Accumulated Other Comprehensive (Loss) Income

9 Months Ended

Sep. 30, 2020

Accumulated Other Comprehensive (Loss) Income

Accumulated Other Comprehensive (Loss) Income:

The components and activity in Accumulated other comprehensive (loss) income (net of deferred income taxes) consisted of the following during the periods indicated below (in thousands):


	Foreign Currency Translation		Pension and Post-Retirement Benefits(a)		Net Investment Hedge		Cash Flow Hedge(b)		Interest Rate Swap(c)		Total
Three months ended September 30, 2020
Balance at June 30, 2020	$	(488,429)	$	490	$	77,103	$	(8,968)	$	(11,327)	$	(431,131)
Other comprehensive income (loss) before reclassifications	37,489		—		(12,408)		6,993		—		32,074
Amounts reclassified from accumulated other comprehensive loss	—		10		—		—		647		657
Other comprehensive income (loss), net of tax	37,489		10		(12,408)		6,993		647		32,731
Other comprehensive income attributable to noncontrolling interests	(67)		—		—		—		—		(67)
Balance at September 30, 2020	$	(451,007)	$	500	$	64,695	$	(1,975)	$	(10,680)	$	(398,467)
Three months ended September 30, 2019
Balance at June 30, 2019	$	(407,937)	$	(146)	$	72,604	$	—	$	(13,932)	$	(349,411)
Other comprehensive (loss) income before reclassifications	(100,069)		—		12,745		—		—		(87,324)
Amounts reclassified from accumulated other comprehensive loss	—		(5)		—		—		641		636
Other comprehensive (loss) income, net of tax	(100,069)		(5)		12,745		—		641		(86,688)
Other comprehensive loss attributable to noncontrolling interests	122		—		—		—		—		122
Balance at September 30, 2019	$	(507,884)	$	(151)	$	85,349	$	—	$	(13,291)	$	(435,977)
Nine months ended September 30, 2020
Balance at December 31, 2019	$	(469,210)	$	473	$	80,778	$	4,847	$	(12,623)	$	(395,735)
Other comprehensive income (loss) before reclassifications	18,350		—		(16,083)		(6,822)		—		(4,555)
Amounts reclassified from accumulated other comprehensive loss	—		27		—		—		1,943		1,970
Other comprehensive income (loss), net of tax	18,350		27		(16,083)		(6,822)		1,943		(2,585)
Other comprehensive income attributable to noncontrolling interests	(147)		—		—		—		—		(147)
Balance at September 30, 2020	$	(451,007)	$	500	$	64,695	$	(1,975)	$	(10,680)	$	(398,467)
Nine months ended September 30, 2019
Balance at December 31, 2018	$	(407,646)	$	(159)	$	72,337	$	—	$	(15,214)	$	(350,682)
Other comprehensive (loss) income before reclassifications	(100,380)		—		13,012		—		—		(87,368)
Amounts reclassified from accumulated other comprehensive loss	—		8		—		—		1,923		1,931
Other comprehensive (loss) income, net of tax	(100,380)		8		13,012		—		1,923		(85,437)
Other comprehensive loss attributable to noncontrolling interests	142		—		—		—		—		142
Balance at September 30, 2019	$	(507,884)	$	(151)	$	85,349	$	—	$	(13,291)	$	(435,977)

(a)The pre-tax portion of amounts reclassified from accumulated other comprehensive loss consists of amortization of prior service benefit, which is a component of pension and postretirement benefits cost (credit). See Note 12, “Pension Plans and Other Postretirement Benefits,” for additional information.

(b)We entered into a foreign currency forward contract, which was designated and accounted for as a cash flow hedge under ASC 815, Derivatives and Hedging. See Note 13, “Fair Value of Financial Instruments,” for additional information.

(c)The pre-tax portion of amounts reclassified from accumulated other comprehensive loss is included in interest expense.

The amount of income tax (expense) benefit allocated to each component of Other comprehensive income (loss) for the three-month and nine-month periods ended September 30, 2020 and 2019 is provided in the following tables (in thousands):


	Foreign Currency Translation		Pension and Postretirement Benefits		Net Investment Hedge		Cash Flow Hedge		Interest Rate Swap
Three months ended September 30, 2020
Other comprehensive income (loss), before tax	$	37,494	$	10	$	(16,029)	$	6,993	$	834
Income tax (expense) benefit	(5)		—		3,621		—		(187)
Other comprehensive income (loss), net of tax	$	37,489	$	10	$	(12,408)	$	6,993	$	647

Three months ended September 30, 2019
Other comprehensive (loss) income, before tax	$	(100,069)	$	(3)	$	16,584	$	—	$	834
Income tax expense	—		(2)		(3,839)		—		(193)
Other comprehensive (loss) income, net of tax	$	(100,069)	$	(5)	$	12,745	$	—	$	641

Nine months ended September 30, 2020
Other comprehensive income (loss), before tax	$	18,352	$	28	$	(20,755)	$	(6,822)	$	2,502
Income tax (expense) benefit	(2)		(1)		4,672		—		(559)
Other comprehensive income (loss), net of tax	$	18,350	$	27	$	(16,083)	$	(6,822)	$	1,943

Nine months ended September 30, 2019
Other comprehensive (loss) income, before tax	$	(100,379)	$	10	$	16,932	$	—	$	2,502
Income tax expense	(1)		(2)		(3,920)		—		(579)
Other comprehensive (loss) income, net of tax	$	(100,380)	$	8	$	13,012	$	—	$	1,923