Reclassifications Out of Accumulated Other Comprehensive Income (Loss)

3 Months Ended

Mar. 31, 2019

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-month period ended March 31, 2019 and 2018 are as follows:

	Defined Benefit Pension Plans			Foreign Currency Translation Adjustments			Foreign Currency Hedge Derivatives				Total
Balance at December 31, 2018	$	(2,339	)	$	(37,157	)	$	(4	)		$	(39,500	)
Other comprehensive income (loss) before reclassifications		—			(4,074	)		717				(3,357	)
Income tax effect of other comprehensive income (loss) before reclassifications		—			(177	)		(156	)			(333	)
Amounts reclassified from accumulated other comprehensive (income) loss into net income		—			—			49		a		49
Income taxes reclassified into net income		—			—			(11	)			(11	)
Net current period other comprehensive income (loss)		—			(4,251	)		599				(3,652	)
Balance at March 31, 2019	$	(2,339	)	$	(41,408	)	$	595			$	(43,152	)

(a)The amounts reclassified from accumulated other comprehensive income (loss) 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, 2017	$	(2,366	)	$	(17,555	)	$	277			$	(800	)		$	(20,444	)
Cumulative effect of accounting change due to adoption of ASU 2018-02		(49	)		—			9				—				(40	)
Other comprehensive income (loss) before reclassifications		—			11,750			—				1,854				13,604
Income tax effect of other comprehensive income (loss) before reclassifications		—			(76	)		—				(498	)			(574	)
Amounts reclassified from accumulated other comprehensive (income) loss into net income		—			—			(218	)	a		258		a		40
Income taxes reclassified into net income		—			—			(68	)			(69	)			(137	)
Net current period other comprehensive income (loss)		(49	)		11,674			(277	)			1,545				12,893
Balance at March 31, 2018	$	(2,415	)	$	(5,881	)	$	—			$	745			$	(7,551	)

(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 derivatives reported in accumulated other comprehensive income (loss) as of March 31, 2019 to be reclassified into earnings during the next twelve months. See Note 6 for additional information about derivative financial instruments and the effects from reclassification to net income.