Annual report pursuant to Section 13 and 15(d)

Shareholders' Equity

v3.7.0.1
Shareholders' Equity
12 Months Ended
Dec. 31, 2016
Equity [Abstract]  
Shareholders' Equity
SHAREHOLDERS' EQUITY
The balance of each component of AOCI, net of tax, is presented in the table below.
 
December 31, 2016
 
December 31, 2015
Foreign currency translation adjustments
$
0.5

 
$
0.1

Derivative gain, net
0.5

 
2.3

Pension and postretirement adjustments
(60.8
)
 
(0.4
)
Accumulated other comprehensive (loss) income
$
(59.8
)
 
$
2.0


The amounts and related tax effects allocated to each component of other comprehensive (loss) in 2016, 2015 and 2014 are presented in the table below.
 
Pre-tax Amount
 
Tax Benefit
 
After-tax Amount
2016
 
 
 
 
 
Foreign currency translation adjustments
$
(8.2
)
 
$

 
$
(8.2
)
Derivative (loss), net
(2.0
)
 
0.4

 
(1.6
)
Pension and postretirement adjustments
3.3

 
(1.1
)
 
2.2

Total other comprehensive (loss)
$
(6.9
)
 
$
(0.7
)
 
$
(7.6
)
 
 
 
 
 
 
2015
 
 
 
 
 
Foreign currency translation adjustments
$
(12.1
)
 
$

 
$
(12.1
)
Derivative gain, net
0.6

 

 
0.6

Postretirement adjustments
(0.2
)
 

 
(0.2
)
Total other comprehensive (loss)
$
(11.7
)
 
$

 
$
(11.7
)
 
 
 
 
 
 
2014
 
 
 
 
 
Foreign currency translation adjustments
$
(8.7
)
 
$

 
$
(8.7
)
Derivative (loss), net
(1.1
)
 

 
(1.1
)
Postretirement adjustments
(0.2
)
 

 
(0.2
)
Total other comprehensive (loss)
$
(10.0
)
 
$

 
$
(10.0
)






NOTE 20. SHAREHOLDERS' EQUITY (continued)
The following table summarizes the activity, by component, related to the change in AOCI for the three years ended December 31, 2016.
 
Foreign Currency Translation Adjustments
 
Derivative Gain (Loss)
 
Pension and Postretirement Adjustments
 
Total Accumulated Other Comprehensive Income (Loss)
Balance, December 31, 2014
$
12.2

 
$
1.7

 
$
(0.2
)
 
$
13.7

Other comprehensive (loss) income before reclassifications, net of tax
(12.1
)
 
4.4

 
(0.2
)
 
(7.9
)
Amounts reclassified from accumulated other comprehensive income

 
(3.8
)
 

 
(3.8
)
Net current period other comprehensive (loss) income
(12.1
)
 
0.6

 
(0.2
)
 
(11.7
)
Balance, December 31, 2015
$
0.1

 
$
2.3

 
$
(0.4
)
 
$
2.0

Net transfer from AWI
8.6

 
(0.2
)
 
(62.6
)
 
(54.2
)
Other comprehensive (loss) before reclassifications, net of tax
(8.2
)
 
(0.6
)
 
(0.9
)
 
(9.7
)
Amounts reclassified from accumulated other comprehensive income

 
(1.0
)
 
3.1

 
2.1

Net current period other comprehensive (loss) income
(8.2
)
 
(1.6
)
 
2.2

 
(7.6
)
Balance, December 31, 2016
$
0.5

 
$
0.5

 
$
(60.8
)
 
$
(59.8
)

NOTE 20. SHAREHOLDERS' EQUITY (continued)
The amounts reclassified from AOCI and the affected line item of the Consolidated Statements of Operations and Comprehensive Income (Loss) are presented in the table below.
 
Year Ended December 31,
 
 
 
2016
 
2015
 
Affected Line Item
Derivative Adjustments:
 
 
 
 
 
Foreign exchange contracts - purchases
$
0.3

 
$
0.7

 
Cost of goods sold
Foreign exchange contracts - sales
(1.8
)
 
(4.5
)
 
Net sales
Total income before tax
(1.5
)
 
(3.8
)
 
 
Tax impact
0.5

 

 
Income tax expense
Total income, net of tax
(1.0
)
 
(3.8
)
 
 
Pension and Postretirement Adjustments:
 
 
 
 
 
Prior service cost amortization
0.1

 

 
Selling, general and administrative expenses
Amortization of net actuarial loss
2.0

 

 
Cost of goods sold
Amortization of net actuarial loss
2.7

 

 
Selling, general and administrative expenses
Total expense before tax
4.8

 

 
 
Tax impact
(1.7
)
 

 
Income tax expense
Total expense, net of tax
3.1

 

 
 
Total reclassifications for the period
$
2.1

 
$
(3.8
)