Quarterly report pursuant to Section 13 or 15(d)

Accumulated Other Comprehensive Income

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Accumulated Other Comprehensive Income
6 Months Ended
Mar. 31, 2024
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, 2024 and 2023 were as follows:
     Post-retirement benefit plans Currency translation adjustment Cash Flow Hedges Total
Attributable to Matthews:            
Balance, December 31, 2023   $ 6,680  $ (178,511)   $ 4,151  $ (167,680)
OCI before reclassification   (72) (5,779)   1,983  (3,868)
Amounts reclassified from AOCI (210)
(a)
(247) (499)
(b)
(956)
Net current-period OCI (282)
 
(6,026)
 
1,484    (4,824)
Balance, March 31, 2024 $ 6,398  $ (184,537)   $ 5,635    $ (172,504)
Attributable to noncontrolling interest:              
Balance, December 31, 2023   $ —  $ 288    $ —    $ 288 
OCI before reclassification   —  —    —    — 
Net current-period OCI   —  —    —  — 
Balance, March 31, 2024   $ —  $ 288    $ —  $ 288 

     Post-retirement benefit plans Currency translation adjustment Cash Flow Hedges Total
Attributable to Matthews:            
Balance, December 31, 2022   $ 6,127  $ (182,750)   $ 7,533  $ (169,090)
OCI before reclassification   29  4,663    (1,471) 3,221 
Amounts reclassified from AOCI (205)
(a)
(231) (771)
(b)
(1,207)
Net current-period OCI   (176) 4,432    (2,242) 2,014 
Balance, March 31, 2023   $ 5,951  $ (178,318)   $ 5,291  $ (167,076)
Attributable to noncontrolling interest:            
Balance, December 31, 2022   $ —  $ 259    $ —  $ 259 
OCI before reclassification   —  (5)
 
—  (5)
Net current-period OCI   —  (5)   —  (5)
Balance, March 31, 2023   $ —  $ 254 
 
$ —  $ 254 
(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 8).
Note 12.   Accumulated Other Comprehensive Income (continued)

The changes in AOCI by component, net of tax, for the six-month periods ended March 31, 2024 and 2023 were as follows:
     Post-retirement benefit plans Currency translation adjustment   Cash Flow Hedges Total
Attributable to Matthews:            
Balance, September 30, 2023   $ 6,760  $ (190,196)   $ 9,032  $ (174,404)
OCI before reclassification   59  6,102    (2,406) 3,755 
Amounts reclassified from AOCI (421)
(a)
(443) (991)
(b)
(1,855)
Net current-period OCI (362)
 
5,659    (3,397) 1,900 
Balance, March 31, 2024   $ 6,398  $ (184,537)   $ 5,635  $ (172,504)
Attributable to noncontrolling interest:            
Balance, September 30, 2023   $ —  $ 266    $ —  $ 266 
OCI before reclassification   —  22    —  22 
Net current-period OCI   —  22    —  22 
Balance, March 31, 2024   $ —  $ 288    $ —  $ 288 

     Post-retirement benefit plans Currency translation adjustment   Cash Flow Hedges Total
Attributable to Matthews:            
Balance, September 30, 2022   $ 5,182  $ (203,310)   $ 7,937  $ (190,191)
OCI before reclassification   232  25,426    (1,378) 24,280 
Amounts reclassified from AOCI 537 
(a)
(434) (1,268)
(b)
(1,165)
Net current-period OCI   769  24,992    (2,646) 23,115 
Balance, March 31, 2023   $ 5,951  $ (178,318)   $ 5,291  $ (167,076)
Attributable to noncontrolling interest:            
Balance, September 30, 2022   $ —  $ 255    $ —  $ 255 
OCI before reclassification   —  (1)
 
—  (1)
Net current-period OCI   —  (1)   —  (1)
Balance, March 31, 2023   $ —  $ 254 
 
$ —  $ 254 
(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 8).
Note 12.   Accumulated Other Comprehensive Income (continued)

Reclassifications out of AOCI for the three and six-month periods ended March 31, 2024 and 2023 were as follows:

  Amount reclassified from AOCI
 
Details about AOCI Components
Three Months Ended March 31, 2024   Six Months Ended March 31, 2024 Affected line item in the Statement of income
Postretirement benefit plans           
Prior service credit (a)
$ 91  $ 182   
Actuarial losses 190  381  Other income (deductions), net
  281  563 
Income before income tax (b)
  (71)
 
(142) Income taxes
  $ 210 
 
$ 421  Net income
Derivatives  
 
      
Cash flow hedges $ 668 
 
$ 1,327  Interest expense
Net investment hedges 327  586  Interest expense
  995  1,913 
Income before income tax (b)
  (249)   (479) Income taxes
  $ 746    $ 1,434  Net income
 
 
Details about AOCI Components
Three Months Ended
March 31, 2023
  Six Months Ended
March 31, 2023
Affected line item in the Statement of income
Postretirement benefit plans         
Prior service credit (a)
$ 91  $ 182   
Actuarial losses 183  370  Other income (deductions), net
Settlement losses —  (1,271) Other income (deductions), net
  274  (719)
Income before income tax (b)
(69)
 
182  Income taxes
  $ 205 
 
$ (537) Net income
Derivatives
 
    
Cash flow hedges $ 1,032 
 
$ 1,697  Interest expense
Net investment hedges 309  581  Interest expense
  1,341  2,278 
Income before income tax (b)
  (339)
 
(576) Income taxes
  $ 1,002    $ 1,702  Net income
(a) Prior service cost amounts are included in the computation of pension and other postretirement benefit expense, which is reported in cost of goods sold and selling and administrative expenses. For additional information, see Note 11.
(b) For pre-tax items, positive amounts represent income and negative amounts represent expense.