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Accumulated Other Comprehensive Income (AOCI) (Tables) | 6 Months Ended
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Jun. 30, 2016
Accumulated items of other comprehensive income: |
Schedule of Accumulated Other Comprehensive Income | The table below presents changes in the components of AOCI for the period December 31, 2015 to June 30, 2016:
(in thousands) |  | Translation adjustments |  | Pension and postretirement liability adjustments |  | Derivative valuation adjustment |  | Total Other Comprehensive Income
December 31, 2015 |  | ($108,655 | ) |  | ($48,725 | ) |  | ($1,464 | ) |  | ($158,844 | )
Other comprehensive income/(loss) before reclassifications |  | 2,393 |  |  | 12 |  |  | (4,608 | ) |  | (2,203 | )
Pension/postretirement plan remeasurements, net of tax |  | - |  |  | 105 |  |  | - |  |  | 105 |
Interest expense related to swaps reclassified to the Statement of Income, net of tax |  | - |  |  | - |  |  | 363 |  |  | 363 |
Pension and postretirement liability adjustments reclassified to Statement of Income, net of tax |  | - |  |  | 244 |  |  | - |  |  | 244 |
Net current period other comprehensive income/(loss) |  | 2,393 |  |  | 361 |  |  | (4,245 | ) |  | (1,491 | )
June 30, 2016 |  | ($106,262 | ) |  | ($48,364 | ) |  | ($5,709 | ) |  | ($160,335 | )
The table below presents changes in the components of AOCI for the period December 31, 2014 to June 30, 2015:
(in thousands) |  | Translation adjustments |  | Pension and postretirement liability adjustments |  | Derivative valuation adjustment |  | Total Other Comprehensive Income
December 31, 2014 |  | ($55,240 | ) |  | ($51,666 | ) |  | ($861 | ) |  | ($107,767 | )
Other comprehensive income/(loss) before reclassifications |  | (26,023 | ) |  | 1,125 |  |  | (744 | ) |  | (25,642 | )
Interest expense related to swaps reclassified to the Statement of Income, net of tax |  | - |  |  | - |  |  | 581 |  |  | 581 |
Pension and postretirement liability adjustments reclassified to Statement of Income, net of tax |  | - |  |  | 485 |  |  | - |  |  | 485 |
Net current period other comprehensive income/(loss) |  | (26,023 | ) |  | 1,610 |  |  | (163 | ) |  | (24,576 | )
June 30, 2015 |  | ($81,263 | ) |  | ($50,056 | ) |  | ($1,024 | ) |  | ($132,343 | )
Schedule of Accumulated Other Comprehensive Income Components Reclassified to Statement of Income | The table below presents the expense/(income) amounts reclassified, and the line items of the Consolidated Statements of Income that were affected for the periods ended June 30, 2016 and 2015.
|  | Three months ended June 30, |  | Six months ended June 30,
(in thousands) |  | 2016 |  | 2015 |  | 2016 |  | 2015
Pretax Derivative valuation reclassified from Accumulated Other Comprehensive Income: |  |  |  |  |  |
Payments made on interest rate swaps included in Income before taxes(a) |  | $305 |  |  | $467 |  |  | $586 |  |  | $953 |
Income tax effect |  | (116 | ) |  | (182 | ) |  | (223 | ) |  | (372 | )
Effect on net income due to items reclassified from Accumulated Other Comprehensive Income |  | $189 |  |  | $285 |  |  | $363 |  |  | $581 |
Pretax pension and postretirement liabilities reclassified from Accumulated Other Comprehensive Income: |  |  |
Amortization of prior service credit |  | ($1,112 | ) |  | ($1,111 | ) |  | ($2,225 | ) |  | ($2,220 | )
Amortization of net actuarial loss |  | 1,296 |  |  | 1,461 |  |  | 2,574 |  |  | 2,966 |
Total pretax amount reclassified (b) |  | 184 |  |  | 350 |  |  | 349 |  |  | 746 |
Income tax effect |  | (56 | ) |  | (122 | ) |  | (105 | ) |  | (261 | )
Effect on net income due to items reclassified from Accumulated Other Comprehensive Income |  | $128 |  |  | $228 |  |  | $244 |  |  | $485 |
| (a) | Included in Interest expense.
| (b) | These accumulated other comprehensive income/(loss) components are included in the computation of net periodic pension cost (see Note 4).

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