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Accumulated Other Comprehensive Income
6 Months Ended
Jun. 30, 2018
Equity [Abstract]  
Accumulated Other Comprehensive Income

7.

ACCUMULATED OTHER COMPREHENSIVE INCOME

The following table sets forth details of the changes in accumulated other comprehensive income (losses) for the three months and six months ended June 30, 2018 and 2017.

In thousands

Currency translation adjustments

 

 

Unrealized gain (loss) on cash flow hedges

 

 

Change in pensions

 

 

Change in other postretirement defined benefit plans

 

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance at April 1, 2018

 

(29,092

)

 

 

(5,894

)

 

 

(118,428

)

 

 

4,461

 

 

 

(148,953

)

Other comprehensive income (loss) before reclassifications (net of tax)

 

(33,223

)

 

 

3,368

 

 

 

 

 

 

 

 

 

(29,855

)

Amounts reclassified from accumulated

   other comprehensive income  (net of tax)

 

 

 

 

1,181

 

 

 

3,261

 

 

 

(240

)

 

 

4,202

 

Net current period other comprehensive income (loss)

 

(33,223

)

 

 

4,549

 

 

 

3,261

 

 

 

(240

)

 

 

(25,653

)

Balance at June 30, 2018

$

(62,315

)

 

$

(1,345

)

 

$

(115,167

)

 

$

4,221

 

 

$

(174,606

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance at April 1, 2017

$

(94,383

)

 

$

554

 

 

$

(108,466

)

 

$

4,882

 

 

$

(197,413

)

Other comprehensive income (loss) before reclassifications (net of tax)

 

27,504

 

 

 

(3,080

)

 

 

 

 

 

(106

)

 

 

24,318

 

Amounts reclassified from accumulated

   other comprehensive income  (net of tax)

 

 

 

 

(571

)

 

 

2,642

 

 

 

(57

)

 

 

2,014

 

Net current period other comprehensive income (loss)

 

27,504

 

 

 

(3,651

)

 

 

2,642

 

 

 

(163

)

 

 

26,332

 

Balance at June 30, 2017

$

(66,879

)

 

$

(3,097

)

 

$

(105,824

)

 

$

4,719

 

 

$

(171,081

)

 

 

In thousands

Currency translation adjustments

 

 

Unrealized gain (loss) on cash flow hedges

 

 

Change in pensions

 

 

Change in other postretirement defined benefit plans

 

 

Total

 

Balance at January 1, 2018

$

(41,839

)

 

$

(4,092

)

 

$

(98,295

)

 

$

3,551

 

 

$

(140,675

)

Amount reclassified for adoption of ASU No. 2018-02

 

 

 

 

 

 

 

 

 

(23,297

)

 

 

999

 

 

 

(22,298

)

Balance as adjusted at January 1, 2018

 

(41,839

)

 

 

(4,092

)

 

 

(121,592

)

 

 

4,550

 

 

 

(162,973

)

Other comprehensive income (loss) before reclassifications (net of tax)

 

(20,476

)

 

 

151

 

 

 

 

 

 

 

 

 

(20,325

)

Amounts reclassified from accumulated

   other comprehensive income  (net of tax)

 

 

 

 

2,596

 

 

 

6,425

 

 

 

(329

)

 

 

8,692

 

Net current period other comprehensive income (loss)

 

(20,476

)

 

 

2,747

 

 

 

6,425

 

 

 

(329

)

 

 

(11,633

)

Balance at June 30, 2018

$

(62,315

)

 

$

(1,345

)

 

$

(115,167

)

 

$

4,221

 

 

$

(174,606

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance at January 1, 2017

$

(100,448

)

 

$

1,500

 

 

$

(110,656

)

 

$

4,998

 

 

$

(204,606

)

Other comprehensive income (loss) before reclassifications (net of tax)

 

33,569

 

 

 

(3,335

)

 

 

 

 

 

(106

)

 

 

30,128

 

Amounts reclassified from accumulated

   other comprehensive income  (net of tax)

 

 

 

 

(1,262

)

 

 

4,832

 

 

 

(173

)

 

 

3,397

 

Net current period other comprehensive income (loss)

 

33,569

 

 

 

(4,597

)

 

 

4,832

 

 

 

(279

)

 

 

33,525

 

Balance at June 30, 2017

$

(66,879

)

 

$

(3,097

)

 

$

(105,824

)

 

$

4,719

 

 

$

(171,081

)

 

Reclassifications out of accumulated other comprehensive income and into the condensed consolidated statements of income were as follows:

 

 

Three months ended June 30

 

 

Six months ended

June 30

 

 

 

In thousands

 

2018

 

 

2017

 

 

2018

 

 

2017

 

 

 

Description

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Line Item in Statements of Income

Cash flow hedges (Note 13)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Gains) losses on cash flow hedges

 

$

1,636

 

 

$

(785

)

 

$

3,595

 

 

$

(1,716

)

 

Costs of products sold

Tax expense (benefit)

 

 

(455

)

 

 

214

 

 

 

(999

)

 

 

454

 

 

Income tax provision (benefit)

Net of tax

 

 

1,181

 

 

 

(571

)

 

 

2,596

 

 

 

(1,262

)

 

 

Retirement plan obligations (Note 8)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amortization of deferred benefit pension plans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Prior service costs

 

 

781

 

 

 

708

 

 

 

1,561

 

 

 

1,412

 

 

Other, net

Actuarial losses

 

 

3,523

 

 

 

3,311

 

 

 

6,913

 

 

 

6,133

 

 

Other, net

 

 

 

4,304

 

 

 

4,019

 

 

 

8,474

 

 

 

7,545

 

 

 

Tax benefit

 

 

(1,043

)

 

 

(1,377

)

 

 

(2,049

)

 

 

(2,713

)

 

Income tax provision (benefit)

Net of tax

 

 

3,261

 

 

 

2,642

 

 

 

6,425

 

 

 

4,832

 

 

 

Amortization of deferred benefit other plans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Prior service costs

 

 

(46

)

 

 

(46

)

 

 

(91

)

 

 

(91

)

 

Other, net

Actuarial gains

 

 

(272

)

 

 

(46

)

 

 

(345

)

 

 

(189

)

 

Other, net

 

 

 

(318

)

 

 

(92

)

 

 

(436

)

 

 

(280

)

 

 

Tax expense

 

 

78

 

 

 

35

 

 

 

107

 

 

 

107

 

 

Income tax provision (benefit)

Net of tax

 

 

(240

)

 

 

(57

)

 

 

(329

)

 

 

(173

)

 

 

Total reclassifications, net of tax

 

$

4,202

 

 

$

2,014

 

 

$

8,692

 

 

$

3,397