Reclassifications Out of Accumulated Other Comprehensive Income (Loss)

12 Months Ended

Dec. 31, 2019

Reclassifications Out of Accumulated Other Comprehensive Income (Loss)

Note 17 – Reclassifications Out of Accumulated Other Comprehensive Income (Loss)

Reclassification adjustments and other activities impacting accumulated other comprehensive income (loss) during the years ended December 31, 2019, December 31, 2018 and December 31, 2017 are as follows:

	Defined Benefit Pension Plans			Foreign Currency Translation Adjustments			Foreign Currency Hedge Derivatives				Total
Balance at December 31, 2018	$	(2,339	)	$	(37,157	)	$	(4	)		$	(39,500	)
Other comprehensive income (loss) before reclassifications		(1,264	)		(2,415	)		2,259			$	(1,420	)
Income tax effect of other comprehensive income (loss) before reclassifications		232			(393	)		(493	)		$	(654	)
Amounts reclassified from accumulated other comprehensive income (loss) into net income		—			—			(1,108	)	^a	$	(1,108	)
Income taxes reclassified into net income		—			—			241			$	241
Net current period other comprehensive income (loss)		(1,032	)		(2,808	)		899				(2,941	)
Balance at December 31, 2019	$	(3,371	)	$	(39,965	)	$	895			$	(42,441	)

(a)	The amounts reclassified from accumulated other comprehensive income (loss) are included in cost of sales. See Note 14 for information related to the effect of commodity and foreign currency derivative instrument`s on our consolidated statements of income.

	Defined Benefit Pension Plans			Foreign Currency Translation Adjustments			Commodity Hedge Derivatives				Foreign Currency Hedge Derivatives				Total
Balance at December 31, 2017	$	(2,366	)	$	(17,555	)	$	277			$	(800	)		$	(20,444	)
Cumulative effect of accounting change due to adoption of ASU 2018-02		(49	)		—			9				—				(40	)
Other comprehensive income (loss) before reclassifications		18			(19,212	)		—				1,342				(17,852	)
Income tax effect of other comprehensive income (loss) before reclassifications		(15	)		(390	)		—				(337	)			(742	)
Amounts reclassified from accumulated other comprehensive income (loss) into net income		73			—			(218	)	^a		(246	)	^a		(391	)
Income taxes reclassified into net income		—			—			(68	)			37				(31	)
Net current period other comprehensive income (loss)		27			(19,602	)		(277	)			796				(19,056	)
Balance at December 31, 2018	$	(2,339	)	$	(37,157	)	$	—			$	(4	)		$	(39,500	)

(a)	The amounts reclassified from accumulated other comprehensive income (loss) are included in cost of sales. See Note 14 for information related to the effect of commodity and foreign currency derivative instrument`s on our consolidated statements of income.

	Defined Benefit Pension Plans			Foreign Currency Translation Adjustments			Commodity Hedge Derivatives				Foreign Currency Hedge Derivatives				Total
Balance at December 31, 2016	$	(2,550	)	$	(65,762	)	$	241			$	(1,020	)		$	(69,091	)
Other comprehensive income (loss) before reclassifications		166			48,059			254				2,123				50,602
Income tax effect of other comprehensive income (loss) before reclassifications		(60	)		148			(93	)			(570	)			(575	)
Amounts reclassified from accumulated other comprehensive income (loss) into net income		78			—			(199	)	^a		(1,822	)	^a		(1,943	)
Income taxes reclassified into net income		—			—			74				489				563
Net current period other comprehensive income (loss)		184			48,207			36				220				48,647
Balance at December 31, 2017	$	(2,366	)	$	(17,555	)	$	277			$	(800	)		$	(20,444	)

(a)	The amounts reclassified from accumulated other comprehensive income (loss) are included in cost of sales. See Note 14 for information related to the effect of commodity and foreign currency derivative instrument`s on our consolidated statements of income.

We expect all of the existing gains and losses related to foreign currency and commodity derivatives reported in accumulated other comprehensive income as of December 31, 2019 to be reclassified into earnings during the twelve-month period ending December 31, 2020.