| 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:
|
|
|
|
|
|
|
|
|
|
|
|
|
In thousands |
June 2017 |
|
December 2016 |
|
June 2016 |
Foreign currency translation and other |
$ |
(633,209 |
) |
|
$ |
(794,579 |
) |
|
$ |
(675,213 |
) |
Defined benefit pension plans |
(275,089 |
) |
|
(302,697 |
) |
|
(351,298 |
) |
Derivative financial instruments |
(22,299 |
) |
|
55,813 |
|
|
25,056 |
|
Accumulated other comprehensive loss |
$ |
(930,597 |
) |
|
$ |
(1,041,463 |
) |
|
$ |
(1,001,455 |
) |
The changes in accumulated OCI, net of related taxes, are as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended June 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 |
109,072 |
|
|
— |
|
|
(48,476 |
) |
|
60,596 |
|
Amounts reclassified from accumulated other comprehensive income (loss) |
— |
|
|
6,632 |
|
|
(9,785 |
) |
|
(3,153 |
) |
Net other comprehensive income (loss) |
109,072 |
|
|
6,632 |
|
|
(58,261 |
) |
|
57,443 |
|
Balance, June 2017 |
$ |
(633,209 |
) |
|
$ |
(275,089 |
) |
|
$ |
(22,299 |
) |
|
$ |
(930,597 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended June 2016 |
In thousands |
Foreign Currency Translation and Other |
|
Defined Benefit Pension Plans |
|
Derivative Financial Instruments |
|
Total |
Balance, March 2016 |
$ |
(602,890 |
) |
|
$ |
(361,311 |
) |
|
$ |
13,916 |
|
|
$ |
(950,285 |
) |
Other comprehensive income (loss) before reclassifications |
(72,323 |
) |
|
— |
|
|
24,133 |
|
|
(48,190 |
) |
Amounts reclassified from accumulated other comprehensive income (loss) |
— |
|
|
10,013 |
|
|
(12,993 |
) |
|
(2,980 |
) |
Net other comprehensive income (loss) |
(72,323 |
) |
|
10,013 |
|
|
11,140 |
|
|
(51,170 |
) |
Balance, June 2016 |
$ |
(675,213 |
) |
|
$ |
(351,298 |
) |
|
$ |
25,056 |
|
|
$ |
(1,001,455 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six Months Ended June 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 |
161,370 |
|
|
12,253 |
|
|
(56,010 |
) |
|
117,613 |
|
Amounts reclassified from accumulated other comprehensive income (loss) |
— |
|
|
15,355 |
|
|
(22,102 |
) |
|
(6,747 |
) |
Net other comprehensive income (loss) |
161,370 |
|
|
27,608 |
|
|
(78,112 |
) |
|
110,866 |
|
Balance, June 2017 |
$ |
(633,209 |
) |
|
$ |
(275,089 |
) |
|
$ |
(22,299 |
) |
|
$ |
(930,597 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six Months Ended June 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 |
42,956 |
|
|
— |
|
|
14,435 |
|
|
57,391 |
|
Amounts reclassified from accumulated other comprehensive income (loss) |
— |
|
|
20,897 |
|
|
(36,521 |
) |
|
(15,624 |
) |
Net other comprehensive income (loss) |
42,956 |
|
|
20,897 |
|
|
(22,086 |
) |
|
41,767 |
|
Balance, June 2016 |
$ |
(675,213 |
) |
|
$ |
(351,298 |
) |
|
$ |
25,056 |
|
|
$ |
(1,001,455 |
) |
|
| 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 June |
|
Six Months Ended June |
Details About Accumulated Other Comprehensive Income (Loss) Components |
|
|
2017 |
|
2016 |
|
2017 |
|
2016 |
Amortization of defined benefit pension plans: |
|
|
|
|
|
|
|
|
Net deferred actuarial losses |
|
(a) |
|
$ |
(10,002 |
) |
|
$ |
(16,319 |
) |
|
$ |
(21,384 |
) |
|
$ |
(32,625 |
) |
Deferred prior service costs |
|
(a) |
|
(645 |
) |
|
(645 |
) |
|
(1,357 |
) |
|
(1,292 |
) |
Pension curtailment loss |
|
Loss from discontinued operations, net of tax |
|
— |
|
|
— |
|
|
(1,105 |
) |
|
— |
|
|
|
Total before tax |
|
(10,647 |
) |
|
(16,964 |
) |
|
(23,846 |
) |
|
(33,917 |
) |
|
|
Tax benefit |
|
4,015 |
|
|
6,951 |
|
|
8,491 |
|
|
13,020 |
|
|
|
Net of tax |
|
(6,632 |
) |
|
(10,013 |
) |
|
(15,355 |
) |
|
(20,897 |
) |
Gains (losses) on derivative financial instruments: |
|
|
|
|
|
|
|
|
Foreign exchange contracts |
|
Net sales |
|
7,047 |
|
|
2,284 |
|
|
13,460 |
|
|
(2,679 |
) |
Foreign exchange contracts |
|
Cost of goods sold |
|
5,653 |
|
|
20,772 |
|
|
16,927 |
|
|
64,609 |
|
Foreign exchange contracts |
|
Selling, general and administrative expenses |
|
(243 |
) |
|
(1,535 |
) |
|
(330 |
) |
|
(2,513 |
) |
Foreign exchange contracts |
|
Other income (expense), net |
|
37 |
|
|
624 |
|
|
86 |
|
|
2,127 |
|
Interest rate contracts |
|
Interest expense |
|
(1,175 |
) |
|
(1,121 |
) |
|
(2,333 |
) |
|
(2,225 |
) |
|
|
Total before tax |
|
11,319 |
|
|
21,024 |
|
|
27,810 |
|
|
59,319 |
|
|
|
Tax expense |
|
(1,534 |
) |
|
(8,031 |
) |
|
(5,708 |
) |
|
(22,798 |
) |
|
|
Net of tax |
|
9,785 |
|
|
12,993 |
|
|
22,102 |
|
|
36,521 |
|
Total reclassifications for the period |
|
Net of tax |
|
$ |
3,153 |
|
|
$ |
2,980 |
|
|
$ |
6,747 |
|
|
$ |
15,624 |
|
|
|
(a) |
These accumulated OCI components are included in the computation of net periodic pension cost (refer to Note G for additional details). |
|