Stockholders' Equity (Tables)
 6 Months Ended
Jun. 30, 2017
Equity [Abstract]  
Components of Changes in Accumulated Other Comprehensive Income (AOCI)

Changes in accumulated other comprehensive income (loss) (AOCI) by component were as follows (dollars in millions). Amounts in parentheses indicate losses:

 

 

 

Unrealized Loss On Treasury Locks, Net

 

 

Unrealized Loss on Foreign Exchange Contracts

 

 

Unfunded Employee Benefit Obligations

 

 

Total

 

Balance at January 1, 2017

 

$

(17.8

)

 

$

(0.4

)

 

$

(121.4

)

 

$

(139.6

)

Amounts reclassified from AOCI, net of tax

 

 

1.6

 

 

 

(0.3

)

 

 

4.3

 

 

 

5.6

 

Balance at June 30, 2017

 

$

(16.2

)

 

$

(0.7

)

 

$

(117.1

)

 

$

(134.0

)

 
Reclassifications Out of Accumulated Other Comprehensive Income (AOCI)

Reclassifications out of AOCI were as follows (dollars in millions). Amounts in parentheses indicate expenses in the Consolidated Statements of Income:

 

 

Amounts Reclassified from AOCI

 

 

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

Details about AOCI Components

 

2017

 

 

2016

 

 

2017

 

 

2016

 

 

 

Unrealized loss on treasury locks, net

 

$

(1.4

)

 

$

(1.4

)

 

$

(2.8

)

 

$

(2.8

)

 

See (a) below

 

 

 

0.6

 

 

 

0.6

 

 

 

1.2

 

 

 

1.1

 

 

Tax benefit

 

 

$

(0.8

)

 

$

(0.8

)

 

$

(1.6

)

 

$

(1.7

)

 

Net of tax

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unfunded employee benefit obligations

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amortization of prior service costs

 

$

(1.4

)

 

$

(1.4

)

 

$

(2.9

)

 

$

(2.8

)

 

See (b) below

Amortization of actuarial losses

 

 

(1.9

)

 

 

(1.2

)

 

 

(3.7

)

 

 

(2.4

)

 

See (b) below

 

 

 

(3.3

)

 

 

(2.6

)

 

 

(6.6

)

 

 

(5.2

)

 

Total before tax

 

 

 

1.2

 

 

 

1.0

 

 

 

2.3

 

 

 

2.0

 

 

Tax benefit

 

 

$

(2.1

)

 

$

(1.6

)

 

$

(4.3

)

 

$

(3.2

)

 

Net of tax

 

 

(a)

This AOCI component is included in interest expense, net. Amount relates to the amortization of the effective portion of treasury lock derivative instruments recorded in AOCI. The net amount of settlement gains or losses on derivative instruments included in AOCI to be amortized over the next 12 months is a net loss of $5.7 million ($3.5 million after tax). For a discussion of treasury lock derivative instrument activity, see Note 13, Derivative Instruments and Hedging Activities, of the Notes to Consolidated Financial Statements in "Part II, Item 8. Financial Statements and Supplementary Data" of our 2016 Annual Report on Form 10-K.

(b)

These AOCI components are included in the computation of net pension and postretirement benefit costs. See Note 11, Employee Benefit Plans and Other Postretirement Benefits, for additional information.