Accumulated Other Comprehensive LossThe following table provides details of comprehensive income (loss) for the three months ended March 31, 2024 and 2023: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (In millions) | | Unrecognized Pension Items | | Cumulative Translation Adjustment(1) | | Unrecognized Losses on Derivative Instruments for net investment hedge | | Unrecognized (Losses) Gains on Derivative Instruments for cash flow hedge | | | | Accumulated Other Comprehensive Loss, Net of Taxes | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Balance at December 31, 2023 | | $ | (146.4) | | | $ | (770.6) | | | $ | (38.1) | | | $ | (0.4) | | | | | $ | (955.5) | | | Other comprehensive (loss) income before reclassifications | | (0.2) | | | (40.4) | | | 8.4 | | | 1.3 | | | | | (30.9) | | | Less: amounts reclassified from accumulated other comprehensive loss | | 1.1 | | | — | | | — | | | 0.1 | | | | | 1.2 | | | Net current period other comprehensive income (loss) | | 0.9 | | | (40.4) | | | 8.4 | | | 1.4 | | | | | (29.7) | | | Balance at March 31, 2024 | | $ | (145.5) | | | $ | (811.0) | | | $ | (29.7) | | | $ | 1.0 | | | | | $ | (985.2) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Balance at December 31, 2022 | | $ | (126.3) | | | $ | (837.5) | | | $ | (18.3) | | | $ | 3.3 | | | | | $ | (978.8) | | | Other comprehensive income (loss) before reclassifications | | 0.2 | | | 36.6 | | | (5.5) | | | (1.9) | | | | | 29.4 | | | Less: amounts reclassified from accumulated other comprehensive loss | | 1.1 | | | — | | | — | | | (0.9) | | | | | 0.2 | | | Net current period other comprehensive income (loss) | | 1.3 | | | 36.6 | | | (5.5) | | | (2.8) | | | | | 29.6 | | | Balance at March 31, 2023 | | $ | (125.0) | | | $ | (800.9) | | | $ | (23.8) | | | $ | 0.5 | | | | | $ | (949.2) | |
(1)Includes gains and losses on intra-entity foreign currency transactions. The intra-entity currency translation adjustment was $8.8 million and $7.9 million for the three months ended March 31, 2024 and 2023, respectively. The following table provides detail of amounts reclassified from AOCL: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended March 31, | | | | (In millions) | | | | | | 2024 | | 2023 | | Location of Amount Reclassified from AOCL | Defined benefit pension plans and other post-employment benefits: | | | | | | | | | | | | Net settlement cost | | | | | | $ | — | | | $ | (0.2) | | | | | | | | | | | | | | | | Actuarial losses | | | | | | (1.4) | | | (1.2) | | | | | Total pre-tax amount | | | | | | (1.4) | | | (1.4) | | | Other expense, net | | Tax benefit | | | | | | 0.3 | | | 0.3 | | | | | Net of tax | | | | | | (1.1) | | | (1.1) | | | | | | | | | | | | | | | | | | | | | | | | | | Net gains on cash flow hedging derivatives:(1) | | | | | | | | | | | | Foreign currency forward contracts | | | | | | (0.2) | | | 1.1 | | | Cost of sales | | | | | | | | | | | | | | | | | | | | | | | | Total pre-tax amount | | | | | | (0.2) | | | 1.1 | | | | | Tax benefit (expense) | | | | | | 0.1 | | | (0.2) | | | | | Net of tax | | | | | | (0.1) | | | 0.9 | | | | | Total reclassifications for the period | | | | | | $ | (1.2) | | | $ | (0.2) | | | |
(1)These accumulated other comprehensive components are included in our derivative and hedging activities. See Note 14, “Derivatives and Hedging Activities,” for additional details.
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