XML 51 R39.htm IDEA: XBRL DOCUMENT v2.4.1.9
EQUITY (Details) (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Dec. 31, 2014
Dec. 31, 2013
Changes in equity        
Balance at the beginning of the period $ 1,285,781us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $ 1,530,688us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest    
Comprehensive income:        
Net income including non-controlling interests 68,318us-gaap_ProfitLoss 56,424us-gaap_ProfitLoss    
Other comprehensive income (loss) (51,914)us-gaap_OtherComprehensiveIncomeLossNetOfTax (10,235)us-gaap_OtherComprehensiveIncomeLossNetOfTax    
Total comprehensive income (loss) 16,404us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest 46,189us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest    
Cash dividends declared - $0.29 per share and $0.23 per share for the three months ended March 31, 2015 and 2014, respectively (21,920)us-gaap_DividendsCommonStockCash (18,501)us-gaap_DividendsCommonStockCash    
Cash dividends declared per share (in dollars per share) $ 0.29us-gaap_CommonStockDividendsPerShareDeclared $ 0.23us-gaap_CommonStockDividendsPerShareDeclared    
Issuance of shares under benefit plans 4,225us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation 7,024us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation    
Purchase of shares for treasury (102,853)us-gaap_TreasuryStockValueAcquiredCostMethod (51,021)us-gaap_TreasuryStockValueAcquiredCostMethod    
Transactions with Noncontrolling Interests (1,682)leco_EquityIncreaseDecreasefromTransactionswithNoncontrollingInterestHolders (2,266)leco_EquityIncreaseDecreasefromTransactionswithNoncontrollingInterestHolders    
Balance at the end of the period 1,179,955us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest 1,512,113us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest    
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]        
Accumulated Other Comprehensive Income (Loss), Net of Tax (339,995)us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax (162,857)us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax (288,622)us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax (151,941)us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax (54,689)us-gaap_OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax (13,749)us-gaap_OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax    
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax 3,316us-gaap_ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax 2,833us-gaap_ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax    
Net Current-Period Other Comprehensive Income (Loss), Net of Tax (51,373)us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent (10,916)us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent    
Net sales 657,900us-gaap_SalesRevenueGoodsNet 685,062us-gaap_SalesRevenueGoodsNet    
Cost of goods sold 437,510us-gaap_CostOfGoodsSold 458,726us-gaap_CostOfGoodsSold    
Income Tax Expense (Benefit) 24,389us-gaap_IncomeTaxExpenseBenefit 26,002us-gaap_IncomeTaxExpenseBenefit    
Shareholders' Equity        
Changes in equity        
Balance at the beginning of the period 1,282,549us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_ParentMember
1,526,602us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_ParentMember
   
Comprehensive income:        
Net income including non-controlling interests 68,354us-gaap_ProfitLoss
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_ParentMember
56,453us-gaap_ProfitLoss
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_ParentMember
   
Other comprehensive income (loss) (51,373)us-gaap_OtherComprehensiveIncomeLossNetOfTax
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_ParentMember
(10,916)us-gaap_OtherComprehensiveIncomeLossNetOfTax
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_ParentMember
   
Total comprehensive income (loss) 16,981us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_ParentMember
45,537us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
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= us-gaap_ParentMember
   
Cash dividends declared - $0.29 per share and $0.23 per share for the three months ended March 31, 2015 and 2014, respectively (21,920)us-gaap_DividendsCommonStockCash
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_ParentMember
(18,501)us-gaap_DividendsCommonStockCash
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= us-gaap_ParentMember
   
Issuance of shares under benefit plans 4,225us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation
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= us-gaap_ParentMember
7,024us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_ParentMember
   
Purchase of shares for treasury (102,853)us-gaap_TreasuryStockValueAcquiredCostMethod
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_ParentMember
(51,021)us-gaap_TreasuryStockValueAcquiredCostMethod
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= us-gaap_ParentMember
   
Transactions with Noncontrolling Interests 0leco_EquityIncreaseDecreasefromTransactionswithNoncontrollingInterestHolders
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= us-gaap_ParentMember
(1,484)leco_EquityIncreaseDecreasefromTransactionswithNoncontrollingInterestHolders
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_ParentMember
   
Balance at the end of the period 1,178,982us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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= us-gaap_ParentMember
1,508,157us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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= us-gaap_ParentMember
   
Noncontrolling Interests        
Changes in equity        
Balance at the beginning of the period 3,232us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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= us-gaap_NoncontrollingInterestMember
4,086us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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= us-gaap_NoncontrollingInterestMember
   
Comprehensive income:        
Net income including non-controlling interests (36)us-gaap_ProfitLoss
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= us-gaap_NoncontrollingInterestMember
(29)us-gaap_ProfitLoss
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= us-gaap_NoncontrollingInterestMember
   
Other comprehensive income (loss) (541)us-gaap_OtherComprehensiveIncomeLossNetOfTax
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= us-gaap_NoncontrollingInterestMember
681us-gaap_OtherComprehensiveIncomeLossNetOfTax
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= us-gaap_NoncontrollingInterestMember
   
Total comprehensive income (loss) (577)us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
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= us-gaap_NoncontrollingInterestMember
652us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
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= us-gaap_NoncontrollingInterestMember
   
Cash dividends declared - $0.29 per share and $0.23 per share for the three months ended March 31, 2015 and 2014, respectively 0us-gaap_DividendsCommonStockCash
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= us-gaap_NoncontrollingInterestMember
0us-gaap_DividendsCommonStockCash
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= us-gaap_NoncontrollingInterestMember
   
Issuance of shares under benefit plans 0us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation
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= us-gaap_NoncontrollingInterestMember
0us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation
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= us-gaap_NoncontrollingInterestMember
   
Purchase of shares for treasury 0us-gaap_TreasuryStockValueAcquiredCostMethod
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= us-gaap_NoncontrollingInterestMember
0us-gaap_TreasuryStockValueAcquiredCostMethod
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= us-gaap_NoncontrollingInterestMember
   
Transactions with Noncontrolling Interests (1,682)leco_EquityIncreaseDecreasefromTransactionswithNoncontrollingInterestHolders
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= us-gaap_NoncontrollingInterestMember
(782)leco_EquityIncreaseDecreasefromTransactionswithNoncontrollingInterestHolders
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= us-gaap_NoncontrollingInterestMember
   
Balance at the end of the period 973us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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= us-gaap_NoncontrollingInterestMember
3,956us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_NoncontrollingInterestMember
   
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member]        
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]        
Accumulated Other Comprehensive Income (Loss), Net of Tax 1,091us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax
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= us-gaap_AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember
(52)us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax
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= us-gaap_AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember
(9)us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax
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= us-gaap_AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember
369us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax
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= us-gaap_AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax 1,322us-gaap_OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember
(710)us-gaap_OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
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= us-gaap_AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember
   
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax (222)us-gaap_ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
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[1] 289us-gaap_ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
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[1]    
Net Current-Period Other Comprehensive Income (Loss), Net of Tax 1,100us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember
(421)us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember
   
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | Reclassification out of Accumulated Other Comprehensive Income | Sales        
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]        
Net sales (529)us-gaap_SalesRevenueGoodsNet
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= us-gaap_SalesMember
/ us-gaap_ReclassificationOutOfAccumulatedOtherComprehensiveIncomeAxis
= us-gaap_ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember
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132us-gaap_SalesRevenueGoodsNet
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= us-gaap_SalesMember
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= us-gaap_ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember
   
Income Tax Expense (Benefit) (249)us-gaap_IncomeTaxExpenseBenefit
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= us-gaap_SalesMember
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20us-gaap_IncomeTaxExpenseBenefit
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/ us-gaap_ReclassificationOutOfAccumulatedOtherComprehensiveIncomeAxis
= us-gaap_ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember
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= us-gaap_AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember
   
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | Reclassification out of Accumulated Other Comprehensive Income | Cost of goods sold        
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]        
Cost of goods sold 307us-gaap_CostOfGoodsSold
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= us-gaap_CostOfSalesMember
/ us-gaap_ReclassificationOutOfAccumulatedOtherComprehensiveIncomeAxis
= us-gaap_ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember
157us-gaap_CostOfGoodsSold
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= us-gaap_CostOfSalesMember
/ us-gaap_ReclassificationOutOfAccumulatedOtherComprehensiveIncomeAxis
= us-gaap_ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember
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= us-gaap_AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember
   
Income Tax Expense (Benefit) 202us-gaap_IncomeTaxExpenseBenefit
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= us-gaap_CostOfSalesMember
/ us-gaap_ReclassificationOutOfAccumulatedOtherComprehensiveIncomeAxis
= us-gaap_ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember
86us-gaap_IncomeTaxExpenseBenefit
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= us-gaap_ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember
   
Accumulated Defined Benefit Plans Adjustment [Member]        
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]        
Accumulated Other Comprehensive Income (Loss), Net of Tax (194,355)us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AccumulatedDefinedBenefitPlansAdjustmentMember
(158,149)us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax
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= us-gaap_AccumulatedDefinedBenefitPlansAdjustmentMember
(197,893)us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax
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= us-gaap_AccumulatedDefinedBenefitPlansAdjustmentMember
(160,693)us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax
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Other Comprehensive Income (Loss), before Reclassifications, Net of Tax 0us-gaap_OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
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0us-gaap_OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
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Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax 3,538us-gaap_ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
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= us-gaap_AccumulatedDefinedBenefitPlansAdjustmentMember
[2] 2,544us-gaap_ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
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= us-gaap_AccumulatedDefinedBenefitPlansAdjustmentMember
[2]    
Net Current-Period Other Comprehensive Income (Loss), Net of Tax 3,538us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AccumulatedDefinedBenefitPlansAdjustmentMember
2,544us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AccumulatedDefinedBenefitPlansAdjustmentMember
   
Accumulated Defined Benefit Plans Adjustment [Member] | Reclassification out of Accumulated Other Comprehensive Income        
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]        
Income Tax Expense (Benefit) 2,395us-gaap_IncomeTaxExpenseBenefit
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1,838us-gaap_IncomeTaxExpenseBenefit
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Accumulated Translation Adjustment [Member]        
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]        
Accumulated Other Comprehensive Income (Loss), Net of Tax (146,731)us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax
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(4,656)us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax
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(90,720)us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax
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8,383us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax
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Other Comprehensive Income (Loss), before Reclassifications, Net of Tax (56,011)us-gaap_OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
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[3] (13,039)us-gaap_OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
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= us-gaap_AccumulatedTranslationAdjustmentMember
[3]    
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax 0us-gaap_ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
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= us-gaap_AccumulatedTranslationAdjustmentMember
0us-gaap_ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
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= us-gaap_AccumulatedTranslationAdjustmentMember
   
Net Current-Period Other Comprehensive Income (Loss), Net of Tax (56,011)us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
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= us-gaap_AccumulatedTranslationAdjustmentMember
(13,039)us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
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= us-gaap_AccumulatedTranslationAdjustmentMember
   
Accumulated Translation Adjustment [Member] | Reclassification out of Accumulated Other Comprehensive Income        
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]        
Other Comprehensive (Income) Loss, Net of Tax, Portion Attributable to Noncontrolling Interest $ (541)us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToNoncontrollingInterest
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$ 681us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToNoncontrollingInterest
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[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.