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Accumulated Other Comprehensive Income (Loss) (Tables)
 6 Months Ended
Jun. 30, 2018
Equity [Abstract]  
Summary of Changes in Accumulated Other Comprehensive Income

Below is the change in the Company’s AOCI balance by component (net of income taxes) for the three and six months ended June 30, 2018 and 2017:

 

(In thousands)

 

Foreign

Currency

Translation

Adjustments

 

 

Defined

Benefit

Pension Plan

Adjustments

 

 

Cash Flow

Hedge

Adjustments

 

 

Total

 

Balance at March 31, 2017

 

$

(86,334

)

 

$

(30,225

)

 

$

98

 

 

$

(116,461

)

Other comprehensive income before reclassifications

 

 

5,977

 

 

 

—

 

 

 

—

 

 

 

5,977

 

Amounts reclassified from AOCI

 

 

—

 

 

 

567

 

 

 

(3

)

 

 

564

 

Net current-period other comprehensive income

 

 

5,977

 

 

 

567

 

 

 

(3

)

 

 

6,541

 

Balance at June 30, 2017

 

$

(80,357

)

 

$

(29,658

)

 

$

95

 

 

$

(109,920

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance at March 31, 2018

 

$

(61,776

)

 

$

(28,340

)

 

$

88

 

 

$

(90,028

)

Other comprehensive income before reclassifications

 

 

(35,012

)

 

 

—

 

 

 

—

 

 

 

(35,012

)

Amounts reclassified from AOCI

 

 

—

 

 

 

752

 

 

 

(2

)

 

 

750

 

Net current-period other comprehensive income

 

 

(35,012

)

 

 

752

 

 

 

(2

)

 

 

(34,262

)

Balance at June 30, 2018

 

$

(96,788

)

 

$

(27,588

)

 

$

86

 

 

$

(124,290

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance at December 31, 2016

 

$

(96,775

)

 

$

(30,790

)

 

$

100

 

 

$

(127,465

)

Other comprehensive income before reclassifications

 

 

16,418

 

 

 

—

 

 

 

—

 

 

 

16,418

 

Amounts reclassified from AOCI

 

 

—

 

 

 

1,132

 

 

 

(5

)

 

 

1,127

 

Net current-period other comprehensive income

 

 

16,418

 

 

 

1,132

 

 

 

(5

)

 

 

17,545

 

Balance at June 30, 2017

 

$

(80,357

)

 

$

(29,658

)

 

$

95

 

 

$

(109,920

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance at December 31, 2017

 

$

(70,561

)

 

$

(29,093

)

 

$

91

 

 

$

(99,563

)

Other comprehensive income before reclassifications

 

 

(26,227

)

 

 

—

 

 

 

—

 

 

 

(26,227

)

Amounts reclassified from AOCI

 

 

—

 

 

 

1,505

 

 

 

(5

)

 

 

1,500

 

Net current-period other comprehensive income

 

 

(26,227

)

 

 

1,505

 

 

 

(5

)

 

 

(24,727

)

Balance at June 30, 2018

 

$

(96,788

)

 

$

(27,588

)

 

$

86

 

 

$

(124,290

)

 
Summary of Amounts Reclassifications Out of Accumulated Other Comprehensive Income

 

 

Information regarding the reclassifications out of AOCI for the three and six month periods ended June 30, 2018 and 2017, is displayed below:

 

(In thousands)

 

Amount Reclassified from AOCI (a)

 

AOCI Components

 

Three Months Ended

June 30,

 

 

 

Six Months Ended

June 30,

 

 

Affected Line Item in

Consolidated Statements

of Income

 

 

2018

 

 

2017

 

 

 

2018

 

 

2017

 

 

 

Amortization of defined benefit pension actuarial losses

 

$

(992

)

 

$

(883

)

 

 

$

(1,986

)

 

$

(1,763

)

 

(b)

 

 

 

240

 

 

 

316

 

 

 

 

481

 

 

 

631

 

 

Tax benefit

 

 

$

(752

)

 

$

(567

)

 

 

$

(1,505

)

 

$

(1,132

)

 

Net of tax

Gains and losses on cash flow hedges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Foreign exchange contracts

 

 

2

 

 

 

3

 

 

 

 

5

 

 

 

5

 

 

Cost of sales

 

 

 

2

 

 

 

3

 

 

 

 

5

 

 

 

5

 

 

Total before tax

 

 

 

—

 

 

 

—

 

 

 

 

—

 

 

 

—

 

 

Tax benefit

 

 

$

2

 

 

$

3

 

 

 

$

5

 

 

$

5

 

 

Net of tax

Total reclassifications for the period

 

$

(750

)

 

$

(564

)

 

 

$

(1,500

)

 

$

(1,127

)

 

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).