Quarterly report pursuant to Section 13 or 15(d)

Accumulated Other Comprehensive Income

v3.22.1
Accumulated Other Comprehensive Income
 6 Months Ended
Mar. 31, 2022
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, 2022 and 2021 were as follows:
     Post-retirement benefit plans Currency translation adjustment Derivatives Total
Attributable to Matthews:            
Balance, December 31, 2021   $ (1,797) $ (157,240)   $ (77) $ (159,114)
OCI before reclassification   23  (6,181)   3,538  (2,620)
Amounts reclassified from AOCI (50)
(a)
 —  554 
(b)
 504 
Net current-period OCI (27)
 
 (6,181)
 
 4,092    (2,116)
Balance, March 31, 2022 $ (1,824) $ (163,421)   $ 4,015    $ (161,230)
Attributable to noncontrolling interest:              
Balance, December 31, 2021   $ —  $ 245    $ —    $ 245 
OCI before reclassification   —  4    —    4 
Net current-period OCI   —  4    —  4 
Balance, March 31, 2022   $ —  $ 249    $ —  $ 249 

     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 
(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, 2022 and 2021 were as follows:
     Post-retirement benefit plans Currency translation adjustment   Derivatives Total
Attributable to Matthews:            
Balance, September 30, 2021   $ (35,930) $ (155,251)   $ (1,558) $ (192,739)
OCI before reclassification   10,741  (8,170)   4,413  6,984 
Amounts reclassified from AOCI 23,365 
(a)
 —  1,160 
(b)
 24,525 
Net current-period OCI 34,106 
 
 (8,170)   5,573  31,509 
Balance, March 31, 2022   $ (1,824) $ (163,421)   $ 4,015  $ (161,230)
Attributable to noncontrolling interest:            
Balance, September 30, 2021   $ —  $ 241    $ —  $ 241 
OCI before reclassification   —  8    —  8 
Net current-period OCI   —  8    —  8 
Balance, March 31, 2022   $ —  $ 249    $ —  $ 249 
     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 
(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 six-month periods ended March 31, 2022 and 2021 were as follows:
  Amount reclassified from AOCI
 
Details about AOCI Components		 Three Months Ended March 31, 2022   Six Months Ended March 31, 2022 Affected line item in the Statement of income
Postretirement benefit plans           
Prior service credit (a)
$ 157  $ 201   
Actuarial losses (91) (292) Other income (deductions), net
Settlement loss —  (30,856) Other income (deductions), net
  66  (30,947)
Income before income tax (b)
  (16)
 
 7,582  Income taxes
  $ 50 
 
 $ (23,365) Net income
Derivatives  
 
       
Interest rate swap contracts $ (735)
 
 $ (1,536) Interest expense
  (735) (1,536)
Income before income tax (b)
  181    376  Income taxes
  $ (554)   $ (1,160) Net income
 
 
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 (3,023) (6,044) Other income (deductions), net
  (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
(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.