Accumulated Other Comprehensive Income (AOCI) (Tables)

6 Months Ended

Jun. 30, 2016

Accumulated items of other comprehensive income:

Schedule of Accumulated Other Comprehensive Income

The table below presents changes in the components of AOCI for the period December 31, 2015 to June 30, 2016:

(in thousands)	Translation adjustments		Pension and postretirement liability adjustments		Derivative valuation adjustment		Total Other Comprehensive Income
December 31, 2015	($108,655	)	($48,725	)	($1,464	)	($158,844	)
Other comprehensive income/(loss) before reclassifications	2,393		12		(4,608	)	(2,203	)
Pension/postretirement plan remeasurements, net of tax	-		105		-		105
Interest expense related to swaps reclassified to the Statement of Income, net of tax	-		-		363		363
Pension and postretirement liability adjustments reclassified to Statement of Income, net of tax	-		244		-		244
Net current period other comprehensive income/(loss)	2,393		361		(4,245	)	(1,491	)
June 30, 2016	($106,262	)	($48,364	)	($5,709	)	($160,335	)

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

(in thousands)	Translation adjustments		Pension and postretirement liability adjustments		Derivative valuation adjustment		Total Other Comprehensive Income
December 31, 2014	($55,240	)	($51,666	)	($861	)	($107,767	)
Other comprehensive income/(loss) before reclassifications	(26,023	)	1,125		(744	)	(25,642	)
Interest expense related to swaps reclassified to the Statement of Income, net of tax	-		-		581		581
Pension and postretirement liability adjustments reclassified to Statement of Income, net of tax	-		485		-		485
Net current period other comprehensive income/(loss)	(26,023	)	1,610		(163	)	(24,576	)
June 30, 2015	($81,263	)	($50,056	)	($1,024	)	($132,343	)

Schedule of Accumulated Other Comprehensive Income Components Reclassified to Statement of Income

The table below presents the expense/(income) amounts reclassified, and the line items of the Consolidated Statements of Income that were affected for the periods ended June 30, 2016 and 2015.

	Three months ended  June 30,				Six months ended  June 30,
(in thousands)	2016		2015		2016		2015
Pretax Derivative valuation reclassified from Accumulated Other Comprehensive Income:
Payments made on interest rate swaps included in Income before taxes(a)	$305		$467		$586		$953
Income tax effect	(116	)	(182	)	(223	)	(372	)
Effect on net income due to items reclassified from Accumulated Other Comprehensive Income	$189		$285		$363		$581
Pretax pension and postretirement liabilities reclassified from Accumulated Other Comprehensive Income:
Amortization of prior service credit	($1,112	)	($1,111	)	($2,225	)	($2,220	)
Amortization of net actuarial loss	1,296		1,461		2,574		2,966
Total pretax amount reclassified (b)	184		350		349		746
Income tax effect	(56	)	(122	)	(105	)	(261	)
Effect on net income due to items reclassified from Accumulated Other Comprehensive Income	$128		$228		$244		$485

(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).