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EQUITY (Tables)
 3 Months Ended
Mar. 31, 2016
Stockholders' Equity Note [Abstract]  
Schedule of changes in equity
Changes in equity for the three months ended March 31, 2016 are as follows:
 
Shareholders’
Equity
 
Non-controlling
Interests
 
Total Equity
Balance, December 31, 2015
$
931,587

 
$
861

 
$
932,448

Comprehensive income (loss):
 

 
 

 
 

Net income (loss)
53,638

 
(14
)
 
53,624

Other comprehensive income
26,688

 
15

 
26,703

Total comprehensive income
80,326

 
1

 
80,327

 
 
 
 
 
 
Cash dividends declared - $0.32 per share
(22,145
)
 
—

 
(22,145
)
Issuance of shares under benefit plans
4,527

 
—

 
4,527

Purchase of shares for treasury
(102,488
)
 
—

 
(102,488
)
Balance, March 31, 2016
$
891,807

 
$
862

 
$
892,669
Components of accumulated other comprehensive (loss) income
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 March 31, 2016 and 2015:
 
 
Three Months Ended March 31, 2016
 
 
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, 2015
 
$
548

 
$
(99,776
)
 
$
(197,039
)
 
$
(296,267
)
Other comprehensive income (loss)
before reclassification
 
1,699

 
(20
)
 
24,234

3 

25,913

Amounts reclassified from AOCI
 
(863
)
1 

1,638

2 

—

 
775

Net current-period other
comprehensive income (loss)
 
836

 
1,618

 
24,234

 
26,688

Balance at March 31, 2016
 
$
1,384

 
$
(98,158
)
 
$
(172,805
)
 
$
(269,579
)
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended March 31, 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
 
1,322

 
—

 
(56,011
)
3 

(54,689
)
Amounts reclassified from AOCI
 
(222
)
1 

3,538

2 

—

 
3,316

Net current-period other
comprehensive income (loss)
 
1,100

 
3,538

 
(56,011
)
 
(51,373
)
Balance at March 31, 2015
 
$
1,091

 
$
(194,355
)
 
$
(146,731
)
 
$
(339,995
)
 
 
 
 
 
 
 
 
 
1
During the 2016 period, this AOCI reclassification is a component of Net sales of $(787) (net of tax of $(278)) and Cost of goods sold of $(76) (net of tax of $22); during the 2015 period, the reclassification is a component of Net sales of $(529) (net of tax of $(249)) and Cost of goods sold of $307 (net of tax of $202). (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 $911 and $2,395 during the three months ended March 31, 2016 and 2015, respectively). (See Note 13 - Retirement and Postretirement Benefit Plans for additional details.)
3
The Other comprehensive income (loss) before reclassifications excludes $15 and $(541) attributable to Non-controlling interests in the three months ended March 31, 2016 and 2015, respectively.
The following tables set forth the total changes in AOCI by component, net of taxes for the three months ended March 31, 2016 and 2015:
 
 
Three Months Ended March 31, 2016
 
 
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, 2015
 
$
548

 
$
(99,776
)
 
$
(197,039
)
 
$
(296,267
)
Other comprehensive income (loss)
before reclassification
 
1,699

 
(20
)
 
24,234

3 

25,913

Amounts reclassified from AOCI
 
(863
)
1 

1,638

2 

—

 
775

Net current-period other
comprehensive income (loss)
 
836

 
1,618

 
24,234

 
26,688

Balance at March 31, 2016
 
$
1,384

 
$
(98,158
)
 
$
(172,805
)
 
$
(269,579
)
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended March 31, 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
 
1,322

 
—

 
(56,011
)
3 

(54,689
)
Amounts reclassified from AOCI
 
(222
)
1 

3,538

2 

—

 
3,316

Net current-period other
comprehensive income (loss)
 
1,100

 
3,538

 
(56,011
)
 
(51,373
)
Balance at March 31, 2015
 
$
1,091

 
$
(194,355
)
 
$
(146,731
)
 
$
(339,995
)
 
 
 
 
 
 
 
 
 
1
During the 2016 period, this AOCI reclassification is a component of Net sales of $(787) (net of tax of $(278)) and Cost of goods sold of $(76) (net of tax of $22); during the 2015 period, the reclassification is a component of Net sales of $(529) (net of tax of $(249)) and Cost of goods sold of $307 (net of tax of $202). (See Note 14 - Derivatives for additional details.)
2
This AOCI component is included in the computation of net periodic pension costs (net of tax of $911 and $2,395 during the three months ended March 31, 2016 and 2015, respectively). (See Note 12 - Retirement and Postretirement Benefit Plans for additional details.)
3
The Other comprehensive income (loss) before reclassifications excludes $15 and $(541) attributable to Non-controlling interests in the three months ended March 31, 2016 and 2015, respectively.