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Accumulated Other Comprehensive Income (AOCI) | 12 Months Ended
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Dec. 31, 2018
Accumulated items of other comprehensive income: |
Accumulated Other Comprehensive Income (AOCI) | 9. Accumulated Other Comprehensive Income (AOCI) The table below presents changes in the components of AOCI from January 1, 2016 to December 31, 2018:
(in thousands) | Translation adjustments |  | Pension and postretirement liability adjustments |  | Derivative valuation adjustment |  | Total Other Comprehensive Income |
January 1, 2016 | $(108,655 | ) | $(48,725 | ) | $(1,464 | ) | $(158,844 | )
Other comprehensive income/(loss) before reclassifications | (24,643 | ) | 676 |  | 804 |  | (23,163 | )
Pension/postretirement settlements and curtailments |  |  | 45 |  |  |  | 45 |
Pension/postretirement plan remeasurement |  |  | (4,394 | ) |  |  | (4,394 | )
Interest expense related to swaps reclassified to the Statements of Income, net of tax |  |  |  |  | 1,488 |  | 1,488 |
Pension and postretirement liability adjustments reclassified to Statements of Income, net of tax |  |  | 679 |  |  |  | 679 |
Net current period other comprehensive income | (24,643 | ) | (2,994 | ) | 2,292 |  | (25,345 | )
December 31, 2016 | (133,298 | ) | (51,719 | ) | 828 |  | (184,189 | )
Other comprehensive income/(loss) before reclassifications | 45,980 |  | (1,818 | ) | 201 |  | 44,363 |
Pension/postretirement plan remeasurement |  |  | 2,037 |  |  |  | 2,037 |
Interest expense related to swaps reclassified to the Statements of Income, net of tax |  |  |  |  | 924 |  | 924 |
Pension and postretirement liability adjustments reclassified to Statements of Income, net of tax |  |  | 964 |  |  |  | 964 |
Net current period other comprehensive income | 45,980 |  | 1,183 |  | 1,125 |  | 48,288 |
December 31, 2017 | (87,318 | ) | (50,536 | ) | 1,953 |  | (135,901 | )
Other comprehensive income/(loss) before reclassifications | (28,658 | ) | 1,275 |  | 2,853 |  | (24,530 | )
Pension/postretirement settlements and curtailments |  |  | 1,146 |  |  |  | 1,146 |
Pension/postretirement plan remeasurement |  |  | 443 |  |  |  | 443 |
Interest expense related to swaps reclassified to the Statements of Income, net of tax |  |  |  |  | (109 | ) | (109 | )
Pension and postretirement liability adjustments reclassified to Statements of Income, net of tax |  |  | 563 |  |  |  | 563 |
Net current period other comprehensive income | (28,658 | ) | 3,427 |  | 2,744 |  | (22,487 | )
December 31, 2018 | $(115,976 | ) | $(47,109 | ) | $4,697 |  | $(158,388 | )
The components of our Accumulated Other Comprehensive Income that are reclassified to the Statement of Income relate to our pension and postretirement plans and interest rate swaps. The table below presents the expense/(income) amounts reclassified, and the line items of the Statement of Income that were affected for the years ended December 31, 2018, 2017, and 2016.
(in thousands) |  | 2018 |  | 2017 |  | 2016
Pretax Derivative valuation reclassified from Accumulated Other Comprehensive Income: |  |  |  |  |  |
Expense related to interest rate swaps included in Income before taxes (a) |  |  | $(146 | ) |  |  | $1,490 |  |  |  | $2,400 |
Income tax effect |  |  | 37 |  |  |  | (566 | ) |  |  | (912 | )
Effect on net income due to items reclassified from Accumulated Other Comprehensive Income |  |  | $(109 | ) |  |  | $924 |  |  |  | $1,488 |
Pretax pension and postretirement liabilities reclassified from Accumulated Other Comprehensive Income: |  |  |  |  |  |  |  |  |  |  |  |
Pension/postretirement settlements and curtailments |  |  | $1,494 |  |  |  | $ - |  |  |  | $51 |
Amortization of prior service credit |  |  | (4,454 | ) |  |  | (4,453 | ) |  |  | (4,450 | )
Amortization of net actuarial loss |  |  | 5,175 |  |  |  | 5,439 |  |  |  | 5,102 |
Total pretax amount reclassified (b) |  |  | 2,215 |  |  |  | 986 |  |  |  | 703 |
Income tax effect |  |  | (506 | ) |  |  | (22 | ) |  |  | 21 |
Effect on net income due to items reclassified from Accumulated Other Comprehensive Income |  |  | $1,709 |  |  |  | $964 |  |  |  | $724 |
(a) Included in interest expense are payments related to the interest rate swap agreements and amortization of swap buyouts (see Note 18). (b) These accumulated other comprehensive income components are included in the computation of net periodic pension cost (see Notes 4 and 6).

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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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