Reclassifications Out of Accumulated Other Comprehensive Income (Loss)

9 Months Ended

Sep. 30, 2016

Equity [Abstract]

Reclassifications Out of Accumulated Other Comprehensive Income (Loss)

Note 9 – Reclassifications Out of Accumulated Other Comprehensive Income (Loss)

Reclassification adjustments and other activities impacting accumulated other comprehensive income (loss) during the three months ended September 30, 2016 and September 30, 2015 are as follows:

	Defined Benefit Pension Plans			Foreign Currency Translation Adjustments			Commodity Hedge Derivatives			Foreign Currency Hedge Derivatives				Total
Balance at June 30, 2016	$	(2,060	)	$	(47,645	)	$	26		$	179			$	(49,500	)
Other comprehensive income (loss) before reclassifications		—			2,230			(8	)		(818	)			1,404
Income tax effect of other comprehensive income (loss) before reclassifications		—			(13	)		3			220				210
Amounts reclassified from accumulated other comprehensive income (loss) into net income		—			—			147	a		(50	)	a		97
Income taxes reclassified into net income		—			—			(54	)		13				(41	)
Net current period other comprehensive income (loss)		—			2,217			88			(635	)			1,670
Balance at September 30, 2016	$	(2,060	)	$	(45,428	)	$	114		$	(456	)		$	(47,830	)

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

	Defined Benefit Pension Plans			Foreign Currency Translation Adjustments			Commodity Hedge Derivatives			Foreign Currency Hedge Derivatives			Total
Balance at June 30, 2015	$	(2,673	)	$	(37,230	)	$	(48	)	$	(577	)	$	(40,528	)
Other comprehensive income (loss) before reclassifications		—			(4,429	)		(392	)		(873	)		(5,694	)
Income tax effect of other comprehensive income (loss) before reclassifications		—			51			162			237			450
Amounts reclassified from accumulated other comprehensive income (loss) into net income		—			—			19	a		413	a		432
Income taxes reclassified into net income		—			—			(7	)		(112	)		(119	)
Net current period other comprehensive income (loss)		—			(4,378	)		(218	)		(335	)		(4,931	)
Balance at September 30, 2015	$	(2,673	)	$	(41,608	)	$	(266	)	$	(912	)	$	(45,459	)

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

Note 9 – Reclassifications Out of Accumulated Other Comprehensive Income (Loss) – Continued

Reclassification adjustments and other activities impacting accumulated other comprehensive income (loss) during the nine months ended September 30, 2016 and September 30, 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					2,866			94			(117	)			2,843
Income tax effect of other comprehensive income (loss) before reclassifications		—			1,087			(35	)		32				1,084
Amounts reclassified from accumulated other comprehensive income (loss) into net income		—			—			450	a		(507	)	a		(57	)
Income taxes reclassified into net income		—			—			(166	)		136				(30	)
Net current period other comprehensive income (loss)		—			3,953			343			(456	)			3,840
Balance at September 30, 2016	$	(2,060	)	$	(45,428	)		114			(456	)			(47,830	)

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

	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		—			(19,312	)		(419	)			(1,746	)		(21,477	)
Income tax effect of other comprehensive income (loss) before reclassifications		—			764			162				473			1,399
Amounts reclassified from accumulated other comprehensive income (loss) into net income		—			—			(2	)	a		509	a		507
Income taxes reclassified into net income		—			—			(7	)			(138	)		(145	)
Net current period other comprehensive income (loss)		—			(18,548	)		(266	)			(902	)		(19,716	)
Balance at September 30, 2015	$	(2,673	)	$	(41,608	)	$	(266	)		$	(912	)	$	(45,459	)

(a) The amounts reclassified from accumulated other comprehensive income (loss) 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 September 30, 2016 to be reclassified into earnings during the twelve month period ending December 31, 2016.