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Accumulated Other Comprehensive Income (Loss) | 9 Months Ended
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Sep. 30, 2019
Equity [Abstract] |
Accumulated Other Comprehensive Income (Loss) |
12. | ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
In conjunction with the adoption of ASU 2018-02, the Company reclassified $5,325,000 of other comprehensive loss, associated with retirement plans, from accumulated other comprehensive loss to retained earnings effective January 1, 2019. Below is the change in the Company’s AOCI balance by component (net of income taxes) for the three and nine months ended September 30, 2019 and 2018:
(In thousands) |  | Foreign Currency Translation Adjustments |  |  | Defined Benefit Pension Plan Adjustments |  |  | Cash Flow Hedge Adjustments |  |  | Total |
Balance at June 30, 2018 |  | $ | (96,788 | ) |  | $ | (27,588 | ) |  | $ | 86 |  |  | $ | (124,290 | )
Other comprehensive income before reclassifications |  |  | (2,503 | ) |  |  | — |  |  |  | — |  |  |  | (2,503 | )
Amounts reclassified from AOCI |  |  | — |  |  |  | 788 |  |  |  | (2 | ) |  |  | 786 |
Net current-period other comprehensive income |  |  | (2,503 | ) |  |  | 788 |  |  |  | (2 | ) |  |  | (1,717 | )
Balance at September 30, 2018 |  | $ | (99,291 | ) |  | $ | (26,800 | ) |  | $ | 84 |  |  | $ | (126,007 | )
Balance at June 30, 2019 |  | $ | (100,477 | ) |  | $ | (37,323 | ) |  | $ | 77 |  |  | $ | (137,723 | )
Other comprehensive income before reclassifications |  |  | (19,255 | ) |  |  | — |  |  |  | — |  |  |  | (19,255 | )
Amounts reclassified from AOCI |  |  | — |  |  |  | 473 |  |  |  | (2 | ) |  |  | 471 |
Net current-period other comprehensive income |  |  | (19,255 | ) |  |  | 473 |  |  |  | (2 | ) |  |  | (18,784 | )
Balance at September 30, 2019 |  | $ | (119,732 | ) |  | $ | (36,850 | ) |  | $ | 75 |  |  | $ | (156,507 | )
Balance at December 31, 2017 |  | $ | (70,561 | ) |  | $ | (29,093 | ) |  | $ | 91 |  |  | $ | (99,563 | )
Other comprehensive income before reclassifications |  |  | (28,730 | ) |  |  | — |  |  |  | — |  |  |  | (28,730 | )
Amounts reclassified from AOCI |  |  | — |  |  |  | 2,293 |  |  |  | (7 | ) |  |  | 2,286 |
Net current-period other comprehensive income |  |  | (28,730 | ) |  |  | 2,293 |  |  |  | (7 | ) |  |  | (26,444 | )
Balance at September 30, 2018 |  | $ | (99,291 | ) |  | $ | (26,800 | ) |  | $ | 84 |  |  | $ | (126,007 | )
Balance at December 31, 2018 |  | $ | (108,481 | ) |  | $ | (33,083 | ) |  | $ | 81 |  |  | $ | (141,483 | )
Other comprehensive income before reclassifications |  |  | (11,251 | ) |  |  | — |  |  |  | — |  |  |  | (11,251 | )
Amounts reclassified from AOCI |  |  | — |  |  |  | 1,558 |  |  |  | (6 | ) |  |  | 1,552 |
Remeasurement adjustment related to the Tax Act (1) |  |  | — |  |  |  | (5,325 | ) |  |  | — |  |  |  | (5,325 | )
Net current-period other comprehensive income |  |  | (11,251 | ) |  |  | (3,767 | ) |  |  | (6 | ) |  |  | (15,024 | )
Balance at September 30, 2019 |  | $ | (119,732 | ) |  | $ | (36,850 | ) |  | $ | 75 |  |  | $ | (156,507 | )
| (1) | Represents reclassification of the stranded tax effects resulting from the U.S. Tax Cuts and Jobs Act (Tax Act) from accumulated other comprehensive income (loss) to retained earnings in accordance with ASU 2018-02. See Note 19 for more details. |
Information regarding the reclassifications out of AOCI for the three and nine month periods ended September 30, 2019 and 2018, is displayed below:
(In thousands) |  | Amount Reclassified from AOCI (a) |  |  |
AOCI Components |  | Three Months Ended September 30 |  |  | Nine Months Ended September 30 |  |  | Affected Line Item in Consolidated Statements of Income
|  | 2019 |  |  | 2018 |  |  | 2019 |  |  | 2018 |  |  |
Amortization of defined benefit pension actuarial losses |  | $ | (622 | ) |  | $ | (1,040 | ) |  | $ | (2,051 | ) |  | $ | (3,026 | ) |  | (b)
|  |  | 149 |  |  |  | 252 |  |  |  | 493 |  |  |  | 733 |  |  | Tax benefit
|  | $ | (473 | ) |  | $ | (788 | ) |  | $ | (1,558 | ) |  | $ | (2,293 | ) |  | Net of tax
Gains and losses on cash flow hedges: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange contracts |  |  | 2 |  |  |  | 2 |  |  |  | 6 |  |  |  | 7 |  |  | Cost of sales
|  |  | 2 |  |  |  | 2 |  |  |  | 6 |  |  |  | 7 |  |  | Total before tax
|  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  | Tax benefit
|  | $ | 2 |  |  | $ | 2 |  |  | $ | 6 |  |  | $ | 7 |  |  | Net of tax
Total reclassifications for the period |  | $ | (471 | ) |  | $ | (786 | ) |  | $ | (1,552 | ) |  | $ | (2,286 | ) |  | Net of tax
| (a) | Amounts in parentheses denote expense to statement of income.
| (b) | This component of accumulated other comprehensive income is included in the computation of net periodic benefit cost (see Note 10 for additional details). |

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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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