Accumulated Other Comprehensive Loss (Tables)

12 Months Ended

Dec. 31, 2016

Net Change and Ending Balances for Various Components of Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Loss

Net change and ending balances for the various components of other comprehensive income (loss) and for accumulated other comprehensive loss as of and for the year ended December 31, 2014, 2015 and 2016 are summarized below.


	Foreign Currency Translation Adjustments			Unrecognized Components of Employee Benefit Plans			Unrealized Holding Gains on Securities			Derivatives			Accumulated Other Comprehensive Loss
Balance at January 1, 2014	$	277		$	(47,462	)	$	1,007		$	313		$	(45,865	)
Net Change		(4,703	)		(17,934	)		(23	)		(228	)		(22,888	)
Balance at December 31, 2014		(4,426	)		(65,396	)		984			85			(68,753	)
Net Change		(3,967	)		15,453			(292	)		(40	)		11,154
Balance at December 31, 2015		(8,393	)		(49,943	)		692			45			(57,599	)
Net Change		(14,580	)		11,307			(633	)		506			(3,400	)
Balance at December 31, 2016	$	(22,973	)	$	(38,636	)	$	59		$	551		$	(60,999	)

Line Items Affected on Consolidated Statements of Operations for Components Reclassified from Accumulated Other Comprehensive Loss

The following summarizes the line items affected on the consolidated statements of operations for components reclassified from accumulated other comprehensive loss for each of the years ended December 31. Amounts in parentheses represent credits to net income (loss).


	2016			2015			2014
Amortization of unrecognized employee benefit costs:
Costs of products sold (excluding depreciation and amortization)	$	2,463		$	3,604		$	3,601
Selling and administrative		(719	)		3,354			1,524
Other expense		166			355			174
Total before income tax		1,910			7,313			5,299
Income tax provision		0			(2,573	)		(1,841	)
Net of income tax	$	1,910		$	4,740		$	3,458
Realized gains on sale of marketable securities:
Selling and administrative	$	(1,404	)	$	(82	)	$	(171	)
Income tax provision		366			29			60
Net of income tax	$	(1,038	)	$	(53	)	$	(111	)
Realized gains/losses from settlement of cash flow hedges:
Net sales (foreign currency sales contracts)	$	(6	)	$	(17	)	$	33
Depreciation and amortization (foreign currency purchase contracts)		(27	)		(27	)		(27	)
Costs of products sold (excluding depreciation and amortization) (futures contracts – copper and aluminum)		220			751			146
Total before income tax		187			707			152
Income tax provision		(79	)		(272	)		(57	)
Net of income tax	$	108		$	435		$	95

Summary of Income Tax Expense (Benefit) Associated with Various Components of Other Comprehensive Income (Loss)

The income tax expense (benefit) associated with the various components of other comprehensive income (loss) for each of the years ended December 31 is summarized below. For 2016, there was no income tax benefit for certain items due to the Corporation having a valuation allowance recorded against its deferred income tax assets for the jurisdiction where the expense is recognized. See Note 15. Foreign currency translation adjustments exclude the effect of income taxes since earnings of non-U.S. subsidiaries are deemed to be reinvested for an indefinite period of time.


	2016			2015			2014
Income tax expense (benefit) associated with changes in:
Unrecognized employee benefit costs	$	0		$	(4,731)		$	10,265
Unrealized holding losses/gains on marketable securities		0			134			(47	)
Fair value of cash flow hedges		0			294			206
Income tax expense (benefit) associated with reclassification adjustments:
Amortization of unrecognized employee benefit costs		0			(2,573	)		(1,841	)
Realized gains from sale of marketable securities		366			29			60
Realized losses from settlement of cash flow hedges		(79	)		(272	)		(57	)