Quarterly report pursuant to Section 13 or 15(d)

Accumulated Other Comprehensive Income

v3.7.0.1
Accumulated Other Comprehensive Income
 6 Months Ended
Mar. 31, 2017
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income

The changes in AOCI by component, net of tax, for the three-month periods ended March 31, 2017 and 2016 were as follows:
 
  
Post-retirement benefit plans
 
Currency translation adjustment
 
Derivatives
 
Total
Attributable to Matthews:
 
 
 
 
 
 
 
 
Balance, December 31, 2016
 
$
(54,514
)
 
$
(153,601
)
 
$
2,034

 
$
(206,081
)
OCI before reclassification
 
—

 
4,108

 
979

 
5,087

Amounts reclassified from AOCI
(a)
1,462

 
—

(b)
(306
)
 
1,156

Net current-period OCI
 
1,462

 
4,108

 
673

 
6,243

Balance, March 31, 2017
 
$
(53,052
)
 
$
(149,493
)
 
$
2,707

 
$
(199,838
)
Attributable to noncontrolling interest:
 
 

 
 

 
 

 
 

Balance, December 31, 2016
 
—

 
$
336

 
—

 
$
336

OCI before reclassification
 
—

 
9

 
—

 
9

Net current-period OCI
 
—

 
9

 
—

 
9

Balance, March 31, 2017
 
—

 
$
345

 
—

 
$
345


 
  
Post-retirement benefit plans
 
Currency translation adjustment
 
Derivatives
 
Total
Attributable to Matthews:
 
 
 
 
 
 
 
 
Balance, December 31, 2015
 
$
(42,372
)
 
$
(114,673
)
 
$
(666
)
 
$
(157,711
)
OCI before reclassification
 
—

 
15,412

 
(3,294
)
 
12,118

Amounts reclassified from AOCI
(a)
1,058

 
—

(b)
455

 
1,513

Net current-period OCI
 
1,058

 
15,412

 
(2,839
)
 
13,631

Balance, March 31, 2016
 
$
(41,314
)
 
$
(99,261
)
 
$
(3,505
)
 
$
(144,080
)
Attributable to noncontrolling interest:
 
 

 
 

 
 

 
 

Balance, December 31, 2015
 
—

 
$
313

 
—

 
$
313

OCI before reclassification
 
—

 
(1
)
 
—

 
(1
)
Net current-period OCI
 
—

 
(1
)
 
—

 
(1
)
Balance, March 31, 2016
 
—

 
$
312

 
—

 
$
312


(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 six-month periods ended March 31, 2017 and 2016 were as follows:
 
  
Post-retirement benefit plans
 
Currency translation adjustment
 
Derivatives
 
Total
Attributable to Matthews:
 
 
 
 
 
 
 
 
Balance, September 30, 2016
 
$
(56,050
)
 
$
(122,259
)
 
$
(3,559
)
 
$
(181,868
)
OCI before reclassification
 
—

 
(27,234
)
 
7,065

 
(20,169
)
Amounts reclassified from AOCI
(a)
2,998

 
—

(b)
(799
)
 
2,199

Net current-period OCI
 
2,998

 
(27,234
)
 
6,266

 
(17,970
)
Balance, March 31, 2017
 
$
(53,052
)
 
$
(149,493
)
 
$
2,707

 
$
(199,838
)
Attributable to noncontrolling interest:
 
 

 
 

 
 

 
 

Balance, September 30, 2016
 
—

 
$
277

 
—

 
$
277

OCI before reclassification
 
—

 
68

 
—

 
68

Net current-period OCI
 
—

 
68

 
—

 
68

Balance, March 31, 2017
 
—

 
$
345

 
—

 
$
345


 
  
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
 
—

 
5,343

 
(2,218
)
 
3,125

Amounts reclassified from AOCI
(a)
2,160

 
—

(b)
961

 
3,121

Net current-period OCI
 
2,160

 
5,343

 
(1,257
)
 
6,246

Balance, March 31, 2016
 
$
(41,314
)
 
$
(99,261
)
 
$
(3,505
)
 
$
(144,080
)
Attributable to noncontrolling interest:
 
 

 
 

 
 

 
 

Balance, September 30, 2015
 
—

 
$
366

 
—

 
$
366

OCI before reclassification
 
—

 
(54
)
 
—

 
(54
)
Net current-period OCI
 
—

 
(54
)
 
—

 
(54
)
Balance, March 31, 2016
 
—

 
$
312

 
—

 
$
312


(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)

Reclassifications out of AOCI for the three and six-month periods ended March 31, 2017 were as follows:
 
 
Amount reclassified from AOCI
 
Details about AOCI Components
 
Three Months Ended March 31, 2017
 
Six Months Ended March 31, 2017
 
Affected line item in the Statement of income
 
 
 
 
 
 
 
Postretirement benefit plans
 
 
 
 
 
    
Prior service (cost) credit
 
$
94

(a)
$
188

 
 
Actuarial losses
 
(2,509
)
(a)
(5,018
)
 
 
 
 
(2,415
)
(b)
(4,830
)
 
Income before income tax
 
 
(953
)
 
(1,832
)
 
Income taxes
 
 
$
(1,462
)
 
$
(2,998
)
 
Net income
Derivatives
 
 

 
 

 
    
Interest rate swap contracts
 
$
503

 
$
1,310

 
Interest expense
 
 
503

(b)
1,310

 
Income before income tax
 
 
197

 
511

 
Income taxes
 
 
$
306

 
$
799

 
Net income


(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.

Reclassifications out of AOCI for the three and six-month periods ended March 31, 2016 were as follows:
 
 
 
Amount reclassified from AOCI
 
Details about AOCI Components
 
Three Months Ended
March 31, 2016
 
Six Months Ended
March 31, 2016
 
Affected line item in the Statement of income
 
 
 
 
 
 
 
Postretirement benefit plans
 
 
 
 
 
    
Prior service (cost) credit
 
$
95

(a)
$
190

 
 
Actuarial losses
 
(1,866
)
(a)
(3,732
)
 
 
 
 
(1,771
)
(b)
(3,542
)
 
Income before income tax
 
 
(713
)
 
(1,382
)
 
Income taxes
 
 
$
(1,058
)
 
$
(2,160
)
 
Net income
Derivatives
 
 

 
 

 
    
Interest rate swap contracts
 
$
(746
)
 
$
(1,576
)
 
Interest expense
 
 
(746
)
(b)
(1,576
)
 
Income before income tax
 
 
(291
)
 
(615
)
 
Income taxes
 
 
$
(455
)
 
$
(961
)
 
Net income

(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.