Other Comprehensive Income (Tables)

3 Months Ended

Mar. 31, 2015

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 March 31,
	2015			2014
	(in thousands)
Net income	$	161,010		$	157,484
Other comprehensive (loss) income:
Foreign currency translation		(113,309	)		102
Pension and other post-retirement benefit adjustments:
Recognition of prior service credit, net of tax		(240	)		(487	)
Recognition of actuarial loss, net of tax		6,078			4,278
Total other comprehensive (loss) income		(107,471	)		3,893
Comprehensive income	$	53,539		$	161,377

Changes in Accumulated Other Comprehensive Loss

The following tables present the changes in accumulated other comprehensive loss by component for the three months ended March 31:

	2015
	Changes in Accumulated Other Comprehensive Loss by Component
	Pension and Other Post- Retirement Benefits			Foreign Currency Translation			Total
	(in thousands)
Beginning balance, January 1	$	(533,213	)	$	(186,998	)	$	(720,211	)
Other comprehensive loss before reclassifications, net of tax		—			(113,309	)		(113,309	)
Amounts reclassified from accumulated other comprehensive loss, net of tax		5,838			—			5,838
Net current period other comprehensive income (loss)		5,838			(113,309	)		(107,471	)
Ending balance, March 31	$	(527,375	)	$	(300,307	)	$	(827,682	)

	2014
	Changes in Accumulated Other Comprehensive Loss 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 before reclassifications, net of tax		—			102			102
Amounts reclassified from accumulated other comprehensive loss, net of tax		3,791			—			3,791
Net current period other comprehensive income (loss)		3,791			102			3,893
Ending balance, March 31	$	(356,245	)	$	(37,517	)	$	(393,762	)