XML 37 R23.htm IDEA: XBRL DOCUMENT v3.6.0.2
Accumulated Other Comprehensive Income (Loss)
12 Months Ended
Dec. 31, 2016
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Accumulated Other Comprehensive Income (Loss)
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
The other comprehensive loss consists of the following components:
 
Year Ended December 31, 2016
 
Before-Tax
 
Income
 
After-Tax
(in thousands)
Amount
 
Tax
 
Amount
Foreign currency translation adjustments:
 
 
 
 
 
Translation adjustments arising during the year
$
(22,149
)
 
$

 
$
(22,149
)
Unrealized gains on available-for-sale securities:
 
 
 
 
 
Unrealized gains for the year
55,507

 
(22,203
)
 
33,304

Reclassification adjustment for net realized loss on sale of available-for-sale securities included in net income
1,879

 
(752
)
 
1,127

 
57,386

 
(22,955
)
 
34,431

Pension and other postretirement plans:
 
 
 
 
 
Actuarial loss
(133,915
)
 
53,566

 
(80,349
)
Amortization of net actuarial loss included in net income
1,157

 
(463
)
 
694

Amortization of net prior service cost included in net income
419

 
(167
)
 
252

Curtailments and settlements included in net income
(17,993
)
 
7,197

 
(10,796
)
 
(150,332
)
 
60,133

 
(90,199
)
Cash flow hedge:
 
 
 
 
 
Loss for the year
(334
)
 
57

 
(277
)
Other Comprehensive Loss
$
(115,429
)
 
$
37,235

 
$
(78,194
)
 
Year Ended December 31, 2015
 
Before-Tax
 
Income
 
After-Tax
(in thousands)
Amount
 
Tax
 
Amount
Foreign currency translation adjustments:
 
 
 
 
 
Translation adjustments arising during the year
$
(18,898
)
 
$

 
$
(18,898
)
Adjustment for sales of businesses with foreign operations
5,501

 

 
5,501

 
(13,397
)
 

 
(13,397
)
Unrealized gains on available-for-sale securities:
 
 
 
 
 
Unrealized gains for the year
10,620

 
(4,248
)
 
6,372

Reclassification adjustment for realized gain on sale of available-for-sale securities included in net income
(4
)
 
2

 
(2
)
 
10,616

 
(4,246
)
 
6,370

Pension and other postretirement plans:
 
 
 
 
 
Actuarial loss
(211,054
)
 
84,421

 
(126,633
)
Amortization of net actuarial gain included in net income
(9,906
)
 
3,962

 
(5,944
)
Amortization of net prior service cost included in net income
275

 
(110
)
 
165

Curtailments and settlements included in net income
51

 
(21
)
 
30

Curtailments and settlements included in distribution to Cable ONE
834

 
(333
)
 
501

 
(219,800
)
 
87,919

 
(131,881
)
Cash flow hedge:
 
 
 
 
 
Gain for the year
179

 
(71
)
 
108

Other Comprehensive Loss
$
(222,402
)
 
$
83,602

 
$
(138,800
)
 
Year Ended December 31, 2014
 
Before-Tax
 
Income
 
After-Tax
(in thousands)
Amount
 
Tax
 
Amount
Foreign currency translation adjustments:
 
 
 
 
 
Translation adjustments arising during the year
$
(16,061
)
 
$

 
$
(16,061
)
Adjustment for sales of businesses with foreign operations
(404
)
 

 
(404
)
  
(16,465
)
 

 
(16,465
)
Unrealized gains on available-for-sale securities:
 
 
 
 
 
Unrealized gains for the year
62,719

 
(25,088
)
 
37,631

Reclassification adjustment for realization of (gain) loss on exchange, sale or write-down of available-for-sale securities included in net income
(265,274
)
 
106,110

 
(159,164
)
 
(202,555
)
 
81,022

 
(121,533
)
Pension and other postretirement plans:
 
 
 
 
 
Actuarial loss
(149,482
)
 
59,792

 
(89,690
)
Prior service cost
(1,600
)
 
640

 
(960
)
Amortization of net actuarial gain included in net income
(29,412
)
 
11,765

 
(17,647
)
Amortization of net prior service credit included in net income
(407
)
 
163

 
(244
)
Curtailments and settlements
8

 
(3
)
 
5

 
(180,893
)
 
72,357

 
(108,536
)
Cash flow hedge:
 
 
 
 
 
Gain for the year
867

 
(347
)
 
520

Other Comprehensive Loss
$
(399,046
)
 
$
153,032

 
$
(246,014
)

The accumulated balances related to each component of other comprehensive (loss) income are as follows:
(in thousands, net of taxes)
Cumulative
Foreign
Currency
Translation
Adjustment
 
Unrealized Gain
on Available-for-
Sale Securities
 
Unrealized Gain
on Pensions
and Other
Postretirement
Plans
 
Cash Flow
Hedge
 
Accumulated
Other
Comprehensive
Income
As of December 31, 2014
$
8,548

 
$
52,130

 
$
392,910

 
$
(108
)
 
$
453,480

Other comprehensive (loss) income before reclassifications
(18,898
)
 
6,372

 
(126,132
)
 
29

 
(138,629
)
Net amount reclassified from accumulated other comprehensive income
5,501

 
(2
)
 
(5,749
)
 
79

 
(171
)
Net other comprehensive (loss) income
(13,397
)
 
6,370

 
(131,881
)
 
108

 
(138,800
)
As of December 31, 2015
(4,849
)
 
58,500

 
261,029

 

 
314,680

Other comprehensive (loss) income before reclassifications
(22,149
)
 
33,304

 
(80,349
)
 
(290
)
 
(69,484
)
Net amount reclassified from accumulated other comprehensive income

 
1,127

 
(9,850
)
 
13

 
(8,710
)
Net other comprehensive (loss) income
(22,149
)
 
34,431

 
(90,199
)
 
(277
)
 
(78,194
)
As of December 31, 2016
$
(26,998
)
 
$
92,931

 
$
170,830

 
$
(277
)
 
$
236,486



The amounts and line items of reclassifications out of Accumulated Other Comprehensive Income are as follows:
 
Year Ended December 31
 
Affected Line Item in the Consolidated Statement of Operations
(in thousands)
2016
 
2015
 
2014
 
Foreign Currency Translation Adjustments:
 
 
 
 
 
 
 
Adjustment for sales of businesses with foreign operations
$

 
$
5,501

 
$
(404
)
 
(1)
Unrealized Gains on Available-for-Sale Securities:
 
 
 
 
 
 
 
Realized loss (gain) for the year
1,879

 
(4
)
 
(265,274
)
 
Other (expense) income, net
 
(752
)
 
2

 
106,110

 
(2)
 
1,127

 
(2
)
 
(159,164
)
 
Net of tax
Pension and Other Postretirement Plans:
 
 
 
 
 
 
 
Amortization of net actuarial loss (gain)
1,157

 
(9,906
)
 
(29,412
)
 
(3)
Amortization of net prior service cost (credit)
419

 
275

 
(407
)
 
(3)
Curtailment (gains) losses
(17,993
)
 
51

 

 
(3)
 
(16,417
)
 
(9,580
)
 
(29,819
)
 
Before tax
 
6,567

 
3,831

 
11,928

 
Provision for income taxes
 
(9,850
)
 
(5,749
)
 
(17,891
)
 
Net of tax
Cash Flow Hedge
 
 
 
 
 
 
 
 
16

 
132

 
847

 
Interest expense
 
(3
)
 
(53
)
 
(339
)
 
Provision for income taxes
 
13

 
79

 
508

 
Net of tax
Total reclassification for the year
$
(8,710
)
 
$
(171
)
 
$
(176,951
)
 
Net of tax
____________
(1)
The amount for 2015 was recorded in other (expense) income, net and the amount for 2014 was recorded in income from discontinued operations, net of tax.
(2)
The amounts for 2016 and 2015 were recorded in Provision for Income Taxes. Benefits of $1.2 million were recorded in Provision for Income Taxes related to the realized loss for the year ended December 31, 2014. The remaining $107.3 million for the year relates to the reversal of income taxes previously recorded on the unrealized gain of the Company’s investment in Berkshire Hathaway Inc. marketable securities as part of the Berkshire exchange transaction, which qualified as a tax-free distribution under IRC Section 355 and 361 (see Note 7).
(3)
These accumulated other comprehensive income components are included in the computation of net periodic pension and postretirement plan cost (see Note 14).