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Accumulated Other Comprehensive Income
 6 Months Ended
Jun. 30, 2015
Equity [Abstract]  
Accumulated Other Comprehensive Income
6. ACCUMULATED OTHER COMPREHENSIVE INCOME

The following table sets forth details of the changes in accumulated other comprehensive income (losses) for the three months and six months ended June 30, 2015 and 2014.

 

in thousands

    Currency
translation
adjustments		     Unrealized gain
(loss) on cash
flow hedges		     Change in
pensions		     Change in other
postretirement
defined benefit
plans		     Total  

Balance at April 1, 2015

    $ (75,561 )    $ 5,122      $ (116,994 )    $ (2,722 )    $ (190,155 ) 

Other comprehensive income before reclassifications (net of tax)

      16,704        (1,220 )      —          —          15,484   

Amounts reclassified from accumulated other comprehensive income (net of tax)

      —          (1,281 )      2,918        (34 )      1,603   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net current period other comprehensive income (loss)

      16,704        (2,501 )      2,918        (34 )      17,087   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Balance at June 30, 2015

    $ (58,857 )    $ 2,621      $ (114,076 )    $ (2,756 )    $ (173,068 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Balance at April 1, 2014

    $ 15,869      $ (1,020 )    $ (87,266 )    $ 25      $ (72,392 ) 

Other comprehensive income before reclassifications (net of tax)

      (533 )      618        —          —          85   

Amounts reclassified from accumulated other comprehensive income (net of tax)

      —          462        2,444        35        2,941   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net current period other comprehensive income (loss)

      (533 )      1,080        2,444        35        3,026   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Balance at June 30, 2014

    $ 15,336      $ 60      $ (84,822 )    $ 60      $ (69,366 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

 

in thousands

    Currency
translation
adjustments		     Unrealized gain
(loss) on cash
flow hedges		     Change in
pensions		     Change in other
postretirement
defined benefit
plans		     Total  

Balance at January 1, 2015

    $ (34,224 )    $ 2,356      $ (120,260 )    $ (2,742 )    $ (154,870 ) 

Other comprehensive income before reclassifications (net of tax)

      (24,633 )      2,174        —          —          (22,459 ) 

Amounts reclassified from accumulated other comprehensive income (net of tax)

      —          (1,909 )      6,184        (14 )      4,261   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net current period other comprehensive income (loss)

      (24,633 )      265        6,184        (14 )      (18,198 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Balance at June 30, 2015

    $ (58,857 )    $ 2,621      $ (114,076 )    $ (2,756 )    $ (173,068 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Balance at January 1, 2014

    $ 15,141      $ (941 )    $ (89,547 )    $ (10 )    $ (75,357 ) 

Other comprehensive income before reclassifications (net of tax)

      195        215        —          —          410   

Amounts reclassified from accumulated other comprehensive income (net of tax)

      —          786        4,725        70        5,581   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net current period other comprehensive income

      195        1,001        4,725        70        5,991   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Balance at June 30, 2014

    $ 15,336      $ 60      $ (84,822 )    $ 60      $ (69,366 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

 

Reclassifications out of accumulated other comprehensive income were as follows:

 

     Three months ended
June 30		     Six months ended
June 30		      

In thousands

    2015     2014     2015     2014      
Description                            Line Item in Statements of Income

Cash flow hedges (Note 14)

           

(Gains) losses on cash flow hedges

    $ (1,750 )    $ 641      $ (2,623 )    $ 1,090      Costs of products sold

Tax (benefit) expense

      469        (179 )      714        (304 )    Income tax provision
  

 

 

    

 

 

    

 

 

    

 

 

    

Net of tax

      (1,281 )      462        (1,909 )      786     

Retirement plan obligations (Note 9)

           

Amortization of deferred benefit pension plan items

           

Prior service costs

      574        695        1,142        1,243      Costs of products sold
     187        226        379        412      Selling, general and administrative

Actuarial losses

      2,924        2,233        6,288        4,429      Costs of products sold
     1,023        781        2,165        1,525      Selling, general and administrative
  

 

 

    

 

 

    

 

 

    

 

 

    
     4,708        3,935        9,974        7,609     

Tax benefit

      (1,790 )      (1,491 )      (3,790 )      (2,884 )    Income tax provision
  

 

 

    

 

 

    

 

 

    

 

 

    

Net of tax

      2,918        2,444        6,184        4,725     

Amortization of deferred benefit other plan items

           

Prior service costs

      (57 )      (59 )      (115 )      (118 )    Costs of products sold
     (13 )      (13 )      (25 )      (26 )    Selling, general and administrative

Actuarial losses

      12        106        94        212      Costs of products sold
     3        23        21        46      Selling, general and administrative
  

 

 

    

 

 

    

 

 

    

 

 

    
     (55 )      57        (25 )      114     

Tax benefit

      21        (22 )      11        (44 )    Income tax provision
  

 

 

    

 

 

    

 

 

    

 

 

    

Net of tax

      (34 )      35        (14 )      70     
  

 

 

    

 

 

    

 

 

    

 

 

    

Total reclassifications, net of tax

    $ 1,603      $ 2,941      $ 4,261      $ 5,581