Accumulated Other Comprehensive Loss

3 Months Ended

Mar. 31, 2018

Accumulated Other Comprehensive Loss [Abstract]

Accumulated Other Comprehensive Loss

Note M – Accumulated Other Comprehensive Loss

The components of Accumulated other comprehensive loss on the Consolidated Balance Sheets at December 31, 2017 and March 31, 2018 and the changes during the three-month period ended March 31, 2018 are presented net of taxes in the following table.

					Deferred
			Retirement		Loss on
		Foreign	and		Interest
		Currency	Postretirement		Rate
		Translation	Benefit Plan		Derivative
(Thousands of dollars)		Gains (Losses)	Adjustments		Hedges		Total
Balance at December 31, 2017	$	(274,830)	(178,987)		(8,426)		(462,243)
2018 components of other comprehensive income (loss):
Before reclassifications to income and retained earnings		(52,275)	(32,159)		(1,815)		(86,249)
Reclassifications to income		–	3,170	1	585	2	3,755
Net other comprehensive income		(52,275)	(28,989)		(1,230)		(82,494)
Balance at March 31, 2018	$	(327,105)	(207,976)		(9,656)		(544,737)

1Reclassifications before taxes of $4,041 are included in the computation of net periodic benefit expense for the three-month period ended March 31, 2018.  See Note H for additional information.  Related income taxes of $871 are included in Income tax expense (benefit) for the three-month period ended March 31, 2018.

2Reclassifications before taxes of $741 are included in Interest expense, net, for the three-month period ended March 31, 2018.  Related income taxes of $156 are included in Income tax expense (benefit) for the three-month period ended March 31, 2018.  See Note L for additional information.