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ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME (Tables)
 12 Months Ended
Dec. 31, 2014
ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME  
Components of accumulated other comprehensive loss
The following tables set forth the total changes in AOCI by component, net of taxes, for the years ended December 31, 2014 and 2013:
 
 
Unrealized (loss) gain on derivatives designated and qualifying as cash flow hedges
 
Defined benefit pension plan activity
 
Currency translation adjustment
 
Total
Balance at December 31, 2012
 
$
80

 
$
(261,844
)
 
$
26,364

 
$
(235,400
)
Other comprehensive income (loss) before reclassification
 
(681
)
 
82,050

2 
(17,981
)
3 
63,388

Amounts reclassified from AOCI
 
970

1 
19,101

2 
—

 
20,071

Net current-period other comprehensive income (loss)
 
289

 
101,151

 
(17,981
)
 
83,459

Balance at December 31, 2013
 
$
369

 
$
(160,693
)
 
$
8,383

 
$
(151,941
)
Other comprehensive income (loss) before reclassification
 
(720
)
 
(48,803
)
2 
(99,103
)
3 
(148,626
)
Amounts reclassified from AOCI
 
342

1 
11,603

2 
—

 
11,945

Net current-period other comprehensive income (loss)
 
(378
)
 
(37,200
)
 
(99,103
)
 
(136,681
)
Balance at December 31, 2014
 
$
(9
)
 
$
(197,893
)
 
$
(90,720
)
 
$
(288,622
)
 
 
 
 
 
 
 
 
 
_______________________________________________________________________________
1
During 2014, this AOCI reclassification is a component of Net sales of $(80) (net of tax of $(65)) and Cost of goods sold of $422 (net of tax of $205); during 2013, the reclassification is a component of Net sales of $619 (net of tax of $99), Cost of goods sold of $418 (net of tax of $295) and SG&A of $(67) with no tax effect. (See Note 13 - Derivatives for additional details.)
2
This AOCI component is included in the computation of net periodic pension costs (net of tax of $(20,951) and $60,556 during the years ended December 31, 2014 and 2013, respectively). (See Note 11 - Retirement and Postretirement Benefit Plans for additional details.)
3
The Other comprehensive income before reclassifications excludes $734 and $(1,819) attributable to Non-controlling interests in the years ended December 31, 2014 and 2013, respectively. The reclassified AOCI component is included in the computation of Non-controlling interests. (See Consolidated Statements of Equity for additional details.)