Changes in Accumulated Other Comprehensive Income (Loss) by Component |
Changes in Accumulated Other Comprehensive Income (Loss) by Component
The following tables set forth the changes in accumulated other comprehensive income (loss), net of tax, by component for the nine month periods ended September 30, 2019 and 2018: | | | | | | | | | | | | | | | | | | Gains and Losses on Cash Flow Hedges | | Pension and Other Postretirement Benefit Items | | Foreign Currency Items | | Total | January 1, 2019 | $ | 834 |
| | $ | (138,690 | ) | | $ | (52,644 | ) | | $ | (190,500 | ) | Other comprehensive (loss) income before reclassifications | (2,300 | ) | | (18 | ) | | (44,513 | ) | | (46,831 | ) | Amounts reclassified from accumulated other comprehensive income to the consolidated statements of income | 340 |
| | 5,666 |
| | — |
| | 6,006 |
| Net current-period other comprehensive (loss) income | (1,960 | ) | | 5,648 |
| | (44,513 | ) | | (40,825 | ) | September 30, 2019 | $ | (1,126 | ) | | $ | (133,042 | ) | | $ | (97,157 | ) | | $ | (231,325 | ) |
| | | | | | | | | | | | | | | | | | Gains and Losses on Cash Flow Hedges | | Pension and Other Postretirement Benefit Items | | Foreign Currency Items | | Total | January 1, 2018 | $ | 72 |
| | $ | (103,844 | ) | | $ | (2,627 | ) | | $ | (106,399 | ) | Other comprehensive income (loss) before reclassifications | 930 |
| | 1,076 |
| | (36,670 | ) | | (34,664 | ) | Amounts reclassified from accumulated other comprehensive income to the consolidated statements of income | 956 |
| | 7,306 |
| | — |
| | 8,262 |
| Net current-period other comprehensive income (loss) | 1,886 |
| | 8,382 |
| | (36,670 | ) | | (26,402 | ) | Amounts reclassified from accumulated other comprehensive income to retained earnings (A) | — |
| | (19,331 | ) | | — |
| | (19,331 | ) | September 30, 2018 | $ | 1,958 |
| | $ | (114,793 | ) | | $ | (39,297 | ) | | $ | (152,132 | ) |
(A) This amount represents the reclassification of stranded tax effects resulting from the Act, as permitted by amended guidance issued by the FASB in February 2018. See Note 3.
The following tables set forth the reclassifications out of accumulated other comprehensive income (loss) by component for the three and nine month periods ended September 30, 2019 and 2018: | | | | | | | | | | | | Details about Accumulated Other Comprehensive Income (Loss) Components | | Amount Reclassified from Accumulated Other Comprehensive Income (Loss) | Affected Line Item in the Consolidated Statements of Income | | | Three months ended September 30, 2019 | | Three months ended September 30, 2018 | | | Gains and losses on cash flow hedges | | | | | | | Interest rate contracts | | $ | 86 |
| | $ | 40 |
| | Interest expense | Foreign exchange contracts | | (199 | ) | | (326 | ) | | Net sales | | | (113 | ) | | (286 | ) | | Total before tax | | | 19 |
| | 62 |
| | Tax benefit | | | (94 | ) | | (224 | ) | | Net of tax | | | | | | | | Pension and other postretirement benefit items | | | | | | | Amortization of prior-service costs | | $ | (107 | ) | | $ | (146 | ) | | (A) | Amortization of actuarial losses | | (2,218 | ) | | (3,014 | ) | | (A) | Settlement loss | | (93 | ) | | — |
| | (A) | | | (2,418 | ) | | (3,160 | ) | | Total before tax | | | 554 |
| | 750 |
| | Tax benefit | | | (1,864 | ) | | (2,410 | ) | | Net of tax | | | | | | | | Total reclassifications in the period | | $ | (1,958 | ) | | $ | (2,634 | ) | | |
(A) These accumulated other comprehensive income (loss) components are included within the computation of net periodic Pension and Other Postretirement Benefits cost. See Note 12. | | | | | | | | | | | | Details about Accumulated Other Comprehensive Income (Loss) Components | | Amount Reclassified from Accumulated Other Comprehensive Income (Loss) | Affected Line Item in the Consolidated Statements of Income | | | Nine months ended September 30, 2019 | | Nine months ended September 30, 2018 | | | Gains and losses on cash flow hedges | | | | | | | Interest rate contracts | | $ | 367 |
| | $ | (374 | ) | | Interest expense | Foreign exchange contracts | | (788 | ) | | (859 | ) | | Net sales | | | (421 | ) | | (1,233 | ) | | Total before tax | | | 81 |
| | 277 |
| | Tax benefit | | | (340 | ) | | (956 | ) | | Net of tax | | | | | | | | Pension and other postretirement benefit items | | | | | | | Amortization of prior-service costs | | $ | (321 | ) | | $ | (437 | ) | | (A) | Amortization of actuarial losses | | (6,668 | ) | | (9,140 | ) | | (A) | Settlement loss | | (340 | ) | | — |
| | (A) | | | (7,329 | ) | | (9,577 | ) | | Total before tax | | | 1,663 |
| | 2,271 |
| | Tax benefit | | | (5,666 | ) | | (7,306 | ) | | Net of tax | | | | | | | | Total reclassifications in the period | | $ | (6,006 | ) | | $ | (8,262 | ) | | |
(A) These accumulated other comprehensive income (loss) components are included within the computation of net periodic Pension and Other Postretirement Benefits cost. See Note 12.
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