Accumulated Other Comprehensive Income (Loss)

6 Months Ended

Jun. 30, 2019

Accumulated Other Comprehensive Income (Loss)

22.Accumulated Other Comprehensive Income (Loss)

Accumulated other comprehensive income (loss) (“AOCI(L)”) is comprised of adjustments relative to the Company’s pension and postretirement medical benefit plans and foreign currency translation adjustments required for a subsidiary of the Company that performs data analysis and provides consulting services outside the United States.

A summary of AOCI(L) for the second quarter of 2019 and the second quarter of 2018 is as follows:

(in thousands)	March 31, 2019			Pre-tax Activity			Tax Effect			June 30, 2019
Net pension activity:
Actuarial loss	$	(72,011	)	$	900		$	(221	)	$	(71,332	)
Prior service costs		(20	)		7			(2	)		(15	)
Net postretirement benefits activity:
Actuarial loss		(4,754	)		195			(48	)		(4,607	)
Prior service costs		107			(322	)		79			(136	)
Foreign currency translation adjustment		(9	)		7			(2	)		(4	)
Reclassification of stranded tax effects		(19,720	)		-			-			(19,720	)
Total	$	(96,407	)	$	787		$	(194	)	$	(95,814	)

(in thousands)	April 1, 2018			Pre-tax Activity			Tax Effect			July 1, 2018
Net pension activity:
Actuarial loss	$	(77,915	)	$	933		$	(230	)	$	(77,212	)
Prior service costs		(39	)		6			(1	)		(34	)
Net postretirement benefits activity:
Actuarial loss		(16,922	)		499			(124	)		(16,547	)
Prior service costs		1,396			(462	)		114			1,048
Foreign currency translation adjustment		17			(12	)		3			8
Total	$	(93,463	)	$	964		$	(238	)	$	(92,737	)

A summary of AOCI(L) for the first half of 2019 and the first half of 2018 is as follows:

(in thousands)	December 30, 2018			Pre-tax Activity			Tax Effect			June 30, 2019
Net pension activity:
Actuarial loss	$	(72,690	)	$	1,801		$	(443	)	$	(71,332	)
Prior service costs		(24	)		12			(3	)		(15	)
Net postretirement benefits activity:
Actuarial loss		(4,902	)		391			(96	)		(4,607	)
Prior service costs		351			(646	)		159			(136	)
Foreign currency translation adjustment		-			(3	)		(1	)		(4	)
Reclassification of stranded tax effects		-			-			(19,720	)		(19,720	)
Total	$	(77,265	)	$	1,555		$	(20,104	)	$	(95,814	)

(in thousands)	December 31, 2017			Pre-tax Activity			Tax Effect			July 1, 2018
Net pension activity:
Actuarial loss	$	(78,618	)	$	1,866		$	(460	)	$	(77,212	)
Prior service costs		(43	)		12			(3	)		(34	)
Net postretirement benefits activity:
Actuarial loss		(17,299	)		998			(246	)		(16,547	)
Prior service costs		1,744			(924	)		228			1,048
Foreign currency translation adjustment		14			(8	)		2			8
Total	$	(94,202	)	$	1,944		$	(479	)	$	(92,737	)

A summary of the impact of AOCI(L) on certain statements of operations line items is as follows:

	Second Quarter 2019
(in thousands)	Net Pension Activity		Net Postretirement Benefits Activity			Foreign Currency Translation Adjustment		Total
Cost of sales	$	266	$	(66	)	$	-	$	200
Selling, delivery and administrative expenses		641		(61	)		7		587
Subtotal pre-tax		907		(127	)		7		787
Income tax expense		223		(31	)		2		194
Total after tax effect	$	684	$	(96	)	$	5	$	593

	Second Quarter 2018
(in thousands)	Net Pension Activity		Net Postretirement Benefits Activity		Foreign Currency Translation Adjustment			Total
Cost of sales	$	215	$	7	$	-		$	222
Selling, delivery and administrative expenses		724		30		(12	)		742
Subtotal pre-tax		939		37		(12	)		964
Income tax expense		231		10		(3	)		238
Total after tax effect	$	708	$	27	$	(9	)	$	726

	First Half 2019
(in thousands)	Net Pension Activity		Net Postretirement Benefits Activity			Foreign Currency Translation Adjustment			Total
Cost of sales	$	529	$	(133	)	$	-		$	396
Selling, delivery and administrative expenses		1,284		(122	)		(3	)		1,159
Subtotal pre-tax		1,813		(255	)		(3	)		1,555
Income tax expense		446		(63	)		1			384
Total after tax effect	$	1,367	$	(192	)	$	(4	)	$	1,171

	First Half 2018
(in thousands)	Net Pension Activity		Net Postretirement Benefits Activity		Foreign Currency Translation Adjustment			Total
Cost of sales	$	431	$	13	$	-		$	444
Selling, delivery and administrative expenses		1,447		61		(8	)		1,500
Subtotal pre-tax		1,878		74		(8	)		1,944
Income tax expense		463		18		(2	)		479
Total after tax effect	$	1,415	$	56	$	(6	)	$	1,465