Other Comprehensive Loss The following tables summarize the changes in the accumulated balances for each component of accumulated other comprehensive loss:
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Pension and Postretirement |
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Currency Translation |
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Net Unrealized Gain (Loss) on Derivative Instruments |
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Total Attributable to Hillenbrand, Inc. |
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Noncontrolling Interests |
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Total |
Balance at September 30, 2019 |
$ |
(62.3) |
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$ |
(64.7) |
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$ |
(13.6) |
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$ |
(140.6) |
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Other comprehensive loss before reclassifications: |
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Before tax amount |
— |
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(0.3) |
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(1.6) |
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(1.9) |
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$ |
(0.7) |
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$ |
(2.6) |
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Tax benefit |
— |
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— |
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0.3 |
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0.3 |
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— |
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0.3 |
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After tax amount |
— |
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(0.3) |
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(1.3) |
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(1.6) |
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(0.7) |
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(2.3) |
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Amounts reclassified from accumulated other comprehensive loss (1)
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3.8 |
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— |
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1.8 |
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5.6 |
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— |
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5.6 |
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Net current period other comprehensive income (loss) |
3.8 |
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(0.3) |
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0.5 |
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4.0 |
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$ |
(0.7) |
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$ |
3.3 |
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Reclassification of certain income tax effects (2)
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(6.0) |
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— |
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— |
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(6.0) |
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Balance at June 30, 2020 |
$ |
(64.5) |
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$ |
(65.0) |
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$ |
(13.1) |
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$ |
(142.6) |
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(1)Amounts are net of tax.
(2)Income tax effects of the Tax Act were reclassified from accumulated other comprehensive loss to retained earnings due to the adoption of ASU 2018-02. See Note 2 for more information.
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Pension and Postretirement |
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Currency Translation |
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Net Unrealized Gain (Loss) on Derivative Instruments |
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Total Attributable to Hillenbrand, Inc. |
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Noncontrolling Interests |
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Total |
Balance at September 30, 2018 |
$ |
(41.0) |
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$ |
(44.1) |
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$ |
0.9 |
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$ |
(84.2) |
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Other comprehensive income (loss) before reclassifications: |
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Before tax amount |
1.5 |
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(3.6) |
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(16.2) |
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(18.3) |
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$ |
0.2 |
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$ |
(18.1) |
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Tax (expense) benefit |
(0.4) |
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— |
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3.8 |
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3.4 |
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— |
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3.4 |
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After tax amount |
1.1 |
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(3.6) |
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(12.4) |
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(14.9) |
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0.2 |
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(14.7) |
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Amounts reclassified from accumulated other comprehensive loss (1)
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0.9 |
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— |
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(0.3) |
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0.6 |
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— |
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0.6 |
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Net current period other comprehensive income (loss) |
2.0 |
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(3.6) |
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(12.7) |
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(14.3) |
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$ |
0.2 |
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$ |
(14.1) |
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Balance at June 30, 2019 |
$ |
(39.0) |
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$ |
(47.7) |
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$ |
(11.8) |
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$ |
(98.5) |
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(1)Amounts are net of tax.
Reclassifications out of accumulated other comprehensive loss include:
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Three Months Ended June 30, 2020 |
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Amortization of Pension and
Postretirement (1)
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(Gain) Loss on |
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Net Loss Recognized |
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Prior Service Costs Recognized |
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Derivative Instruments |
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Total |
Affected Line in the Consolidated Statement of Operations: |
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Net revenue |
$ |
— |
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$ |
— |
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$ |
— |
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$ |
— |
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Cost of goods sold |
— |
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— |
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0.9 |
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0.9 |
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Other income (expense), net |
1.7 |
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— |
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0.5 |
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2.2 |
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Total before tax |
$ |
1.7 |
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$ |
— |
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$ |
1.4 |
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$ |
3.1 |
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Tax benefit |
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(0.5) |
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Total reclassifications for the period, net of tax |
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$ |
2.6 |
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Nine Months Ended June 30, 2020 |
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Amortization of Pension and
Postretirement (1)
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(Gain) Loss on |
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Net Loss Recognized |
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Prior Service Costs Recognized |
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Derivative Instruments |
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Total |
Affected Line in the Consolidated Statement of Operations: |
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Net revenue |
$ |
— |
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$ |
— |
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$ |
(0.2) |
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$ |
(0.2) |
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Cost of goods sold |
— |
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— |
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0.5 |
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0.5 |
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Other income (expense), net |
5.2 |
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(0.1) |
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1.5 |
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6.6 |
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Total before tax |
$ |
5.2 |
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$ |
(0.1) |
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$ |
1.8 |
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$ |
6.9 |
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Tax benefit |
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(1.3) |
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Total reclassifications for the period, net of tax |
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$ |
5.6 |
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(1)These accumulated other comprehensive loss components are included in the computation of net periodic pension cost (see Note 9).
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Three Months Ended June 30, 2019 |
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Amortization of Pension and
Postretirement (1)
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Gain (Loss) on |
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Net Loss Recognized |
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Prior Service Costs Recognized |
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Derivative Instruments |
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Total |
Affected Line in the Consolidated Statement of Operations: |
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Net revenue |
$ |
— |
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$ |
— |
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$ |
(0.1) |
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$ |
(0.1) |
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Cost of goods sold |
— |
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— |
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(0.4) |
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(0.4) |
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Other income (expense), net |
0.6 |
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— |
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— |
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0.6 |
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Total before tax |
$ |
0.6 |
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$ |
— |
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$ |
(0.5) |
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$ |
0.1 |
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Tax benefit |
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— |
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Total reclassifications for the period, net of tax |
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$ |
0.1 |
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Nine Months Ended June 30, 2019 |
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Amortization of Pension and
Postretirement (1)
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Loss (Gain) on |
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Net Loss Recognized |
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Prior Service Costs Recognized |
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Derivative Instruments |
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Total |
Affected Line in the Consolidated Statement of Operations: |
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Net revenue |
$ |
— |
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$ |
— |
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$ |
0.1 |
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$ |
0.1 |
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Cost of goods sold |
— |
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— |
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(0.6) |
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(0.6) |
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Other income (expense), net |
1.3 |
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— |
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— |
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1.3 |
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Total before tax |
$ |
1.3 |
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$ |
— |
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$ |
(0.5) |
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$ |
0.8 |
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Tax benefit |
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(0.2) |
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Total reclassifications for the period, net of tax |
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$ |
0.6 |
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