| Deferred Components of OCI Reported, Net of Related Income Taxes, in AOCI in Stockholders' Equity and Changes in AOCI |
The following table presents deferred components of AOCL in equity, net of related taxes:
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| (In thousands) |
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December 2020 |
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December 2019 |
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December 2018 |
| Foreign currency translation |
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$ |
(80,178) |
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$ |
(84,118) |
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$ |
(145,182) |
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| Defined benefit pension plans |
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(1,889) |
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(2,301) |
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— |
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| Derivative financial instruments |
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(12,740) |
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6,721 |
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— |
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| Accumulated other comprehensive loss |
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$ |
(94,807) |
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$ |
(79,698) |
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$ |
(145,182) |
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The following table presents changes in AOCL and related tax impact:
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| (In thousands) |
Foreign Currency Translation |
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Defined
Benefit
Pension Plans |
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Derivative
Financial
Instruments |
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Total |
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| Balance, December 2017 |
$ |
(122,482) |
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$ |
—
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$ |
—
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$ |
(122,482) |
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Other comprehensive income (loss) |
(22,700) |
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— |
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— |
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(22,700) |
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Net other comprehensive income (loss) |
(22,700) |
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— |
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— |
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(22,700) |
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| Balance, December 2018 |
$ |
(145,182) |
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$ |
—
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$ |
—
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$ |
(145,182) |
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| Other comprehensive income (loss) before reclassifications |
3,167 |
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(2,010) |
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1,729 |
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2,886 |
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| Amounts reclassified from accumulated other comprehensive income (loss) |
— |
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— |
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(7,380) |
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(7,380) |
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| Net other comprehensive income (loss) |
3,167 |
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(2,010) |
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(5,651) |
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(4,494) |
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| Amounts transferred from former parent |
57,897 |
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(1,058) |
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11,645 |
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68,484 |
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| Income taxes |
— |
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767 |
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727 |
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1,494 |
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| Balance, December 2019 |
(84,118) |
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(2,301) |
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6,721
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(79,698) |
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| Other comprehensive income (loss) before reclassifications |
3,940 |
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490 |
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(26,417) |
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(21,987) |
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| Amounts reclassified from accumulated other comprehensive income (loss) |
— |
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59 |
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2,142 |
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2,201 |
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| Net other comprehensive income (loss) |
3,940 |
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549 |
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(24,275) |
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(19,786) |
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| Income taxes |
— |
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(137) |
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4,814 |
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4,677 |
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| Balance, December 2020 |
$ |
(80,178) |
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$ |
(1,889) |
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$ |
(12,740) |
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$ |
(94,807) |
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| Reclassifications Out of AOCI |
The following table presents reclassifications out of AOCL:
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| (In thousands) |
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Year Ended December |
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| Details About Accumulated Other Comprehensive Loss Reclassifications |
Affected Line Item in the Financial Statements |
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2020 |
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2019 |
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2018 |
| Defined benefit pension plans: |
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| Net change in deferred losses (gains) during the period |
Selling, general and administrative expenses |
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$ |
(59) |
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$ |
— |
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$ |
— |
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| Total before tax |
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(59) |
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— |
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— |
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| Income taxes |
Income taxes |
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15 |
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— |
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— |
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| Net of tax |
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(44) |
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— |
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— |
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| Gains (losses) on derivative financial instruments: |
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| Foreign currency exchange contracts |
Net revenues |
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$ |
(458) |
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$ |
(844) |
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$ |
— |
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| Foreign currency exchange contracts |
Cost of goods sold |
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3,171 |
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6,745 |
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— |
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| Foreign currency exchange contracts |
Other expense, net |
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149 |
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343 |
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— |
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| Interest rate swap agreements |
Interest expense |
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(5,004) |
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1,136 |
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— |
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| Total before tax |
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(2,142) |
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7,380 |
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— |
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| Income taxes |
Income taxes |
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600 |
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(706) |
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— |
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| Net of tax |
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(1,542) |
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6,674 |
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— |
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| Total reclassifications for the period, net of tax |
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$ |
(1,586) |
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$ |
6,674
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$ |
—
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