| Accumulated Other Comprehensive Income (Loss) |
6. Accumulated Other Comprehensive Income (Loss)
The change in Accumulated Other Comprehensive Income (Loss) (“AOCI”) by component, net of tax, for the period ended June 30, 2016 was as follows (amounts in thousands):
|
|
|
Foreign Currency Translation |
|
|
Cash Flow Hedges |
|
|
Defined Benefit Pension Plans |
|
|
Total |
|
|
AOCI, balance as of December 31, 2015 |
|
$ |
(9,866 |
) |
|
$ |
146 |
|
|
$ |
(47,871 |
) |
|
$ |
(57,591 |
) |
|
Other comprehensive (loss) income before reclassifications |
|
|
3,133 |
|
|
|
(719 |
) |
|
|
(633 |
) |
|
|
1,781 |
|
|
Settlement loss reclassified from AOCI |
|
|
- |
|
|
|
- |
|
|
|
7,196 |
|
|
|
7,196 |
|
|
Amounts reclassified from AOCI |
|
|
- |
|
|
|
292 |
|
|
|
1,770 |
|
|
|
2,062 |
|
|
Net other comprehensive (loss) income |
|
|
3,133 |
|
|
|
(427 |
) |
|
|
8,333 |
|
|
|
11,039 |
|
|
AOCI, balance as of June 30, 2016 |
|
$ |
(6,733 |
) |
|
$ |
(281 |
) |
|
$ |
(39,538 |
) |
|
$ |
(46,552 |
) |
The following table details the amounts reclassified out of AOCI into the income statement during the three and six months ended June 30, 2016 (in thousands):
|
|
|
Amount Reclassified From AOCI |
|
|
|
|
|
|
For the Three |
|
|
For the Six |
|
|
|
|
|
|
Months Ended |
|
|
Months Ended |
|
|
|
|
|
|
June 30, |
|
|
June 30, |
|
|
Affected Line Item In The Statement |
|
Details About AOCI Components |
|
2016 |
|
|
2016 |
|
|
Where Net Income is Presented |
|
Realized and unrealized gains (losses) on cash flow hedges |
|
|
|
|
|
|
|
|
|
|
|
Gain on interest rate swap, before tax |
|
$ |
266 |
|
|
$ |
541 |
|
|
Interest expense, net |
|
Gain on foreign exchange hedges, before tax |
|
|
(159 |
) |
|
|
(70 |
) |
|
Cost of goods sold |
|
|
|
|
(41 |
) |
|
|
(179 |
) |
|
Tax provision |
|
|
|
$ |
66 |
|
|
$ |
292 |
|
|
Net of tax |
|
|
|
|
|
|
|
|
|
|
|
|
|
Defined benefit pension plan items |
|
|
|
|
|
|
|
|
|
|
|
Amortization of prior service cost and unrecognized loss |
|
$ |
1,395 |
|
|
$ |
2,888 |
|
|
Warehousing, marketing and administrative expenses |
|
Settlement loss |
|
|
11,744 |
|
|
|
11,744 |
|
|
Defined benefit plan settlement loss |
|
|
|
|
(5,093 |
) |
|
|
(5,666 |
) |
|
Tax provision |
|
|
|
|
8,046 |
|
|
|
8,966 |
|
|
Net of tax |
|
Total reclassifications for the period, net of tax |
|
$ |
8,112 |
|
|
$ |
9,258 |
|
|
|
|