15. Accumulated Other Comprehensive Income

The following table presents changes in Accumulated Other Comprehensive Income by component, net of tax, for the years ended December 31, 2017 and 2016:



	Foreign Currency Derivative Activities^(A)			Post Retirement Benefit Plan Items^(B)			Total
2016:
Balance at January 1, 2016	$	—		$	2,645,000		$	2,645,000
Other comprehensive income before reclassifications	(289,000		)	319,000			30,000
Amounts reclassified from accumulated other comprehensive income	(14,000		)	(336,000		)	(350,000		)
Income tax (expense) benefit	103,000			(14,000		)	89,000
Balance at December 31, 2016	$	(200,000	)	$	2,614,000		$	2,414,000

2017:
Balance at January 1, 2017	$	(200,000	)	$	2,614,000		$	2,414,000
Other comprehensive income before reclassifications	517,000			(417,000		)	100,000
Amounts reclassified from accumulated other comprehensive income	(512,000		)	(347,000		)	(859,000		)
Income tax (expense) benefit	(2,000		)	255,000			253,000
Adoption of Accounting Standards Update 2018-02	—			162,000			162,000
Balance at December 31, 2017	$	(197,000	)	$	2,267,000		$	2,070,000

^(A) The foreign currency derivative activity reclassified from Accumulated Other Comprehensive Income is allocated to cost of goods sold and sales, general and administrative expense based on the percentage of Mexican Peso spend. The tax effect of the foreign currency derivative activity reclassified from Accumulated Other Comprehensive Income is included in income tax expense on the Consolidated Statements of Income.

^(B) The Company has historically disclosed both interest rate swap activity and post-retirement benefit activity separately, however due to immaterial interest rate swap activity the components associated with interest rate swaps have been combined in the post retirement disclosures above. The effect of post-retirement benefit items reclassified from Accumulated Other Comprehensive Income is included in total cost of sales on the Consolidated Statements of Income. These Accumulated Other Comprehensive Income components are included in the computation of net periodic benefit cost (see Note 12 "Post Retirement Benefits" for additional details). The tax effect of post-retirement benefit items reclassified from Accumulated Other Comprehensive Income is included in income tax expense on the Consolidated Statements of Income.