Accumulated Other Comprehensive Income

9 Months Ended

Sep. 30, 2014

Accumulated Other Comprehensive Income [Abstract]

Accumulated Other Comprehensive Income

Note L – Accumulated Other Comprehensive Income

The components of Accumulated Other Comprehensive Income (Loss) (AOCI) on the Consolidated Balance Sheets at December 31, 2013 and September 30, 2014 and the changes during the nine-month period ended September 30, 2014 are presented net of taxes in the following table.

					Deferred
					Loss on
		Foreign	Retirement and		Interest
		Currency	Postretirement		Rate
		Translation	Benefit Plan		Derivative
(Thousands of dollars)		Gains (Losses)1	Adjustments1		Hedges1		Total1
Balance at December 31, 2013	$	305,192	(116,956)		(16,117)		172,119
Components of other comprehensive income (loss):
Before reclassifications to income		(195,374)	306		–		(195,068)
Reclassifications to income		–	3,690	2	1,450	3	5,140
Net other comprehensive income (loss)		(195,374)	3,996		1,450		(189,928)
Balance at September 30, 2014	$	109,818	(112,960)		(14,667)		(17,809)

1All amounts are presented net of income taxes.

2Reclassifications before taxes of $5,637 for the nine-month period ended September 30, 2014 are included in the computation of net periodic benefit expense.  See Note G for additional information.  Related income taxes of $1,947 for the nine-month period ended September 30, 2014 are included in Income tax expense.

3Reclassifications before taxes of $2,222 for the nine-month period ended September 30, 2014 are included in Interest expense.  Related income taxes of $772 for the nine-month period ended September 30, 2014 are included in Income tax expense.