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Accumulated Other Comprehensive Income (AOCI) (Tables) | 9 Months Ended
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Sep. 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 September 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 |  | 2,216 |  |  | 330 |  |  | (4,300 | ) |  | (1,754 | )
Interest expense related to swaps reclassified to the Statement of Income, net of tax |  | - |  |  | - |  |  | 1,045 |  |  | 1,045 |
Pension and postretirement liability adjustments reclassified to Statement of Income, net of tax |  | - |  |  | 372 |  |  | - |  |  | 372 |
Net current period other comprehensive income/(loss) |  | 2,216 |  |  | 702 |  |  | (3,255 | ) |  | (337 | )
September 30, 2016 |  | ($106,439 | ) |  | ($48,023 | ) |  | ($4,719 | ) |  | ($159,181 | )
The table below presents changes in the components of AOCI for the period December 31, 2014 to September 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 |  | (44,316 | ) |  | 1,735 |  |  | (2,374 | ) |  | (44,955 | )
Interest expense related to swaps reclassified to the Statement of Income, net of tax |  | - |  |  | - |  |  | 939 |  |  | 939 |
Pension and postretirement liability adjustments reclassified to Statement of Income, net of tax |  | - |  |  | 714 |  |  | - |  |  | 714 |
Net current period other comprehensive income/(loss) |  | (44,316 | ) |  | 2,449 |  |  | (1,435 | ) |  | (43,302 | )
September 30, 2015 |  | ($99,556 | ) |  | ($49,217 | ) |  | ($2,296 | ) |  | ($151,069 | )
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 September 30, 2016 and 2015.
|  | Three months ended September 30, |  | Nine months ended September 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) |  | $1,100 |  |  | $587 |  |  | $1,686 |  |  | $1,540 |
Income tax effect |  | (418 | ) |  | (229 | ) |  | (641 | ) |  | (601 | )
Effect on net income due to items reclassified from Accumulated Other Comprehensive Income |  | $682 |  |  | $358 |  |  | $1,045 |  |  | $939 |
Pretax pension and postretirement liabilities reclassified from Accumulated Other Comprehensive Income: |  |  |  |  |  |  |  |  |  |  |  |
Amortization of prior service credit |  | ($1,113 | ) |  | ($1,110 | ) |  | ($3,338 | ) |  | ($3,330 | )
Amortization of net actuarial loss |  | 1,296 |  |  | 1,462 |  |  | 3,870 |  |  | 4,428 |
Total pretax amount reclassified (b) |  | 183 |  |  | 352 |  |  | 532 |  |  | 1,098 |
Income tax effect |  | (55 | ) |  | (123 | ) |  | (160 | ) |  | (384 | )
Effect on net income due to items reclassified from Accumulated Other Comprehensive Income |  | $128 |  |  | $229 |  |  | $372 |  |  | $714 |
| (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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