Other Comprehensive Income (Loss) (Tables)

9 Months Ended

Sep. 30, 2014

Equity [Abstract]

Comprehensive Income

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 Sept. 30,						Nine Months Ended Sept. 30,
	2014			2013			2014			2013
	(in thousands)						(in thousands)
Net income	$	190,516		$	173,746		$	545,727		$	534,492
Other comprehensive (loss) income:
Foreign currency translation		(94,957	)		5,369			(56,318	)		(116,900	)
Pension and other post-retirement benefit adjustments:
Recognition of prior service credit, net of tax		(490	)		(1,314	)		(1,470	)		(3,956	)
Recognition of actuarial loss, net of tax		4,424			12,726			13,005			38,906
Net actuarial (loss) gain, net of tax		(4,416	)		1,790			(4,416	)		1,790
Total other comprehensive (loss) income		(95,439	)		18,571			(49,199	)		(80,160	)
Comprehensive income	$	95,077		$	192,317		$	496,528		$	454,332

Changes in Accumulated Other Comprehensive (Loss) Income by Component

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

	2014
	Changes in Accumulated Other Comprehensive (Loss) Income by Component
	Pension and Other Post- Retirement Benefits			Foreign Currency Translation			Total
	(in thousands)
Beginning balance, January 1	$	(360,036	)	$	(37,619	)	$	(397,655	)
Other comprehensive income (loss) before reclassifications, net of tax		(4,416	)		(56,318	)		(60,734	)
Amounts reclassified from accumulated other comprehensive (loss) income, net of tax		11,535			—			11,535
Net current period other comprehensive income (loss)		7,119			(56,318	)		(49,199	)
Ending balance, September 30	$	(352,917	)	$	(93,937	)	$	(446,854	)

	2013
	Changes in Accumulated Other Comprehensive (Loss) Income by Component
	Pension and Other Post- Retirement Benefits			Foreign Currency Translation			Total
	(in thousands)
Beginning balance, January 1	$	(632,576	)	$	131,084		$	(501,492	)
Other comprehensive income (loss) before reclassifications, net of tax		1,790			(116,900	)		(115,110	)
Amounts reclassified from accumulated other comprehensive (loss) income, net of tax		34,950			—			34,950
Net current period other comprehensive income (loss)		36,740			(116,900	)		(80,160	)
Ending balance, September 30	$	(595,836	)	$	14,184		$	(581,652	)