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Accumulated Other Comprehensive Income (Loss)
 12 Months Ended
Dec. 31, 2017
Accumulated Other Comprehensive Income (Loss) [Abstract]  
Accumulated Other Comprehensive Income (Loss)
Note 10 – Accumulated Other Comprehensive Income (Loss)

The cumulative balance of each component of other comprehensive income (loss) and the income tax effects allocated to each component are as follows:

  
Pension and other post-retirement actuarial items
  
Currency translation adjustment
  
Unrealized gain (loss) on available-for-sale securities
  
Total
 
             
Balance at January 1, 2015
 
$
(155,760
)
 
$
84,703
  
$
1,917
  
$
(69,140
)
Other comprehensive income before reclassifications
  
15,169
   
(80,106
)
  
(1,503
)
 
$
(66,440
)
Tax effect
  
(4,196
)
  
-
   
526
  
$
(3,670
)
Other comprehensive income before reclassifications, net of tax
  
10,973
   
(80,106
)
  
(977
)
 
$
(70,110
)
Amounts reclassified out of AOCI
  
12,869
   
-
   
(680
)
 
$
12,189
 
Tax effect
  
(4,504
)
  
-
   
238
  
$
(4,266
)
Amounts reclassified out of AOCI, net of tax
  
8,365
   
-
   
(442
)
 
$
7,923
 
Net comprehensive income (loss)
 
$
19,338
  
$
(80,106
)
 
$
(1,419
)
 
$
(62,187
)
Balance at December 31, 2015
 
$
(136,422
)
 
$
4,597
  
$
498
  
$
(131,327
)
Other comprehensive income before reclassifications
  
(32,398
)
  
(35,863
)
  
941
  
$
(67,320
)
Tax effect
  
9,815
   
-
   
(329
)
 
$
9,486
 
Other comprehensive income before reclassifications, net of tax
  
(22,583
)
  
(35,863
)
  
612
  
$
(57,834
)
Amounts reclassified out of AOCI
  
91,014
   
-
   
-
  
$
91,014
 
Tax effect
  
3,495
   
-
   
-
  
$
3,495
 
Amounts reclassified out of AOCI, net of tax
  
94,509
   
-
   
-
  
$
94,509
 
Net comprehensive income (loss)
 
$
71,926
  
$
(35,863
)
 
$
612
  
$
36,675
 
Balance at December 31, 2016
 
$
(64,496
)
 
$
(31,266
)
 
$
1,110
  
$
(94,652
)
Other comprehensive income before reclassifications
  
(15,671
)
  
124,220
   
1,881
  
$
110,430
 
Tax effect
  
4,373
   
-
   
(659
)
 
$
3,714
 
Other comprehensive income before reclassifications, net of tax
  
(11,298
)
  
124,220
   
1,222
  
$
114,144
 
Amounts reclassified out of AOCI
  
9,147
   
-
   
(817
)  
$
8,330
 
Tax effect
  
(2,394
)
  
-
   
286
  
$
(2,108
)
Amounts reclassified out of AOCI, net of tax
  
6,753
   
-
   
(531
)  
$
6,222
 
Net comprehensive income (loss)
 
$
(4,545
)
 
$
124,220
  
$
691
  
$
120,366
 
Balance at December 31, 2017
 
$
(69,041
)
 
$
92,954
  
$
1,801
  
$
25,714
 

Reclassifications of pension and other post-retirement actuarial items out of AOCI, including the recognition of the settlement charge for the termination of the Vishay Retirement Plan in 2016,  are included in the computation of net periodic benefit cost (see Note 11).  Historically, valuation allowances were recorded against the deferred taxes associated with certain unrecognized pension and other postretirement actuarial items.  Changes in estimates related to these valuation allowances are recorded in the statement of operations and do not affect accumulated other comprehensive income until the underlying pension or other postretirement benefit plan is extinguished.  As a result of the termination and settlement of the Vishay Retirement Plan, the Company recorded $34,853 of additional income tax expense and the related reclassification adjustment within accumulated other comprehensive income related to changes in estimates recorded in 2010.

The amount of unrealized gains (losses) on available-for-sale securities reclassified out of AOCI as a result of sales of securities held by the Company's rabbi trust used to fund a deferred compensation plan was $817, $0, and $680 for the years ended December 31, 2017, 2016, and 2015, respectively.  These reclassifications are recorded as a component of compensation expense within Selling, General, and Administrative expenses on the accompanying consolidated statements of operations. The pre-tax amount of unrealized gains (losses) on available-for-sale securities reclassified out of AOCI as a result of sales of available-for-sale securities was $0 for the years ended December 31, 2017, 2016, and 2015.  These reclassifications are recorded as a component of Other Income on the accompanying consolidated statements of operations.  The tax effect of the reclassifications of unrealized gains (losses) on available-for-sale securities is recorded as a component of Income Tax Expense on the accompanying consolidated statements of operations.

Other comprehensive income (loss) includes Vishay's proportionate share of other comprehensive income (loss) of nonconsolidated subsidiaries accounted for under the equity method.