Other Comprehensive Income (Loss) (Tables)

9 Months Ended

Sep. 30, 2017

Equity [Abstract]

Comprehensive Income (Loss)

The difference between comprehensive income and net income was due to foreign currency translation adjustments and pension and other post-retirement benefit adjustments, as summarized below.

	Three Months Ended September 30,						Nine Months Ended September 30,
	2017			2016			2017			2016
	(in thousands)						(in thousands)
Net income	$	158,442		$	185,326		$	508,574		$	534,720
Other comprehensive income (loss):
Foreign currency translation	38,675			11,896			118,852			50,840
Pension and other post-retirement benefit adjustments:
Recognition of prior service credit, net of tax	(212		)	(222		)	(637		)	(666		)
Recognition of actuarial loss, net of tax	5,992			4,981			17,872			14,934
Total other comprehensive income	44,455			16,655			136,087			65,108
Comprehensive income	$	202,897		$	201,981		$	644,661		$	599,828

Changes in Accumulated Other Comprehensive Income (Loss)

The following tables present the changes in accumulated other comprehensive loss by component for the nine months ended September 30:

	2017
	Changes in Accumulated Other Comprehensive Loss by Component
	Pension and Other Post- Retirement Benefits			Foreign Currency Translation			Total
	(in thousands)
Beginning balance, January 1	$	(609,080	)	$	(403,941	)	$	(1,013,021	)
Other comprehensive income before reclassifications, net of tax	—			118,852			118,852
Amounts reclassified from accumulated other comprehensive loss, net of tax	17,235			—			17,235
Net current period other comprehensive income	17,235			118,852			136,087
Ending balance, September 30	$	(591,845	)	$	(285,089	)	$	(876,934	)

	2016
	Changes in Accumulated Other Comprehensive Loss by Component
	Pension and Other Post- Retirement Benefits			Foreign Currency Translation			Total
	(in thousands)
Beginning balance, January 1	$	(535,634	)	$	(394,984	)	$	(930,618	)
Other comprehensive income before reclassifications, net of tax	—			50,840			50,840
Amounts reclassified from accumulated other comprehensive loss, net of tax	14,268			—			14,268
Net current period other comprehensive income	14,268			50,840			65,108
Ending balance, September 30	$	(521,366	)	$	(344,144	)	$	(865,510	)