Accumulated Other Comprehensive Income (AOCI) (Tables)

9 Months Ended

Sep. 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 September 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	2,216		330		(4,300	)	(1,754	)
Interest expense related to swaps reclassified to the Statement of Income, net of tax	-		-		1,045		1,045
Pension and postretirement liability adjustments reclassified to Statement of Income, net of tax	-		372		-		372
Net current period other comprehensive income/(loss)	2,216		702		(3,255	)	(337	)
September 30, 2016	($106,439	)	($48,023	)	($4,719	)	($159,181	)

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
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	)

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 September 30, 2016 and 2015.

	Three months ended September 30,				Nine months ended September 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)	$1,100		$587		$1,686		$1,540
Income tax effect	(418	)	(229	)	(641	)	(601	)
Effect on net income due to items reclassified from Accumulated Other Comprehensive Income	$682		$358		$1,045		$939
Pretax pension and postretirement liabilities reclassified from Accumulated Other Comprehensive Income:
Amortization of prior service credit	($1,113	)	($1,110	)	($3,338	)	($3,330	)
Amortization of net actuarial loss	1,296		1,462		3,870		4,428
Total pretax amount reclassified (b)	183		352		532		1,098
Income tax effect	(55	)	(123	)	(160	)	(384	)
Effect on net income due to items reclassified from Accumulated Other Comprehensive Income	$128		$229		$372		$714

(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).