Quarterly report pursuant to Section 13 or 15(d)

Accumulated Other Comprehensive Income (Tables)

v3.19.3
Accumulated Other Comprehensive Income (Tables)
 9 Months Ended
Sep. 30, 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 and nine months ended September 30, 2019 and 2018:
 
 
Three months ended September 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)
 
$
(10
)
 
$
4

 
$
(6
)
 
$
(50
)
 
$
13

 
$
(37
)
Amortization of prior service cost
 
(63
)
 
10

 
(53
)
 
(19
)
 
4

 
(15
)
Benefit plans, net
 
(73
)
 
14

 
(59
)
 
(69
)
 
17

 
(52
)
Net (loss) gain from hedging activities
 
46

 
(11
)
 
35

 
494

 
(124
)
 
370

Foreign currency translation(1)
 
(10,020
)
 
(3,852
)
 
(13,872
)
 
3,391

 
1,795

 
5,186

Other comprehensive income (loss)
 
$
(10,047
)
 
$
(3,849
)
 
$
(13,896
)
 
$
3,816

 
$
1,688

 
$
5,504

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Nine months ended September 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)
 
$
(26
)
 
$
8

 
$
(18
)
 
$
1,798

 
$
(449
)
 
$
1,349

Amortization of prior service cost
 
(128
)
 
26

 
(102
)
 
(58
)
 
14

 
(44
)
Benefit plans, net
 
(154
)
 
34

 
(120
)
 
1,740

 
(435
)
 
1,305

Net (loss) gain from hedging activities
 
(3,579
)
 
895

 
(2,684
)
 
4,143

 
(1,037
)
 
3,106

Foreign currency translation(1)
 
4,731

 
(5,351
)
 
(620
)
 
(16,442
)
 
806

 
(15,636
)
Other comprehensive income (loss)
 
$
998

 
$
(4,422
)
 
$
(3,424
)
 
$
(10,559
)
 
$
(666
)
 
$
(11,225
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(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 nine months ended September 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 loss before reclassifications
 
(27
)
 
(3,163
)
 
(665
)
 
(3,855
)
Amounts reclassified from accumulated other comprehensive income(1)
 
(93
)
 
479

 
—

 
386

Net current period other comprehensive loss
 
(120
)
 
(2,684
)
 
(665
)
 
(3,469
)
Tax Cuts and Jobs Act, reclassification from AOCI to retained earnings
 
1,684

 
190

 
—

 
1,874

September 30, 2019
 
$
1,018

 
$
(1,857
)
 
$
(39,860
)
 
$
(40,699
)
 
 
 
 
 
 
 
 
 
December 31, 2017
 
$
7,412

 
$
967

 
$
(4,068
)
 
$
4,311

Other comprehensive income (loss) before reclassifications
 
1,360

 
2,906

 
(16,363
)
 
(12,097
)
Amounts reclassified from accumulated other comprehensive income(1)  
 
(55
)
 
200

 
—

 
145

Net current period other comprehensive income (loss)
 
1,305

 
3,106

 
(16,363
)
 
(11,952
)
September 30, 2018
 
$
8,717

 
$
4,073

 
$
(20,431
)
 
$
(7,641
)
 
 
 
 
 
 
 
 
 
 
(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 nine months ended September 30, 2019 and 2018:
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
September 30,
 
Nine months ended
September 30,
 
 
 
 
2019
 
2018
 
2019
 
2018
 
 
Amortization of defined benefit and other postretirement items:
 
 
 
 
 
 
 
 
 
 
Prior service credit (cost)
 
$
32

 
$
40

 
$
97

 
$
79

 
Other income (expense)(2)
Actuarial gains (losses)
 
8

 
(2
)
 
26

 
(5
)
 
Other income (expense)(2)
 
 
40

 
38

 
123

 
74

 
Total before tax
 
 
(10
)
 
(13
)
 
(30
)
 
(19
)
 
Tax expense
 
 
$
30

 
$
25

 
$
93

 
$
55

 
Net of tax
 
 
 
 
 
 
 
 
 
 
 
Gains and losses on cash flow hedges:
 
 
 
 
 
 
 
 
 
 
Interest rate caps
 
$
(157
)
 
$
(71
)
 
$
(449
)
 
$
(164
)
 
Interest expense
Natural gas swaps
 
(291
)
 
(30
)
 
(187
)
 
(101
)
 
Cost of goods sold
 
 
(448
)
 
(101
)
 
(636
)
 
(265
)
 
Total before tax
 
 
111

 
24

 
157

 
65

 
Tax benefit
 
 
$
(337
)
 
$
(77
)
 
$
(479
)
 
$
(200
)
 
Net of tax
 
 
 
 
 
 
 
 
 
 
 
Total reclassifications for the period
 
$
(307
)
 
$
(52
)
 
$
(386
)
 
$
(145
)
 
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).