(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 September 30, 2018 and 2017 are as follows:



	Three Months Ended						Three Months Ended
	September 30, 2018						September 30, 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	$	513	$	(148)	$	365	$	456	$	(187)	$	269
Foreign currency translation adjustments		519		(143)		376		1,232		(506)		726
Unrealized gain (loss) in fair value of investments		(173)		44		(129)		21		(9)		12
Total other comprehensive income (loss)		859		(247)		612		1,709		(702)		1,007
Total other comprehensive income (loss) attributable to Tutor Perini Corporation	$	859	$	(247)	$	612	$	1,709	$	(702)	$	1,007

The tax effects of the components of other comprehensive income (loss) for the nine months ended September 30, 2018 and 2017 are as follows:



	Nine Months Ended						Nine Months Ended
	September 30, 2018						September 30, 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	$	1,539	$	(439)	$	1,100	$	1,368	$	(562)	$	806
Foreign currency translation adjustment		(2,034)		602		(1,432)		2,242		(921)		1,321
Unrealized gain (loss) in fair value of investments		(1,468)		325		(1,143)		(20)		8		(12)
Total other comprehensive income (loss)		(1,963)		488		(1,475)		3,590		(1,475)		2,115
Total other comprehensive income (loss) attributable to Tutor Perini Corporation	$	(1,963)	$	488	$	(1,475)	$	3,590	$	(1,475)	$	2,115

The changes in AOCI balances by component (after tax) during the three and nine months ended September 30, 2018 are as follows:



	Three Months Ended September 30, 2018
	Defined				Unrealized		Accumulated
	Benefit		Foreign		Gain (Loss) in		Other
	Pension		Currency		Fair Value of		Comprehensive
(in thousands)	Plan		Translation		Investments, Net		Loss
Attributable to Tutor Perini Corporation:
Balance as of June 30, 2018	$	(38,706)	$	(5,399)	$	(700)	$	(44,805)
Other comprehensive income (loss) before reclassifications		—		376		(145)		231
Amounts reclassified from AOCI		365		—		16		381
Total other comprehensive income (loss)		365		376		(129)		612
Balance as of September 30, 2018	$	(38,341)	$	(5,023)	$	(829)	$	(44,193)



	Nine Months Ended September 30, 2018
	Defined				Unrealized		Accumulated
	Benefit		Foreign		Gain (Loss) 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 income (loss) before reclassifications		—		(1,432)		(1,159)		(2,591)
Amounts reclassified from AOCI		1,100		—		16		1,116
Total other comprehensive income (loss)		1,100		(1,432)		(1,143)		(1,475)
Balance as of September 30, 2018	$	(38,341)	$	(5,023)	$	(829)	$	(44,193)

The changes in AOCI balance by component (after tax) for the three and nine months ended September 30, 2017 are as follows:



	Three Months Ended September 30, 2017
	Defined				Unrealized		Accumulated
	Benefit		Foreign		Gain (Loss) in		Other
	Pension		Currency		Fair Value of		Comprehensive
(in thousands)	Plan		Translation		Investments, Net		Loss
Attributable to Tutor Perini Corporation:
Balance as of June 30, 2017	$	(40,328)	$	(4,269)	$	292	$	(44,305)
Other comprehensive income (loss) before reclassifications		—		726		12		738
Amounts reclassified from AOCI		269		—		—		269
Total other comprehensive income (loss)		269		726		12		1,007
Balance as of September 30, 2017	$	(40,059)	$	(3,543)	$	304	$	(43,298)



	Nine Months Ended September 30, 2017
	Defined				Unrealized		Accumulated
	Benefit		Foreign		Gain (Loss) in		Other
	Pension		Currency		Value of		Comprehensive
(in thousands)	Plan		Translation		Investments, Net		Loss
Attributable to Tutor Perini Corporation:
Balance as of December 31, 2016	$	(40,865)	$	(4,864)	$	316	$	(45,413)
Other comprehensive income (loss) before reclassifications		—		1,321		(12)		1,309
Amounts reclassified from AOCI		806		—		—		806
Total other comprehensive income (loss)		806		1,321		(12)		2,115
Balance as of September 30, 2017	$	(40,059)	$	(3,543)	$	304	$	(43,298)