Note 17. Comprehensive Income
The components of other comprehensive income and income tax expense allocated to each component for the years ended December 31, 2016, 2015 and 2014 were as follows:
|
|
2016 |
|
|
2015 |
|
|
2014 |
|
|
|
Before Tax |
|
|
Income Tax |
|
|
Net of Tax |
|
|
Before Tax |
|
|
Income Tax |
|
|
Net of Tax |
|
|
Before Tax |
|
|
Income Tax |
|
|
Net of Tax |
|
|
|
Amount |
|
|
Expense |
|
|
Amount |
|
|
Amount |
|
|
Expense |
|
|
Amount |
|
|
Amount |
|
|
Expense |
|
|
Amount |
|
|
Translation adjustments |
$ |
(0.1 |
) |
|
$ |
— |
|
|
$ |
(0.1 |
) |
|
$ |
(7.5 |
) |
|
$ |
— |
|
|
$ |
(7.5 |
) |
|
$ |
(2.9 |
) |
|
$ |
— |
|
|
$ |
(2.9 |
) |
|
Adjustment for net periodic pension plan and other postretirement benefits plan cost |
|
11.9 |
|
|
|
4.8 |
|
|
|
7.1 |
|
|
|
45.9 |
|
|
|
18.4 |
|
|
|
27.5 |
|
|
|
(284.5 |
) |
|
|
(114.6 |
) |
|
|
(169.9 |
) |
|
Other comprehensive income (loss) |
$ |
11.8 |
|
|
$ |
4.8 |
|
|
$ |
7.0 |
|
|
$ |
38.4 |
|
|
$ |
18.4 |
|
|
$ |
20.0 |
|
|
$ |
(287.4 |
) |
|
$ |
(114.6 |
) |
|
$ |
(172.8 |
) |
The following table summarizes changes in accumulated other comprehensive loss by component for the years ended December 31, 2016, 2015 and 2014:
|
|
Pension and Other Postretirement Benefits Plan Cost |
|
|
Translation Adjustments |
|
|
Total |
|
|
Balance at January 1, 2014 |
$ |
(495.3 |
) |
|
$ |
(5.6 |
) |
|
$ |
(500.9 |
) |
|
Other comprehensive loss before reclassifications |
|
(244.5 |
) |
|
|
(2.9 |
) |
|
|
(247.4 |
) |
|
Amounts reclassified from accumulated other comprehensive loss |
|
74.6 |
|
|
|
— |
|
|
|
74.6 |
|
|
Net change in accumulated other comprehensive loss |
|
(169.9 |
) |
|
|
(2.9 |
) |
|
|
(172.8 |
) |
|
Balance at December 31, 2014 |
$ |
(665.2 |
) |
|
$ |
(8.5 |
) |
|
$ |
(673.7 |
) |
|
Other comprehensive income (loss) before reclassifications |
|
5.7 |
|
|
|
(7.5 |
) |
|
|
(1.8 |
) |
|
Amounts reclassified from accumulated other comprehensive loss |
|
21.8 |
|
|
|
— |
|
|
|
21.8 |
|
|
Transfer of pension plan to parent company, net |
|
637.7 |
|
|
|
— |
|
|
|
637.7 |
|
|
Net change in accumulated other comprehensive loss |
|
665.2 |
|
|
|
(7.5 |
) |
|
|
657.7 |
|
|
Balance at December 31, 2015 |
$ |
— |
|
|
$ |
(16.0 |
) |
|
$ |
(16.0 |
) |
|
Other comprehensive income before reclassifications |
|
6.7 |
|
|
|
(0.1 |
) |
|
|
6.6 |
|
|
Amounts reclassified from accumulated other comprehensive loss |
|
0.4 |
|
|
|
— |
|
|
|
0.4 |
|
|
Transfer of pension plan from parent company, net |
|
(59.3 |
) |
|
|
— |
|
|
|
(59.3 |
) |
|
Net change in accumulated other comprehensive loss |
|
(52.2 |
) |
|
|
(0.1 |
) |
|
|
(52.3 |
) |
|
Balance at December 31, 2016 |
$ |
(52.2 |
) |
|
$ |
(16.1 |
) |
|
$ |
(68.3 |
) |
Reclassifications from accumulated other comprehensive loss for the years ended December 31, 2016, 2015 and 2014 were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Classification in the |
|
|
|
|
|
|
|
|
|
Consolidated and Combined |
|
|
2016 |
|
|
2015 |
|
|
2014 |
|
|
Statements of Operations |
|
Amortization of pension and other postretirement benefits plan cost: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net actuarial income |
$ |
0.7 |
|
|
$ |
36.4 |
|
|
$ |
29.1 |
|
|
(a) |
|
Settlements |
|
— |
|
|
|
— |
|
|
|
95.7 |
|
|
(a) |
|
Reclassifications before tax |
|
0.7 |
|
|
|
36.4 |
|
|
|
124.8 |
|
|
|
|
Income tax expense |
|
0.3 |
|
|
|
14.6 |
|
|
|
50.2 |
|
|
|
|
Reclassifications, net of tax |
$ |
0.4 |
|
|
$ |
21.8 |
|
|
$ |
74.6 |
|
|
|
|
(a) |
These accumulated other comprehensive (loss) income components are included in the calculation of net periodic pension and other postretirement benefits plan (income) expense, a component of which was allocated to Donnelley Financial in periods prior to the Separation, and recognized in cost of sales and selling, general and administrative expenses in the consolidated and combined statements of operations (see Note 11, Retirement Plans). |
|