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EQUITY
 6 Months Ended
Jun. 30, 2015
Stockholders' Equity Note [Abstract]  
EQUITY
EQUITY
Changes in equity for the six months ended June 30, 2015 are as follows:
 
Shareholders’
Equity
 
Non-controlling
Interests
 
Total Equity
Balance, December 31, 2014
$
1,282,549

 
$
3,232

 
$
1,285,781

Comprehensive income (loss):
 

 
 

 
 

Net income (loss)
139,252

 
(58
)
 
139,194

Other comprehensive income (loss)
(33,258
)
 
(514
)
 
(33,772
)
Total comprehensive income (loss)
105,994

 
(572
)
 
105,422

 
 
 
 
 
 
Cash dividends declared - $0.58 per share
(43,613
)
 
—

 
(43,613
)
Issuance of shares under benefit plans
9,218

 
—

 
9,218

Purchase of shares for treasury
(158,468
)
 
—

 
(158,468
)
Transactions with non-controlling interests
—

 
(1,682
)
 
(1,682
)
Balance, June 30, 2015
$
1,195,680

 
$
978

 
$
1,196,658

Changes in equity for the six months ended June 30, 2014 are as follows:
 
Shareholders’
Equity
 
Non-controlling
Interests
 
Total Equity
Balance, December 31, 2013
$
1,526,602

 
$
4,086

 
$
1,530,688

Comprehensive income (loss):
 

 
 

 
 

Net income (loss)
133,785

 
(72
)
 
133,713

Other comprehensive income (loss)
3,550

 
705

 
4,255

Total comprehensive income (loss)
137,335

 
633

 
137,968

 
 
 
 
 
 
Cash dividends declared - $0.46 per share
(36,779
)
 
—

 
(36,779
)
Issuance of shares under benefit plans
11,195

 
—

 
11,195

Purchase of shares for treasury
(119,333
)
 
—

 
(119,333
)
Transactions with non-controlling interests
(1,484
)
 
(782
)
 
(2,266
)
Balance, June 30, 2014
$
1,517,536

 
$
3,937

 
$
1,521,473

The following tables set forth the total changes in accumulated other comprehensive (loss) income ("AOCI") by component, net of taxes for the three months ended June 30, 2015 and 2014:
 
 
Three Months Ended June 30, 2015
 
 
Unrealized gain (loss) on derivatives designated and qualifying as cash flow hedges
 
Defined benefit pension plan activity
 
Currency translation adjustment
 
Total
Balance at March 31, 2015
 
$
1,091

 
$
(194,355
)
 
$
(146,731
)
 
$
(339,995
)
Other comprehensive income (loss)
before reclassification
 
(893
)
 
—

 
15,123

3 

14,230

Amounts reclassified from AOCI
 
314

1 

3,571

2 

—


3,885

Net current-period other
comprehensive income (loss)
 
(579
)
 
3,571

 
15,123

 
18,115

Balance at June 30, 2015
 
$
512

 
$
(190,784
)
 
$
(131,608
)
 
$
(321,880
)
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended June 30, 2014
 
 
Unrealized gain (loss) on derivatives designated and qualifying as cash flow hedges
 
Defined benefit pension plan activity
 
Currency translation adjustment
 
Total
Balance at March 31, 2014
 
$
(52
)
 
$
(158,149
)
 
$
(4,656
)
 
$
(162,857
)
Other comprehensive income (loss)
before reclassification
 
(173
)
 
—

 
12,106

3 

11,933

Amounts reclassified from AOCI
 
(3
)
1 

2,536

2 

—

 
2,533

Net current-period other
comprehensive income (loss)
 
(176
)
 
2,536

 
12,106

 
14,466

Balance at June 30, 2014
 
$
(228
)
 
$
(155,613
)
 
$
7,450

 
$
(148,391
)
 
 
 
 
 
 
 
 
 
1
During the 2015 period, this AOCI reclassification is a component of Net sales of $8 (net of tax of $(75)) and Cost of goods sold of $306 (net of tax of $205); during the 2014 period, the reclassification is a component of Net sales of $(82) (net of tax of $(10)) and Cost of goods sold of $79 (net of tax of $19). (See Note 15 - Derivatives for additional details.)
2
This AOCI component is included in the computation of net periodic pension costs (net of tax of $1,975 and $1,423 during the three months ended June 30, 2015 and 2014, respectively). (See Note 13 - Retirement and Postretirement Benefit Plans for additional details.)
3
The Other comprehensive income before reclassifications excludes $27 and $24 attributable to Non-controlling interests in the three months ended June 30, 2015 and 2014, respectively.
The following tables set forth the total changes in AOCI by component, net of taxes for the six months ended June 30, 2015 and 2014:
 
 
Six Months Ended June 30, 2015
 
 
Unrealized gain (loss) on derivatives designated and qualifying as cash flow hedges
 
Defined benefit pension plan activity
 
Currency translation adjustment
 
Total
Balance at December 31, 2014
 
$
(9
)
 
$
(197,893
)
 
$
(90,720
)
 
$
(288,622
)
Other comprehensive income (loss)
before reclassification
 
429

 
—

 
(40,888
)
3 

(40,459
)
Amounts reclassified from AOCI
 
92

1 

7,109

2 

—


7,201

Net current-period other
comprehensive income (loss)
 
521

 
7,109

 
(40,888
)
 
(33,258
)
Balance at June 30, 2015
 
$
512

 
$
(190,784
)
 
$
(131,608
)
 
$
(321,880
)
 
 
 
 
 
 
 
 
 
 
 
Six months ended June 30, 2014
 
 
Unrealized gain (loss) on derivatives designated and qualifying as cash flow hedges
 
Defined benefit pension plan activity
 
Currency translation adjustment
 
Total
Balance at December 31, 2013
 
$
369

 
$
(160,693
)
 
$
8,383

 
$
(151,941
)
Other comprehensive income (loss)
before reclassification
 
(883
)
 
—

 
(933
)
3 

(1,816
)
Amounts reclassified from AOCI
 
286

1 

5,080

2 

—

 
5,366

Net current-period other
comprehensive income (loss)
 
(597
)
 
5,080

 
(933
)
 
3,550

Balance at June 30, 2014
 
$
(228
)
 
$
(155,613
)
 
$
7,450

 
$
(148,391
)
 
 
 
 
 
 
 
 
 
1
During the 2015 period, this AOCI reclassification is a component of Net sales of $(521) (net of tax of $(324)) and Cost of goods sold of $613 (net of tax of $407); during the 2014 period, the reclassification is a component of Net sales of $50 (net of tax of $10) and Cost of goods sold of $236 (net of tax of $105). (See Note 15 - Derivatives for additional details.)
2
This AOCI component is included in the computation of net periodic pension costs (net of tax of $4,370 and $3,261 during the six months ended June 30, 2015 and 2014, respectively). (See Note 13 - Retirement and Postretirement Benefit Plans for additional details.)
3
The Other comprehensive income before reclassifications excludes $(514) and $705 attributable to Non-controlling interests in the six months ended June 30, 2015 and 2014, respectively.