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OTHER COMPREHENSIVE INCOME
9 Months Ended
Sep. 30, 2018
OTHER COMPREHENSIVE INCOME [Abstract]  
OTHER COMPREHENSIVE INCOME

Note 11: other Comprehensive Income



Comprehensive income comprises two subsets: net earnings and other comprehensive income (OCI). The components of other comprehensive income are presented in the accompanying Condensed Consolidated Statements of Comprehensive Income, net of applicable taxes.



Amounts in accumulated other comprehensive income (AOCI), net of tax, are as follows:







 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 



 

 

September 30

 

 

December 31

 

 

September 30

 

in thousands

2018 

 

 

2017 

 

 

2017 

 

AOCI

 

 

 

 

 

 

 

 

Interest rate hedges

$        (8,771)

 

 

$      (11,438)

 

 

$      (11,464)

 

Pension and postretirement plans

(134,754)

 

 

(138,028)

 

 

(124,795)

 

Total

$    (143,525)

 

 

$    (149,466)

 

 

$    (136,259)

 



Changes in AOCI, net of tax, for the nine months ended September 30, 2018 are as follows:







 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

Pension and 

 

 

 

 



Interest Rate

 

 

Postretirement

 

 

 

 

in thousands

Hedges

 

 

Benefit Plans

 

 

Total

 

AOCI

 

 

 

 

 

 

 

 

Balance as of December 31, 2017

$       (11,438)

 

 

$     (138,028)

 

 

$     (149,466)

 

Other comprehensive income

 

 

 

 

 

 

 

 

  before reclassifications

2,496 

 

 

 

 

2,496 

 

Amounts reclassified from AOCI

171 

 

 

3,274 

 

 

3,445 

 

Net current period OCI changes

2,667 

 

 

3,274 

 

 

5,941 

 

Balance as of September 30, 2018

$         (8,771)

 

 

$     (134,754)

 

 

$     (143,525)

 



Amounts reclassified from AOCI to earnings, are as follows:





 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

Three Months Ended

 

 

Nine Months Ended

 



 

 

September 30

 

 

September 30

 

in thousands

2018 

 

 

2017 

 

 

2018 

 

 

2017 

 

Amortization of Interest Rate Hedge Losses

 

 

 

 

 

 

 

 

 

 

 

Interest expense

$              72 

 

 

$         1,955 

 

 

$            232 

 

 

$         3,022 

 

Benefit from income taxes

(19)

 

 

(767)

 

 

(61)

 

 

(1,186)

 

Total 1

$              53 

 

 

$         1,188 

 

 

$            171 

 

 

$         1,836 

 

Amortization of Pension and Postretirement

 

 

 

 

 

 

 

 

 

 

 

  Plan Actuarial Loss and Prior Service Cost

 

 

 

 

 

 

 

 

 

 

 

Other nonoperating income

$         1,477 

 

 

$            703 

 

 

$         4,430 

 

 

$         2,109 

 

Benefit from income taxes

(386)

 

 

(276)

 

 

(1,156)

 

 

(828)

 

Total

$         1,091 

 

 

$            427 

 

 

$         3,274 

 

 

$         1,281 

 

Total reclassifications from AOCI to earnings

$         1,144 

 

 

$         1,615 

 

 

$         3,445 

 

 

$         3,117 

 





 

Totals for 2017 include the acceleration of deferred losses on interest rate hedges (see Note 6) referable to debt purchases (see Note 7).