| Accumulated Other Comprehensive Income |
5. Accumulated Other Comprehensive Income:
The following tables present the tax effects of each component of other comprehensive income (loss) for the three and six months ended June 30, 2018 and 2017:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended June 30, |
|
|
2018 |
|
2017 |
|
|
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 |
|
$ |
1,833 |
|
|
$ |
(458 |
) |
|
$ |
1,375 |
|
|
$ |
(34 |
) |
|
$ |
12 |
|
|
$ |
(22 |
) |
Benefit plans, net |
|
1,833 |
|
|
(458 |
) |
|
1,375 |
|
|
(34 |
) |
|
12 |
|
|
(22 |
) |
Net gain (loss) from hedging activities |
|
737 |
|
|
(184 |
) |
|
553 |
|
|
(2,025 |
) |
|
769 |
|
|
(1,256 |
) |
Foreign currency translation |
|
(29,947 |
) |
|
454 |
|
|
(29,493 |
) |
|
30,612 |
|
|
(4,307 |
) |
|
26,305 |
|
Other comprehensive income (loss) |
|
$ |
(27,377 |
) |
|
$ |
(188 |
) |
|
$ |
(27,565 |
) |
|
$ |
28,553 |
|
|
$ |
(3,526 |
) |
|
$ |
25,027 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six months ended June 30, |
|
|
2018 |
|
2017 |
|
|
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 |
|
$ |
1,809 |
|
|
$ |
(452 |
) |
|
$ |
1,357 |
|
|
$ |
(228 |
) |
|
$ |
25 |
|
|
$ |
(203 |
) |
Benefit plans, net |
|
1,809 |
|
|
(452 |
) |
|
1,357 |
|
|
(228 |
) |
|
25 |
|
|
(203 |
) |
Net gain (loss) from hedging activities |
|
3,649 |
|
|
(913 |
) |
|
2,736 |
|
|
(4,887 |
) |
|
1,862 |
|
|
(3,025 |
) |
Foreign currency translation |
|
(19,833 |
) |
|
(989 |
) |
|
(20,822 |
) |
|
47,859 |
|
|
(6,217 |
) |
|
41,642 |
|
Other comprehensive income (loss) |
|
$ |
(14,375 |
) |
|
$ |
(2,354 |
) |
|
$ |
(16,729 |
) |
|
$ |
42,744 |
|
|
$ |
(4,330 |
) |
|
$ |
38,414 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The following table presents the change in accumulated other comprehensive income, net of tax, by component for the six months ended June 30, 2018 and 2017:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Defined benefit
and other
postretirement
plans |
|
Net gain (loss) from hedging activities |
|
Foreign
currency
translation |
|
Total |
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 |
) |
|
|
|
|
|
|
|
|
|
December 31, 2016 |
|
$ |
7,513 |
|
|
$ |
4,557 |
|
|
$ |
(65,781 |
) |
|
$ |
(53,711 |
) |
Other comprehensive income (loss) before reclassifications |
|
(137 |
) |
|
(3,038 |
) |
|
41,141 |
|
|
37,966 |
|
Amounts reclassified from accumulated other comprehensive income(1)
|
|
(66 |
) |
|
13 |
|
|
— |
|
|
(53 |
) |
Net current period other comprehensive income (loss) |
|
(203 |
) |
|
(3,025 |
) |
|
41,141 |
|
|
37,913 |
|
June 30, 2017 |
|
$ |
7,310 |
|
|
$ |
1,532 |
|
|
$ |
(24,640 |
) |
|
$ |
(15,798 |
) |
|
|
|
|
|
|
|
|
|
|
|
(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, 2018 and 2017.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Details about Accumulated Other Comprehensive Income Components |
|
Amount Reclassified from Accumulated Other Comprehensive Income(a) |
|
Affected Line Item in the Statements of Operations |
|
|
Three months ended
June 30, |
|
Six months ended
June 30, |
|
|
|
|
2018 |
|
2017 |
|
2018 |
|
2017 |
|
|
Defined benefit and other postretirement plans |
|
|
|
|
|
|
|
|
|
|
Amortization of prior service credit |
|
$ |
(20 |
) |
|
$ |
(20 |
) |
|
$ |
(39 |
) |
|
$ |
(39 |
) |
|
(b) |
Amortization of net (gain) loss |
|
1 |
|
|
(19 |
) |
|
3 |
|
|
(38 |
) |
|
(b) |
|
|
(19 |
) |
|
(39 |
) |
|
(36 |
) |
|
(77 |
) |
|
Total before tax |
|
|
3 |
|
|
6 |
|
|
6 |
|
|
11 |
|
|
Tax expense (benefit) |
|
|
$ |
(16 |
) |
|
$ |
(33 |
) |
|
$ |
(30 |
) |
|
$ |
(66 |
) |
|
Net of tax |
|
|
|
|
|
|
|
|
|
|
|
Net (gain) loss from hedging activities |
|
|
|
|
|
|
|
|
|
|
Interest rate caps |
|
$ |
58 |
|
|
$ |
9 |
|
|
$ |
93 |
|
|
$ |
11 |
|
|
Interest expense |
Natural gas swaps |
|
99 |
|
|
28 |
|
|
71 |
|
|
10 |
|
|
Cost of goods sold |
|
|
157 |
|
|
37 |
|
|
164 |
|
|
21 |
|
|
Total before tax |
|
|
(39 |
) |
|
(8 |
) |
|
(41 |
) |
|
(8 |
) |
|
Tax expense (benefit) |
|
|
$ |
118 |
|
|
$ |
29 |
|
|
$ |
123 |
|
|
$ |
13 |
|
|
Net of tax |
|
|
|
|
|
|
|
|
|
|
|
Total reclassifications for the period |
|
$ |
102 |
|
|
$ |
(4 |
) |
|
$ |
93 |
|
|
$ |
(53 |
) |
|
Net of tax |
|
|
(a) |
Amounts in parentheses indicate credits to profit/loss. |
|
|
(b) |
These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost (see Note 15 to these condensed consolidated financial statements for additional details).
|
|