| Schedule of Changes in AOCI by Component |
The changes in AOCI by component, net of tax, for the three-month periods ended December 31, 2024 and 2023 were as follows:
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Post-retirement benefit plans |
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Currency translation adjustment |
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Cash Flow Hedges |
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Total |
| Attributable to Matthews: |
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| Balance, September 30, 2024 |
|
$ |
4,955 |
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|
$ |
(174,623) |
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|
$ |
926 |
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|
$ |
(168,742) |
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| OCI before reclassification |
|
(181) |
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|
(21,187) |
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|
2,565 |
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|
(18,803) |
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| Amounts reclassified from AOCI |
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(172) |
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(a) |
6,576 |
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|
(350) |
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(b) |
6,054 |
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| Net current-period OCI |
|
(353) |
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|
(14,611) |
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|
2,215 |
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|
(12,749) |
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| Balance, December 31, 2024 |
|
$ |
4,602 |
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|
$ |
(189,234) |
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|
$ |
3,141 |
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|
$ |
(181,491) |
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| Attributable to noncontrolling interest: |
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| Balance, September 30, 2024 |
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$ |
— |
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|
$ |
289 |
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|
$ |
— |
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|
$ |
289 |
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| OCI before reclassification |
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— |
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— |
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— |
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— |
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| Net current-period OCI |
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— |
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— |
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— |
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|
— |
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| Balance, December 31, 2024 |
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$ |
— |
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|
$ |
289 |
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|
$ |
— |
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$ |
289 |
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| |
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Post-retirement benefit plans |
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Currency translation adjustment |
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Cash Flow Hedges |
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Total |
| Attributable to Matthews: |
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| Balance, September 30, 2023 |
|
$ |
6,760 |
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|
$ |
(190,196) |
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|
$ |
9,032 |
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|
$ |
(174,404) |
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| OCI before reclassification |
|
131 |
|
|
11,881 |
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|
(4,389) |
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|
7,623 |
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| Amounts reclassified from AOCI |
|
(211) |
|
(a) |
(196) |
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|
(492) |
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(b) |
(899) |
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| Net current-period OCI |
|
(80) |
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|
11,685 |
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|
(4,881) |
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|
6,724 |
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| Balance, December 31, 2023 |
|
$ |
6,680 |
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|
$ |
(178,511) |
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|
$ |
4,151 |
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|
$ |
(167,680) |
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| Attributable to noncontrolling interest: |
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| Balance, September 30, 2023 |
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$ |
— |
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|
$ |
266 |
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|
$ |
— |
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|
$ |
266 |
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| OCI before reclassification |
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— |
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|
22 |
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|
— |
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|
22 |
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| Net current-period OCI |
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— |
|
|
22 |
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|
— |
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|
22 |
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| Balance, December 31, 2023 |
|
$ |
— |
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|
$ |
288 |
|
|
$ |
— |
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|
$ |
288 |
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(a) Amounts were included in net periodic benefit cost for pension and other postretirement benefit plans.
(b) Amounts were included in interest expense in the periods the hedged item affected earnings (see Note 8).
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| Schedule of Reclassifications out of AOCI |
Reclassifications out of AOCI for the three-month periods ended December 31, 2024 and 2023 were as follows:
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Amount reclassified from AOCI |
Details about AOCI Components |
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Three Months Ended December 31, 2024 |
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Three Months Ended December 31, 2023 |
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Affected line item in the
Financial Statements |
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| Postretirement benefit plans |
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Prior service credit (a)
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$ |
91 |
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$ |
91 |
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| Actuarial losses |
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139 |
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|
191 |
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Other income (deductions), net |
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| |
|
230 |
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|
282 |
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Income before income tax (b)
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| |
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(58) |
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(71) |
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Income taxes |
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$ |
172 |
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$ |
211 |
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Net income |
| Derivatives |
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| Cash flow hedges |
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$ |
468 |
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$ |
659 |
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Interest expense |
| Net investment hedges |
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354 |
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|
259 |
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Interest expense |
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|
822 |
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|
918 |
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Income before income tax (b)
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| |
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(204) |
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(230) |
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Income taxes |
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|
$ |
618 |
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$ |
688 |
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Net income |
| Other |
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| Divestitures |
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$ |
(6,844) |
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$ |
— |
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Other current liabilities (c)
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(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.
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(b) For pre-tax items, positive amounts represent income and negative amounts represent expense.
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(c) Reflects the release of a reserve that was established for currency translation amounts related to certain net assets classified as held-for-sale as of September 30, 2024. See Note 14, "Acquisitions and Divestitures."
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