XML 32 R22.htm IDEA: XBRL DOCUMENT v3.5.0.2
Other Comprehensive Earnings
 9 Months Ended
Sep. 30, 2016
Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Other Comprehensive Earnings
14. Other Comprehensive Earnings (Loss)

The amounts recognized in other comprehensive earnings (loss) were as follows:

 
Three Months Ended
 
Three Months Ended
 
September 30, 2016
 
September 30, 2015
 
Pre-tax
 
Tax
 
Net of tax
 
Pre-tax
 
Tax
 
Net of tax
Foreign currency translation adjustments
$
9,370

 
$
2,119

 
$
11,489

 
$
(55,942
)
 
$
(1,271
)
 
$
(57,213
)
Pension and other postretirement benefit plans
3,695

 
(1,242
)
 
2,453

 
5,753

 
(1,951
)
 
3,802

Changes in fair value of cash flow hedges
(488
)
 
170

 
(318
)
 
(760
)
 
267

 
(493
)
Other
269

 
(29
)
 
240

 
445

 
(52
)
 
393

Total other comprehensive earnings (loss)
$
12,846

 
$
1,018

 
$
13,864

 
$
(50,504
)
 
$
(3,007
)
 
$
(53,511
)

 
Nine Months Ended
 
Nine Months Ended
 
September 30, 2016
 
September 30, 2015
 
Pre-tax
 
Tax
 
Net of tax
 
Pre-tax
 
Tax
 
Net of tax
Foreign currency translation adjustments
$
(24,436
)
 
$
2,702

 
$
(21,734
)
 
$
(95,087
)
 
$
(9,785
)
 
$
(104,872
)
Pension and other postretirement benefit plans
11,084

 
(3,725
)
 
7,359

 
17,316

 
(5,871
)
 
11,445

Changes in fair value of cash flow hedges
(557
)
 
195

 
(362
)
 
505

 
(176
)
 
329

Other
1,853

 
(221
)
 
1,632

 
1,003

 
(119
)
 
884

Total other comprehensive loss
$
(12,056
)
 
$
(1,049
)
 
$
(13,105
)
 
$
(76,263
)
 
$
(15,951
)
 
$
(92,214
)

    
Total comprehensive earnings were as follows:
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2016
 
2015
 
2016
 
2015
Net earnings
$
130,084

 
$
186,098

 
$
347,730

 
$
728,004

Other comprehensive earnings (loss)
13,864

 
(53,511
)
 
(13,105
)
 
(92,214
)
Comprehensive earnings
$
143,948

 
$
132,587

 
$
334,625

 
$
635,790



Amounts reclassified from accumulated other comprehensive earnings (loss) to earnings (loss) during the three and nine months ended September 30, 2016 and 2015 were as follows:
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2016
 
2015
 
2016

2015
Pension and other postretirement benefit plans:
 
 
 
 
 
 
 
Amortization of actuarial losses
$
2,080

 
$
3,868

 
$
6,241

 
$
11,660

Amortization of prior service costs
1,615

 
1,885

 
4,843

 
5,656

Total before tax
3,695

 
5,753

 
11,084

 
17,316

Tax benefit
(1,242
)
 
(1,951
)
 
(3,725
)
 
(5,871
)
Net of tax
$
2,453

 
$
3,802

 
$
7,359

 
$
11,445

 
 
 
 
 
 
 
 
Cash flow hedges:
 
 
 
 
 
 
 
Net (losses) gains reclassified into (losses) earnings
$
(55
)
 
$
(1,042
)
 
$
201

 
$
(318
)
Tax provision (benefit)
19

 
364

 
(70
)
 
111

Net of tax
$
(36
)
 
$
(678
)
 
$
131

 
$
(207
)

The Company recognizes net periodic pension cost, which includes amortization of net actuarial losses and prior service costs, in both selling and administrative expenses and cost of goods and services, depending on the functional area of the underlying employees included in the plans.

Cash flow hedges consist mainly of foreign currency forward contracts. The Company recognizes the realized gains and losses on its cash flow hedges in the same line item as the hedged transaction, such as revenue, cost of goods and services, or selling and administrative expenses.