| Deferred Components of AOCL in Equity, Net of Related Taxes, and Changes in AOCL |
The following table presents deferred components of AOCL in equity, net of related taxes:
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| (In thousands) |
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June 2021 |
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December 2020 |
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June 2020 |
| Foreign currency translation |
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$ |
(83,192) |
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$ |
(80,178) |
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$ |
(108,129) |
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| Defined benefit pension plans |
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(1,826) |
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(1,889) |
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(2,289) |
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| Derivative financial instruments |
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(3,951) |
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(12,740) |
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(20,880) |
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| Accumulated other comprehensive loss |
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$ |
(88,969) |
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$ |
(94,807) |
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$ |
(131,298) |
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The following tables present changes in AOCL, net of related tax impact:
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Three Months Ended June 2021 |
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Foreign Currency Translation |
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Defined Benefit Pension Plans |
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Derivative Financial Instruments |
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| (In thousands) |
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Total |
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| Balance, March 2021 |
$ |
(87,260) |
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$ |
(1,815) |
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$ |
(7,622) |
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$ |
(96,697) |
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| Other comprehensive income (loss) due to gains (losses) arising before reclassifications |
4,068 |
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— |
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1,348 |
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5,416 |
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| Reclassifications to net income (loss) of previously deferred (gains) losses |
— |
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(11) |
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2,323 |
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2,312 |
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| Net other comprehensive income (loss) |
4,068 |
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(11) |
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3,671 |
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7,728 |
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| Balance, June 2021 |
$ |
(83,192) |
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$ |
(1,826) |
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$ |
(3,951) |
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$ |
(88,969) |
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Three Months Ended June 2020 |
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Foreign Currency Translation |
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Defined Benefit Pension Plans |
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Derivative Financial Instruments |
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| (In thousands) |
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Total |
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| Balance, March 2020 |
$ |
(111,328) |
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$ |
(2,272) |
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$ |
(19,862) |
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$ |
(133,462) |
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| Other comprehensive income (loss) due to gains (losses) arising before reclassifications |
3,199 |
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(27) |
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(820) |
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2,352 |
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| Reclassifications to net income (loss) of previously deferred (gains) losses |
— |
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10 |
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(198) |
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(188) |
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| Net other comprehensive income (loss) |
3,199 |
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(17) |
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(1,018) |
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2,164 |
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| Balance, June 2020 |
$ |
(108,129) |
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$ |
(2,289) |
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$ |
(20,880) |
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$ |
(131,298) |
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Six Months Ended June 2021 |
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Foreign Currency Translation |
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Defined Benefit Pension Plans |
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Derivative Financial Instruments |
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| (In thousands) |
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Total |
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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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| Other comprehensive income (loss) before reclassifications |
(3,014) |
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— |
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4,197 |
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1,183 |
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| Amounts reclassified from accumulated other comprehensive income (loss) |
— |
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63 |
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4,592 |
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4,655 |
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| Net other comprehensive income (loss) |
(3,014) |
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63 |
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8,789 |
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5,838 |
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| Balance, June 2021 |
$ |
(83,192) |
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$ |
(1,826) |
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$ |
(3,951) |
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$ |
(88,969) |
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Six Months Ended June 2020 |
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Foreign Currency Translation |
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Defined Benefit Pension Plans |
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Derivative Financial Instruments |
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| (In thousands) |
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Total |
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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 |
(24,011) |
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(8) |
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(24,475) |
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(48,494) |
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| Amounts reclassified from accumulated other comprehensive income (loss) |
— |
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20 |
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(3,126) |
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(3,106) |
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| Net other comprehensive income (loss) |
(24,011) |
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12 |
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(27,601) |
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(51,600) |
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| Balance, June 2020 |
$ |
(108,129) |
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$ |
(2,289) |
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$ |
(20,880) |
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$ |
(131,298) |
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| Reclassification out of AOCL |
The following table presents reclassifications out of AOCL:
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| (In thousands) |
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Three Months Ended June |
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Six Months Ended June |
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| Details About Accumulated Other Comprehensive Loss Reclassifications |
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Affected Line Item in the Financial Statements |
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2021 |
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2020 |
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2021 |
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2020 |
| Defined benefit pension plans: |
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| Net change in deferred losses during the period |
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Selling, general and administrative expenses |
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$ |
14 |
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$ |
(14) |
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$ |
(85) |
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$ |
(28) |
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| Total before tax |
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14 |
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(14) |
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(85) |
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(28) |
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| Income taxes |
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Income taxes |
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(3) |
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4 |
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22 |
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8 |
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| Net of tax |
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11 |
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(10) |
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(63) |
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(20) |
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| Gains (losses) on derivative financial instruments: |
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| Foreign currency exchange contracts |
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Net revenues |
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$ |
125 |
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$ |
(194) |
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$ |
200 |
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$ |
(552) |
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| Foreign currency exchange contracts |
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Cost of goods sold |
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(1,428) |
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1,615 |
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(2,833) |
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5,356 |
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| Foreign currency exchange contracts |
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Other expense, net |
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(293) |
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141 |
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(427) |
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137 |
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| Interest rate swap agreements |
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Interest expense |
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(1,494) |
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(1,349) |
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(3,007) |
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(1,580) |
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| Total before tax |
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(3,090) |
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213 |
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(6,067) |
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3,361 |
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| Income taxes |
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Income taxes |
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767 |
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(15) |
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1,475 |
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(235) |
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| Net of tax |
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(2,323) |
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198 |
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(4,592) |
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3,126 |
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| Total reclassifications for the period, net of tax |
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$ |
(2,312) |
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$ |
188
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$ |
(4,655) |
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$ |
3,106
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