v3.25.0.1
Shareholders' Equity (Tables)
 12 Months Ended
Dec. 31, 2024
Stockholders' Equity Note [Abstract]  
Components of Accumulated Other Comprehensive Income (Loss)

The balance of each component of accumulated other comprehensive (loss), net of tax is presented in the table below.

 

 

 

December 31, 2024

 

 

December 31, 2023

 

Foreign currency translation adjustments

 

$

(2.2

)

 

$

1.0

 

Derivative (loss) gain, net

 

 

(1.1

)

 

 

0.5

 

Pension and postretirement adjustments

 

 

(106.9

)

 

 

(106.2

)

Accumulated other comprehensive (loss)

 

$

(110.2

)

 

$

(104.7

)

 
Schedule of Other Comprehensive Income (Loss)

The amounts and related tax effects allocated to each component of other comprehensive income (loss) for 2024, 2023, and 2022 are presented in the tables below.

 

 

 

Pre-tax Amount

 

 

Tax (Expense) Benefit

 

 

After-tax Amount

 

2024

 

 

 

 

 

 

 

 

 

Foreign currency translation adjustments

 

$

(3.9

)

 

$

0.7

 

 

$

(3.2

)

Derivative (loss), net

 

 

(2.2

)

 

 

0.6

 

 

 

(1.6

)

Pension and postretirement adjustments

 

 

(0.7

)

 

 

-

 

 

 

(0.7

)

Total other comprehensive (loss)

 

$

(6.8

)

 

$

1.3

 

 

$

(5.5

)

 

 

 

Pre-tax Amount

 

 

Tax (Expense) Benefit

 

 

After-tax Amount

 

2023

 

 

 

 

 

 

 

 

 

Foreign currency translation adjustments

 

$

0.5

 

 

$

-

 

 

$

0.5

 

Derivative (loss), net

 

 

(12.1

)

 

 

3.1

 

 

 

(9.0

)

Pension and postretirement adjustments

 

 

5.2

 

 

 

(1.3

)

 

 

3.9

 

Total other comprehensive (loss)

 

$

(6.4

)

 

$

1.8

 

 

$

(4.6

)

 

 

 

Pre-tax Amount

 

 

Tax Benefit (Expense)

 

 

After-tax Amount

 

2022

 

 

 

 

 

 

 

 

 

Foreign currency translation adjustments

 

$

(1.8

)

 

$

-

 

 

$

(1.8

)

Derivative gain, net

 

$

24.9

 

 

$

(6.3

)

 

$

18.6

 

Pension and postretirement adjustments

 

 

(9.6

)

 

 

2.3

 

 

 

(7.3

)

Total other comprehensive income

 

$

13.5

 

 

$

(4.0

)

 

$

9.5

 
Schedule of Accumulated Other Comprehensive Income Activity

The following table summarizes the activity, by component, related to the change in AOCI for December 31, 2024 and 2023:

 

 

 

Foreign
Currency
Translation Adjustments

 

 

Derivative
(Loss) Gain (1)

 

 

Pension and Postretirement Adjustments (1)

 

 

Total
Accumulated
Other
Comprehensive
(Loss) Income (1)

 

Balance, December 31, 2022

 

$

0.5

 

 

$

9.5

 

 

$

(110.1

)

 

$

(100.1

)

Other comprehensive income (loss) before reclassifications,
   net of tax (expense) benefit of $-, $0.2, ($1.5) and ($1.3)

 

 

0.5

 

 

 

(0.4

)

 

 

4.5

 

 

 

4.6

 

Amounts reclassified from accumulated other
   comprehensive (loss)

 

 

-

 

 

 

(8.6

)

 

 

(0.6

)

 

 

(9.2

)

Net current period other comprehensive income (loss)

 

 

0.5

 

 

 

(9.0

)

 

 

3.9

 

 

 

(4.6

)

Balance, December 31, 2023

 

 

1.0

 

 

 

0.5

 

 

 

(106.2

)

 

 

(104.7

)

Other comprehensive (loss) income before reclassifications,
   net of tax benefit (expense) of $0.7, ($0.8), ($0.8) and ($0.9)

 

 

(3.2

)

 

 

2.5

 

 

 

2.1

 

 

 

1.4

 

Amounts reclassified from accumulated other
   comprehensive (loss)

 

 

-

 

 

 

(4.1

)

 

 

(2.8

)

 

 

(6.9

)

Net current period other comprehensive (loss)

 

 

(3.2

)

 

 

(1.6

)

 

 

(0.7

)

 

 

(5.5

)

Balance, December 31, 2024

 

$

(2.2

)

 

$

(1.1

)

 

$

(106.9

)

 

$

(110.2

)
(1)
Amounts are net of tax and include our 50% share of AOCI components from our WAVE joint venture.
Reclassification out of Accumulated Other Comprehensive Income

The amounts reclassified from AOCI, and the affected line item of the Consolidated Statements of Earnings and Comprehensive Income, are presented in the table below.

 

 

 

 

Amounts Reclassified from
Accumulated Other
Comprehensive (Loss)

 

 

Affected Line Item in the
Consolidated Statements of Earnings
and Comprehensive Income

 

 

2024

 

 

2023

 

 

 

Derivative Adjustments:

 

 

 

 

 

 

 

 

Interest rate swap contracts, before tax

 

$

(5.5

)

 

$

(11.5

)

 

Interest expense

Tax impact

 

 

1.4

 

 

 

2.9

 

 

Income tax expense

Total (income), net of tax

 

 

(4.1

)

 

 

(8.6

)

 

 

 

 

 

 

 

 

 

 

 

Pension and Postretirement Adjustments:

 

 

 

 

 

 

 

 

Prior service credit amortization

 

 

(0.2

)

 

 

(0.3

)

 

Other non-operating (income), net

Amortization of net actuarial (gain)

 

 

(3.4

)

 

 

(0.5

)

 

Other non-operating (income), net

Total (income), before tax

 

 

(3.6

)

 

 

(0.8

)

 

 

Tax impact

 

 

0.8

 

 

 

0.2

 

 

Income tax expense

Total (income), net of tax

 

 

(2.8

)

 

 

(0.6

)

 

 

Total reclassifications for the period

 

$

(6.9

)

 

$

(9.2

)