Quarterly report pursuant to Section 13 or 15(d)

Accumulated Other Comprehensive Income

v3.19.2
Accumulated Other Comprehensive Income
6 Months Ended
Jun. 30, 2019
Equity [Abstract]  
Accumulated Other Comprehensive Income
5. Accumulated Other Comprehensive Income:
The following tables present the tax effects of each component of other comprehensive income for the three and six months ended June 30, 2019 and 2018:
 
 
Three months ended June 30,
 
 
2019
 
2018
 
 
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 of net gains and (losses)
 
$
(8
)
 
$
2

 
$
(6
)
 
$
1,853

 
$
(463
)
 
$
1,390

Amortization of prior service cost
 
(33
)
 
8

 
(25
)
 
(20
)
 
5

 
(15
)
Benefit plans, net
 
(41
)
 
10

 
(31
)
 
1,833

 
(458
)
 
1,375

Net (loss) gain from hedging activities
 
(1,556
)
 
389

 
(1,167
)
 
737

 
(184
)
 
553

Foreign currency translation
 
5,469

 
616

 
6,085

 
(29,947
)
 
454

 
(29,493
)
Other comprehensive income (loss)
 
$
3,872

 
$
1,015

 
$
4,887

 
$
(27,377
)
 
$
(188
)
 
$
(27,565
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Six months ended June 30,
 
 
2019
 
2018
 
 
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 of net gains and (losses)
 
$
(16
)
 
$
4

 
$
(12
)
 
$
1,848

 
$
(462
)
 
$
1,386

Amortization of prior service cost
 
(65
)
 
16

 
(49
)
 
(39
)
 
10

 
(29
)
Benefit plans, net
 
(81
)
 
20

 
(61
)
 
1,809

 
(452
)
 
1,357

Net (loss) gain from hedging activities
 
(3,625
)
 
906

 
(2,719
)
 
3,649

 
(913
)
 
2,736

Foreign currency translation
 
14,751

 
(1,499
)
 
13,252

 
(19,833
)
 
(989
)
 
(20,822
)
Other comprehensive income (loss)
 
$
11,045

 
$
(573
)
 
$
10,472

 
$
(14,375
)
 
$
(2,354
)
 
$
(16,729
)
 
 
 
 
 
 
 
 
 
 
 
 
 
The following table presents the changes in accumulated other comprehensive income (loss), net of tax, by component for the six months ended June 30, 2019 and 2018:
 
 
Defined benefit
and other
postretirement
plans 
 
Net gain (loss)
from hedging
activities
 
Foreign
currency
translation 
 
Total 
December 31, 2018
 
$
(546
)
 
$
637

 
$
(39,195
)
 
$
(39,104
)
Other comprehensive income (loss) before reclassifications
 
2

 
(2,861
)
 
12,797

 
9,938

Amounts reclassified from accumulated other comprehensive income(1)
 
(63
)
 
142

 

 
79

Net current period other comprehensive income (loss)
 
(61
)
 
(2,719
)
 
12,797

 
10,017

Tax Cuts and Jobs Act, reclassification from AOCI to retained earnings
 
1,684

 
190

 

 
1,874

June 30, 2019
 
$
1,077

 
$
(1,892
)
 
$
(26,398
)
 
$
(27,213
)
 
 
 
 
 
 
 
 
 
December 31, 2017
 
$
7,412

 
$
967

 
$
(4,068
)
 
$
4,311

Other comprehensive income (loss) before reclassifications
 
1,387

 
2,613

 
(20,582
)
 
(16,582
)
Amounts reclassified from accumulated other comprehensive income(1)  
 
(30
)
 
123

 

 
93

Net current period other comprehensive income (loss)
 
1,357

 
2,736

 
(20,582
)
 
(16,489
)
June 30, 2018
 
$
8,769

 
$
3,703

 
$
(24,650
)
 
$
(12,178
)
 
 
 
 
 
 
 
 
 
 
(1) 
See the following table for details about these reclassifications. Amounts in parentheses indicate debits.

The following table presents the reclassifications out of accumulated other comprehensive income for the three and six months ended June 30, 2019 and 2018:
Details about Accumulated Other Comprehensive Income Components
 
Amounts Reclassified from Accumulated Other Comprehensive Income(a)
 
Affected Line Item where Income is Presented
 
 
Three months ended
June 30,
 
Six months ended
June 30,
 
 
 
 
2019
 
2018
 
2019
 
2018
 
 
Amortization of defined benefit and other postretirement items
 
 
 
 
 
 
 
 
 
 
Prior service credit (cost)
 
$
33

 
$
20

 
$
65

 
$
39

 
Other income (expense)(b)
Actuarial gains (losses)
 
9

 
(1
)
 
18

 
(3
)
 
Other income (expense)(b)
 
 
42

 
19

 
83

 
36

 
Total before tax
 
 
(10
)
 
(3
)
 
(20
)
 
(6
)
 
Tax expense
 
 
$
32

 
$
16

 
$
63

 
$
30

 
Net of tax
 
 
 
 
 
 
 
 
 
 
 
Gains and losses on cash flow hedges
 
 
 
 
 
 
 
 
 
 
Interest rate caps
 
$
(169
)
 
$
(58
)
 
$
(292
)
 
$
(93
)
 
Interest expense
Natural gas swaps
 
(87
)
 
(99
)
 
104

 
(71
)
 
Cost of goods sold
 
 
(256
)
 
(157
)
 
(188
)
 
(164
)
 
Total before tax
 
 
63

 
39

 
46

 
41

 
Tax benefit
 
 
$
(193
)
 
$
(118
)
 
$
(142
)
 
$
(123
)
 
Net of tax
 
 
 
 
 
 
 
 
 
 
 
Total reclassifications for the period
 
$
(161
)
 
$
(102
)
 
$
(79
)
 
$
(93
)
 
Net of tax
 
(a) 
Amounts in parentheses indicate debits to profit/loss.
(b) 
These accumulated other comprehensive income (loss) components are components of net periodic pension and other postretirement cost (see Note 16 to these condensed consolidated financial statements for additional details).