Quarterly report pursuant to Section 13 or 15(d)

Accumulated Other Comprehensive Income (Tables)

v3.21.1
Accumulated Other Comprehensive Income (Tables)
 6 Months Ended
Mar. 31, 2021
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 March 31, 2021 and 2020 were as follows:
     Post-retirement benefit plans Currency translation adjustment Derivatives Total
Attributable to Matthews:            
Balance, December 31, 2020   $ (80,830) $ (134,826)   $ (4,849) $ (220,505)
OCI before reclassification   —  (8,898)   2,088  (6,810)
Amounts reclassified from AOCI 2,255 
(a)
 —  567 
(b)
 2,822 
Net current-period OCI 2,255 
 
 (8,898)
 
 2,655    (3,988)
Balance, March 31, 2021 $ (78,575) $ (143,724)   $ (2,194)   $ (224,493)
Attributable to noncontrolling interest:              
Balance, December 31, 2020   $ —  $ 365    $ —    $ 365 
OCI before reclassification   —  1    —    1 
Net current-period OCI   —  1    —  1 
Balance, March 31, 2021   $ —  $ 366    $ —  $ 366 

     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 
(a) Amounts were included in net periodic benefit cost for pension and other postretirement benefit plans (see Note 10).
(b) Amounts were included in interest expense in the periods the hedged item affected earnings (see Note 7).
Note 11.   Accumulated Other Comprehensive Income (continued)

The changes in AOCI by component, net of tax, for the six-month periods ended March 31, 2021 and 2020 were as follows:
     Post-retirement benefit plans Currency translation adjustment   Derivatives Total
Attributable to Matthews:            
Balance, September 30, 2020   $ (82,954) $ (151,881)   $ (5,884) $ (240,719)
OCI before reclassification   —  8,157    2,441  10,598 
Amounts reclassified from AOCI 4,379 
(a)
 —  1,249 
(b)
 5,628 
Net current-period OCI 4,379 
 
 8,157    3,690  16,226 
Balance, March 31, 2021   $ (78,575) $ (143,724)   $ (2,194) $ (224,493)
Attributable to noncontrolling interest:            
Balance, September 30, 2020   $ —  $ 368    $ —  $ 368 
OCI before reclassification   —  (2)   —  (2)
Net current-period OCI   —  (2)   —  (2)
Balance, March 31, 2021   $ —  $ 366    $ —  $ 366 

     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 
(a) Amounts were included in net periodic benefit cost for pension and other postretirement benefit plans (see Note 10).
(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 six-month periods ended March 31, 2021 and 2020 were as follows:
  Amount reclassified from AOCI
 
Details about AOCI Components		 Three Months Ended March 31, 2021   Six Months Ended March 31, 2021 Affected line item in the Statement of income
Postretirement benefit plans           
Prior service credit (a)
$ 132  $ 240   
Actuarial losses (a)
(3,023) (6,044)  
  (2,891) (5,804)
Income before income tax (b)
  636 
 
 1,425  Income taxes
  $ (2,255)
 
 $ (4,379) Net income
Derivatives  
 
       
Interest rate swap contracts $ (751)
 
 $ (1,654) Interest expense
  (751) (1,654)
Income before income tax (b)
  184    405  Income taxes
  $ (567)   $ (1,249) Net income
  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 credit (a)
$ 70  $ 140   
Actuarial losses (a)
(2,386) (4,773)  
  (2,316) (4,633)
Income before income tax (b)
  489 
 
 1,079  Income taxes
  $ (1,827)
 
 $ (3,554) Net income
Derivatives
 
     
Interest rate swap contracts $ 182 
 
 $ 546  Interest expense
  182  546 
Income before income tax (b)
  (45)
 
 (134) Income taxes
  $ 137    $ 412  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 10.
(b)For pre-tax items, positive amounts represent income and negative amounts represent expense.