| Deferred Components of OCI Reported, Net of Related Income Taxes, in Accumulated OCI in Stockholders' Equity and Changes in Accumulated OCI |
The deferred components of OCI are reported, net of related income taxes, in accumulated OCI in stockholders’ equity, as follows:
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|
|
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|
(In thousands) |
|
December 2018 |
|
|
March 2018 |
|
December 2017 |
Foreign currency translation and other |
|
$ |
(737,127 |
) |
|
|
$ |
(476,869 |
) |
|
$ |
(546,201 |
) |
Defined benefit pension plans |
|
(219,644 |
) |
|
|
(289,618 |
) |
|
(291,949 |
) |
Derivative financial instruments |
|
70,206 |
|
|
|
(97,543 |
) |
|
(87,990 |
) |
Accumulated other comprehensive income (loss) |
|
$ |
(886,565 |
) |
|
|
$ |
(864,030 |
) |
|
$ |
(926,140 |
) |
The changes in accumulated OCI, net of related taxes, were as follows:
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Three Months Ended December 2018 |
|
(In thousands) |
Foreign Currency Translation and Other |
|
Defined Benefit Pension Plans |
|
Derivative Financial Instruments |
|
Total |
|
Balance, September 2018 |
$ |
(665,962 |
) |
|
$ |
(226,039 |
) |
|
$ |
29,085 |
|
|
$ |
(862,916 |
) |
|
Other comprehensive income (loss) before reclassifications |
(71,165 |
) |
|
1,065 |
|
|
36,619 |
|
|
(33,481 |
) |
|
Amounts reclassified from accumulated other comprehensive income (loss) |
— |
|
|
5,330 |
|
|
4,502 |
|
|
9,832 |
|
|
Net other comprehensive income (loss) |
(71,165 |
) |
|
6,395 |
|
|
41,121 |
|
|
(23,649 |
) |
|
Balance, December 2018 |
$ |
(737,127 |
) |
|
$ |
(219,644 |
) |
|
$ |
70,206 |
|
|
$ |
(886,565 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended December 2017 |
|
(In thousands) |
Foreign Currency Translation and Other |
|
Defined Benefit Pension Plans |
|
Derivative Financial Instruments |
|
Total |
|
Balance, September 2017 |
$ |
(567,964 |
) |
|
$ |
(268,159 |
) |
|
$ |
(78,773 |
) |
|
$ |
(914,896 |
) |
|
Other comprehensive income (loss) before reclassifications |
21,763 |
|
|
(30,223 |
) |
|
(15,244 |
) |
|
(23,704 |
) |
|
Amounts reclassified from accumulated other comprehensive income (loss) |
— |
|
|
6,433 |
|
|
6,027 |
|
|
12,460 |
|
|
Net other comprehensive income (loss) |
21,763 |
|
|
(23,790 |
) |
|
(9,217 |
) |
|
(11,244 |
) |
|
Balance, December 2017 |
$ |
(546,201 |
) |
|
$ |
(291,949 |
) |
|
$ |
(87,990 |
) |
|
$ |
(926,140 |
) |
|
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|
|
|
|
|
|
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|
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|
|
|
|
Nine Months Ended December 2018 |
|
(In thousands) |
Foreign Currency Translation and Other |
|
Defined Benefit Pension Plans |
|
Derivative Financial Instruments |
|
Total |
|
Balance, March 2018 |
$ |
(476,869 |
) |
|
$ |
(289,618 |
) |
|
$ |
(97,543 |
) |
|
$ |
(864,030 |
) |
|
Other comprehensive income (loss) before reclassifications |
(260,258 |
) |
|
39,877 |
|
|
135,041 |
|
|
(85,340 |
) |
|
Amounts reclassified from accumulated other comprehensive income (loss) |
— |
|
|
30,097 |
|
|
32,708 |
|
|
62,805 |
|
|
Net other comprehensive income (loss) |
(260,258 |
) |
|
69,974 |
|
|
167,749 |
|
|
(22,535 |
) |
|
Balance, December 2018 |
$ |
(737,127 |
) |
|
$ |
(219,644 |
) |
|
$ |
70,206 |
|
|
$ |
(886,565 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine Months Ended December 2017 |
|
(In thousands) |
Foreign Currency Translation and Other |
|
Defined Benefit Pension Plans |
|
Derivative Financial Instruments |
|
Total |
|
Balance, March 2017 |
$ |
(742,281 |
) |
|
$ |
(281,721 |
) |
|
$ |
35,962 |
|
|
$ |
(988,040 |
) |
|
Other comprehensive income (loss) before reclassifications |
196,080 |
|
|
(30,223 |
) |
|
(115,546 |
) |
|
50,311 |
|
|
Amounts reclassified from accumulated other comprehensive income (loss) |
— |
|
|
19,995 |
|
|
(8,406 |
) |
|
11,589 |
|
|
Net other comprehensive income (loss) |
196,080 |
|
|
(10,228 |
) |
|
(123,952 |
) |
|
61,900 |
|
|
Balance, December 2017 |
$ |
(546,201 |
) |
|
$ |
(291,949 |
) |
|
$ |
(87,990 |
) |
|
$ |
(926,140 |
) |
|
|
| 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 |
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|
Three Months Ended December |
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|
Nine Months Ended December |
| |
| |
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| |
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2018 |
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2017 |
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2018 |
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|
2017 |
| |
Amortization of defined benefit pension plans: |
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|
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| |
Net deferred actuarial losses |
Other income (expense), net |
|
|
$ |
(6,676 |
) |
|
|
$ |
(10,026 |
) |
|
|
$ |
(22,153 |
) |
|
|
$ |
(30,058 |
) |
| |
Deferred prior service (costs) credits |
Other income (expense), net |
|
|
58 |
|
|
|
(646 |
) |
|
|
(552 |
) |
|
|
(1,934 |
) |
| |
Pension curtailment losses and settlement charges |
Other income (expense), net |
|
|
(662 |
) |
|
|
(566 |
) |
|
|
(18,329 |
) |
|
|
(566 |
) |
| |
Total before tax |
|
|
|
(7,280 |
) |
|
|
(11,238 |
) |
|
|
(41,034 |
) |
|
|
(32,558 |
) |
| |
Tax benefit |
|
|
|
1,950 |
|
|
|
4,805 |
|
|
|
10,937 |
|
|
|
12,563 |
|
| |
Net of tax |
|
|
|
(5,330 |
) |
|
|
(6,433 |
) |
|
|
(30,097 |
) |
|
|
(19,995 |
) |
| |
Gains (losses) on derivative financial instruments: |
|
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|
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|
|
|
|
|
|
|
| |
Foreign exchange contracts |
Net sales |
|
|
772 |
|
|
|
8,567 |
|
|
|
6,244 |
|
|
|
27,228 |
|
| |
Foreign exchange contracts |
Cost of goods sold |
|
|
(4,570 |
) |
|
|
(12,153 |
) |
|
|
(31,146 |
) |
|
|
(10,664 |
) |
| |
Foreign exchange contracts |
Selling, general and administrative expenses |
|
|
(1,020 |
) |
|
|
(2,398 |
) |
|
|
(5,240 |
) |
|
|
(3,523 |
) |
| |
Foreign exchange contracts |
Other income (expense), net |
|
|
690 |
|
|
|
(1,163 |
) |
|
|
(1,673 |
) |
|
|
(1,900 |
) |
| |
Interest rate contracts |
Interest expense |
|
|
(1,263 |
) |
|
|
(1,205 |
) |
|
|
(3,739 |
) |
|
|
(3,565 |
) |
| |
Total before tax |
|
|
|
(5,391 |
) |
|
|
(8,352 |
) |
|
|
(35,554 |
) |
|
|
7,576 |
|
| |
Tax benefit |
|
|
|
889 |
|
|
|
2,325 |
|
|
|
2,846 |
|
|
|
830 |
|
| |
Net of tax |
|
|
|
(4,502 |
) |
|
|
(6,027 |
) |
|
|
(32,708 |
) |
|
|
8,406 |
|
| |
Total reclassifications for the period, net of tax |
|
|
$ |
(9,832 |
) |
|
|
$ |
(12,460 |
) |
|
|
$ |
(62,805 |
) |
|
|
$ |
(11,589 |
) |
|