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 | 2019 | | | 2018 | | | 2017 | | AOCI | | | | | | | | | Interest rate hedges | $ (10,953) | | | $ (11,180) | | | $ (11,438) | | Pension and postretirement plans | (186,785) | | | (161,035) | | | (138,028) | | Total | $ (197,738) | | | $ (172,215) | | | $ (149,466) | |
Changes in AOCI, net of tax, for the three years ended December 31, 2019 are as follows: | | | | | | | | | | | | | | | | | | | | | | Pension and | | | | | | Interest Rate | | | Postretirement | | | | | in thousands | Hedges | | | Benefit Plans | | | Total | | AOCI | | | | | | | | | Balances at December 31, 2016 | $ (13,300) | | | $ (126,076) | | | $ (139,376) | | Other comprehensive income (loss) | | | | | | | | | before reclassifications | 0 | | | (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) | | Other comprehensive income (loss) | | | | | | | | | before reclassifications | 0 | | | (26,892) | | | (26,892) | | Amounts reclassified from AOCI | 227 | | | 1,142 | | | 1,369 | | Net OCI changes | 227 | | | (25,750) | | | (25,523) | | Balances at December 31, 2019 | $ (10,953) | | | $ (186,785) | | | $ (197,738) | |
Amounts reclassified from AOCI to earnings, are as follows: | | | | | | | | | | | | | | | | | | in thousands | 2019 | | | 2018 | | | 2017 | | Amortization of Interest Rate Hedge Losses | | | | | | | | | Interest expense | $ 307 | | | $ 306 | | | $ 3,070 | | Benefit from income taxes | (80) | | | (80) | | | (1,208) | | Total | $ 227 | | | $ 226 | | | $ 1,862 | | Amortization of Pension and Postretirement Plan | | | | | | | | | Actuarial Loss and Prior Service Cost | | | | | | | | | Other nonoperating expense | $ 1,545 | | | $ 5,906 | | | $ 2,915 | | Benefit from income taxes | (403) | | | (1,541) | | | (761) | | Total | $ 1,142 | | | $ 4,365 | | | $ 2,154 | | Total reclassifications from AOCI to earnings | $ 1,369 | | | $ 4,591 | | | $ 4,016 | |
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