Accumulated Other Comprehensive Loss

9 Months Ended

Sep. 30, 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 September 30, 2018 and the changes during the nine-month period ended September 30, 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		(53,805)	(32,159)		(1,815)		(87,779)
Reclassifications to income		–	10,498	1	1,756	2	12,254
Net other comprehensive loss		(53,805)	(21,661)		(59)		(75,525)
Balance at September 30, 2018	$	(328,635)	(200,648)		(8,485)		(537,768)

1Reclassifications before taxes of $13,111 are included in the computation of net periodic benefit expense for the nine-month period ended September 30, 2018.  See Note H for additional information.  Related income taxes of $2,613 are included in Income tax expense (benefit) for the nine-month period ended September 30, 2018.

2Reclassifications before taxes of $2,222 are included in Interest expense, net, for the nine-month period ended September 30, 2018.  Related income taxes of $466 are included in Income tax expense (benefit) for the nine-month period ended September 30, 2018.  See Note L for additional information.