Accumulated Other Comprehensive Income (Loss)

6 Months Ended

Jun. 30, 2020

Accumulated Other Comprehensive Income (Loss)

ACCUMULATED OTHER COMPREHENSIVE LOSS

The following tables present changes in the accumulated balances for each component of other comprehensive (loss) income, including current period other comprehensive (loss) income and reclassifications out of accumulated other comprehensive loss:


(DOLLARS IN THOUSANDS)	Foreign Currency Translation Adjustments		Gains on Derivatives Qualifying as Hedges		Pension and Postretirement Liability Adjustment		Total
Accumulated other comprehensive (loss) income, net of tax, as of December 31, 2019	$	(373,043)	$	2,068	$	(345,919)	$	(716,894)
OCI before reclassifications	(305,810)		1,237		—		(304,573)
Amounts reclassified from AOCI	—		(2,891)		6,892		4,001
Net current period other comprehensive income (loss)	(305,810)		(1,654)		6,892		(300,572)
Accumulated other comprehensive (loss) income, net of tax, as of June 30, 2020	$	(678,853)	$	414	$	(339,027)	$	(1,017,466)


(DOLLARS IN THOUSANDS)	Foreign Currency Translation Adjustments		Losses on Derivatives Qualifying as Hedges		Pension and Postretirement Liability Adjustment		Total
Accumulated other comprehensive (loss) income, net of tax, as of December 31, 2018	$	(396,996)	$	4,746	$	(309,977)	$	(702,227)
OCI before reclassifications	28,363		4,581		—		32,944
Amounts reclassified from AOCI	—		(4,263)		5,187		924
Net current period other comprehensive income (loss)	28,363		318		5,187		33,868
Accumulated other comprehensive (loss) income, net of tax, as of June 30, 2019	$	(368,633)	$	5,064	$	(304,790)	$	(668,359)

The following table provides details about reclassifications out of Accumulated other comprehensive loss to the Consolidated Statement of Income and Comprehensive Income (Loss):


	Six Months Ended June 30,					Affected Line Item in the Consolidated Statement of Income and Comprehensive Income (Loss)
(DOLLARS IN THOUSANDS)	2020		2019
Gains (losses) on derivatives qualifying as hedges

Foreign currency contracts	$	3,794	$	5,365	Cost of goods sold
Interest rate swaps	(429)		(432)		Interest expense
Tax	(474)		(670)		Provision for income taxes
Total	$	2,891	$	4,263	Total, net of income taxes
Losses on pension and postretirement liability adjustments

Prior service cost	$	(8,696)	$	3,328	(a)
Actuarial losses	(383)		(9,335)		(a)
Tax	2,187		820		Provision for income taxes
Total	$	(6,892)	$	(5,187)	Total, net of income taxes

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(a)The amortization of prior service cost and actuarial loss is included in the computation of net periodic benefit cost. Refer to Note 16 of our 2019 Form 10-K for additional information regarding net periodic benefit cost.