Quarterly report pursuant to Section 13 or 15(d)

Accumulated Other Comprehensive Income

v3.21.2
Accumulated Other Comprehensive Income
 9 Months Ended
Jun. 30, 2021
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 June 30, 2021 and 2020 were as follows:
     Post-retirement benefit plans Currency translation adjustment Derivatives Total
Attributable to Matthews:            
Balance, March 31, 2021   $ (78,575) $ (143,724)   $ (2,194) $ (224,493)
OCI before reclassification   970  2,904    (654) 3,220 
Amounts reclassified from AOCI 2,358 
(a)
 —  596 
(b)
 2,954 
Net current-period OCI 3,328 
 
 2,904 
 
 (58)   6,174 
Balance, June 30, 2021 $ (75,247) $ (140,820)   $ (2,252)   $ (218,319)
Attributable to noncontrolling interest:              
Balance, March 31, 2021   $ —  $ 366    $ —    $ 366 
OCI before reclassification   —  —    —    — 
Net current-period OCI   —  —    —  — 
Balance, June 30, 2021   $ —  $ 366    $ —  $ 366 
Note 11.   Accumulated Other Comprehensive Income (continued)

     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 
(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).


The changes in AOCI by component, net of tax, for the nine-month periods ended June 30, 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   970  11,061    1,787  13,818 
Amounts reclassified from AOCI 6,737 
(a)
 —  1,845 
(b)
 8,582 
Net current-period OCI 7,707 
 
 11,061    3,632  22,400 
Balance, June 30, 2021   $ (75,247) $ (140,820)   $ (2,252) $ (218,319)
Attributable to noncontrolling interest:            
Balance, September 30, 2020   $ —  $ 368    $ —  $ 368 
OCI before reclassification   —  (2)   —  (2)
Net current-period OCI   —  (2)   —  (2)
Balance, June 30, 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   —  (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 
(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)

Reclassifications out of AOCI for the three and nine-month periods ended June 30, 2021 and 2020 were as follows:
  Amount reclassified from AOCI
 
Details about AOCI Components		 Three Months Ended June 30, 2021   Nine Months Ended June 30, 2021 Affected line item in the Statement of income
Postretirement benefit plans           
Prior service credit (a)
$ 137  $ 377   
Actuarial losses (2,730) (8,774) Other income (deductions), net
Prior service cost write-off (526) (526) Other income (deductions), net
  (3,119) (8,923)
Income before income tax (b)
  761 
 
 2,186  Income taxes
  $ (2,358)
 
 $ (6,737) Net income
Derivatives  
 
       
Interest rate swap contracts $ (790)
 
 $ (2,444) Interest expense
  (790) (2,444)
Income before income tax (b)
  194    599  Income taxes
  $ (596)   $ (1,845) Net income
  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 credit (a)
$ 70  $ 210   
Actuarial losses (2,386) (7,159) Other income (deductions), net
  (2,316) (6,949)
Income before income tax (b)
  573 
 
 1,652  Income taxes
  $ (1,743)
 
 $ (5,297) Net income
Derivatives
 
     
Interest rate swap contracts $ (438)
 
 $ 108  Interest expense
  (438) 108 
Income before income tax (b)
  108 
 
 (26) Income taxes
  $ (330)   $ 82  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. For additional information, see Note 10.
(b) For pre-tax items, positive amounts represent income and negative amounts represent expense.