Accumulated Other Comprehensive Loss

9 Months Ended

Sep. 30, 2016

Accumulated Other Comprehensive Loss [Abstract]

Accumulated Other Comprehensive Loss

Note K – Accumulated Other Comprehensive Loss

The components of Accumulated Other Comprehensive Loss on the Consolidated Balance Sheets at December 31, 2015 and September30, 2016 and the changes during the nine-month period ended September30, 2016 are presented net of taxes in the following table.

					Deferred
					Loss on
		Foreign	Retirement and		Interest
		Currency	Postretirement		Rate
		Translation	Benefit Plan		Derivative
(Thousands of dollars)		Gains (Losses)1	Adjustments1		Hedges1		Total1
Balance at December 31, 2015	$	(513,004)	(179,260)		(12,278)		(704,542)
Components of other comprehensive income:
Before reclassifications to income		124,522	(3)		–		124,519
Reclassifications to income		–	7,547	2	1,445	3	8,992
Net other comprehensive income		124,522	7,544		1,445		133,511
Balance at September 30, 2016	$	(388,482)	(171,716)		(10,833)		(571,031)

1All amounts are presented net of income taxes.

2Reclassifications before taxes of $11,602 for thenine-month period ended September30, 2016 are included in the computation of net periodic benefit expense.  See Note G for additional information.  Related income taxes of $4,055for the nine-month period ended September30, 2016 are included in Income tax expense.

3Reclassifications before taxes of $2,222for the nine-month period ended September30, 2016 are included in Interest expense.  Related income taxes of $777 for the nine-month period ended September30, 2016 are included in Income tax expense.