Accumulated Other Comprehensive Loss

3 Months Ended

Mar. 31, 2017

Accumulated Other Comprehensive Loss [Abstract]

Accumulated Other Comprehensive Loss

Note K – Accumulated Other Comprehensive Loss

The components of Accumulated Other Comprehensive Loss on the Consolidated Balance Sheets at December 31, 2016 and March 31, 2017 and the changes during the three-month period ended March 31, 2017 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, 2016	$	(446,555)	(171,305)		(10,352)		(628,212)
2017 components of other comprehensive income (loss):
Before reclassifications to income		22,664	–		–		22,664
Reclassifications to income		–	2,387	2	482	3	2,869
Net other comprehensive income		22,664	2,387		482		25,533
Balance at March 31, 2017	$	(423,891)	(168,918)		(9,870)		(602,679)

1All amounts are presented net of income taxes.

2Reclassifications before taxes of $3,678 for the three-month period ended March 31, 2017 are included in the computation of net periodic benefit expense.  See Note  F for additional information.  Related income taxes of $1,291for the three-month period ended March 31, 2017 are included in Income tax expense.

3Reclassifications before taxes of $741for the three-month period ended March 31, 2017 are included in Interest expense.  Related income taxes of $259 for the three-month period ended March 31, 2017 are included in Income tax expense.