Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity (Tables)

v3.20.2
Stockholders' Equity (Tables)
 6 Months Ended
Jun. 30, 2020
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 and six months ended June 30, 2020 and 2019:
Three months ended June 30,
2020 2019
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) $ 21    $ (8)   $ 13    $ (8)   $ 2    $ (6)  
Amortization of prior service cost (40)   14    (26)   (33)   8    (25)  
Benefit plans, net (19)   6    (13)   (41)   10    (31)  
Net (loss) gain from hedging activities 660    (165)   495    (1,556)   389    (1,167)  
Foreign currency translation(1)
13,153    (1,214)   11,939    5,469    616    6,085   
Other comprehensive income (loss) $ 13,794    $ (1,373)   $ 12,421    $ 3,872    $ 1,015    $ 4,887   
Six months ended June 30,
2020 2019
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) $ 65    $ (16)   $ 49    $ (16)   $ 4    $ (12)  
Amortization of prior service cost (104)   27    (77)   (65)   16    (49)  
Benefit plans, net (39)   11    (28)   (81)   20    (61)  
Net (loss) gain from hedging activities (45)   11    (34)   (3,625)   906    (2,719)  
Foreign currency translation(1)
(36,904)   2,488    (34,416)   14,751    (1,499)   13,252   
Other comprehensive income (loss) $ (36,988)   $ 2,510    $ (34,478)   $ 11,045    $ (573)   $ 10,472   

(1)The income tax benefit or expense included in other comprehensive income is attributed to the portion of foreign currency translation associated with the Company’s cross-currency interest rate swaps, for which the tax effect is based on the applicable U.S. deferred income tax rate. See Note 14 to these condensed consolidated financial statements for information regarding the Company’s cross-currency interest rate swaps.
The following table presents the changes in accumulated other comprehensive income (loss), net of tax, by component for the six months ended June 30, 2020 and 2019:
Defined benefit
and other
postretirement
plans 		 Net gain (loss)
from hedging
activities		 Foreign
currency
translation 		 Total 
December 31, 2019 $ 3,568    $ (1,838)   $ (17,078)   $ (15,348)  
Other comprehensive loss before reclassifications (1)   (1,091)   (31,304)   (32,396)  
Amounts reclassified from accumulated other comprehensive income(1)
(27)   1,057    —    1,030   
June 30, 2020 $ 3,540    $ (1,872)   $ (48,382)   $ (46,714)  
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)  

(1)See the following table for details about these reclassifications. Amounts in parentheses indicate debits.
Reclassification out of Accumulated Other Comprehensive Income The following table presents the reclassifications out of accumulated other comprehensive income for the three and six months ended June 30, 2020 and 2019:
Details about Accumulated Other Comprehensive
Income Components
Amounts Reclassified from Accumulated Other
Comprehensive Income(1)
Affected Line Item where
Income is Presented
Three months ended
June 30,		 Six months ended
June 30,
2020 2019 2020 2019
Amortization of defined benefit and other postretirement items:
Prior service credit (cost) $ 58    $ 33    $ 104    $ 65   
Other income (expense)(2)
Actuarial gains (losses) (34)   9    (68)   18   
Other income (expense)(2)
24    42    36    83    Total before tax
(4)   (10)   (9)   (20)   Tax expense
$ 20    $ 32    $ 27    $ 63    Net of tax
Gains and losses on cash flow hedges:
Interest rate caps $ (398)   $ (169)   $ (629)   $ (292)   Interest expense
Natural gas swaps (402)   (87)   (775)   104    Cost of goods sold
(800)   (256)   (1,404)   (188)   Total before tax
198    63    347    46    Tax benefit
$ (602)   $ (193)   $ (1,057)   $ (142)   Net of tax
Total reclassifications for the period $ (582)   $ (161)   $ (1,030)   $ (79)   Net of tax

(1)Amounts in parentheses indicate debits to profit/loss.
(2)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).