ESSENDANT INC - 10-Q filing on 2016-07-21

Accumulated Other Comprehensive Income (Loss) (Tables)

6 Months Ended

Jun. 30, 2016

Change in Accumulated Other Comprehensive Income (Loss) (AOCI) by Component, Net of Tax

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	)

Amounts Reclassified Out of AOCI into Income Statement

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