Quarterly report pursuant to Section 13 or 15(d)

Accumulated Other Comprehensive Income (Tables)

v3.19.1
Accumulated Other Comprehensive Income (Tables)
3 Months Ended
Mar. 31, 2019
Equity [Abstract]  
Schedule of Accumulated Other Comprehensive Income (Loss)
The following tables present the tax effects of each component of other comprehensive income for the three months ended March 31, 2019 and 2018:
 
 
Three months ended March 31,
 
 
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 and unrealized losses
 
$
(40
)
 
$
10

 
$
(30
)
 
$
(24
)
 
$
6

 
$
(18
)
Benefit plans, net
 
(40
)
 
10

 
(30
)
 
(24
)
 
6

 
(18
)
Net (loss) gain from hedging activities
 
(2,070
)
 
518

 
(1,552
)
 
2,912

 
(729
)
 
2,183

Foreign currency translation
 
9,282

 
(2,115
)
 
7,167

 
10,114

 
(1,443
)
 
8,671

Other comprehensive income
 
$
7,172

 
$
(1,587
)
 
$
5,585

 
$
13,002

 
$
(2,166
)
 
$
10,836

 
 
 
 
 
 
 
 
 
 
 
 
 
The following table presents the change in accumulated other comprehensive income (loss), net of tax, by component for the three months ended March 31, 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
 
1

 
(1,501
)
 
6,852

 
5,352

Amounts reclassified from accumulated other comprehensive income(1)
 
(31
)
 
(51
)
 

 
(82
)
Net current period other comprehensive income (loss)
 
(30
)
 
(1,552
)
 
6,852

 
5,270

Cumulative adjustment from adoption of stranded OCI standard
 
1,684

 
190

 

 
1,874

March 31, 2019
 
$
1,108

 
$
(725
)
 
$
(32,343
)
 
$
(31,960
)
 
 
 
 
 
 
 
 
 
December 31, 2017
 
$
7,412

 
$
967

 
$
(4,068
)
 
$
4,311

Other comprehensive income (loss) before reclassifications
 
(4
)
 
2,178

 
7,367

 
9,541

Amounts reclassified from accumulated other comprehensive income(1)  
 
(14
)
 
5

 

 
(9
)
Net current period other comprehensive income (loss)
 
(18
)
 
2,183

 
7,367

 
9,532

March 31, 2018
 
$
7,394

 
$
3,150

 
$
3,299

 
$
13,843

 
 
 
 
 
 
 
 
 
 
(1) 
See the following table for details about these reclassifications. Amounts in parentheses indicate credits to profit/loss.
Reclassification out of Accumulated Other Comprehensive Income
The following table presents the reclassifications out of accumulated other comprehensive income for the three months ended March 31, 2019 and 2018:
Details about Accumulated Other Comprehensive Income (Loss) Components
 
Amounts Reclassified from Accumulated Other Comprehensive Income(a)
 
Affected Line Item in the Statements of Income
 
 
Three months ended
March 31,
 
 
 
 
2019
 
2018
 
 
Defined benefit and other postretirement plans
 
 
 
 
 
 
Amortization of prior service credit
 
$
(33
)
 
$
(19
)
 
(b)
Amortization of net (gain) loss
 
(8
)
 
2

 
(b)
 
 
(41
)
 
(17
)
 
Total before tax
 
 
10

 
3

 
Tax expense (benefit)
 
 
$
(31
)
 
$
(14
)
 
Net of tax
 
 
 
 
 
 
 
Net (gain) loss from hedging activities
 
 
 
 
 
 
Interest rate caps
 
$
123

 
$
35

 
Interest expense
Natural gas swaps
 
(191
)
 
(28
)
 
Cost of goods sold
 
 
(68
)
 
7

 
Total before tax
 
 
17

 
(2
)
 
Tax expense (benefit)
 
 
$
(51
)
 
$
5

 
Net of tax
 
 
 
 
 
 
 
Total reclassifications for the period
 
$
(82
)
 
$
(9
)
 
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).