| Schedule of 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:
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December 31, |
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2017 |
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2016 |
Amortization and unrealized gains on pension and postretirement plans, net of tax of ($4,761) and ($4,799)
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$ |
7,412 |
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$ |
7,513 |
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Net changes in fair values of derivatives, net of tax of ($584) and ($2,793)
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967 |
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|
4,557 |
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Foreign currency translation adjustments, net of tax of $790 and $6,627
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(4,068 |
) |
|
(65,781 |
) |
Accumulated other comprehensive income (loss) |
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$ |
4,311 |
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|
$ |
(53,711 |
) |
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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:
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Years ended
December 31, |
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2017 |
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2016 |
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2015 |
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Pre-tax amount |
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Tax benefit/
(expense)
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After-tax amount |
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Pre-tax amount |
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Tax benefit/
(expense)
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After-tax amount |
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Pre-tax amount |
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Tax benefit/
(expense)
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After-tax amount |
Defined benefit and other postretirement plans: |
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Amortization and unrealized losses |
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$ |
(139 |
) |
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$ |
38 |
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$ |
(101 |
) |
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$ |
11,664 |
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$ |
(4,799 |
) |
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$ |
6,865 |
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$ |
648 |
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$ |
— |
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$ |
648 |
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Benefit plans, net |
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(139 |
) |
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38 |
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(101 |
) |
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11,664 |
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(4,799 |
) |
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6,865 |
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|
648 |
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— |
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|
648 |
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Net loss from hedging activities |
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(5,799 |
) |
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2,209 |
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(3,590 |
) |
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7,350 |
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(2,793 |
) |
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4,557 |
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— |
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— |
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— |
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Foreign currency translation |
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66,438 |
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(5,837 |
) |
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60,601 |
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(73,461 |
) |
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6,627 |
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|
(66,834 |
) |
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— |
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— |
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— |
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Other comprehensive income (loss) |
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$ |
60,500 |
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|
$ |
(3,590 |
) |
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$ |
56,910 |
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$ |
(54,447 |
) |
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$ |
(965 |
) |
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$ |
(55,412 |
) |
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$ |
648 |
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$ |
— |
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$ |
648 |
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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:
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Defined benefit
and other
postretirement
plans
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Net gain (loss) from hedging activities |
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Foreign
currency
translation
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Total
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December 31, 2015 |
$ |
648 |
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|
$ |
— |
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$ |
— |
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$ |
648 |
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Other comprehensive income (loss) before reclassifications |
6,844 |
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|
3,669 |
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(65,781) |
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|
(55,268) |
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Amounts reclassified from accumulated other comprehensive income(1)
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21 |
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|
888 |
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— |
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|
909 |
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Net current period other comprehensive income (loss) |
6,865 |
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|
4,557 |
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(65,781) |
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(54,359) |
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December 31, 2016 |
$ |
7,513 |
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$ |
4,557 |
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$ |
(65,781 |
) |
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$ |
(53,711 |
) |
Other comprehensive income (loss) before reclassifications |
(208) |
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|
(3,797) |
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|
61,713 |
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|
57,708 |
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Amounts reclassified from accumulated other comprehensive income (loss)(1)
|
107 |
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|
207 |
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— |
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|
314 |
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Net current period other comprehensive income (loss) |
(101) |
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(3,590) |
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61,713 |
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|
58,022 |
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December 31, 2017 |
$ |
7,412 |
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$ |
967 |
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$ |
(4,068 |
) |
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$ |
4,311 |
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(1) |
See the following table for details about these reclassifications. |
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