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Accumulated Other Comprehensive Income (Loss) (Tables)
6 Months Ended
Jun. 30, 2019
Changes in Accumulated Other Comprehensive (Loss) Income
Changes in accumulated other comprehensive income (loss), which are presented net of tax, consist of the following:
                                 
 
Foreign
Currency
Translation
Adjustment
   
Unrealized
Gains
(Losses) on
Marketable
Securities
   
Retirement
Plans Prior
Service
Credit
   
Total
 
 
(in thousands)
 
Six Months Ended June 30, 2019
   
     
     
     
 
Balance at December 31, 2018, net of tax of $0, $(521), $(1,081), respectively
  $
(12,523
)   $
(1,845
)   $
1,328
    $
(13,040
)
Other comprehensive income before reclassifications, net of tax of $0, $1,256, $0, respectively
   
983
     
4,637
     
     
5,620
 
Amounts reclassified from accumulated other comprehensive income, net of tax of $0, $(26), $(21), respectively
   
     
(97
)    
(74
)    
(171
)
                                 
Net current period other comprehensive income (loss), net of tax of $0, $1,230, $(21), respectively
   
983
     
4,540
     
(74
)    
5,449
 
                                 
Balance at June 30, 2019, net of tax of $0, $709, $(1,102), respectively
  $
(11,540
)   $
2,695
    $
1,254
    $
(7,591
)
                                 
 
 
 
Foreign
Currency
Translation
Adjustments
   
Unrealized
Gains
(Losses) on
Marketable
Securities
   
Retirement
Plans Prior
Service
Credit
   
Total
 
 
(in thousands)
 
Six Months Ended July 1, 2018
   
     
     
     
 
Balance at December 31, 2017, net of tax of $0, $1,815, $(932), respectively
  $
15,919
    $
1,362
    $
1,495
    $
18,776
 
Other comprehensive income (loss) before reclassifications, net of tax of $0, $(774), $0, respectively
   
(18,781
)    
(2,489
)    
—  
     
(21,270
)
Amounts reclassified from accumulated other comprehensive income, net of tax of $0, $11, $(35), respectively
   
—  
     
1,469
     
(123
)    
1,346
 
                                 
Net current period other comprehensive income (loss), net of tax of $0, $(733), $(35), respectively
   
(18,781
)    
(1,020
)    
(123
)    
(19,924
)
Reclassification of income tax effects from the Tax Reform Act, net of tax of $0, $(691), $(78), respectively (a)
   
—  
     
691
     
78
     
769
 
Reclassification of unrealized gains on equity securities, net of tax of $0, $(902), $0, respectively (b)
   
—  
     
(3,125
)    
—  
     
(3,125
)
                                 
Balance as July 1, 2018, net of tax of $0, $(511), $(1,045), respectively
  $
(2,862
)   $
(2,092
)   $
1,450
    $
(3,504
)
                                 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(a) In the six months ended July 1, 2018, Teradyne early adopted the ASU
2018-02,
“Income Statement—Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income.”
As a result, the stranded tax effects resulting from the Tax Reform Act enacted in December 2017 were reclassified from accumulated other comprehensive income to retained earnings.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(b) In the six months ended July 1, 2018, Teradyne adopted the ASU
2016-01,
Financial Instruments—Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities.”
 
 
Reclassifications Out of Accumulated Other Comprehensive Income to Statements of Operations
Reclassifications out of accumulated other comprehensive income (loss) to the statement of operations for the three and six months ended June 30, 2019 and July 1, 2018 were as follows:
                                         
                     
Details about Accumulated Other Comprehensive Income 
Components
 
For the Three Months
Ended
   
For the Six Months
Ended
   
Affected Line Item
in the Statements
of Operations
   
 
June 30,
2019
   
July 1,
2018
   
June 30,
2019
   
July 1,
2018
   
 
 
(in thousands)
   
   
Available-for-sale
marketable securities:
   
     
     
     
     
 
Unrealized gains (losses), net of tax of $6, $68, $26, $(11),
respectively
  $
27
    $
199
    $
97
    $
(1,469
)    
Interest income
(expense)
 
Defined benefit pension and postretirement plans:
   
     
     
     
     
 
Amortization of prior service benefit, net of tax of $11, $18,
$21, $35 respectively
   
37
     
61
     
74
     
123
     
(a)
 
                                         
Total reclassifications, net of tax of $17, $86, $47, $24, respectively
  $
64
    $
260
    $
171
    $
(1,346
)    
Net income
 
                                         
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(a) The amortization of prior service benefit is included in the computation of net periodic pension cost and postretirement benefit. See Note R: “Retirement Plans.”