Accumulated Other Comprehensive Income/(Loss)

9 Months Ended

Sep. 30, 2015

Accumulated Other Comprehensive Income/(Loss) [Abstract]

Accumulated Other Comprehensive Income/(Loss)

9. Accumulated Other Comprehensive Income/ (Loss)

The table below presents changes in the components of AOCI for the period December 31, 2014 to September 30, 2015:

(in thousands)	Translation adjustments			Pension and postretirement liability adjustments			Derivative valuation adjustment			Total Other Comprehensive Income/(loss)
December 31, 2014	$	(55,240	)	$	(51,666	)	$	(861	)	$	(107,767	)
Other comprehensive income/(loss) before reclassifications		(44,316	)		1,735			(2,374	)		(44,955	)
Interest expense related to swaps reclassified to the Statement of Income, net of tax		-			-			939			939
Pension and postretirement liability adjustments reclassified to Statement of Income, net of tax		-			714			-			714
Net current period other comprehensive income/(loss)		(44,316	)		2,449			(1,435	)		(43,302	)
September 30, 2015	$	(99,556	)	$	(49,217	)	$	(2,296	)	$	(151,069	)

The table below presents changes in the components of AOCI for the period December 31, 2013 to September 30, 2014:

(in thousands)	Translation adjustments			Pension and postretirement liability adjustments			Derivative valuation adjustment			Total Other Comprehensive Income/(loss)
December 31, 2013	$	(138	)	$	(48,383	)	$	(977	)	$	(49,498	)
Other comprehensive income/(loss) before reclassifications		(30,703	)		998			(530	)		(30,235	)
Interest expense related to swaps reclassified to the Statement of Income, net of tax		-			-			873			873
Pension and postretirement liability adjustments reclassified to Statement of Income, net of tax		-			421			-			421
Net current period other comprehensive income/(loss)		(30,703	)		1,419			343			(28,941	)
September 30, 2014	$	(30,841	)	$	(46,964	)	$	(634	)	$	(78,439	)

The table below presents the expense/(income) amounts reclassified, and the line items of the Statement of Income that were affected for the periods ended September 30, 2015 and 2014.

	Three months ended September 30,						Nine months ended September 30,
(in thousands)	2015			2014			2015			2014
Pretax Derivative valuation reclassified from Accumulated Other Comprehensive Income/(loss):
Payments made on interest rate swaps included in Income before taxes(a)	$	587		$	480		$	1,540		$	1,431
Income tax effect		(229	)		(187	)		(601	)		(558	)
Effect on net income due to items reclassified from Accumulated Other Comprehensive Income/(loss)	$	358		$	293		$	939		$	873
Pretax pension and postretirement liabilities reclassified from Accumulated Other Comprehensive Income/(loss):
Amortization of prior service credit	$	(1,110	)	$	(1,108	)	$	(3,330	)	$	(3,325	)
Amortization of net actuarial loss		1,462			1,343			4,428			4,026
Total pretax amount reclassified (b)		352			235			1,098			701
Income tax effect		(123	)		(94	)		(384	)		(280	)
Effect on net income due to items reclassified from Accumulated Other Comprehensive Income/(loss)	$	229		$	141		$	714		$	421

(a)  Included in Interest expense.

(b)  These accumulated other comprehensive income/ (loss) components are included in the computation of net periodic pension cost (see Note 4).