| Accumulated Other Comprehensive Income |
Note 9. Accumulated Other Comprehensive Income
The change in AOCI by component, net of tax, for the three month periods ended December 31, 2015 and 2014 were as follows:
| |
|
Post-retirement benefit plans |
|
|
Currency translation adjustment |
|
|
Derivatives |
|
|
Total |
|
Attributable to Matthews: |
|
|
|
|
|
|
|
|
|
|
|
|
| Balance, September 30, 2014 |
|
$ |
(39,651 |
) |
|
$ |
(27,367 |
) |
|
$ |
201 |
|
|
$ |
(66,817 |
) |
OCI before reclassification |
|
|
- |
|
|
|
(26,282 |
) |
|
|
(1,468 |
) |
|
|
(27,750 |
) |
Amounts reclassified from AOCI |
(a) |
|
925 |
|
|
|
|
|
(b) |
|
657 |
|
|
|
1,582 |
|
Net current-period OCI |
|
|
925 |
|
|
|
(26,282 |
) |
|
|
(811 |
) |
|
|
(26,168 |
) |
Balance, December 31, 2014 |
|
$ |
(38,726 |
) |
|
$ |
(53,649 |
) |
|
$ |
(610 |
) |
|
$ |
(92,985 |
) |
Attributable to noncontrolling interest: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance, September 30, 2014 |
|
|
- |
|
|
$ |
516 |
|
|
|
- |
|
|
$ |
516 |
|
OCI before reclassification |
|
|
- |
|
|
|
(10 |
) |
|
|
- |
|
|
|
(10 |
) |
Net current-period OCI |
|
|
- |
|
|
|
(10 |
) |
|
|
- |
|
|
|
(10 |
) |
Balance, December 31, 2014 |
|
|
- |
|
|
$ |
506 |
|
|
|
- |
|
|
$ |
506 |
|
| |
|
Post-retirement benefit plans |
|
|
Currency translation adjustment |
|
|
Derivatives |
|
|
Total |
|
Attributable to Matthews: |
|
|
|
|
|
|
|
|
|
|
|
|
| Balance, September 30, 2015 |
|
$ |
(43,474 |
) |
|
$ |
(104,604 |
) |
|
$ |
(2,248 |
) |
|
$ |
(150,326 |
) |
OCI before reclassification |
|
|
- |
|
|
|
(10,069 |
) |
(b) |
|
1,076 |
|
|
|
(8,993 |
) |
Amounts reclassified from AOCI |
(a) |
|
1,102 |
|
|
|
|
|
|
|
506 |
|
|
|
1,608 |
|
Net current-period OCI |
|
|
1,102 |
|
|
|
(10,069 |
) |
|
|
1,582 |
|
|
|
(7,385 |
) |
Balance, December 31, 2015 |
|
$ |
(42,372 |
) |
|
$ |
(114,673 |
) |
|
$ |
(666 |
) |
|
$ |
(157,711 |
) |
Attributable to noncontrolling interest: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance, September 30, 2015 |
|
|
- |
|
|
$ |
366 |
|
|
|
- |
|
|
$ |
366 |
|
OCI before reclassification |
|
|
- |
|
|
|
(53 |
) |
|
|
- |
|
|
|
(53 |
) |
Net current-period OCI |
|
|
- |
|
|
|
(53 |
) |
|
|
- |
|
|
|
(53 |
) |
Balance, December 31, 2015 |
|
|
- |
|
|
$ |
313 |
|
|
|
- |
|
|
$ |
313 |
|
| (a) |
Amounts were included in net periodic benefit cost for pension and other postretirement benefit plans (see note 8). |
| (b) |
Amounts were included in interest expense in the periods the hedged item affected earnings (see note 5). |
Reclassifications out of AOCI for the three month periods ended December 31, 2015 and 2014 were as follows:
| |
|
Amount reclassified from AOCI |
Details about AOCI Components |
|
Three months ended
December 31, 2015
|
|
|
Three months ended
December 31, 2014
|
|
|
Affected line item in the Statement of income |
| |
|
|
|
|
|
|
|
|
Postretirement benefit plans |
|
|
|
|
|
|
|
|
Prior service (cost) credit |
|
$ |
95 |
|
|
$ |
94 |
|
(a) |
|
Actuarial losses |
|
|
(1,866 |
) |
|
|
(1,564 |
) |
(a) |
|
| |
|
|
(1,771 |
) |
|
|
(1,470 |
) |
(b) |
Total before tax |
| |
|
|
(669 |
) |
|
|
(545 |
) |
|
Tax provision (benefit) |
| |
|
$ |
(1,102 |
) |
|
$ |
(925 |
) |
|
Net of tax |
Derivatives |
|
|
|
|
|
|
|
|
|
|
Interest rate swap contracts |
|
$ |
(830 |
) |
|
$ |
(1,077 |
) |
|
Interest expense |
| |
|
|
(830 |
) |
|
|
(1,077 |
) |
(b) |
Total before tax |
| |
|
|
(324 |
) |
|
|
(420 |
) |
|
Tax provision (benefit) |
| |
|
$ |
(506 |
) |
|
$ |
(657 |
) |
|
Net of tax |
| (a) |
Amounts are included in the computation of pension and other postretirement benefit expense, which is reported in both cost of goods sold and selling and administrative expenses. For additional information, see Note 8. |
| (b) |
For pre-tax items, positive amounts represent income and negative amounts represent expense. |
|