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EQUITY | 9 Months Ended
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Sep. 30, 2015
Stockholders' Equity Note [Abstract] |
EQUITY | EQUITY Changes in equity for the nine months ended September 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) | 78,786 |  |  | (73 | ) |  | 78,713 |
Other comprehensive income (loss) | 149 |  |  | (590 | ) |  | (441 | )
Total comprehensive income (loss) | 78,935 |  |  | (663 | ) |  | 78,272 |
Cash dividends declared - $0.87 per share | (64,626 | ) |  | — |  |  | (64,626 | )
Issuance of shares under benefit plans | 12,028 |  |  | — |  |  | 12,028 |
Purchase of shares for treasury | (297,804 | ) |  | — |  |  | (297,804 | )
Transactions with non-controlling interests | — |  |  | (1,682 | ) |  | (1,682 | )
Balance, September 30, 2015 | $ | 1,011,082 |  |  | $ | 887 |  |  | $ | 1,011,969 |
Changes in equity for the nine months ended September 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) | 179,474 |  |  | (929 | ) |  | 178,545 |
Other comprehensive income (loss) | (42,838 | ) |  | 765 |  |  | (42,073 | )
Total comprehensive income (loss) | 136,636 |  |  | (164 | ) |  | 136,472 |
Cash dividends declared - $0.69 per share | (54,646 | ) |  | — |  |  | (54,646 | )
Issuance of shares under benefit plans | 15,634 |  |  | — |  |  | 15,634 |
Purchase of shares for treasury | (249,403 | ) |  | — |  |  | (249,403 | )
Transactions with non-controlling interests | (1,484 | ) |  | (782 | ) |  | (2,266 | )
Balance, September 30, 2014 | $ | 1,373,339 |  |  | $ | 3,140 |  |  | $ | 1,376,479 |
The following tables set forth the total changes in accumulated other comprehensive income (loss) ("AOCI") by component, net of taxes for the three months ended September 30, 2015 and 2014:
|  | Three Months Ended September 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 June 30, 2015 |  | $ | 512 |  |  | $ | (190,784 | ) |  | $ | (131,608 | ) |  | $ | (321,880 | )
Other comprehensive income (loss) before reclassification |  | (51 | ) |  | — |  |  | (47,149 | ) | 3 |  | (47,200 | )
Amounts reclassified from AOCI |  | (159 | ) | 1 |  | 80,766 |  | 2 |  | — |  |  | 80,607 |
Net current-period other comprehensive income (loss) |  | (210 | ) |  | 80,766 |  |  | (47,149 | ) |  | 33,407 |
Balance at September 30, 2015 |  | $ | 302 |  |  | $ | (110,018 | ) |  | $ | (178,757 | ) |  | $ | (288,473 | )
|  | Three Months Ended September 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 June 30, 2014 |  | $ | (228 | ) |  | $ | (155,613 | ) |  | $ | 7,450 |  |  | $ | (148,391 | )
Other comprehensive income (loss) before reclassification |  | 397 |  |  | — |  |  | (49,610 | ) | 3 |  | (49,213 | )
Amounts reclassified from AOCI |  | (84 | ) | 1 |  | 2,909 |  | 2 |  | — |  |  | 2,825 |
Net current-period other comprehensive income (loss) |  | 313 |  |  | 2,909 |  |  | (49,610 | ) |  | (46,388 | )
Balance at September 30, 2014 |  | $ | 85 |  |  | $ | (152,704 | ) |  | $ | (42,160 | ) |  | $ | (194,779 | )
1 | During the 2015 period, this AOCI reclassification is a component of Net sales of $(279) (net of tax of $(105)) and Cost of goods sold of $120 (net of tax of $90); during the 2014 period, the reclassification is a component of Net sales of $(23) (net of tax of $(20)) and Cost of goods sold of $(61) (net of tax of $(42)). (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 $50,079 and $1,974 during the three months ended September 30, 2015 and 2014, respectively). (See Note 13 - Retirement and Postretirement Benefit Plans for additional details.)
3 | The Other comprehensive income (loss) before reclassifications excludes $(76) and $60 attributable to Non-controlling interests in the three months ended September 30, 2015 and 2014, respectively.
The following tables set forth the total changes in AOCI by component, net of taxes for the nine months ended September 30, 2015 and 2014:
|  | Nine Months Ended September 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 |  | 378 |  |  | — |  |  | (88,037 | ) | 3 |  | (87,659 | )
Amounts reclassified from AOCI |  | (67 | ) | 1 |  | 87,875 |  | 2 |  | — |  |  | 87,808 |
Net current-period other comprehensive income (loss) |  | 311 |  |  | 87,875 |  |  | (88,037 | ) |  | 149 |
Balance at September 30, 2015 |  | $ | 302 |  |  | $ | (110,018 | ) |  | $ | (178,757 | ) |  | $ | (288,473 | )
|  | Nine Months Ended September 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 |  | (486 | ) |  | — |  |  | (50,543 | ) | 3 |  | (51,029 | )
Amounts reclassified from AOCI |  | 202 |  | 1 |  | 7,989 |  | 2 |  | — |  |  | 8,191 |
Net current-period other comprehensive income (loss) |  | (284 | ) |  | 7,989 |  |  | (50,543 | ) |  | (42,838 | )
Balance at September 30, 2014 |  | $ | 85 |  |  | $ | (152,704 | ) |  | $ | (42,160 | ) |  | $ | (194,779 | )
1 | During the 2015 period, this AOCI reclassification is a component of Net sales of $(800) (net of tax of $(429)) and Cost of goods sold of $733 (net of tax of $497); during the 2014 period, the reclassification is a component of Net sales of $27 (net of tax of $(10)) and Cost of goods sold of $175 (net of tax of $63). (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 $54,449 and $5,235 during the nine months ended September 30, 2015 and 2014, respectively). (See Note 13 - Retirement and Postretirement Benefit Plans for additional details.)
3 | The Other comprehensive income (loss) before reclassifications excludes $(590) and $765 attributable to Non-controlling interests in the nine months ended September 30, 2015 and 2014, respectively.

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