| Deferred Components of OCI Reported, Net of Related Income Taxes, in Accumulated OCI in Stockholders' Equity and Changes in Accumulated OCI |
The changes in accumulated OCI, net of related taxes, are as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended March 2018 |
(In thousands) |
Foreign Currency Translation and Other |
|
Defined Benefit Pension Plans |
|
Derivative Financial Instruments |
|
Total |
Balance, December 2017 |
$ |
(546,201 |
) |
|
$ |
(291,949 |
) |
|
$ |
(87,990 |
) |
|
$ |
(926,140 |
) |
Other comprehensive income (loss) before reclassifications |
69,332 |
|
|
(4,852 |
) |
|
(21,078 |
) |
|
43,402 |
|
Amounts reclassified from accumulated other comprehensive income (loss) |
— |
|
|
7,183 |
|
|
11,525 |
|
|
18,708 |
|
Net other comprehensive income (loss) |
69,332 |
|
|
2,331 |
|
|
(9,553 |
) |
|
62,110 |
|
Balance, March 2018 |
$ |
(476,869 |
) |
|
$ |
(289,618 |
) |
|
$ |
(97,543 |
) |
|
$ |
(864,030 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended March 2017 |
(In thousands) |
Foreign Currency Translation and Other |
|
Defined Benefit Pension Plans |
|
Derivative Financial Instruments |
|
Total |
Balance, December 2016 |
$ |
(794,579 |
) |
|
$ |
(302,697 |
) |
|
$ |
55,813 |
|
|
$ |
(1,041,463 |
) |
Other comprehensive income (loss) before reclassifications |
52,298 |
|
|
12,253 |
|
|
(7,534 |
) |
|
57,017 |
|
Amounts reclassified from accumulated other comprehensive income (loss) |
— |
|
|
8,723 |
|
|
(12,317 |
) |
|
(3,594 |
) |
Net other comprehensive income (loss) |
52,298 |
|
|
20,976 |
|
|
(19,851 |
) |
|
53,423 |
|
Balance, March 2017 |
$ |
(742,281 |
) |
|
$ |
(281,721 |
) |
|
$ |
35,962 |
|
|
$ |
(988,040 |
) |
The deferred components of OCI are reported, net of related income taxes, in accumulated OCI in stockholders’ equity, as follows:
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
(In thousands) |
|
March 2018 |
|
|
December 2017 |
|
March 2017 |
Foreign currency translation and other |
|
$ |
(476,869 |
) |
|
|
$ |
(546,201 |
) |
|
$ |
(742,281 |
) |
Defined benefit pension plans |
|
(289,618 |
) |
|
|
(291,949 |
) |
|
(281,721 |
) |
Derivative financial instruments |
|
(97,543 |
) |
|
|
(87,990 |
) |
|
35,962 |
|
Accumulated other comprehensive income (loss) |
|
$ |
(864,030 |
) |
|
|
$ |
(926,140 |
) |
|
$ |
(988,040 |
) |
|
| Reclassifications Out of Accumulated OCI |
Reclassifications out of accumulated OCI are as follows:
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|
|
|
|
|
|
|
|
|
|
|
|
|
| |
(In thousands)
Details About Accumulated Other Comprehensive Income (Loss) Components
|
Affected Line Item in the Consolidated Statements of Income |
|
|
Three Months Ended March |
| |
| |
|
|
2018 |
|
|
2017 |
| |
Amortization of defined benefit pension plans: |
|
|
|
|
|
|
| |
Net deferred actuarial losses |
(a) |
|
|
$ |
(8,548 |
) |
|
|
$ |
(11,382 |
) |
| |
Deferred prior service costs |
(a) |
|
|
(647 |
) |
|
|
(712 |
) |
| |
Pension curtailment loss |
Loss from discontinued operations, net of tax |
|
|
— |
|
|
|
(1,105 |
) |
| |
|
Total before tax |
|
|
(9,195 |
) |
|
|
(13,199 |
) |
| |
|
Tax benefit |
|
|
2,012 |
|
|
|
4,476 |
|
| |
|
Net of tax |
|
|
(7,183 |
) |
|
|
(8,723 |
) |
| |
Gains (losses) on derivative financial instruments: |
|
|
|
|
|
|
| |
Foreign exchange contracts |
Net sales |
|
|
4,948 |
|
|
|
6,413 |
|
| |
Foreign exchange contracts |
Cost of goods sold |
|
|
(13,286 |
) |
|
|
11,274 |
|
| |
Foreign exchange contracts |
Selling, general and administrative expenses |
|
|
(1,981 |
) |
|
|
(87 |
) |
| |
Foreign exchange contracts |
Other income (expense), net |
|
|
(2,427 |
) |
|
|
49 |
|
| |
Interest rate contracts |
Interest expense |
|
|
(1,214 |
) |
|
|
(1,158 |
) |
| |
|
Total before tax |
|
|
(13,960 |
) |
|
|
16,491 |
|
| |
|
Tax benefit (expense) |
|
|
2,435 |
|
|
|
(4,174 |
) |
| |
|
Net of tax |
|
|
(11,525 |
) |
|
|
12,317 |
|
| |
Total reclassifications for the period |
Net of tax |
|
|
$ |
(18,708 |
) |
|
|
$ |
3,594 |
|
|
|
(a) |
These accumulated OCI components are included in the computation of net periodic pension cost (refer to Note H for additional details). |
|