10. Accumulated other comprehensive income or 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, 2024 | $ | (111.7) | | | $ | 13.6 | | | $ | 1.1 | | | $ | (97.0) | | Unrealized (loss) gain | (6.1) | | | 5.4 | | | (0.2) | | | (0.9) | | Reclassification of gain into earnings | — | | | (8.4) | | | — | | | (8.4) | | | Change due to income taxes | (1.7) | | | 0.7 | | | — | | | (1.0) | | Balance at June 30, 2024 | $ | (119.5) | | | $ | 11.3 | | | $ | 0.9 | | | $ | (107.3) | | | | | | | | | | Balance at March 31, 2023 | $ | (111.7) | | | $ | 14.9 | | | $ | 7.1 | | | $ | (89.7) | | Unrealized gain (loss) | 8.7 | | | 16.8 | | | (0.8) | | | 24.7 | | Reclassification of gain into earnings | — | | | (7.6) | | | — | | | (7.6) | | | Change due to income taxes | 2.6 | | | (2.2) | | | 0.3 | | | 0.7 | | Balance at June 30, 2023 | $ | (100.4) | | | $ | 21.9 | | | $ | 6.6 | | | $ | (71.9) | | | | | | | | | | Balance at December 31, 2023 | $ | (82.8) | | | $ | 12.6 | | | $ | 1.2 | | | $ | (69.0) | | Unrealized (loss) gain | (28.1) | | | 15.2 | | | (0.4) | | | (13.3) | | Reclassification of gain into earnings | — | | | (16.9) | | | — | | | (16.9) | | | Change due to income taxes | (8.6) | | | 0.4 | | | 0.1 | | | (8.1) | | Balance at June 30, 2024 | $ | (119.5) | | | $ | 11.3 | | | $ | 0.9 | | | $ | (107.3) | | | | | | | | | | Balance at December 31, 2022 | $ | (131.3) | | | $ | 19.9 | | | $ | 11.1 | | | $ | (100.3) | | Unrealized gain (loss) | 25.6 | | | 16.7 | | | (5.7) | | | 36.6 | | Reclassification of gain into earnings | — | | | (14.1) | | | — | | | (14.1) | | | Change due to income taxes | 5.3 | | | (0.6) | | | 1.2 | | | 5.9 | | Balance at June 30, 2023 | $ | (100.4) | | | $ | 21.9 | | | $ | 6.6 | | | $ | (71.9) | |
The reclassifications effects shown above were immaterial to the financial statements and were made to either cost of sales, SG&A expense or interest expense depending upon the nature of the underlying transaction. The income tax effects in the three and six months ended June 30, 2024 on foreign currency translation were due to our net investment hedge and cross-currency swap discussed in note 14.
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