Accumulated Other Comprehensive Income (Loss) (Tables)

3 Months Ended

Mar. 31, 2020

Summary of Changes in Accumulated Other Comprehensive Income

Below is the change in the Company’s AOCI balance by component (net of income taxes) for the three months ended March 31, 2020 and 2019:

(In thousands)	Foreign Currency Translation Adjustments			Defined Benefit Pension Plan Adjustments			Cash Flow Hedge Adjustments			Total
Balance at December 31, 2018	$	(108,481	)	$	(33,083	)	$	81		$	(141,483	)
Other comprehensive income before reclassifications		3,687			—			—			3,687
Amounts reclassified from AOCI		—			543			(2	)		541
Remeasurement adjustment related to the Tax Act ⁽¹⁾		—			(5,325	)		—			(5,325	)
Net current-period other comprehensive income		3,687			(4,782	)		(2	)		(1,097	)
Balance at March 31, 2019	$	(104,794	)	$	(37,865	)	$	79		$	(142,580	)

Balance at December 31, 2019	$	(104,037	)	$	(32,205	)	$	72		$	(136,170	)
Other comprehensive income before reclassifications		(41,182	)		808			—			(40,374	)
Amounts reclassified from AOCI		—			—			(2	)		(2	)
Net current-period other comprehensive income		(41,182	)		808			(2	)		(40,376	)
Balance at March 31, 2020	$	(145,219	)	$	(31,397	)	$	70		$	(176,546	)

⁽¹⁾

^{Represents reclassification of the stranded tax effects resulting from the U.S. Tax Cuts and Jobs Act (Tax Act) from accumulated other comprehensive income (loss) to retained earnings in accordance with ASU 2018-02.}

Summary of Amounts Reclassifications Out of Accumulated Other Comprehensive Income

Information regarding the reclassifications out of AOCI for the three-month periods ended March 31, 2020 and 2019, is displayed below:

(In thousands)	Amount Reclassified from AOCI^(a)
AOCI Components	Three Months Ended March 31						Affected Line Item in Consolidated Statements of Income
	2020			2019
Amortization of defined benefit pension actuarial losses	$	(1,071	)	$	(715	)	(b)
		263			172		Tax benefit
	$	(808	)	$	(543	)	Net of tax
Gains and losses on cash flow hedges:
Foreign exchange contracts		2			2		Cost of sales
		2			2		Total before tax
		—			—		Tax benefit
	$	2		$	2		Net of tax
Total reclassifications for the period	$	(806	)	$	(541	)	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 9 for additional details).