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Changes in Cumulative Other Comprehensive Loss by Component (Tables)
3 Months Ended
Mar. 31, 2016
Equity [Abstract]  
Changes in Cumulative Other Comprehensive Loss by Component

The following table presents the changes in Cumulative Other Comprehensive Loss by Component for the three-month periods ended March 31, 2016 and 2015, respectively. All amounts are presented net of tax. Amounts in parentheses indicate debits.

 

     Three Months Ended March 31, 2016  
            Changes              
            in the Fair              
            Value of              
     Cumulative      Derivatives     Unrecognized        
     Currency      and Unrealized     Postretirement        
     Translation      Gains     Benefit        
     Adjustment      (Losses)     Plans     Total  

December 31, 2015

   $ (22,034    $ 3,454      $ (491,187   $ (509,767

Other comprehensive income (loss) before reclassifications

     (2,754      (2,487 ) (a)      2,029  (c)      (3,212

Amount reclassified from accumulated other comprehensive income (loss)

     —           (896 ) (b)      6,938  (d)      6,042   
  

 

 

    

 

 

   

 

 

   

 

 

 

Net current-period other comprehensive income (loss)

     (2,754      (3,383     8,967        2,830   
  

 

 

    

 

 

   

 

 

   

 

 

 

March 31, 2016

   $ (24,788    $ 71      $ (482,220   $ (506,937
  

 

 

    

 

 

   

 

 

   

 

 

 

 

(a) This amount represents $4,044 of unrealized losses on cash flow hedges, net of tax of $1,557 that were recognized in Other Comprehensive Loss (see Footnote 4 for additional details).
(b) This amount represents $1,412 of gains on cash flow hedges, net of tax of $516, that were reclassified out of Cumulative Other Comprehensive Loss and are included in Other non-operating income on the Condensed Consolidated Statements of Income (see Footnote 4 for additional details).
(c) This amount represents the foreign currency translation effect on the Company’s postretirement benefit plans
(d) This amount represents amortization of prior service credit of $141 and amortization of actuarial losses of ($10,932) net of tax of $3,853, that were reclassified out of Cumulative Other Comprehensive Loss and are included in the computation of net periodic benefit cost (see Footnote 6 for additional details).

 

     Three Months Ended March 31, 2015  
            Changes              
            in the Fair              
            Value of              
     Cumulative      Derivatives     Unrecognized        
     Currency      and Unrealized     Postretirement        
     Translation      Gains     Benefit        
     Adjustment      (Losses)     Plans     Total  

December 31, 2014

   $ 9,059       $ 4,762      $ (544,423   $ (530,602

Other comprehensive income (loss) before reclassifications

     (11,758      5,492  (a)      5,227  (c)    $ (1,039

Amount reclassified from accumulated other comprehensive income (loss)

     —           (2,804 ) (b)      7,467  (d)    $ 4,663   
  

 

 

    

 

 

   

 

 

   

 

 

 

Net current-period other comprehensive income (loss)

     (11,758      2,688        12,694        3,624   
  

 

 

    

 

 

   

 

 

   

 

 

 

March 31, 2015

   $ (2,699    $ 7,450      $ (531,729   $ (526,978
  

 

 

    

 

 

   

 

 

   

 

 

 

 

(a) This amount represents $8,746 of unrealized gains on cash flow hedges, net of tax of $3,254 that were recognized in Other Comprehensive Loss (see Footnote 4 for additional details).
(b) This amount represents $4,326 of gains on cash flow hedges, net of tax of $1,522, that were reclassified out of Cumulative Other Comprehensive Loss and are included in Other non-operating income on the Condensed Consolidated Statements of Income (see Footnote 4 for additional details).
(c) This amount represents the foreign currency translation effect on the Company’s postretirement benefit plans
(d) This amount represents amortization of prior service credit of $141 and amortization of actuarial losses of ($11,719) net of tax of $4,111 that were reclassified out of Cumulative Other Comprehensive Loss and are included in the computation of net periodic benefit cost (see Footnote 6 for additional details).