Reclassifications Out of Accumulated Other Comprehensive Income (Loss)

3 Months Ended

Mar. 31, 2016

Equity [Abstract]

Reclassifications Out of Accumulated Other Comprehensive Income (Loss)

Note 8 – Reclassifications Out of Accumulated Other Comprehensive Income (Loss)

Reclassification adjustments and other activities impacting accumulated other comprehensive income (loss) during the three months ended March 31, 2016 and March 31, 2015 are as follows:

	Defined Benefit Pension Plans			Foreign Currency Translation Adjustments			Commodity Hedge Derivatives			Foreign Currency Hedge Derivatives			Total
Balance at December 31, 2015	$	(2,060	)	$	(49,381	)	$	(229	)	$	—		$	(51,670	)
Other comprehensive income (loss) before reclassifications		—			7,910			114			1,293			9,317
Income tax effect of other comprehensive income (loss) before reclassifications		—			1,242			(42	)		(347	)		853
Amounts reclassified from accumulated other comprehensive income (loss) into net income		—			—			182	a		—			182
Income taxes reclassified into net income		—			—			(67	)		—			(67	)
Net current period other comprehensive income (loss)		—			9,152			187			946			10,285
Balance at March 31, 2016	$	(2,060	)	$	(40,229	)	$	(42	)	$	946		$	(41,385	)

(a) The amounts reclassified from  accumulated other comprehensive income are included in cost of sales.

Note 8 – Reclassifications Out of Accumulated Other Comprehensive Income (Loss) – Continued

	Defined Benefit Pension Plans			Foreign Currency Translation Adjustments			Commodity Hedge Derivatives		Foreign Currency Hedge Derivatives			Total
Balance at December 31, 2014	$	(2,673	)	$	(23,060	)	$	—	$	(10	)	$	(25,743	)
Other comprehensive income (loss) before reclassifications		—			(19,605	)		76		(357	)		(19,886	)
Income tax effect of other comprehensive income (loss) before reclassifications		—			467			—		89			556
Amounts reclassified from accumulated other comprehensive income (loss) into net income		—			—			—		10	a		10
Income taxes reclassified into net income		—			—			—		—			—
Net current period other comprehensive income (loss)		—			(19,138	)		76		(258	)		(19,320	)
Balance at March 31, 2015	$	(2,673	)	$	(42,198	)	$	76	$	(268	)	$	(45,063	)

(a) The amounts reclassified from  accumulated other comprehensive income are included in cost of sales.

We expect all of the existing gains and losses related to foreign currency and commodity derivatives reported in accumulated other comprehensive income as of March 31, 2016 to be reclassified into earning during the twelve month period ending December 31, 2016.