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EQUITY (Tables) | 6 Months Ended
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Jun. 30, 2018
Stockholders' Equity Note [Abstract] |
Schedule of changes in equity | Changes in equity for the six months ended June 30, 2018 are as follows:
| Shareholders’ Equity |  | Non-controlling Interests |  | Total Equity
Balance at December 31, 2017 | $ | 931,637 |  |  | $ | 816 |  |  | $ | 932,453 |
Comprehensive income (loss): |  |  |  |  |  |  |  |
Net income | 129,688 |  |  | (9 | ) |  | 129,679 |
Other comprehensive income (loss) | (29,293 | ) |  | (31 | ) |  | (29,324 | )
Total comprehensive income (loss) | 100,395 |  |  | (40 | ) |  | 100,355 |
Cash dividends declared - $0.78 per share | (51,488 | ) |  | — |  |  | (51,488 | )
Issuance of shares under benefit plans | 12,420 |  |  | — |  |  | 12,420 |
Purchase of shares for treasury (1) | (50,232 | ) |  | — |  |  | (50,232 | )
Balance at June 30, 2018 | $ | 942,732 |  |  | $ | 776 |  |  | $ | 943,508 |
(1) | The Company's total common shares authorized to be repurchased under the current repurchase program is 55 million shares. As of June 30, 2018, there remained 7.9 million common shares available for repurchase under this program. The repurchased common shares remain in treasury and have not been retired.
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 June 30, 2018 and 2017:
|  | Three Months Ended June 30, 2018
|  | 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, 2018 |  | $ | 1,730 |  |  | $ | (83,990 | ) |  | $ | (143,456 | ) |  | $ | (225,716 | )
Other comprehensive income (loss) before reclassification |  | (1,241 | ) |  | — |  |  | (50,252 | ) | 3 |  | (51,493 | )
Amounts reclassified from AOCI |  | 9 |  | 1 |  | 721 |  | 2 |  | — |  |  | 730 |
Net current-period other comprehensive income (loss) |  | (1,232 | ) |  | 721 |  |  | (50,252 | ) |  | (50,763 | )
Balance at June 30, 2018 |  | $ | 498 |  |  | $ | (83,269 | ) |  | $ | (193,708 | ) |  | $ | (276,479 | )
|  | Three Months Ended June 30, 2017
|  | 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, 2017 |  | $ | 2,111 |  |  | $ | (95,225 | ) |  | $ | (205,174 | ) |  | $ | (298,288 | )
Other comprehensive income (loss) before reclassification |  | (1,276 | ) |  | — |  |  | 25,330 |  | 3 |  | 24,054 |
Amounts reclassified from AOCI |  | 999 |  | 1 |  | 712 |  | 2 |  | — |  |  | 1,711 |
Net current-period other comprehensive income (loss) |  | (277 | ) |  | 712 |  |  | 25,330 |  |  | 25,765 |
Balance at June 30, 2017 |  | $ | 1,834 |  |  | $ | (94,513 | ) |  | $ | (179,844 | ) |  | $ | (272,523 | )
(1) | During the 2018 period, this AOCI reclassification is a component of Net sales of $(23) (net of tax of $(14)) and Cost of goods sold of $(14) (net of tax of $(6)); during the 2017 period, the reclassification is a component of Net sales of $797 (net of tax of $291) and Cost of goods sold of $202 (net of tax of $70). See Note 15 to the consolidated financial statements for additional details.
(2) | This AOCI component is included in the computation of net periodic pension costs (net of tax of $218 and $149 during the three months ended June 30, 2018 and 2017, respectively). See Note 12 to the consolidated financial statements for additional details.
(3) | The Other comprehensive income (loss) before reclassifications excludes $(90) and $26 attributable to Non-controlling interests in the three months ended June 30, 2018 and 2017, respectively.
The following tables set forth the total changes in AOCI by component, net of taxes, for the six months ended June 30, 2018 and 2017:
|  | Six Months Ended June 30, 2018
|  | 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, 2017 |  | $ | 875 |  |  | $ | (85,277 | ) |  | $ | (162,784 | ) |  | $ | (247,186 | )
Other comprehensive income (loss) before reclassification |  | (231 | ) |  | — |  |  | (30,924 | ) | 3 |  | (31,155 | )
Amounts reclassified from AOCI |  | (146 | ) | 1 |  | 2,008 |  | 2 |  | — |  |  | 1,862 |
Net current-period other comprehensive income (loss) |  | (377 | ) |  | 2,008 |  |  | (30,924 | ) |  | (29,293 | )
Balance at June 30, 2018 |  | $ | 498 |  |  | $ | (83,269 | ) |  | $ | (193,708 | ) |  | $ | (276,479 | )
|  | Six Months Ended June 30, 2017
|  | 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, 2016 |  | $ | 587 |  |  | $ | (95,939 | ) |  | $ | (233,685 | ) |  | $ | (329,037 | )
Other comprehensive income (loss) before reclassification |  | 267 |  |  | — |  |  | 53,841 |  | 3 |  | 54,108 |
Amounts reclassified from AOCI |  | 980 |  | 1 |  | 1,426 |  | 2 |  | — |  |  | 2,406 |
Net current-period other comprehensive income (loss) |  | 1,247 |  |  | 1,426 |  |  | 53,841 |  |  | 56,514 |
Balance at June 30, 2017 |  | $ | 1,834 |  |  | $ | (94,513 | ) |  | $ | (179,844 | ) |  | $ | (272,523 | )
(1) | During the 2018 period, the AOCI reclassification is a component of Net sales of $112 (net of tax of $(6)) and Cost of goods sold of $(34) (net of tax of $(19)); during the 2017 period, the AOCI reclassification is a component of Net sales of $612 (net of tax of $204) and Cost of goods sold of $368 (net of tax of $181). See Note 15 to the consolidated financial statements for additional details.
(2) | The AOCI component is included in the computation of net periodic pension costs (net of tax of $649 and $362 during the six months ended June 30, 2018 and 2017, respectively). See Note 12 to the consolidated financial statements for additional details.
(3) | The Other comprehensive income (loss) before reclassifications excludes $(31) and $48 attributable to Non-controlling interests in the six months ended June 30, 2018 and 2017, respectively.

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