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EQUITY (Tables)
 9 Months Ended
Sep. 30, 2018
Stockholders' Equity Note [Abstract]  
Schedule of changes in equity
Changes in equity for the nine months ended September 30, 2018 are as follows:
 
Shareholders’
Equity
 
Non-controlling
Interests
 
Total Equity
Balance at December 31, 2017
$
931,637

 
$
816

 
$
932,453

Comprehensive income (loss):
 

 
 

 
 

Net income
200,227

 
(13
)
 
200,214

Other comprehensive income (loss)
(24,428
)
 
(92
)
 
(24,520
)
Total comprehensive income (loss)
175,799

 
(105
)
 
175,694

 
 
 
 
 
 
Cash dividends declared - $1.17 per share
(76,833
)
 
—

 
(76,833
)
Issuance of shares under benefit plans
18,031

 
—

 
18,031

Purchase of shares for treasury (1)
(121,477
)
 
—

 
(121,477
)
Balance at September 30, 2018
$
927,157

 
$
711

 
$
927,868


(1)
The Company's total common shares authorized to be repurchased under the current repurchase program is 55 million shares.  As of September 30, 2018, there remained 7.1 million common shares available for repurchase under this program.  The repurchased common shares remain in treasury and have not been retired.
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, 2018 and 2017:
 
 
Three Months Ended September 30, 2018
 
 
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, 2018
 
$
498

 
$
(83,269
)
 
$
(193,708
)
 
$
(276,479
)
Other comprehensive income (loss)
before reclassification
 
1,218

 
—

 
(406
)
3 

812

Amounts reclassified from AOCI
 
198

1 

3,855

2 

—

 
4,053

Net current-period other
comprehensive income (loss)
 
1,416

 
3,855

 
(406
)
 
4,865

Balance at September 30, 2018
 
$
1,914

 
$
(79,414
)
 
$
(194,114
)
 
$
(271,614
)
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended September 30, 2017
 
 
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, 2017
 
$
1,834

 
$
(94,513
)
 
$
(179,844
)
 
$
(272,523
)
Other comprehensive income (loss)
before reclassification
 
(1,814
)
 
—

 
18,900

3 

17,086

Amounts reclassified from AOCI
 
1,130

1 

3,958

2 

—

 
5,088

Net current-period other
comprehensive income (loss)
 
(684
)
 
3,958

 
18,900

 
22,174

Balance at September 30, 2017
 
$
1,150

 
$
(90,555
)
 
$
(160,944
)
 
$
(250,349
)
(1)
During the 2018 period, this AOCI reclassification is a component of Net sales of $(124) (net of tax of $(19)) and Cost of goods sold of $74 (net of tax of $(5)); during the 2017 period, the reclassification is a component of Net sales of $968 (net of tax of $398) and Cost of goods sold of $162 (net of tax of $25). See Note 15 to the consolidated financial statements for additional details.
(2)
This AOCI component is included in the computation of net periodic pension costs (net of tax of $1,278 and $2,170 during the three months ended September 30, 2018 and 2017, respectively). See Note 12 to the consolidated financial statements for additional details.
(3)
The Other comprehensive income (loss) before reclassifications excludes $(61) and $31 attributable to Non-controlling interests in the three months ended September 30, 2018 and 2017, respectively.
The following tables set forth the total changes in AOCI by component, net of taxes, for the nine months ended September 30, 2018 and 2017:
 
 
Nine Months Ended September 30, 2018
 
 
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, 2017
 
$
875

 
$
(85,277
)
 
$
(162,784
)
 
$
(247,186
)
Other comprehensive income (loss)
before reclassification
 
987

 
—

 
(31,330
)
3 

(30,343
)
Amounts reclassified from AOCI
 
52

1 

5,863

2 

—

 
5,915

Net current-period other
comprehensive income (loss)
 
1,039

 
5,863

 
(31,330
)
 
(24,428
)
Balance at September 30, 2018
 
$
1,914

 
$
(79,414
)
 
$
(194,114
)
 
$
(271,614
)
 
 
 
 
 
 
 
 
 
 
 
Nine Months Ended September 30, 2017
 
 
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, 2016
 
$
587

 
$
(95,939
)
 
$
(233,685
)
 
$
(329,037
)
Other comprehensive income (loss)
before reclassification
 
(1,547
)
 
—

 
72,741

3 

71,194

Amounts reclassified from AOCI
 
2,110

1 

5,384

2 

—

 
7,494

Net current-period other
comprehensive income (loss)
 
563

 
5,384

 
72,741

 
78,688

Balance at September 30, 2017
 
$
1,150

 
$
(90,555
)
 
$
(160,944
)
 
$
(250,349
)

(1)
During the 2018 period, the AOCI reclassification is a component of Net sales of $(12) (net of tax of $(25)) and Cost of goods sold of $40 (net of tax of $(24)); during the 2017 period, the AOCI reclassification is a component of Net sales of $1,580 (net of tax of $602) and Cost of goods sold of $530 (net of tax of $214). See Note 15 to the consolidated financial statements for additional details.
(2)
The AOCI component is included in the computation of net periodic pension costs (net of tax of $1,927 and $2,532 during the nine months ended September 30, 2018 and 2017, respectively). See Note 12 to the consolidated financial statements for additional details.
(3)
The Other comprehensive income (loss) before reclassifications excludes $(92) and $79 attributable to Non-controlling interests in the nine months ended September 30, 2018 and 2017, respectively.