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EQUITY
 3 Months Ended
Mar. 31, 2015
Stockholders' Equity Note [Abstract]  
EQUITY
EQUITY
Changes in equity for the three months ended March 31, 2015 are as follows:
 
Shareholders’
Equity
 
Non-controlling
Interests
 
Total Equity
Balance, December 31, 2014
$
1,282,549

 
$
3,232

 
$
1,285,781

Comprehensive income (loss):
 

 
 

 
 

Net income (loss)
68,354

 
(36
)
 
68,318

Other comprehensive income (loss)
(51,373
)
 
(541
)
 
(51,914
)
Total comprehensive income (loss)
16,981

 
(577
)
 
16,404

 
 
 
 
 
 
Cash dividends declared - $0.29 per share
(21,920
)
 
—

 
(21,920
)
Issuance of shares under benefit plans
4,225

 
—

 
4,225

Purchase of shares for treasury
(102,853
)
 
—

 
(102,853
)
Transactions with non-controlling interests
—

 
(1,682
)
 
(1,682
)
Balance, March 31, 2015
$
1,178,982

 
$
973

 
$
1,179,955

Changes in equity for the three months ended March 31, 2014 are as follows:
 
Shareholders’
Equity
 
Non-controlling
Interests
 
Total Equity
Balance, December 31, 2013
$
1,526,602

 
$
4,086

 
$
1,530,688

Comprehensive income (loss):
 

 
 

 
 

Net income (loss)
56,453

 
(29
)
 
56,424

Other comprehensive income (loss)
(10,916
)
 
681

 
(10,235
)
Total comprehensive income
45,537

 
652

 
46,189

 
 
 
 
 
 
Cash dividends declared - $0.23 per share
(18,501
)
 
—

 
(18,501
)
Issuance of shares under benefit plans
7,024

 
—

 
7,024

Purchase of shares for treasury
(51,021
)
 
—

 
(51,021
)
Transactions with non-controlling interests
(1,484
)
 
(782
)
 
(2,266
)
Balance, March 31, 2014
$
1,508,157

 
$
3,956

 
$
1,512,113

The following tables set forth the total changes in AOCI by component, net of taxes for the three months ended March 31, 2015 and 2014:
 
 
Three Months Ended March 31, 2015
 
 
Unrealized gain (loss) on derivatives designated and qualifying as cash flow hedges
 
Defined benefit pension plan activity
 
Currency translation adjustment
 
Total
Balance at December 31, 2014
 
$
(9
)
 
$
(197,893
)
 
$
(90,720
)
 
$
(288,622
)
Other comprehensive income (loss)
before reclassification
 
1,322

 
—

 
(56,011
)
3 

(54,689
)
Amounts reclassified from AOCI
 
(222
)
1 

3,538

2 

—


3,316

Net current-period other
comprehensive income (loss)
 
1,100

 
3,538

 
(56,011
)
 
(51,373
)
Balance at March 31, 2015
 
$
1,091

 
$
(194,355
)
 
$
(146,731
)
 
$
(339,995
)
 
 
 
 
 
 
 
 
 
 
 
Three months ended March 31, 2014
 
 
Unrealized gain (loss) on derivatives designated and qualifying as cash flow hedges
 
Defined benefit pension plan activity
 
Currency translation adjustment
 
Total
Balance at December 31, 2013
 
$
369

 
$
(160,693
)
 
$
8,383

 
$
(151,941
)
Other comprehensive income (loss)
before reclassification
 
(710
)
 
—

 
(13,039
)
3 

(13,749
)
Amounts reclassified from AOCI
 
289

1 

2,544

2 

—

 
2,833

Net current-period other
comprehensive income (loss)
 
(421
)
 
2,544

 
(13,039
)
 
(10,916
)
Balance at March 31, 2014
 
$
(52
)
 
$
(158,149
)
 
$
(4,656
)
 
$
(162,857
)
 
 
 
 
 
 
 
 
 
1
During the 2015 period, this AOCI reclassification is a component of Net sales of $(529) (net of tax of $(249)) and Cost of goods sold of $307 (net of tax of $202); during the 2014 period, the reclassification is a component of Net sales of $132 (net of tax of $20) and Cost of goods sold of $157 (net of tax of $86). (See Note 15 - Derivatives for additional details.)
2
This AOCI component is included in the computation of net periodic pension costs (net of tax of $2,395 and $1,838 during the three months ended March 31, 2015 and 2014, respectively). (See Note 13 - Retirement and Postretirement Benefit Plans for additional details.)
3
The Other comprehensive income before reclassifications excludes $(541) and $681 attributable to Non-controlling interests in the three months ended March 31, 2015 and 2014, respectively.