| Shares Held for Deferred Compensation Plans |
During the first quarter of 2017, the Company purchased 1,400 shares of Common Stock in open market transactions for $0.1 million. Balances related to shares held for deferred compensation plans were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
In thousands, except share amounts |
March 2017 |
|
December 2016 |
|
March 2016 |
Shares held for deferred compensation plans |
427,567 |
|
|
439,667 |
|
|
550,149 |
|
Cost of shares held for deferred compensation plans |
$ |
5,304 |
|
|
$ |
5,464 |
|
|
$ |
6,614 |
|
|
| 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 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 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended March 2016 |
In thousands |
Foreign Currency Translation and Other |
|
Defined Benefit Pension Plans |
|
Derivative Financial Instruments |
|
Total |
Balance, December 2015 |
$ |
(718,169 |
) |
|
$ |
(372,195 |
) |
|
$ |
47,142 |
|
|
$ |
(1,043,222 |
) |
Other comprehensive income (loss) before reclassifications |
115,279 |
|
|
— |
|
|
(9,698 |
) |
|
105,581 |
|
Amounts reclassified from accumulated other comprehensive income (loss) |
— |
|
|
10,884 |
|
|
(23,528 |
) |
|
(12,644 |
) |
Net other comprehensive income (loss) |
115,279 |
|
|
10,884 |
|
|
(33,226 |
) |
|
92,937 |
|
Balance, March 2016 |
$ |
(602,890 |
) |
|
$ |
(361,311 |
) |
|
$ |
13,916 |
|
|
$ |
(950,285 |
) |
The deferred components of OCI are reported, net of related income taxes, in accumulated OCI in stockholders’ equity, as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
In thousands |
March 2017 |
|
December 2016 |
|
March 2016 |
Foreign currency translation and other |
$ |
(742,281 |
) |
|
$ |
(794,579 |
) |
|
$ |
(602,890 |
) |
Defined benefit pension plans |
(281,721 |
) |
|
(302,697 |
) |
|
(361,311 |
) |
Derivative financial instruments |
35,962 |
|
|
55,813 |
|
|
13,916 |
|
Accumulated other comprehensive loss |
$ |
(988,040 |
) |
|
$ |
(1,041,463 |
) |
|
$ |
(950,285 |
) |
|
| Reclassifications Out of Accumulated OCI |
Reclassifications out of accumulated OCI are as follows:
|
|
|
|
|
|
|
|
|
|
|
|
In thousands |
|
Affected Line Item in the Consolidated Statements of Income |
|
Three Months Ended March |
Details About Accumulated Other Comprehensive Income (Loss) Components |
|
|
2017 |
|
2016 |
Amortization of defined benefit pension plans: |
|
|
|
|
Net deferred actuarial losses |
|
(a) |
|
$ |
(11,382 |
) |
|
$ |
(16,306 |
) |
Deferred prior service costs |
|
(a) |
|
(712 |
) |
|
(647 |
) |
Pension curtailment loss |
|
Income (loss) from discontinued operations, net of tax |
|
(1,105 |
) |
|
— |
|
|
|
Total before tax |
|
(13,199 |
) |
|
(16,953 |
) |
|
|
Tax benefit |
|
4,476 |
|
|
6,069 |
|
|
|
Net of tax |
|
(8,723 |
) |
|
(10,884 |
) |
Gains (losses) on derivative financial instruments: |
|
|
|
|
Foreign exchange contracts |
|
Net sales |
|
6,413 |
|
|
(4,963 |
) |
Foreign exchange contracts |
|
Cost of goods sold |
|
11,274 |
|
|
43,837 |
|
Foreign exchange contracts |
|
Selling, general and administrative expenses |
|
(87 |
) |
|
(978 |
) |
Foreign exchange contracts |
|
Other income (expense), net |
|
49 |
|
|
1,503 |
|
Interest rate contracts |
|
Interest expense |
|
(1,158 |
) |
|
(1,104 |
) |
|
|
Total before tax |
|
16,491 |
|
|
38,295 |
|
|
|
Tax expense |
|
(4,174 |
) |
|
(14,767 |
) |
|
|
Net of tax |
|
12,317 |
|
|
23,528 |
|
Total reclassifications for the period |
|
Net of tax |
|
$ |
3,594 |
|
|
$ |
12,644 |
|
|
|
(a) |
These accumulated OCI components are included in the computation of net periodic pension cost (refer to Note G for additional details). |
|