ACCUMULATED OTHER COMPREHENSIVE INCOME

The following table presents changes in accumulated other comprehensive income by component for the six months ended June 30, 2018 and 2017:



	Currency Translation Adjustment, Net of Tax			Net Unrealized Gain (Loss) on Cash Flow Hedging Arrangements, Net of Tax			Pension and Post-Retirement Benefit Related Items, Net of Tax			Total
Balance at December 31, 2017	$	(31,340	)	$	(1,081	)	$	(232,985	)	$	(265,406	)
Other comprehensive income (loss), net of tax:
Unrealized gains (losses) cash flow hedging arrangements	—			1,782			—			1,782
Foreign currency translation adjustment	(13,894		)	—			3,865			(10,029		)
Amounts recognized from accumulated other comprehensive income (loss), net of tax	—			682			7,250			7,932
Net change in other comprehensive income (loss), net of tax	(13,894		)	2,464			11,115			(315		)
Balance at June 30, 2018	$	(45,234	)	$	1,383		$	(221,870	)	$	(265,721	)



	Currency Translation Adjustment, Net of Tax			Net Unrealized Gain (Loss) on Cash Flow Hedging Arrangements, Net of Tax			Pension and Post-Retirement Benefit Related Items, Net of Tax			Total
Balance at December 31, 2016	$	(115,322	)	$	(2,232	)	$	(237,444	)	$	(354,998	)
Other comprehensive income (loss), net of tax:
Unrealized gains (losses) cash flow hedging arrangements	—			(2,016		)	—			(2,016		)
Foreign currency translation adjustment	61,299			—			(11,960		)	49,339
Amounts recognized from accumulated other comprehensive income (loss), net of tax	—			1,824			7,465			9,289
Net change in other comprehensive income (loss), net of tax	61,299			(192		)	(4,495		)	56,612
Balance at June 30, 2017	$	(54,023	)	$	(2,424	)	$	(241,939	)	$	(298,386	)

The following table presents amounts recognized from accumulated other comprehensive income (loss) for the three and six month periods ended June 30:



	Three months ended June 30,
	2018		2017		Location of Amounts Recognized in Earnings
Effective portion of (gains) / losses on cash flow hedging arrangements:
Interest rate swap agreements	$	158	$	505	Interest expense
Cross currency swap agreement	4,098		1,412		(a)
Total before taxes	4,256		1,917
Provision for taxes	360		305		Provision for taxes
Total, net of taxes	$	3,896	$	1,612

Recognition of defined benefit pension and post-retirement items:
Recognition of actuarial losses and prior service cost, before taxes	$	4,687	$	5,054	(b)
Provision for taxes	1,123		1,301		Provision for taxes
Total, net of taxes	$	3,564	$	3,753

(a) The cross currency swap reflects an unrealized loss of $4.8 million recorded in other charges (income) that was offset by the underlying unrealized gain on the hedged debt. The cross currency swap also reflects a realized gain of $0.7 million recorded in interest expense.

(b) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and post-retirement cost. See Note 11 for additional details for the three months ended June 30, 2018 and 2017.



	Six months ended June 30,
	2018		2017		Location of Amounts Recognized in Earnings
Effective portion of (gains) / losses on cash flow hedging arrangements:
Interest rate swap agreements	$	435	$	849	Interest expense
Cross currency swap agreement	387		1,412		(a)
Total before taxes	822		2,261
Provision for taxes	140		437		Provision for taxes
Total, net of taxes	$	682	$	1,824

Recognition of defined benefit pension and post-retirement items:
Recognition of actuarial losses and prior service cost, before taxes	$	9,498	$	10,093	(b)
Provision for taxes	2,248		2,628		Provision for taxes
Total, net of taxes	$	7,250	$	7,465

(a) The cross currency swap reflects an unrealized loss of $1.8 million recorded in other charges (income) that was offset by the underlying unrealized gain on the hedged debt. The cross currency swap also reflects a realized gain of $1.4 million recorded in interest expense.

(b) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and post-retirement cost. See Note 12 for additional details for the six months ended June 30, 2018 and 2017.

Comprehensive income (loss), net of tax consisted of the following as of June 30:



	Three Months Ended					Six Months Ended
	2018			2017		2018			2017
Net earnings	$	111,468		$	101,580	$	204,772		$	194,046
Other comprehensive income (loss), net of tax	(29,205		)	32,734		(315		)	56,612
Comprehensive income, net of tax	$	82,263		$	134,314	$	204,457		$	250,658