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Accumulated Other Comprehensive Income (Loss)

6 Months Ended

Jun. 30, 2021

Equity [Abstract]

Accumulated Other Comprehensive Income (Loss)

Accumulated Other Comprehensive Income (Loss)

The following table presents the changes in accumulated other comprehensive loss ("AOCL"), net of tax for the three months ended June 30, 2021 and 2020:

			2021																								2020
(Amounts in thousands)			Foreign currency translation items(1)						Pension and other post-retirement effects						Cash flow hedging activity						Total(1)						Foreign currency translation items(1)						Pension and other post-retirement effects						Cash flow hedging activity						Total(1)
Balance - April 1			$	(467,326)					$	(142,464)					$	(286)					$	(610,076)					$	(537,425)					$	(130,852)					$	(617)					$	(668,894)
Other comprehensive income (loss) before reclassifications			13,998						(713)						15						13,300						19,048						(793)						44						18,299
Amounts reclassified from AOCL			—						2,772						—						2,772						—						2,551						—						2,551
Net current-period other comprehensive income (loss)			13,998						2,059						15						16,072						19,048						1,758						44						20,850
Balance - June 30			$	(453,328)					$	(140,405)					$	(271)					$	(594,004)					$	(518,377)					$	(129,094)					$	(573)					$	(648,044)

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(1) Includes foreign currency translation adjustments attributable to noncontrolling interests of $6.1 million and $5.9 million at April 1, 2021 and 2020, respectively, and $6.1 million and $5.9 million at June 30, 2021 and 2020, respectively. Amounts in parentheses indicate an increase to AOCL.

The following table presents the reclassifications out of AOCL:

												Three Months Ended June 30,
(Amounts in thousands)						Affected line item in the statement of income						2021(1)						2020(1)
Pension and other postretirement effects
Amortization of actuarial losses(2)						Other income (expense), net						$	(3,089)					$	(2,857)
Prior service costs(2)						Other income (expense), net						(155)						(138)
						Tax benefit						472						444
						Net of tax						$	(2,772)					$	(2,551)

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(1) Amounts in parentheses indicate decreases to income. None of the reclassified amounts have a noncontrolling interest component.

(2) These AOCL components are included in the computation of net periodic pension cost. See Note 12 for additional details.

The following table presents the changes in AOCL, net of tax for the six months ended June 30, 2021 and 2020:

			2021																								2020
(Amounts in thousands)			Foreign currency translation items(1)						Pension and other post-retirement effects						Cash flow hedging activity						Total(1)						Foreign currency translation items(1)						Pension and other post-retirement effects						Cash flow hedging activity						Total(1)
Balance - January 1			$	(456,437)					$	(146,723)					$	(488)					$	(603,648)					$	(441,364)					$	(137,161)					$	(671)					$	(579,196)
Other comprehensive (loss) income before reclassifications			3,109						804						217						4,130						(77,013)						3,116						98						(73,799)
Amounts reclassified from AOCL			—						5,514						—						5,514						—						4,951						—						4,951
Net current-period other comprehensive (loss) income			3,109						6,318						217						9,644						(77,013)						8,067						98						(68,848)
Balance - June 30			$	(453,328)					$	(140,405)					$	(271)					$	(594,004)					$	(518,377)					$	(129,094)					$	(573)					$	(648,044)

(1) Includes foreign currency translation adjustments attributable to noncontrolling interests of $5.9 million and $5.1 million at January 1, 2021 and 2020, respectively, and $6.1 million and $5.9 million at June 30, 2021 and 2020, respectively. Amounts in parentheses indicate an increase to AOCL.

The following table presents the reclassifications out of AOCL:

												Six Months Ended June 30,
(Amounts in thousands)						Affected line item in the statement of income						2021(1)						2020(1)
Pension and other postretirement effects
Amortization of actuarial losses(2)						Other income (expense), net						$	(6,148)					$	(5,514)
Prior service costs(2)						Other income (expense), net						(308)						(279)
						Tax benefit						942						842
						Net of tax						$	(5,514)					$	(4,951)

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(1) Amounts in parentheses indicate decreases to income. None of the reclassified amounts have a noncontrolling interest component.

(2) These AOCL components are included in the computation of net periodic pension cost. See Note 12 for additional details.

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- Definition

The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-URI http://asc.fasb.org/topic&trid=2134417

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(21))
-URI http://asc.fasb.org/extlink&oid=120395209&loc=SL114868664-224227

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(23))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(19))
-URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

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- References

No definition available.

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