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Accumulated Other Comprehensive Income (Loss) (Tables)
 3 Months Ended
Mar. 31, 2016
Equity [Abstract]  
Summary of Changes in Accumulated Other Comprehensive Income (Loss)

Below is the change in the Company’s accumulated other comprehensive income (loss) (AOCI) balance by component (net of income taxes) for the three months ended March 31, 2016 and 2015:

 

(In thousands)

 

Foreign

Currency

Translation

Adjustments

 

 

Defined

Benefit

Pension Plan

Adjustments

 

 

Cash Flow

Hedge

Adjustments

 

 

Total

 

Balance at December 31, 2014

 

$

(42,914

)

 

$

(41,149

)

 

$

118

 

 

$

(83,945

)

Other comprehensive income before reclassifications

 

 

(25,137

)

 

 

—

 

 

 

(43

)

 

 

(25,180

)

Amounts reclassified from AOCI

 

 

—

 

 

 

749

 

 

 

1

 

 

 

750

 

Net current-period other comprehensive income

 

 

(25,137

)

 

 

749

 

 

 

(42

)

 

 

(24,430

)

Balance at March 31, 2015

 

$

(68,051

)

 

$

(40,400

)

 

$

76

 

 

$

(108,375

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance at December 31, 2015

 

$

(88,337

)

 

$

(36,825

)

 

$

74

 

 

$

(125,088

)

Other comprehensive income before reclassifications

 

 

12,579

 

 

 

—

 

 

 

(23

)

 

 

12,556

 

Amounts reclassified from AOCI

 

 

—

 

 

 

564

 

 

 

2

 

 

 

566

 

Net current-period other comprehensive income

 

 

12,579

 

 

 

564

 

 

 

(21

)

 

 

13,122

 

Balance at March 31, 2016

 

$

(75,758

)

 

$

(36,261

)

 

$

53

 

 

$

(111,966

)

 
Summary of Reclassifications Out of Accumulated Other Comprehensive Income

 

 

Information regarding the reclassifications out of AOCI for the three month periods ended March 31, 2016 and 2015, is displayed below:

 

(In thousands)

 

Amount Reclassified from AOCI (a)

 

AOCI Components

 

Three Months Ended

March 31

 

 

Affected Line Item in

Consolidated Statements

of Income

 

 

2016

 

 

2015

 

 

 

Amortization of defined benefit pension actuarial losses

 

$

(902

)

 

$

(1,194

)

 

(b)

 

 

 

338

 

 

 

445

 

 

Tax benefit

 

 

$

(564

)

 

$

(749

)

 

Net of tax

Gains and losses on cash flow hedges:

 

 

 

 

 

 

 

 

 

 

Interest rate contracts

 

$

(6

)

 

$

(5

)

 

Interest, net

Foreign exchange contracts

 

 

2

 

 

 

2

 

 

Cost of sales

 

 

 

(4

)

 

 

(3

)

 

Total before tax

 

 

 

2

 

 

 

2

 

 

Tax benefit

 

 

$

(2

)

 

$

(1

)

 

Net of tax

Total reclassifications for the period

 

$

(566

)

 

$

(750

)

 

Net of tax

 

 

(a)

Amounts in parentheses denote expense to statement of income.

 

(b)

This component of accumulated other comprehensive income is included in the computation of net periodic benefit cost (see Note 8 for additional details).