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OTHER COMPREHENSIVE INCOME
12 Months Ended
Dec. 31, 2018
OTHER COMPREHENSIVE INCOME [Abstract]  
OTHER COMPREHENSIVE INCOME

NOTE 14: 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 Consolidated Statements of Comprehensive Income and Consolidated Statements of Equity, net of applicable taxes.

Amounts in accumulated other comprehensive income (AOCI), net of tax, at December 31, are as follows:





 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

in thousands

2018

 

 

2017

 

 

2016

 

AOCI

 

 

 

 

 

 

 

 

Interest rate hedges

$       (11,180)

 

 

$     (11,438)

 

 

$     (13,300)

 

Pension and postretirement plans

(161,035)

 

 

(138,028)

 

 

(126,076)

 

Total

$     (172,215)

 

 

$   (149,466)

 

 

$   (139,376)

 



Changes in AOCI, net of tax, for the three years ended December 31, 2018 are as follows:



 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 



 

 

 

Pension and

 

 

 

 



Interest Rate

 

 

Postretirement

 

 

 

 

in thousands

Hedges

 

 

Benefit Plans

 

 

Total

 

AOCI

 

 

 

 

 

 

 

 

Balances at December 31, 2015

$       (14,494)

 

 

$   (105,575)

 

 

$   (120,069)

 

Other comprehensive income (loss)

 

 

 

 

 

 

 

 

  before reclassifications

 

 

(20,583)

 

 

(20,583)

 

Amounts reclassified from AOCI

1,194 

 

 

82 

 

 

1,276 

 

Net OCI changes

1,194 

 

 

(20,501)

 

 

(19,307)

 

Balances at December 31, 2016

$       (13,300)

 

 

$   (126,076)

 

 

$   (139,376)

 

Other comprehensive income (loss)

 

 

 

 

 

 

 

 

  before reclassifications

 

 

(14,106)

 

 

(14,106)

 

Amounts reclassified from AOCI

1,862 

 

 

2,154 

 

 

4,016 

 

Net OCI changes

1,862 

 

 

(11,952)

 

 

(10,090)

 

Balances at December 31, 2017

$       (11,438)

 

 

$   (138,028)

 

 

$   (149,466)

 

Released stranded tax effects ASU 2018-02 (Note 9)

(2,464)

 

 

(27,165)

 

 

(29,629)

 

Balances at January 1, 2018, due to reclassification

$       (13,902)

 

 

$   (165,193)

 

 

$   (179,095)

 

Other comprehensive income (loss)

 

 

 

 

 

 

 

 

  before reclassifications

2,496 

 

 

(207)

 

 

2,289 

 

Amounts reclassified from AOCI

226 

 

 

4,365 

 

 

4,591 

 

Net OCI changes

2,722 

 

 

4,158 

 

 

6,880 

 

Balances at December 31, 2018

$       (11,180)

 

 

$   (161,035)

 

 

$   (172,215)

 



Amounts reclassified from AOCI to earnings, are as follows:





 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

in thousands

2018

 

 

2017

 

 

2016

 

Amortization of Interest Rate Hedge Losses

 

 

 

 

 

 

 

 

Interest expense

$            306 

 

 

$        3,070 

 

 

$        2,008 

 

Benefit from income taxes

(80)

 

 

(1,208)

 

 

(814)

 

Total

$            226 

 

 

$        1,862 

 

 

$        1,194 

 

Amortization of Pension and Postretirement Plan

 

 

 

 

 

 

 

 

  Actuarial Loss and Prior Service Cost

 

 

 

 

 

 

 

 

Other nonoperating income

$         5,906 

 

 

$        2,915 

 

 

$           134 

 

Benefit from income taxes

(1,541)

 

 

(761)

 

 

(52)

 

Total

$         4,365 

 

 

$        2,154 

 

 

$             82 

 

Total reclassifications from AOCI to earnings

$         4,591 

 

 

$        4,016 

 

 

$        1,276