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EQUITY (Tables)
 6 Months Ended
Jun. 30, 2018
Stockholders' Equity Note [Abstract]  
Schedule of changes in equity
Changes in equity for the six months ended June 30, 2018 are as follows:
 
Shareholders’
Equity
 
Non-controlling
Interests
 
Total Equity
Balance at December 31, 2017
$
931,637

 
$
816

 
$
932,453

Comprehensive income (loss):
 

 
 

 
 

Net income
129,688

 
(9
)
 
129,679

Other comprehensive income (loss)
(29,293
)
 
(31
)
 
(29,324
)
Total comprehensive income (loss)
100,395

 
(40
)
 
100,355

 
 
 
 
 
 
Cash dividends declared - $0.78 per share
(51,488
)
 
—

 
(51,488
)
Issuance of shares under benefit plans
12,420

 
—

 
12,420

Purchase of shares for treasury (1)
(50,232
)
 
—

 
(50,232
)
Balance at June 30, 2018
$
942,732

 
$
776

 
$
943,508


(1)
The Company's total common shares authorized to be repurchased under the current repurchase program is 55 million shares.  As of June 30, 2018, there remained 7.9 million common shares available for repurchase under this program.  The repurchased common shares remain in treasury and have not been retired.
Components of accumulated other comprehensive (loss) income
The following tables set forth the total changes in accumulated other comprehensive income (loss) ("AOCI") by component, net of taxes, for the three months ended June 30, 2018 and 2017:
 
 
Three Months Ended June 30, 2018
 
 
Unrealized gain (loss) on derivatives designated and qualifying as cash flow hedges
 
Defined benefit pension plan activity
 
Currency translation adjustment
 
Total
Balance at March 31, 2018
 
$
1,730

 
$
(83,990
)
 
$
(143,456
)
 
$
(225,716
)
Other comprehensive income (loss)
before reclassification
 
(1,241
)
 
—

 
(50,252
)
3 

(51,493
)
Amounts reclassified from AOCI
 
9

1 

721

2 

—

 
730

Net current-period other
comprehensive income (loss)
 
(1,232
)
 
721

 
(50,252
)
 
(50,763
)
Balance at June 30, 2018
 
$
498

 
$
(83,269
)
 
$
(193,708
)
 
$
(276,479
)
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended June 30, 2017
 
 
Unrealized gain (loss) on derivatives designated and qualifying as cash flow hedges
 
Defined benefit pension plan activity
 
Currency translation adjustment
 
Total
Balance at March 31, 2017
 
$
2,111

 
$
(95,225
)
 
$
(205,174
)
 
$
(298,288
)
Other comprehensive income (loss)
before reclassification
 
(1,276
)
 
—

 
25,330

3 

24,054

Amounts reclassified from AOCI
 
999

1 

712

2 

—

 
1,711

Net current-period other
comprehensive income (loss)
 
(277
)
 
712

 
25,330

 
25,765

Balance at June 30, 2017
 
$
1,834

 
$
(94,513
)
 
$
(179,844
)
 
$
(272,523
)
(1)
During the 2018 period, this AOCI reclassification is a component of Net sales of $(23) (net of tax of $(14)) and Cost of goods sold of $(14) (net of tax of $(6)); during the 2017 period, the reclassification is a component of Net sales of $797 (net of tax of $291) and Cost of goods sold of $202 (net of tax of $70). See Note 15 to the consolidated financial statements for additional details.
(2)
This AOCI component is included in the computation of net periodic pension costs (net of tax of $218 and $149 during the three months ended June 30, 2018 and 2017, respectively). See Note 12 to the consolidated financial statements for additional details.
(3)
The Other comprehensive income (loss) before reclassifications excludes $(90) and $26 attributable to Non-controlling interests in the three months ended June 30, 2018 and 2017, respectively.
The following tables set forth the total changes in AOCI by component, net of taxes, for the six months ended June 30, 2018 and 2017:
 
 
Six Months Ended June 30, 2018
 
 
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, 2017
 
$
875

 
$
(85,277
)
 
$
(162,784
)
 
$
(247,186
)
Other comprehensive income (loss)
before reclassification
 
(231
)
 
—

 
(30,924
)
3 

(31,155
)
Amounts reclassified from AOCI
 
(146
)
1 

2,008

2 

—

 
1,862

Net current-period other
comprehensive income (loss)
 
(377
)
 
2,008

 
(30,924
)
 
(29,293
)
Balance at June 30, 2018
 
$
498

 
$
(83,269
)
 
$
(193,708
)
 
$
(276,479
)
 
 
 
 
 
 
 
 
 
 
 
Six Months Ended June 30, 2017
 
 
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, 2016
 
$
587

 
$
(95,939
)
 
$
(233,685
)
 
$
(329,037
)
Other comprehensive income (loss)
before reclassification
 
267

 
—

 
53,841

3 

54,108

Amounts reclassified from AOCI
 
980

1 

1,426

2 

—

 
2,406

Net current-period other
comprehensive income (loss)
 
1,247

 
1,426

 
53,841

 
56,514

Balance at June 30, 2017
 
$
1,834

 
$
(94,513
)
 
$
(179,844
)
 
$
(272,523
)

(1)
During the 2018 period, the AOCI reclassification is a component of Net sales of $112 (net of tax of $(6)) and Cost of goods sold of $(34) (net of tax of $(19)); during the 2017 period, the AOCI reclassification is a component of Net sales of $612 (net of tax of $204) and Cost of goods sold of $368 (net of tax of $181). See Note 15 to the consolidated financial statements for additional details.
(2)
The AOCI component is included in the computation of net periodic pension costs (net of tax of $649 and $362 during the six months ended June 30, 2018 and 2017, respectively). See Note 12 to the consolidated financial statements for additional details.
(3)
The Other comprehensive income (loss) before reclassifications excludes $(31) and $48 attributable to Non-controlling interests in the six months ended June 30, 2018 and 2017, respectively.