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EQUITY (Tables)
 9 Months Ended
Sep. 30, 2015
Stockholders' Equity Note [Abstract]  
Schedule of changes in equity
Changes in equity for the nine months ended September 30, 2015 are as follows:
 
Shareholders’
Equity
 
Non-controlling
Interests
 
Total Equity
Balance, December 31, 2014
$
1,282,549

 
$
3,232

 
$
1,285,781

Comprehensive income (loss):
 

 
 

 
 

Net income (loss)
78,786

 
(73
)
 
78,713

Other comprehensive income (loss)
149

 
(590
)
 
(441
)
Total comprehensive income (loss)
78,935

 
(663
)
 
78,272

 
 
 
 
 
 
Cash dividends declared - $0.87 per share
(64,626
)
 
—

 
(64,626
)
Issuance of shares under benefit plans
12,028

 
—

 
12,028

Purchase of shares for treasury
(297,804
)
 
—

 
(297,804
)
Transactions with non-controlling interests
—

 
(1,682
)
 
(1,682
)
Balance, September 30, 2015
$
1,011,082

 
$
887

 
$
1,011,969

Changes in equity for the nine months ended September 30, 2014 are as follows:
 
Shareholders’
Equity
 
Non-controlling
Interests
 
Total Equity
Balance, December 31, 2013
$
1,526,602

 
$
4,086

 
$
1,530,688

Comprehensive income (loss):
 

 
 

 
 

Net income (loss)
179,474

 
(929
)
 
178,545

Other comprehensive income (loss)
(42,838
)
 
765

 
(42,073
)
Total comprehensive income (loss)
136,636

 
(164
)
 
136,472

 
 
 
 
 
 
Cash dividends declared - $0.69 per share
(54,646
)
 
—

 
(54,646
)
Issuance of shares under benefit plans
15,634

 
—

 
15,634

Purchase of shares for treasury
(249,403
)
 
—

 
(249,403
)
Transactions with non-controlling interests
(1,484
)
 
(782
)
 
(2,266
)
Balance, September 30, 2014
$
1,373,339

 
$
3,140

 
$
1,376,479
Components of accumulated other comprehensive (loss) income
The following tables set forth the total changes in accumulated other comprehensive income (loss) ("AOCI") by component, net of taxes for the three months ended September 30, 2015 and 2014:
 
 
Three Months Ended September 30, 2015
 
 
Unrealized gain (loss) on derivatives designated and qualifying as cash flow hedges
 
Defined benefit pension plan activity
 
Currency translation adjustment
 
Total
Balance at June 30, 2015
 
$
512

 
$
(190,784
)
 
$
(131,608
)
 
$
(321,880
)
Other comprehensive income (loss)
before reclassification
 
(51
)
 
—

 
(47,149
)
3 

(47,200
)
Amounts reclassified from AOCI
 
(159
)
1 

80,766

2 

—


80,607

Net current-period other
comprehensive income (loss)
 
(210
)
 
80,766

 
(47,149
)
 
33,407

Balance at September 30, 2015
 
$
302

 
$
(110,018
)
 
$
(178,757
)
 
$
(288,473
)
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended September 30, 2014
 
 
Unrealized gain (loss) on derivatives designated and qualifying as cash flow hedges
 
Defined benefit pension plan activity
 
Currency translation adjustment
 
Total
Balance at June 30, 2014
 
$
(228
)
 
$
(155,613
)
 
$
7,450

 
$
(148,391
)
Other comprehensive income (loss)
before reclassification
 
397

 
—

 
(49,610
)
3 

(49,213
)
Amounts reclassified from AOCI
 
(84
)
1 

2,909

2 

—

 
2,825

Net current-period other
comprehensive income (loss)
 
313

 
2,909

 
(49,610
)
 
(46,388
)
Balance at September 30, 2014
 
$
85

 
$
(152,704
)
 
$
(42,160
)
 
$
(194,779
)
 
 
 
 
 
 
 
 
 
1
During the 2015 period, this AOCI reclassification is a component of Net sales of $(279) (net of tax of $(105)) and Cost of goods sold of $120 (net of tax of $90); during the 2014 period, the reclassification is a component of Net sales of $(23) (net of tax of $(20)) and Cost of goods sold of $(61) (net of tax of $(42)). (See Note 15 - Derivatives for additional details.)
2
This AOCI component is included in the computation of net periodic pension costs (net of tax of $50,079 and $1,974 during the three months ended September 30, 2015 and 2014, respectively). (See Note 13 - Retirement and Postretirement Benefit Plans for additional details.)
3
The Other comprehensive income (loss) before reclassifications excludes $(76) and $60 attributable to Non-controlling interests in the three months ended September 30, 2015 and 2014, respectively.
The following tables set forth the total changes in AOCI by component, net of taxes for the nine months ended September 30, 2015 and 2014:
 
 
Nine Months Ended September 30, 2015
 
 
Unrealized gain (loss) on derivatives designated and qualifying as cash flow hedges
 
Defined benefit pension plan activity
 
Currency translation adjustment
 
Total
Balance at December 31, 2014
 
$
(9
)
 
$
(197,893
)
 
$
(90,720
)
 
$
(288,622
)
Other comprehensive income (loss)
before reclassification
 
378

 
—

 
(88,037
)
3 

(87,659
)
Amounts reclassified from AOCI
 
(67
)
1 

87,875

2 

—


87,808

Net current-period other
comprehensive income (loss)
 
311

 
87,875

 
(88,037
)
 
149

Balance at September 30, 2015
 
$
302

 
$
(110,018
)
 
$
(178,757
)
 
$
(288,473
)
 
 
 
 
 
 
 
 
 
 
 
Nine Months Ended September 30, 2014
 
 
Unrealized gain (loss) on derivatives designated and qualifying as cash flow hedges
 
Defined benefit pension plan activity
 
Currency translation adjustment
 
Total
Balance at December 31, 2013
 
$
369

 
$
(160,693
)
 
$
8,383

 
$
(151,941
)
Other comprehensive income (loss)
before reclassification
 
(486
)
 
—

 
(50,543
)
3 

(51,029
)
Amounts reclassified from AOCI
 
202

1 

7,989

2 

—

 
8,191

Net current-period other
comprehensive income (loss)
 
(284
)
 
7,989

 
(50,543
)
 
(42,838
)
Balance at September 30, 2014
 
$
85

 
$
(152,704
)
 
$
(42,160
)
 
$
(194,779
)
 
 
 
 
 
 
 
 
 
1
During the 2015 period, this AOCI reclassification is a component of Net sales of $(800) (net of tax of $(429)) and Cost of goods sold of $733 (net of tax of $497); during the 2014 period, the reclassification is a component of Net sales of $27 (net of tax of $(10)) and Cost of goods sold of $175 (net of tax of $63). (See Note 15 - Derivatives for additional details.)
2
This AOCI component is included in the computation of net periodic pension costs (net of tax of $54,449 and $5,235 during the nine months ended September 30, 2015 and 2014, respectively). (See Note 13 - Retirement and Postretirement Benefit Plans for additional details.)
3
The Other comprehensive income (loss) before reclassifications excludes $(590) and $765 attributable to Non-controlling interests in the nine months ended September 30, 2015 and 2014, respectively.