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Accumulated Other Comprehensive Income (Loss)
 9 Months Ended
Sep. 30, 2017
Equity [Abstract]  
Accumulated Other Comprehensive Income (Loss)

10.

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

Below are the changes in the Company’s AOCI balances by component (net of income taxes) for the three and nine months ended September 30, 2016 and 2017:

 

(In thousands)

 

Foreign

Currency

Translation

Adjustments

 

 

Defined

Benefit

Pension Plan

Adjustments

 

 

Cash Flow

Hedge

Adjustments

 

 

Total

 

Balance at June 30, 2016

 

$

(78,406

)

 

$

(35,696

)

 

$

47

 

 

$

(114,055

)

Other comprehensive income before reclassifications

 

 

(2,209

)

 

 

—

 

 

 

(2

)

 

 

(2,211

)

Amounts reclassified from AOCI

 

 

—

 

 

 

497

 

 

 

2

 

 

 

499

 

Net current-period other comprehensive income

 

 

(2,209

)

 

 

497

 

 

 

—

 

 

 

(1,712

)

Balance at September 30, 2016

 

$

(80,615

)

 

$

(35,199

)

 

$

47

 

 

$

(115,767

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance at June 30, 2017

 

$

(80,357

)

 

$

(29,658

)

 

$

95

 

 

$

(109,920

)

Other comprehensive income before reclassifications

 

 

9,811

 

 

 

—

 

 

 

—

 

 

 

9,811

 

Amounts reclassified from AOCI

 

 

—

 

 

 

539

 

 

 

(2

)

 

 

537

 

Net current-period other comprehensive income

 

 

9,811

 

 

 

539

 

 

 

(2

)

 

 

10,348

 

Balance at September 30, 2017

 

$

(70,546

)

 

$

(29,119

)

 

$

93

 

 

$

(99,572

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance at December 31, 2015

 

$

(88,337

)

 

$

(36,825

)

 

$

74

 

 

$

(125,088

)

Other comprehensive income before reclassifications

 

 

7,722

 

 

 

—

 

 

 

(34

)

 

$

7,688

 

Amounts reclassified from AOCI

 

 

—

 

 

 

1,626

 

 

 

7

 

 

$

1,633

 

Net current-period other comprehensive income

 

 

7,722

 

 

 

1,626

 

 

 

(27

)

 

 

9,321

 

Balance at September 30, 2016

 

$

(80,615

)

 

$

(35,199

)

 

$

47

 

 

$

(115,767

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance at December 31, 2016

 

$

(96,775

)

 

$

(30,790

)

 

$

100

 

 

$

(127,465

)

Other comprehensive income before reclassifications

 

 

26,229

 

 

 

—

 

 

 

—

 

 

 

26,229

 

Amounts reclassified from AOCI

 

 

—

 

 

 

1,671

 

 

 

(7

)

 

 

1,664

 

Net current-period other comprehensive income

 

 

26,229

 

 

 

1,671

 

 

 

(7

)

 

 

27,893

 

Balance at September 30, 2017

 

$

(70,546

)

 

$

(29,119

)

 

$

93

 

 

$

(99,572

)

 

Information regarding the reclassifications out of AOCI for the three and nine months ended September 30, 2017 and 2016, is displayed below:

 

(In thousands)

 

Amount Reclassified from AOCI (a)

 

 

 

AOCI Components

 

Three Months Ended

September 30

 

 

Nine Months Ended

September 30

 

 

Affected Line Item in

Consolidated Statements

of Income

 

 

2017

 

 

2016

 

 

2017

 

 

2016

 

 

 

Amortization of defined benefit pension actuarial losses

 

$

(835

)

 

$

(794

)

 

$

(2,598

)

 

$

(2,598

)

 

(b)

 

 

 

296

 

 

 

297

 

 

 

927

 

 

 

972

 

 

Tax benefit

 

 

$

(539

)

 

$

(497

)

 

$

(1,671

)

 

$

(1,626

)

 

Net of tax

Gains and losses on cash flow hedges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate contracts

 

$

—

 

 

$

(7

)

 

$

—

 

 

$

(20

)

 

Interest, net

Foreign exchange contracts

 

 

2

 

 

 

3

 

 

 

7

 

 

 

7

 

 

Cost of sales

 

 

 

2

 

 

 

(4

)

 

 

7

 

 

 

(13

)

 

Total before tax

 

 

 

—

 

 

 

2

 

 

 

—

 

 

 

6

 

 

Tax benefit

 

 

$

2

 

 

$

(2

)

 

$

7

 

 

$

(7

)

 

Net of tax

Total reclassifications for the period

 

$

(537

)

 

$

(499

)

 

$

(1,664

)

 

$

(1,633

)

 

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).