 | | | 71.7 | | | 32.8 | | | 145.9 | | | | Tax benefit | (3.4) | | | (15.0) | | | (6.9) | | | (30.6) | | Income taxes | | Net of tax | 12.9 | | | 56.7 | | | 25.9 | | | 115.3 | | | | | | | | | | | | Other, net of tax | 2.4 | | | 3.3 | | | (20.1) | | | 6.0 | | Other–net, (income) expense | | | | | | | | | | | Total reclassifications, net of tax | $ | 15.3 | | | $ | 60.0 | | | $ | 5.8 | | | $ | 121.3 | | |
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