Accumulated Other Comprehensive Income (AOCI) (Tables)

9 Months Ended

Sep. 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 September 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	40,775		(1,427	)	(679	)	38,669
Interest expense related to swaps reclassified to the Statement of Income, net of tax	-		-		768		768
Pension and postretirement liability adjustments reclassified to Statement of Income, net of tax	-		498		-		498
Net current period other comprehensive income	40,775		(929	)	89		39,935
September 30, 2017	($92,523	)	($52,648	)	$917		($144,254	)

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	2,216		702		(3,255	)	(337	)
September 30, 2016	($106,439	)	($48,023	)	($4,719	)	($159,181	)

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 September 30, 2017 and 2016.

	Three months ended September 30,				Nine months ended September 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)	$295		$1,100		$1,238		$1,686
Income tax effect	(112	)	(418	)	(470	)	(641	)
Effect on net income due to items reclassified from Accumulated Other Comprehensive Income	$183		$682		$768		$1,045
Pretax pension and postretirement liabilities reclassified from Accumulated Other Comprehensive Income:
Amortization of prior service credit	($1,113	)	($1,113	)	($3,339	)	($3,338	)
Amortization of net actuarial loss	1,350		1,296		4,050		3,870
Total pretax amount reclassified (b)	237		183		711		532
Income tax effect	(71	)	(55	)	(213	)	(160	)
Effect on net income due to items reclassified from Accumulated Other Comprehensive Income	$166		$128		$498		$372

(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).