Accumulated Other Comprehensive Income (Loss)

3 Months Ended

Mar. 31, 2018

Accumulated Other Comprehensive Income (Loss) [Abstract]

Accumulated Other Comprehensive Income (Loss)

Note 7 – 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, 2018	$	(69,041	)	$	92,954	$	1,801		$	25,714
Cumulative effect of accounting for adoption of ASU 2016-01		-			-		(1,801	)	$	(1,801	)
Other comprehensive income before reclassifications		-			27,024		-		$	27,024
Tax effect		-			-		-		$	-
Other comprehensive income before reclassifications, net of tax		-			27,024		-		$	27,024
Amounts reclassified out of AOCI		2,296			-		-		$	2,296
Tax effect		(689	)		-		-		$	(689	)
Amounts reclassified out of AOCI, net of tax		1,607			-		-		$	1,607
Net other comprehensive income	$	1,607		$	27,024	$	-		$	28,631
Balance at March 31, 2018	$	(67,434	)	$	119,978	$	-		$	52,544

The Company recognized a cumulative-effect adjustment to retained earnings (accumulated deficit) of $1,801 for the cumulative change in fair value of available-for-sale equity investments previously recognized in other comprehensive income due to the adoption of ASU 2016-01.  See Note 1 for further information.

Reclassifications of pension and other post-retirement actuarial items out of AOCI are included in the computation of net periodic benefit cost.  See Note 8 for further information.