Accumulated Other Comprehensive Income (Tables)

12 Months Ended

Dec. 31, 2017

Accumulated items of other comprehensive income:

Schedule of Accumulated Other Comprehensive Income

The table below presents changes in the components of AOCI from January 1, 2015 to December 31, 2017:

(in thousands)	Translation adjustments		Pension and postretirement liability adjustments		Derivative valuation adjustment		Total Other Comprehensive Income
January 1, 2015	($55,240	)	($51,666	)	($861	)	($107,767	)
Other comprehensive income/(loss) before reclassifications	(53,415	)	2,238		(1,836	)	(53,013	)
Pension/postretirement settlements and curtailments			103				103
Pension/postretirement plan remeasurement			(622	)			(622	)
Interest expense related to swaps reclassified to the Statements of Income, net of tax					1,233		1,233
Pension and postretirement liability adjustments reclassified to Statements of Income, net of tax			1,222				1,222
Net current period other comprehensive income	(53,415	)	2,941		(603	)	(51,077	)
December 31, 2015	(108,655	)	(48,725	)	(1,464	)	(158,844	)
Other comprehensive income/(loss) before reclassifications	(24,643	)	676		804		(23,163	)
Pension/postretirement settlements and curtailments			45				45
Pension/postretirement plan remeasurement			(4,394	)			(4,394	)
Interest expense related to swaps reclassified to the Statements of Income, net of tax					1,488		1,488
Pension and postretirement liability adjustments reclassified to Statements of Income, net of tax			679				679
Net current period other comprehensive income	(24,643	)	(2,994	)	2,292		(25,345	)
December 31, 2016	(133,298	)	(51,719	)	828		(184,189	)
Other comprehensive income/(loss) before reclassifications	45,980		(1,818	)	201		44,363
Pension/postretirement plan remeasurement			2,037				2,037
Interest expense related to swaps reclassified to the Statements of Income, net of tax					924		924
Pension and postretirement liability adjustments reclassified to Statements of Income, net of tax			964				964
Net current period other comprehensive income	45,980		1,183		1,125		48,288
December 31, 2017	($87,318	)	($50,536	)	$1,953		($135,901	)

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 Statement of Income that were affected for the periods ended December 31, 2017, 2016 and 2015.

(in thousands)	2017		2016		2015
Pretax Derivative valuation reclassified from Accumulated Other Comprehensive Income:
Expense related to interest rate swaps included in Income    before taxes (a)	$1,490		$2,400		$1,988
Income tax effect	(566	)	(912	)	(755	)
Effect on net income due to items reclassified from Accumulated Other Comprehensive Income	$924		$1,488		$1,233
Pretax pension and postretirement liabilities reclassified from Accumulated Other Comprehensive Income:
Pension/postretirement settlements and curtailments	$-		$51		$103
Amortization of prior service credit	(4,453	)	(4,450	)	(4,440	)
Amortization of net actuarial loss	5,439		5,102		5,932
Total pretax amount reclassified (b)	986		703		1,595
Income tax effect	(22	)	21		(270	)
Effect on net income due to items reclassified from Accumulated Other Comprehensive Income	$964		$724		$1,325

(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).