Accumulated Other Comprehensive Income (AOCI) (Tables)

6 Months Ended

Jun. 30, 2017

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, 2016 to June 30, 2017:

(in thousands)	Translation adjustments		Pension and postretirement liability adjustments		Derivative valuation adjustment		Total Other Comprehensive Income
December 31, 2016	($133,298	)	($51,719	)	$828		($184,189	)
Other comprehensive income/(loss) before reclassifications	28,453		(1,079	)	(619	)	26,755
Interest expense related to swaps reclassified to the Statement of Income, net of tax	-		-		585		585
Pension and postretirement liability adjustments reclassified to Statement of Income, net of tax	-		332		-		332
Net current period other comprehensive income	28,453		(747	)	(34	)	27,672
June 30, 2017	($104,845	)	($52,466	)	$794		($156,517	)

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 remeasurement	-		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	2,393		361		(4,245	)	(1,491	)
June 30, 2016	($106,262	)	($48,364	)	($5,709	)	($160,335	)

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 Statements of Income that were affected for the periods ended June 30, 2017 and 2016.

	Three months ended June 30,				Six months ended June 30,
(in thousands)	2017		2016		2017		2016
Pretax Derivative valuation reclassified from Accumulated Other Comprehensive Income:
Expense related to interest rate swaps included in Income before taxes(a)	$343		$305		$943		$586
Income tax effect	(130	)	(116	)	(358	)	(223	)
Effect on net income due to items reclassified from Accumulated Other Comprehensive Income	$213		$189		$585		$363
Pretax pension and postretirement liabilities reclassified from Accumulated Other Comprehensive Income:
Amortization of prior service credit	($1,113	)	($1,112	)	($2,226	)	($2,225	)
Amortization of net actuarial loss	1,353		1,296		2,700		2,574
Total pretax amount reclassified (b)	240		184		474		349
Income tax effect	(72	)	(56	)	(142	)	(105	)
Effect on net income due to items reclassified from Accumulated Other Comprehensive Income	$168		$128		$332		$244

(a) Included in Interest expense are payments related to the interest rate swap agreements and amortization of swap buyouts (see Note 15).

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