Quarterly report pursuant to Section 13 or 15(d)

Accumulated Other Comprehensive Income

v3.20.1
Accumulated Other Comprehensive Income
 6 Months Ended
Mar. 31, 2020
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, 2020 and 2019 were as follows:
     Post-retirement benefit plans Currency translation adjustment   Derivatives Total
Attributable to Matthews:            
Balance, December 31, 2019   $ (70,016)   $ (145,103)     $ (113)   $ (215,232)  
OCI before reclassification   —    (30,648)     (4,305)   (34,953)  
Amounts reclassified from AOCI 1,827   
(a)
 —    (137)  
(b)
 1,690   
Net current-period OCI 1,827   
 
 (30,648)  
 
 (4,442)     (33,263)  
Balance, March 31, 2020 $ (68,189)   $ (175,751)     $ (4,555)     $ (248,495)  
Attributable to noncontrolling interest:                          
Balance, December 31, 2019   $ —    $ 370      $ —      $ 370   
OCI before reclassification   —    1      —      1   
Net current-period OCI   —    1      —    1   
Balance, March 31, 2020   $ —    $ 371      $ —    $ 371   

     Post-retirement benefit plans Currency translation adjustment   Derivatives Total
Attributable to Matthews:            
Balance, December 31, 2018   $ (37,147)   $ (147,524)     $ 5,637    $ (179,034)  
OCI before reclassification   —    134      (1,356)   (1,222)  
Amounts reclassified from AOCI 734   
(a)
 —    (664)  
(b)
 70   
Net current-period OCI   734    134      (2,020)   (1,152)  
Balance, March 31, 2019   $ (36,413)   $ (147,390)     $ 3,617    $ (180,186)  
Attributable to noncontrolling interest:                        
Balance, December 31, 2018   $ —    $ 454      $ —    $ 454   
OCI before reclassification   —    19   
 
 —    19   
Net current-period OCI   —    19      —    19   
Balance, March 31, 2019   $ —    $ 473   
 
 $ —    $ 473   
(a) Amounts were included in net periodic benefit cost for pension and other postretirement benefit plans (see Note 11).
(b) Amounts were included in interest expense in the periods the hedged item affected earnings (see Note 7).
Note 12.   Accumulated Other Comprehensive Income (continued)

The changes in AOCI by component, net of tax, for the six-month periods ended March 31, 2020 and 2019 were as follows:
     Post-retirement benefit plans Currency translation adjustment   Derivatives Total
Attributable to Matthews:            
Balance, September 30, 2019   $ (71,743)   $ (156,214)     $ (404)   $ (228,361)  
OCI before reclassification   —    (19,537)     (3,739)   (23,276)  
Amounts reclassified from AOCI 3,554   
(a)
 —    (412)  
(b)
 3,142   
Net current-period OCI 3,554   
 
 (19,537)     (4,151)   (20,134)  
Balance, March 31, 2020   $ (68,189)   $ (175,751)     $ (4,555)   $ (248,495)  
Attributable to noncontrolling interest:                        
Balance, September 30, 2019   $ —    $ 375      $ —    $ 375   
OCI before reclassification   —    (4)     —    (4)  
Net current-period OCI   —    (4)     —    (4)  
Balance, March 31, 2020   $ —    $ 371      $ —    $ 371   

     Post-retirement benefit plans Currency translation adjustment   Derivatives Total
Attributable to Matthews:            
Balance, September 30, 2018   $ (37,876)   $ (134,960)     $ 8,538    $ (164,298)  
OCI before reclassification   —    (12,430)     (3,702)   (16,132)  
Amounts reclassified from AOCI 1,463   
(a)
 —    (1,219)  
(b)
 244   
Net current-period OCI   1,463    (12,430)     (4,921)   (15,888)  
Balance, March 31, 2019   $ (36,413)   $ (147,390)     $ 3,617    $ (180,186)  
Attributable to noncontrolling interest:                        
Balance, September 30, 2018   $ —    $ 467      $ —    $ 467   
OCI before reclassification   —    6   
 
 —    6   
Net current-period OCI   —    6      —    6   
Balance, March 31, 2019   $ —    $ 473   
 
 $ —    $ 473   
(a) Amounts were included in net periodic benefit cost for pension and other postretirement benefit plans (see Note 11).
(b) Amounts were included in interest expense in the periods the hedged item affected earnings (see Note 7).
Note 12.   Accumulated Other Comprehensive Income (continued)

Reclassifications out of AOCI for the three and six-month periods ended March 31, 2020 were as follows:

  Amount reclassified from AOCI
 
Details about AOCI Components		 Three Months Ended March 31, 2020   Six Months Ended March 31, 2020 Affected line item in the Statement of income
Postretirement benefit plans           
Prior service (cost) credit $ 70   
(a)
 $ 140     
Actuarial losses (2,386)  
(a)
 (4,773)    
  (2,316)  
(b)
 (4,633)   Income before income tax
  489   
 
 1,079    Income taxes
  $ (1,827)  
 
 $ (3,554)   Net income
Derivatives  
 
       
Interest rate swap contracts $ 182   
 
 $ 546    Interest expense
  182   
(b)
 546    Income before income tax
  (45)     (134)   Income taxes
  $ 137      $ 412    Net income


Reclassifications out of AOCI for the three and six-month periods ended March 31, 2019 were as follows:
  Amount reclassified from AOCI
 
Details about AOCI Components		 Three Months Ended March 31, 2019   Six Months Ended
March 31, 2019		 Affected line item in the Statement of income
Postretirement benefit plans           
Prior service credit $ 95   
(a)
 $ 190     
Actuarial losses (1,085)  
(a)
 (2,131)    
  (990)  
(b)
 (1,941)   Income before income tax
  256   
 
 478    Income taxes
  $ (734)  
 
 $ (1,463)   Net income
Derivatives  
 
       
Interest rate swap contracts $ 880   
 
 $ 1,615    Interest expense
  880   
(b)
 1,615    Income before income tax
  (216)  
 
 (396)   Income taxes
  $ 664      $ 1,219    Net income

(a)Prior service cost 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.  Actuarial losses are reported in other income (deductions), net. For additional information, see Note 11.
(b)For pre-tax items, positive amounts represent income and negative amounts represent expense.