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Accumulated Other Comprehensive Income (AOCI) (Tables)
12 Months Ended
Dec. 31, 2020
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Schedule of Accumulated Other Comprehensive Income (Loss)
The table below presents changes in the components of AOCI from January 1, 2018 to December 31, 2020:
(in thousands)
Translation adjustments
Pension and postretirement liability adjustments
Derivative valuation adjustment
Total Other Comprehensive Income
January 1, 2018$(87,318)$(50,536)$1,953 $(135,901)
Other comprehensive income/(loss) before reclassifications(28,658)1,275 2,853 (24,530)
Pension/postretirement settlements and curtailments— 1,146 — 1,146 
Pension/postretirement plan remeasurement— 443 — 443 
Interest expense related to swaps reclassified to the Statements of Income, net of tax— — (109)(109)
Pension and postretirement liability adjustments reclassified to Statements of Income, net of tax— 563 — 563 
Net current period other comprehensive income(28,658)3,427 2,744 (22,487)
December 31, 2018$(115,976)$(47,109)$4,697 $(158,388)
Other comprehensive income/(loss) before reclassifications(6,876)(525)(10,523)(17,924)
Pension/postretirement settlements and curtailments— 376 — 376 
Pension/postretirement plan remeasurement— (1,437)— (1,437)
Interest expense related to swaps reclassified to the Statements of Income, net of tax— — 2,691 2,691 
Pension and postretirement liability adjustments reclassified to Statements of Income, net of tax— 47 — 47 
Adjustment related to prior period change in opening valuation allowance— (1,346)— (1,346)
Net current period other comprehensive income(6,876)(2,885)(7,832)(17,593)
December 31, 2019$(122,852)$(49,994)$(3,135)$(175,981)
Other comprehensive income/(loss) before reclassifications39,649 (722)(9,363)29,564 
Pension/postretirement settlements and curtailments— 283 — 283 
Pension/postretirement plan remeasurement— 10,390 — 10,390 
Interest expense related to swaps reclassified to the Statements of Income, net of tax— — 2,954 2,954 
Pension and postretirement liability adjustments reclassified to Statements of Income, net of tax— 382 — 382 
Net current period other comprehensive income39,649 10,333 (6,409)43,573 
December 31, 2020$(83,203)$(39,661)$(9,544)$(132,408)
Schedule of Items Reclassified to Statement of Income
The table below presents the expense/(income) amounts reclassified, and the line items of the Statement of Income that were affected for the years ended December 31, 2020, 2019, and 2018.
(in thousands)
202020192018
Pretax Derivative valuation reclassified from Accumulated Other Comprehensive Income:
Expense related to interest rate swaps included in Income before taxes(a)
$3,982 $(1,011)$(146)
Income tax effect
(1,028)259 37 
Effect on net income due to items reclassified from Accumulated Other Comprehensive Income$2,954 $(752)($109)
Pretax pension and postretirement liabilities reclassified from Accumulated Other Comprehensive Income:
Pension/postretirement settlements and curtailments
$411 $450 $1,494 
Amortization of prior service credit
(4,474)(4,420)(4,454)
Amortization of net actuarial loss
5,004 4,480 5,175 
Total pretax amount reclassified(b)
941 510 2,215 
Income tax effect
(276)(87)(506)
Effect on net income due to items reclassified from Accumulated Other Comprehensive Income$665 $423 $1,709 
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(a)Included in interest expense, net are payments related to the interest rate swap agreements and amortization of swap buyouts (see Notes 17 and 18).
(b)These accumulated other comprehensive income components are included in the computation of net periodic pension cost (see Note 4).