| 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 September 2017 |
In thousands |
Foreign Currency Translation and Other |
|
Defined Benefit Pension Plans |
|
Derivative Financial Instruments |
|
Total |
Balance, June 2017 |
$ |
(633,209 |
) |
|
$ |
(275,089 |
) |
|
$ |
(22,299 |
) |
|
$ |
(930,597 |
) |
Other comprehensive income (loss) before reclassifications |
65,245 |
|
|
— |
|
|
(51,826 |
) |
|
13,419 |
|
Amounts reclassified from accumulated other comprehensive income (loss) |
— |
|
|
6,930 |
|
|
(4,648 |
) |
|
2,282 |
|
Net other comprehensive income (loss) |
65,245 |
|
|
6,930 |
|
|
(56,474 |
) |
|
15,701 |
|
Balance, September 2017 |
$ |
(567,964 |
) |
|
$ |
(268,159 |
) |
|
$ |
(78,773 |
) |
|
$ |
(914,896 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended September 2016 |
In thousands |
Foreign Currency Translation and Other |
|
Defined Benefit Pension Plans |
|
Derivative Financial Instruments |
|
Total |
Balance, June 2016 |
$ |
(675,213 |
) |
|
$ |
(351,298 |
) |
|
$ |
25,056 |
|
|
$ |
(1,001,455 |
) |
Other comprehensive income (loss) before reclassifications |
4,662 |
|
|
— |
|
|
5,896 |
|
|
10,558 |
|
Amounts reclassified from accumulated other comprehensive income (loss) |
— |
|
|
10,407 |
|
|
(17,530 |
) |
|
(7,123 |
) |
Net other comprehensive income (loss) |
4,662 |
|
|
10,407 |
|
|
(11,634 |
) |
|
3,435 |
|
Balance, September 2016 |
$ |
(670,551 |
) |
|
$ |
(340,891 |
) |
|
$ |
13,422 |
|
|
$ |
(998,020 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine Months Ended September 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 |
226,615 |
|
|
12,253 |
|
|
(107,836 |
) |
|
131,032 |
|
Amounts reclassified from accumulated other comprehensive income (loss) |
— |
|
|
22,285 |
|
|
(26,750 |
) |
|
(4,465 |
) |
Net other comprehensive income (loss) |
226,615 |
|
|
34,538 |
|
|
(134,586 |
) |
|
126,567 |
|
Balance, September 2017 |
$ |
(567,964 |
) |
|
$ |
(268,159 |
) |
|
$ |
(78,773 |
) |
|
$ |
(914,896 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine Months Ended September 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 |
47,618 |
|
|
— |
|
|
20,331 |
|
|
67,949 |
|
Amounts reclassified from accumulated other comprehensive income (loss) |
— |
|
|
31,304 |
|
|
(54,051 |
) |
|
(22,747 |
) |
Net other comprehensive income (loss) |
47,618 |
|
|
31,304 |
|
|
(33,720 |
) |
|
45,202 |
|
Balance, September 2016 |
$ |
(670,551 |
) |
|
$ |
(340,891 |
) |
|
$ |
13,422 |
|
|
$ |
(998,020 |
) |
The deferred components of OCI are reported, net of related income taxes, in accumulated OCI in stockholders’ equity, as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
In thousands |
September 2017 |
|
December 2016 |
|
September 2016 |
Foreign currency translation and other |
$ |
(567,964 |
) |
|
$ |
(794,579 |
) |
|
$ |
(670,551 |
) |
Defined benefit pension plans |
(268,159 |
) |
|
(302,697 |
) |
|
(340,891 |
) |
Derivative financial instruments |
(78,773 |
) |
|
55,813 |
|
|
13,422 |
|
Accumulated other comprehensive loss |
$ |
(914,896 |
) |
|
$ |
(1,041,463 |
) |
|
$ |
(998,020 |
) |
|
| Reclassifications Out of Accumulated OCI |
Reclassifications out of accumulated OCI are as follows:
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|
|
|
|
|
|
|
In thousands |
|
Affected Line Item in the Consolidated Statements of Income |
|
Three Months Ended September |
|
Nine Months Ended September |
Details About Accumulated Other Comprehensive Income (Loss) Components |
|
|
2017 |
|
2016 |
|
2017 |
|
2016 |
Amortization of defined benefit pension plans: |
|
|
|
|
|
|
|
|
Net deferred actuarial losses |
|
(a) |
|
$ |
(10,030 |
) |
|
$ |
(16,303 |
) |
|
$ |
(31,414 |
) |
|
$ |
(48,928 |
) |
Deferred prior service costs |
|
(a) |
|
(643 |
) |
|
(645 |
) |
|
(2,000 |
) |
|
(1,937 |
) |
Pension curtailment loss |
|
Income (loss) from discontinued operations, net of tax |
|
— |
|
|
— |
|
|
(1,105 |
) |
|
— |
|
|
|
Total before tax |
|
(10,673 |
) |
|
(16,948 |
) |
|
(34,519 |
) |
|
(50,865 |
) |
|
|
Tax benefit |
|
3,743 |
|
|
6,541 |
|
|
12,234 |
|
|
19,561 |
|
|
|
Net of tax |
|
(6,930 |
) |
|
(10,407 |
) |
|
(22,285 |
) |
|
(31,304 |
) |
Gains (losses) on derivative financial instruments: |
|
|
|
|
|
|
|
|
Foreign exchange contracts |
|
Net sales |
|
11,614 |
|
|
14,676 |
|
|
25,074 |
|
|
11,997 |
|
Foreign exchange contracts |
|
Cost of goods sold |
|
(4,164 |
) |
|
15,485 |
|
|
12,763 |
|
|
80,094 |
|
Foreign exchange contracts |
|
Selling, general and administrative expenses |
|
(882 |
) |
|
(1,098 |
) |
|
(1,212 |
) |
|
(3,611 |
) |
Foreign exchange contracts |
|
Other income (expense), net |
|
(774 |
) |
|
526 |
|
|
(688 |
) |
|
2,653 |
|
Interest rate contracts |
|
Interest expense |
|
(1,185 |
) |
|
(1,131 |
) |
|
(3,518 |
) |
|
(3,356 |
) |
|
|
Total before tax |
|
4,609 |
|
|
28,458 |
|
|
32,419 |
|
|
87,777 |
|
|
|
Tax benefit (expense) |
|
39 |
|
|
(10,928 |
) |
|
(5,669 |
) |
|
(33,726 |
) |
|
|
Net of tax |
|
4,648 |
|
|
17,530 |
|
|
26,750 |
|
|
54,051 |
|
Total reclassifications for the period |
|
Net of tax |
|
$ |
(2,282 |
) |
|
$ |
7,123 |
|
|
$ |
4,465 |
|
|
$ |
22,747 |
|
|
|
(a) |
These accumulated OCI components are included in the computation of net periodic pension cost (refer to Note H for additional details). |
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