Annual report pursuant to Section 13 and 15(d)

Accumulated Other Comprehensive Income (Loss)

v3.8.0.1
Accumulated Other Comprehensive Income (Loss)
12 Months Ended
Dec. 31, 2017
Equity [Abstract]  
Accumulated Other Comprehensive Income (Loss)
5. Accumulated Other Comprehensive Income (Loss):
The following table presents the components of accumulated other comprehensive income (loss), net of tax, as of December 31, 2017 and 2016:
 
 
December 31,
 
 
2017
 
2016
Amortization and unrealized gains on pension and postretirement plans, net of tax of ($4,761) and ($4,799)
 
$
7,412

 
$
7,513

Net changes in fair values of derivatives, net of tax of ($584) and ($2,793)
 
967

 
4,557

Foreign currency translation adjustments, net of tax of $790 and $6,627
 
(4,068
)
 
(65,781
)
Accumulated other comprehensive income (loss)
 
$
4,311

 
$
(53,711
)
 
 
 
 
 
The following table presents the tax effects of each component of other comprehensive income (loss) for the years ended December 31, 2017, 2016 and 2015:
 
 
Years ended
December 31,
 
 
2017
 
2016
 
2015
 
 
Pre-tax amount
 
Tax benefit/
(expense)
 
After-tax amount
 
Pre-tax amount
 
Tax benefit/
(expense)
 
After-tax amount
 
Pre-tax amount
 
Tax benefit/
(expense)
 
After-tax amount
Defined benefit and other postretirement plans:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Amortization and unrealized losses
 
$
(139
)
 
$
38

 
$
(101
)
 
$
11,664

 
$
(4,799
)
 
$
6,865

 
$
648

 
$

 
$
648

Benefit plans, net
 
(139
)
 
38

 
(101
)
 
11,664

 
(4,799
)
 
6,865

 
648

 

 
648

Net loss from hedging activities
 
(5,799
)
 
2,209

 
(3,590
)
 
7,350

 
(2,793
)
 
4,557

 

 

 

Foreign currency translation
 
66,438

 
(5,837
)
 
60,601

 
(73,461
)
 
6,627

 
(66,834
)
 

 

 

Other comprehensive income (loss)
 
$
60,500

 
$
(3,590
)
 
$
56,910

 
$
(54,447
)
 
$
(965
)
 
$
(55,412
)
 
$
648

 
$

 
$
648

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The following table presents the change in accumulated other comprehensive income (loss), net of tax, by component for the years ended December 31, 2017 and 2016: 
 
Defined benefit
and other
postretirement
plans
 
 
Net gain (loss) from hedging activities
 
Foreign
currency
translation
 
 
Total 
December 31, 2015
$
648

 
$

 
$

 
$
648

Other comprehensive income (loss) before reclassifications
6,844

 
3,669

 
(65,781)

 
(55,268)

Amounts reclassified from accumulated other comprehensive income(1)   
21

 
888

 

 
909

Net current period other comprehensive income (loss)
6,865

 
4,557

 
(65,781)

 
(54,359)

December 31, 2016
$
7,513

 
$
4,557

 
$
(65,781
)
 
$
(53,711
)
Other comprehensive income (loss) before reclassifications
(208)

 
(3,797)

 
61,713

 
57,708

Amounts reclassified from accumulated other comprehensive income (loss)(1)   
107

 
207

 

 
314

Net current period other comprehensive income (loss)
(101)

 
(3,590)

 
61,713

 
58,022

December 31, 2017
$
7,412

 
$
967

 
$
(4,068
)
 
$
4,311

 
 
 
 
 
 
 
 

(1) 
See the following table for details about these reclassifications.
The following table presents the reclassifications out of accumulated other comprehensive income (loss) for the years ended December 31, 2017 and 2016. Amounts in parenthesis indicate debits to profit/loss. 
Details about Accumulated Other
Comprehensive Income (Loss) Components
 
Amount Reclassified from Accumulated Other Comprehensive Income (Loss)
 
Affected Line Item in the
Statements of Operations
 
 
Years ended
December 31,
 
 
 
 
2017
 
2016
 
 
Defined benefit and other postretirement plans:
 
 
 
 
 
 
Amortization of prior service cost
 
$
78

 
$

 
(a)
Amortization of net gain (loss)
 
54

 
26

 
(a)
 
 
132

 
26

 
Total before tax
 
 
(25
)
 
(5
)
 
Tax (expense) benefit
 
 
$
107

 
$
21

 
Net of tax
 
 
 
 
 
 
 
Net gain (loss) from hedging activities:
 
 
 
 
 
 
Interest rate caps
 
$
40

 
$

 
Interest expense
Natural gas swaps
 
222

 
1,433

 
Cost of goods sold
 
 
262

 
1,433

 
Total before tax
 
 
(55
)
 
(545
)
 
Tax (expense) benefit
 
 
$
207

 
$
888

 
Net of tax
 
 
 
 
 
 
 
Total reclassifications for the period
 
$
314

 
$
909

 
Net of tax
 
 
 
 
 
 
 

(a) 
These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost (see Note 19 to these consolidated financial statements for additional details).