(14) Other Comprehensive Income (Loss)

ASC 220, Comprehensive Income, establishes standards for reporting and displaying comprehensive income and its components in the consolidated financial statements. The Company reports the change in pension benefit plan assets/liabilities, cumulative foreign currency translation and change in fair value of investments as components of accumulated other comprehensive income (loss) (“AOCI”).

The tax effects of the components of other comprehensive income (loss) for the three months ended March 31, 2018 and 2017 are as follows:



	Three Months Ended						Three Months Ended
	March 31, 2018						March 31, 2017
(in thousands)	Before-Tax Amount		Tax (Expense) Benefit		Net-of-Tax Amount		Before-Tax Amount		Tax (Expense) Benefit		Net-of-Tax Amount
Other comprehensive income (loss):
Defined benefit pension plan adjustments	$	532	$	(151)	$	381	$	455	$	(187)	$	268
Foreign currency translation adjustments		(1,638)		464		(1,174)		(92)		38		(54)
Unrealized (loss) gain in fair value of investments		(119)		34		(85)		(36)		15		(21)
Total other comprehensive income (loss)		(1,225)		347		(878)		327		(134)		193
Total other comprehensive income (loss) attributable to Tutor Perini Corporation	$	(1,225)	$	347	$	(878)	$	327	$	(134)	$	193

The changes in AOCI balances by component (after tax) during the three months ended March 31, 2018 and 2017 are as follows:



	Three Months Ended March 31, 2018
	Defined				Unrealized		Accumulated
	Benefit		Foreign		Gain in		Other
	Pension		Currency		Fair Value of		Comprehensive
(in thousands)	Plan		Translation		Investments, Net		Loss
Attributable to Tutor Perini Corporation:
Balance as of December 31, 2017	$	(39,441)	$	(3,591)	$	314	$	(42,718)
Other comprehensive loss before reclassifications		—		(1,174)		(85)		(1,259)
Amounts reclassified from AOCI		381		—		—		381
Total other comprehensive income (loss)		381		(1,174)		(85)		(878)
Balance as of March 31, 2018	$	(39,060)	$	(4,765)	$	229	$	(43,596)



	Three Months Ended March 31, 2017
	Defined				Unrealized		Accumulated
	Benefit		Foreign		Gain in		Other
	Pension		Currency		Fair Value of		Comprehensive
(in thousands)	Plan		Translation		Investments, Net		Loss
Attributable to Tutor Perini Corporation:
Balance as or December 31, 2016	$	(40,865)	$	(4,864)	$	316	$	(45,413)
Other comprehensive loss before reclassifications		—		(54)		(21)		(75)
Amounts reclassified from AOCI		268		—		—		268
Total other comprehensive income (loss)		268		(54)		(21)		193
Balance as of March 31, 2017	$	(40,597)	$	(4,918)	$	295	$	(45,220)