| Changes in AOCI by Component |
The changes in AOCI by component, net of tax, for the three-month periods ended June 30, 2016 and 2015 were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Post-retirement benefit plans |
|
Currency translation adjustment |
|
Derivatives |
|
Total |
Attributable to Matthews: |
|
|
|
|
|
|
|
|
Balance, March 31, 2016 |
|
$ |
(41,314 |
) |
|
$ |
(99,261 |
) |
|
$ |
(3,505 |
) |
|
$ |
(144,080 |
) |
OCI before reclassification |
|
— |
|
|
(23,692 |
) |
|
(2,074 |
) |
|
(25,766 |
) |
Amounts reclassified from AOCI |
(a) |
1,098 |
|
|
— |
|
(b) |
518 |
|
|
1,616 |
|
Net current-period OCI |
|
1,098 |
|
|
(23,692 |
) |
|
(1,556 |
) |
|
(24,150 |
) |
Balance, June 30, 2016 |
|
$ |
(40,216 |
) |
|
$ |
(122,953 |
) |
|
$ |
(5,061 |
) |
|
$ |
(168,230 |
) |
Attributable to noncontrolling interest: |
|
|
|
|
|
|
|
|
|
|
|
|
Balance, March 31, 2016 |
|
— |
|
|
$ |
312 |
|
|
— |
|
|
$ |
312 |
|
OCI before reclassification |
|
— |
|
|
(57 |
) |
|
— |
|
|
(57 |
) |
Net current-period OCI |
|
— |
|
|
(57 |
) |
|
— |
|
|
(57 |
) |
Balance, June 30, 2016 |
|
— |
|
|
$ |
255 |
|
|
— |
|
|
$ |
255 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Post-retirement benefit plans |
|
Currency translation adjustment |
|
Derivatives |
|
Total |
Attributable to Matthews: |
|
|
|
|
|
|
|
|
Balance, March 31, 2015 |
|
$ |
(37,761 |
) |
|
$ |
(95,297 |
) |
|
$ |
(1,746 |
) |
|
$ |
(134,804 |
) |
OCI before reclassification |
|
— |
|
|
8,283 |
|
|
664 |
|
|
8,947 |
|
Amounts reclassified from AOCI |
(a) |
876 |
|
|
— |
|
(b) |
581 |
|
|
1,457 |
|
Net current-period OCI |
|
876 |
|
|
8,283 |
|
|
1,245 |
|
|
10,404 |
|
Balance, June 30, 2015 |
|
$ |
(36,885 |
) |
|
$ |
(87,014 |
) |
|
$ |
(501 |
) |
|
$ |
(124,400 |
) |
Attributable to noncontrolling interest: |
|
|
|
|
|
|
|
|
|
|
|
|
Balance, March 31, 2015 |
|
— |
|
|
$ |
445 |
|
|
— |
|
|
$ |
445 |
|
OCI before reclassification |
|
— |
|
|
(9 |
) |
|
— |
|
|
(9 |
) |
Net current-period OCI |
|
— |
|
|
(9 |
) |
|
— |
|
|
(9 |
) |
Balance, June 30, 2015 |
|
— |
|
|
$ |
436 |
|
|
— |
|
|
$ |
436 |
|
|
|
(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). |
Note 9. Accumulated Other Comprehensive Income (continued)
The changes in AOCI by component, net of tax, for the nine-month periods ended June 30, 2016 and 2015 were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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 |
|
— |
|
|
(18,349 |
) |
|
(4,292 |
) |
|
(22,641 |
) |
Amounts reclassified from AOCI |
(a) |
3,258 |
|
|
— |
|
(b) |
1,479 |
|
|
4,737 |
|
Net current-period OCI |
|
3,258 |
|
|
(18,349 |
) |
|
(2,813 |
) |
|
(17,904 |
) |
Balance, June 30, 2016 |
|
$ |
(40,216 |
) |
|
$ |
(122,953 |
) |
|
$ |
(5,061 |
) |
|
$ |
(168,230 |
) |
Attributable to noncontrolling interest: |
|
|
|
|
|
|
|
|
|
|
|
|
Balance, September 30, 2015 |
|
— |
|
|
$ |
366 |
|
|
— |
|
|
$ |
366 |
|
OCI before reclassification |
|
— |
|
|
(111 |
) |
|
— |
|
|
(111 |
) |
Net current-period OCI |
|
— |
|
|
(111 |
) |
|
— |
|
|
(111 |
) |
Balance, June 30, 2016 |
|
— |
|
|
$ |
255 |
|
|
— |
|
|
$ |
255 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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 |
|
— |
|
|
(59,647 |
) |
|
(2,548 |
) |
|
(62,195 |
) |
Amounts reclassified from AOCI |
(a) |
2,766 |
|
|
— |
|
(b) |
1,846 |
|
|
4,612 |
|
Net current-period OCI |
|
2,766 |
|
|
(59,647 |
) |
|
(702 |
) |
|
(57,583 |
) |
Balance, June 30, 2015 |
|
$ |
(36,885 |
) |
|
$ |
(87,014 |
) |
|
$ |
(501 |
) |
|
$ |
(124,400 |
) |
Attributable to noncontrolling interest: |
|
|
|
|
|
|
|
|
|
|
|
|
Balance, September 30, 2014 |
|
— |
|
|
$ |
516 |
|
|
— |
|
|
$ |
516 |
|
OCI before reclassification |
|
— |
|
|
(80 |
) |
|
— |
|
|
(80 |
) |
Net current-period OCI |
|
— |
|
|
(80 |
) |
|
— |
|
|
(80 |
) |
Balance, June 30, 2015 |
|
— |
|
|
$ |
436 |
|
|
— |
|
|
$ |
436 |
|
|
|
(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 |
Reclassifications out of AOCI for the three and nine-month periods ended June 30, 2016 were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amount reclassified from AOCI |
|
Details about AOCI Components
|
|
Three Months Ended
June 30, 2016 |
|
Nine Months Ended
June 30, 2016 |
|
Affected line item in the Statement of income |
|
|
|
|
|
|
|
Postretirement benefit plans |
|
|
|
|
|
|
Prior service (cost) credit |
|
$ |
95 |
|
(a) |
$ |
285 |
|
|
|
Actuarial losses |
|
(1,866 |
) |
(a) |
(5,598 |
) |
|
|
|
|
(1,771 |
) |
(b) |
(5,313 |
) |
|
Total before tax |
|
|
(673 |
) |
|
(2,055 |
) |
|
Tax provision (benefit) |
|
|
$ |
(1,098 |
) |
|
$ |
(3,258 |
) |
|
Net of tax |
Derivatives |
|
|
|
|
|
|
|
|
Interest rate swap contracts |
|
$ |
(848 |
) |
|
$ |
(2,424 |
) |
|
Interest expense |
|
|
(848 |
) |
(b) |
(2,424 |
) |
|
Total before tax |
|
|
(330 |
) |
|
(945 |
) |
|
Tax provision (benefit) |
|
|
$ |
(518 |
) |
|
$ |
(1,479 |
) |
|
Net of tax |
Reclassifications out of AOCI for the three and nine-month periods ended June 30, 2015 were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amount reclassified from AOCI |
|
Details about AOCI Components
|
|
Three Months Ended
June 30, 2015 |
|
Nine Months Ended
June 30, 2015 |
|
Affected line item in the Statement of income |
|
|
|
|
|
|
|
Postretirement benefit plans |
|
|
|
|
|
|
Prior service (cost) credit |
|
$ |
94 |
|
(a) |
$ |
282 |
|
|
|
Actuarial losses |
|
(1,564 |
) |
(a) |
(4,692 |
) |
|
|
|
|
(1,470 |
) |
(b) |
(4,410 |
) |
|
Total before tax |
|
|
(594 |
) |
|
(1,644 |
) |
|
Tax provision (benefit) |
|
|
$ |
(876 |
) |
|
$ |
(2,766 |
) |
|
Net of tax |
Derivatives |
|
|
|
|
|
|
|
|
Interest rate swap contracts |
|
$ |
(953 |
) |
|
$ |
(3,026 |
) |
|
Interest expense |
|
|
(953 |
) |
(b) |
(3,026 |
) |
|
Total before tax |
|
|
(372 |
) |
|
(1,180 |
) |
|
Tax provision (benefit) |
|
|
$ |
(581 |
) |
|
$ |
(1,846 |
) |
|
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. |
|