| Accumulated Other Comprehensive Income (Loss) |
|
10. |
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) |
Below are the changes in the Company’s accumulated other comprehensive income (loss) (AOCI) balances by component (net of income taxes) for the three and six months ended June 30, 2015 and 2016:
|
(In thousands) |
|
Foreign
Currency
Translation
Adjustments |
|
|
Defined
Benefit
Pension Plan
Adjustments |
|
|
Cash Flow
Hedge
Adjustments |
|
|
Total |
|
|
Balance at March 31, 2015 |
|
$ |
(68,051 |
) |
|
$ |
(40,400 |
) |
|
$ |
76 |
|
|
$ |
(108,375 |
) |
|
Other comprehensive income before reclassifications |
|
|
5,940 |
|
|
|
— |
|
|
|
16 |
|
|
|
5,956 |
|
|
Amounts reclassified from AOCI |
|
|
— |
|
|
|
750 |
|
|
|
— |
|
|
|
750 |
|
|
Net current-period other comprehensive income |
|
|
5,940 |
|
|
|
750 |
|
|
|
16 |
|
|
|
6,706 |
|
|
Balance at June 30, 2015 |
|
$ |
(62,111 |
) |
|
$ |
(39,650 |
) |
|
$ |
92 |
|
|
$ |
(101,669 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance at March 31, 2016 |
|
$ |
(75,758 |
) |
|
$ |
(36,261 |
) |
|
$ |
53 |
|
|
$ |
(111,966 |
) |
|
Other comprehensive income before reclassifications |
|
|
(2,648 |
) |
|
|
— |
|
|
|
(9 |
) |
|
|
(2,657 |
) |
|
Amounts reclassified from AOCI |
|
|
— |
|
|
|
565 |
|
|
|
3 |
|
|
|
568 |
|
|
Net current-period other comprehensive income |
|
|
(2,648 |
) |
|
|
565 |
|
|
|
(6 |
) |
|
|
(2,089 |
) |
|
Balance at June 30, 2016 |
|
$ |
(78,406 |
) |
|
$ |
(35,696 |
) |
|
$ |
47 |
|
|
$ |
(114,055 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance at December 31, 2014 |
|
$ |
(42,914 |
) |
|
$ |
(41,149 |
) |
|
$ |
118 |
|
|
$ |
(83,945 |
) |
|
Other comprehensive income before reclassifications |
|
|
(19,197 |
) |
|
|
— |
|
|
|
(27 |
) |
|
$ |
(19,224 |
) |
|
Amounts reclassified from AOCI |
|
|
— |
|
|
|
1,499 |
|
|
|
1 |
|
|
$ |
1,500 |
|
|
Net current-period other comprehensive income |
|
|
(19,197 |
) |
|
|
1,499 |
|
|
|
(26 |
) |
|
|
(17,724 |
) |
|
Balance at June 30, 2015 |
|
$ |
(62,111 |
) |
|
$ |
(39,650 |
) |
|
$ |
92 |
|
|
$ |
(101,669 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance at December 31, 2015 |
|
$ |
(88,337 |
) |
|
$ |
(36,825 |
) |
|
$ |
74 |
|
|
$ |
(125,088 |
) |
|
Other comprehensive income before reclassifications |
|
|
9,931 |
|
|
|
— |
|
|
|
(32 |
) |
|
|
9,899 |
|
|
Amounts reclassified from AOCI |
|
|
— |
|
|
|
1,129 |
|
|
|
5 |
|
|
|
1,134 |
|
|
Net current-period other comprehensive income |
|
|
9,931 |
|
|
|
1,129 |
|
|
|
(27 |
) |
|
|
11,033 |
|
|
Balance at June 30, 2016 |
|
$ |
(78,406 |
) |
|
$ |
(35,696 |
) |
|
$ |
47 |
|
|
$ |
(114,055 |
) |
Information regarding the reclassifications out of AOCI for the three and six months ended June 30, 2016 and 2015, is displayed below:
|
(In thousands) |
|
Amount Reclassified from AOCI (a) |
|
|
|
|
AOCI Components |
|
Three Months Ended
June 30 |
|
|
Six Months Ended
June 30 |
|
|
Affected Line Item in
Consolidated Statements
of Income |
|
|
|
2016 |
|
|
2015 |
|
|
2016 |
|
|
2015 |
|
|
|
|
Amortization of defined benefit pension actuarial losses |
|
$ |
(902 |
) |
|
$ |
(1,195 |
) |
|
$ |
(1,804 |
) |
|
$ |
(2,389 |
) |
|
(b) |
|
|
|
|
337 |
|
|
|
445 |
|
|
|
675 |
|
|
|
890 |
|
|
Tax benefit |
|
|
|
$ |
(565 |
) |
|
$ |
(750 |
) |
|
$ |
(1,129 |
) |
|
$ |
(1,499 |
) |
|
Net of tax |
|
Gains and losses on cash flow hedges: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest rate contracts |
|
$ |
(7 |
) |
|
$ |
(5 |
) |
|
$ |
(13 |
) |
|
$ |
(10 |
) |
|
Interest, net |
|
Foreign exchange contracts |
|
|
2 |
|
|
|
3 |
|
|
|
4 |
|
|
|
5 |
|
|
Cost of sales |
|
|
|
|
(5 |
) |
|
|
(2 |
) |
|
|
(9 |
) |
|
|
(5 |
) |
|
Total before tax |
|
|
|
|
2 |
|
|
|
2 |
|
|
|
4 |
|
|
|
4 |
|
|
Tax benefit |
|
|
|
$ |
(3 |
) |
|
$ |
- |
|
|
$ |
(5 |
) |
|
$ |
(1 |
) |
|
Net of tax |
|
Total reclassifications for the period |
|
$ |
(568 |
) |
|
$ |
(750 |
) |
|
$ |
(1,134 |
) |
|
$ |
(1,500 |
) |
|
Net of tax |
|
|
(a) |
Amounts in parentheses denote expense to statement of income. |
|
|
(b) |
This component of accumulated other comprehensive income is included in the computation of net periodic benefit cost (see Note 8 for additional details). |
|
|