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Accumulated Other Comprehensive Income (AOCI) | 6 Months Ended
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Jun. 30, 2018
Accumulated items of other comprehensive income: |
Accumulated Other Comprehensive Income (AOCI) | 10. Accumulated Other Comprehensive Income (AOCI) The table below presents changes in the components of AOCI for the period December 31, 2017 to June 30, 2018:
(in thousands) | Translation adjustments | Pension and postretirement liability adjustments | Derivative valuation adjustment | Total Other Comprehensive Income
December 31, 2017 | ($87,318) | ($50,536) | $1,953 | ($135,901)
Other comprehensive income/(loss) before reclassifications | (15,570) | 2,224 | 6,024 | (7,322)
Pension/postretirement curtailment gain, net of tax |  | (363) |  | (363)
Interest expense related to swaps reclassified to the Consolidated Statements of Income, net of tax |  |  | 178 | 178
Pension and postretirement liability adjustments reclassified to Consolidated Statements of Income, net of tax |  | 253 |  | 253
Net current period other comprehensive income | (15,570) | 2,114 | 6,202 | (7,254)
June 30, 2018 | ($102,888) | ($48,422) | $8,155 | ($143,155)
The table below presents changes in the components of AOCI for the period December 31, 2016 to June 30, 2017:
(in thousands) | Translation adjustments | Pension and postretirement liability adjustments | Derivative valuation adjustment | Total Other Comprehensive Income
December 31, 2016 | ($133,298) | ($51,719) | $828 | ($184,189)
Other comprehensive income/(loss) before reclassifications | 28,453 | (1,079) | (619) | 26,755
Interest expense related to swaps reclassified to the Consolidated Statements of Income, net of tax |  |  | 585 | 585
Pension and postretirement liability adjustments reclassified to Consolidated Statements of Income, net of tax |  | 332 |  | 332
Net current period other comprehensive income | 28,453 | (747) | (34) | 27,672
June 30, 2017 | ($104,845) | ($52,466) | $794 | ($156,517)
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, 2018 and 2017.
| Three months ended June 30, | Six months ended June 30,
(in thousands) | 2018 | 2017 | 2018 | 2017
Pretax Derivative valuation reclassified from Accumulated Other Comprehensive Income: |  |  |  |
Expense related to interest rate swaps included in Income before taxes (a) | $54 | $343 | $234 | $943
Income tax effect | (13) | (130) | (56) | (358)
Effect on net income due to items reclassified from Accumulated Other Comprehensive Income | $41 | $213 | $178 | $585
Pretax pension and postretirement liabilities reclassified from Accumulated Other Comprehensive Income: |  |  |  |
Pension/postretirement curtailment | ($518) | $- | ($518) | $-
Amortization of prior service credit (b) | (1,113) | (1,113) | (2,227) | (2,226)
Amortization of net actuarial loss (b) | 1,291 | 1,353 | 2,588 | 2,700
Total pretax amount reclassified | (340) | 240 | (157) | 474
Income tax effect | 102 | (72) | 47 | (142)
Effect on net income due to items reclassified from Accumulated Other Comprehensive Income | ($238) | $168 | ($110) | $332
| (a) | Included in Interest expense are payments related to the interest rate swap agreements and amortization of swap buyouts (see Note 16).
| (b) | These accumulated other comprehensive income components are included in Other expense, net (see Note 4). The curtailment adjustment was included in restructuring expenses, net.

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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 + Details
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