Quarterly report pursuant to Section 13 or 15(d)

Accumulated Other Comprehensive Income (Tables)

v3.20.2
Accumulated Other Comprehensive Income (Tables)
 9 Months Ended
Jun. 30, 2020
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Changes in AOCI by Component
The changes in AOCI by component, net of tax, for the three-month periods ended June 30, 2020 and 2019 were as follows:
     Post-retirement benefit plans Currency translation adjustment   Derivatives Total
Attributable to Matthews:            
Balance, March 31, 2020   $ (68,189)   $ (175,751)     $ (4,555)   $ (248,495)  
OCI before reclassification   —    11,240      (509)   10,731   
Amounts reclassified from AOCI 1,743   
(a)
 —    330   
(b)
 2,073   
Net current-period OCI 1,743   
 
 11,240   
 
 (179)     12,804   
Balance, June 30, 2020 $ (66,446)   $ (164,511)     $ (4,734)     $ (235,691)  
Attributable to noncontrolling interest:              
Balance, March 31, 2020   $ —    $ 371      $ —      $ 371   
OCI before reclassification   —    —      —      —   
Net current-period OCI   —    —      —    —   
Balance, June 30, 2020   $ —    $ 371      $ —    $ 371   

     Post-retirement benefit plans Currency translation adjustment   Derivatives Total
Attributable to Matthews:            
Balance, March 31, 2019   $ (36,413)   $ (147,390)     $ 3,617    $ (180,186)  
OCI before reclassification   —    2,639      (2,372)   267   
Amounts reclassified from AOCI 705   
(a)
 —    (660)  
(b)
 45   
Net current-period OCI   705    2,639      (3,032)   312   
Balance, June 30, 2019   $ (35,708)   $ (144,751)     $ 585    $ (179,874)  
Attributable to noncontrolling interest:            
Balance, March 31, 2019   $ —    $ 473      $ —    $ 473   
OCI before reclassification   —    (5)  
 
 —    (5)  
Net current-period OCI   —    (5)     —    (5)  
Balance, June 30, 2019   $ —    $ 468   
 
 $ —    $ 468   
(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 nine-month periods ended June 30, 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   —    (8,297)     (4,248)   (12,545)  
Amounts reclassified from AOCI 5,297   
(a)
 —    (82)  
(b)
 5,215   
Net current-period OCI 5,297   
 
 (8,297)     (4,330)   (7,330)  
Balance, June 30, 2020   $ (66,446)   $ (164,511)     $ (4,734)   $ (235,691)  
Attributable to noncontrolling interest:            
Balance, September 30, 2019   $ —    $ 375      $ —    $ 375   
OCI before reclassification   —    (4)     —    (4)  
Net current-period OCI   —    (4)     —    (4)  
Balance, June 30, 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   —    (9,791)     (6,074)   (15,865)  
Amounts reclassified from AOCI 2,168   
(a)
 —    (1,879)  
(b)
 289   
Net current-period OCI   2,168    (9,791)     (7,953)   (15,576)  
Balance, June 30, 2019   $ (35,708)   $ (144,751)     $ 585    $ (179,874)  
Attributable to noncontrolling interest:            
Balance, September 30, 2018   $ —    $ 467      $ —    $ 467   
OCI before reclassification   —    1   
 
 —    1   
Net current-period OCI   —    1      —    1   
Balance, June 30, 2019   $ —    $ 468   
 
 $ —    $ 468   
(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).
Reclassifications out of AOCI
Reclassifications out of AOCI for the three and nine-month periods ended June 30, 2020 were as follows:

  Amount reclassified from AOCI
 
Details about AOCI Components		 Three Months Ended June 30, 2020   Nine Months Ended June 30, 2020 Affected line item in the Statement of income
Postretirement benefit plans           
Prior service (cost) credit $ 70   
(a)
 $ 210     
Actuarial losses (2,386)  
(a)
 (7,159)    
  (2,316)  
(b)
 (6,949)   Income before income tax
  573   
 
 1,652    Income taxes
  $ (1,743)  
 
 $ (5,297)   Net income
Derivatives  
 
       
Interest rate swap contracts $ (438)  
 
 $ 108    Interest expense
  (438)  
(b)
 108    Income before income tax
  108      (26)   Income taxes
  $ (330)     $ 82    Net income


Reclassifications out of AOCI for the three and nine-month periods ended June 30, 2019 were as follows:
  Amount reclassified from AOCI
 
Details about AOCI Components		 Three Months Ended June 30, 2019   Nine Months Ended
June 30, 2019		 Affected line item in the Statement of income
Postretirement benefit plans           
Prior service credit $ 95   
(a)
 $ 285     
Actuarial losses (1,066)  
(a)
 (3,197)    
  (971)  
(b)
 (2,912)   Income before income tax
  266   
 
 744    Income taxes
  $ (705)  
 
 $ (2,168)   Net income
Derivatives  
 
       
Interest rate swap contracts $ 874   
 
 $ 2,489    Interest expense
  874   
(b)
 2,489    Income before income tax
  (214)  
 
 (610)   Income taxes
  $ 660      $ 1,879    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.