| Accumulated Other Comprehensive Income |
|
10. |
ACCUMULATED OTHER COMPREHENSIVE INCOME |
The following table sets forth details of the changes in accumulated other comprehensive income (losses) for the three months and six months ended June 30, 2021 and 2020.
|
In thousands |
Currency translation adjustments |
|
|
Unrealized gain (loss) on cash flow hedges |
|
|
Change in pensions |
|
|
Change in other postretirement defined benefit plans |
|
|
Total |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance at April 1, 2021 |
$ |
(55,718 |
) |
|
$ |
765 |
|
|
$ |
(12,706 |
) |
|
$ |
(834 |
) |
|
$ |
(68,493 |
) |
|
|
Other comprehensive income (loss) before reclassifications (net of tax) |
|
3,846 |
|
|
|
(341 |
) |
|
|
— |
|
|
|
— |
|
|
|
3,505 |
|
|
|
Amounts reclassified from accumulated
other comprehensive income (net of tax) |
|
— |
|
|
|
25 |
|
|
|
197 |
|
|
|
(47 |
) |
|
|
175 |
|
|
|
Net current period other comprehensive income (loss) |
|
3,846 |
|
|
|
(316 |
) |
|
|
197 |
|
|
|
(47 |
) |
|
|
3,680 |
|
|
|
Balance at June 30, 2021 |
$ |
(51,872 |
) |
|
$ |
449 |
|
|
$ |
(12,509 |
) |
|
$ |
(881 |
) |
|
$ |
(64,813 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance at April 1, 2020 |
$ |
(90,249 |
) |
|
$ |
2,999 |
|
|
$ |
(7,105 |
) |
|
$ |
1,138 |
|
|
$ |
(93,217 |
) |
|
|
Other comprehensive income before reclassifications (net of tax) |
|
5,891 |
|
|
|
516 |
|
|
|
— |
|
|
|
— |
|
|
|
6,407 |
|
|
|
Amounts reclassified from accumulated
other comprehensive income (net of tax) |
|
— |
|
|
|
(1,068 |
) |
|
|
149 |
|
|
|
(248 |
) |
|
|
(1,167 |
) |
|
|
Net current period other comprehensive income (loss) |
|
5,891 |
|
|
|
(552 |
) |
|
|
149 |
|
|
|
(248 |
) |
|
|
5,240 |
|
|
|
Balance at June 30, 2020 |
$ |
(84,358 |
) |
|
$ |
2,447 |
|
|
$ |
(6,956 |
) |
|
$ |
890 |
|
|
$ |
(87,977 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance at January 1, 2021 |
$ |
(42,525 |
) |
|
$ |
(2,496 |
) |
|
$ |
(12,844 |
) |
|
$ |
(788 |
) |
|
$ |
(58,653 |
) |
|
|
Other comprehensive income (loss) before reclassifications (net of tax) |
|
(9,347 |
) |
|
|
2,933 |
|
|
|
— |
|
|
|
— |
|
|
|
(6,414 |
) |
|
|
Amounts reclassified from accumulated
other comprehensive income (net of tax) |
|
— |
|
|
|
12 |
|
|
|
335 |
|
|
|
(93 |
) |
|
|
254 |
|
|
|
Net current period other comprehensive income (loss) |
|
(9,347 |
) |
|
|
2,945 |
|
|
|
335 |
|
|
|
(93 |
) |
|
|
(6,160 |
) |
|
|
Balance at June 30, 2021 |
$ |
(51,872 |
) |
|
$ |
449 |
|
|
$ |
(12,509 |
) |
|
$ |
(881 |
) |
|
$ |
(64,813 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance at January 1, 2020 |
$ |
(76,346 |
) |
|
$ |
4,316 |
|
|
$ |
(7,253 |
) |
|
$ |
1,387 |
|
|
$ |
(77,896 |
) |
|
|
Other comprehensive income (loss) before reclassifications (net of tax) |
|
(8,012 |
) |
|
|
799 |
|
|
|
— |
|
|
|
— |
|
|
|
(7,213 |
) |
|
|
Amounts reclassified from accumulated
other comprehensive income (net of tax) |
|
— |
|
|
|
(2,668 |
) |
|
|
297 |
|
|
|
(497 |
) |
|
|
(2,868 |
) |
|
|
Net current period other comprehensive income (loss) |
|
(8,012 |
) |
|
|
(1,869 |
) |
|
|
297 |
|
|
|
(497 |
) |
|
|
(10,081 |
) |
|
|
Balance at June 30, 2020 |
$ |
(84,358 |
) |
|
$ |
2,447 |
|
|
$ |
(6,956 |
) |
|
$ |
890 |
|
|
$ |
(87,977 |
) |
|
Reclassifications out of accumulated other comprehensive income and into the condensed consolidated statements of income were as follows:
|
|
|
Three months ended June 30 |
|
|
Six months ended
June 30 |
|
|
|
|
In thousands |
|
2021 |
|
|
2020 |
|
|
2021 |
|
|
2020 |
|
|
|
|
Description |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Line Item in Statements of Income |
|
Cash flow hedges (Note 20) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Gains) losses on cash flow hedges |
|
$ |
33 |
|
|
$ |
(1,488 |
) |
|
$ |
57 |
|
|
$ |
(3,670 |
) |
|
Costs of products sold |
|
Tax expense (benefit) |
|
|
(22 |
) |
|
|
420 |
|
|
|
(73 |
) |
|
|
1,002 |
|
|
Income tax provision |
|
Net of tax |
|
|
11 |
|
|
|
(1,068 |
) |
|
|
(16 |
) |
|
|
(2,668 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss on interest rate swaps |
|
|
22 |
|
|
|
— |
|
|
|
43 |
|
|
|
— |
|
|
Interest expense |
|
Tax benefit |
|
|
(8 |
) |
|
|
— |
|
|
|
(15 |
) |
|
|
— |
|
|
Income tax provision |
|
Net of tax |
|
|
14 |
|
|
|
— |
|
|
|
28 |
|
|
|
— |
|
|
|
|
Total cash flow hedges |
|
|
25 |
|
|
|
(1,068 |
) |
|
|
12 |
|
|
|
(2,668 |
) |
|
|
|
Retirement plan obligations (Note 12) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amortization of deferred benefit pension plans |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Prior service costs |
|
|
12 |
|
|
|
11 |
|
|
|
24 |
|
|
|
23 |
|
|
Other, net |
|
Actuarial losses |
|
|
199 |
|
|
|
161 |
|
|
|
398 |
|
|
|
321 |
|
|
Other, net |
|
|
|
|
211 |
|
|
|
172 |
|
|
|
422 |
|
|
|
344 |
|
|
|
|
Tax benefit |
|
|
(14 |
) |
|
|
(23 |
) |
|
|
(87 |
) |
|
|
(47 |
) |
|
Income tax provision |
|
Net of tax |
|
|
197 |
|
|
|
149 |
|
|
|
335 |
|
|
|
297 |
|
|
|
|
Amortization of deferred benefit other plans |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Prior service costs |
|
|
(59 |
) |
|
|
(116 |
) |
|
|
(117 |
) |
|
|
(232 |
) |
|
Other, net |
|
Actuarial gains |
|
|
12 |
|
|
|
(208 |
) |
|
|
24 |
|
|
|
(417 |
) |
|
Other, net |
|
|
|
|
(47 |
) |
|
|
(324 |
) |
|
|
(93 |
) |
|
|
(649 |
) |
|
|
|
Tax expense |
|
|
— |
|
|
76 |
|
|
|
— |
|
|
152 |
|
|
Income tax provision |
|
Net of tax |
|
|
(47 |
) |
|
|
(248 |
) |
|
|
(93 |
) |
|
|
(497 |
) |
|
|
|
Total reclassifications, net of tax |
|
$ |
175 |
|
|
$ |
(1,167 |
) |
|
$ |
254 |
|
|
$ |
(2,868 |
) |
|
|
|