Components of accumulated other comprehensive loss |
The components of AOCI, net of the effect of income taxes, and activity for the years ended December 31, 2020 and 2019 are as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Components of AOCI - Net of Tax | (In thousands) | | Cumulative Foreign Exchange Translation Adjustments | | Effective Portion of Derivatives Designated as Hedging Instruments | | Cumulative Unrecognized Actuarial Losses on Pension Obligations | | Unrealized Loss on Marketable Securities | | Total | Balance at December 31, 2018 | | $ | (159,810) | | | $ | 1,389 | | | $ | (408,655) | | | $ | (31) | | | $ | (567,107) | | Adoption of new accounting standard | | — | | | — | | | (21,429) | | | — | | | (21,429) | | Balance at January 1, 2018 | | (159,810) | | | 1,389 | | | (430,084) | | | (31) | | | (588,536) | | OCI before reclassifications | | 17,261 | | (a) | (7,050) | | (b) | (32,274) | | (c) | 28 | | | (22,035) | | Amounts reclassified from AOCI, net of tax | | (1,763) | | | 1,944 | | | 21,796 | | | — | | | 21,977 | | Total OCI | | 15,498 | | | (5,106) | | | (10,478) | | | 28 | | | (58) | | Less: OCI attributable to noncontrolling interests | | 972 | | | — | | | — | | | — | | | 972 | | OCI attributable to Harsco Corporation | | 16,470 | | | (5,106) | | | (10,478) | | | 28 | | | 914 | | Balance at December 31, 2019 | | $ | (143,340) | | | $ | (3,717) | | | $ | (440,562) | | | $ | (3) | | | $ | (587,622) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Components of AOCI - Net of Tax | (In thousands) | | Cumulative Foreign Exchange Translation Adjustments | | Effective Portion of Derivatives Designated as Hedging Instruments | | Cumulative Unrecognized Actuarial Losses on Pension Obligations | | Unrealized Loss on Marketable Securities | | Total | Balance at December 31, 2019 | | $ | (143,340) | | | $ | (3,717) | | | $ | (440,562) | | | $ | (3) | | | $ | (587,622) | | | | | | | | | | | | | | | | | | | | | | | | OCI before reclassifications | | 7,854 | | (a) | (3,709) | | (b) | (96,684) | | (c) | (6) | | | (92,545) | | Amounts reclassified from AOCI, net of tax | | 12,906 | | | 1,586 | | | 22,746 | | | — | | | 37,238 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Total OCI | | 20,760 | | | (2,123) | | | (73,938) | | | (6) | | | (55,307) | | Less: OCI attributable to noncontrolling interests | | (2,812) | | | — | | | — | | | — | | | (2,812) | | OCI attributable to Harsco Corporation | | 17,948 | | | (2,123) | | | (73,938) | | | (6) | | | (58,119) | | Balance at December 31, 2020 | | $ | (125,392) | | | $ | (5,840) | | | $ | (514,500) | | | $ | (9) | | | $ | (645,741) | |
(a) Principally foreign currency fluctuation. (b) Principally net change from periodic revaluations. (c) Principally changes due to annual actuarial remeasurements and foreign currency translation.
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Amounts reclassified out of accumulated other comprehensive loss |
Amounts reclassified from AOCI for 2020 and 2019 are as follows: | | | | | | | | | | | | | | | | | | | | | | | Year Ended December 31 2020 | | Year Ended December 31 2019 | | Affected Caption on the Consolidated Statements of Operations | (In thousands) | | Amortization of defined benefit pension items (d): | | | | | | | Actuarial losses | | $ | 19,623 | | | $ | 19,806 | | | Defined benefit pension income (expense) | | | | | | | | Prior-service costs | | 511 | | | 326 | | | Defined benefit pension income (expense) | Pension asset transfer - discontinued businesses | | 5,363 | | | 3,200 | | | Gain on sale of discontinued businesses | Settlement/curtailment losses | | (92) | | | 19 | | | Defined benefit pension income (expense) | Total before tax | | 25,405 | | | 23,351 | | | | Tax benefit | | (2,659) | | | (1,555) | | | | Total reclassification of defined benefit pension items, net of tax | | $ | 22,746 | | | $ | 21,796 | | | | Recognition of cumulative foreign currency translation adjustments: | Gain on substantial liquidation of subsidiaries (e) | | $ | 12,906 | | | $ | (2,425) | | | Other (income) expenses, net | Loss on substantial liquidation of subsidiaries (e) | | — | | | $ | 662 | | | Gain on sale of discontinued business | Amortization of cash flow hedging instruments: | Foreign currency exchange forward contracts | | $ | (1,026) | | | $ | (550) | | | Product revenues | Foreign currency exchange forward contracts | | — | | | 44 | | | Cost of services and products sold | CCIRs | | 1,015 | | | 1,219 | | | Interest expense | Interest rate swaps | | 2,589 | | | (520) | | | Interest expense | Interest rate swaps | | — | | | 2,741 | | | Income from discontinued businesses | Total before tax | | 2,578 | | | 2,934 | | | | Tax benefit | | (992) | | | (990) | | | | Total reclassification of cash flow hedging instruments | | $ | 1,586 | | | $ | 1,944 | | | | | | | | | | | | | | | | | | | | | | | | | |
(d) These AOCI components are included in the computation of NPPC. See Note 10, Employee Benefit Plans, for additional information. (e) No tax impact.
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