Quarterly report pursuant to Section 13 or 15(d)

Accumulated Other Comprehensive Income (Tables)

v3.19.2
Accumulated Other Comprehensive Income (Tables)
9 Months Ended
Jun. 30, 2019
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Changes in AOCI by Component

The changes in AOCI by component, net of tax, for the three-month periods ended June 30, 2019 and 2018 were as follows:
 
  
Post-retirement benefit plans
 
Currency translation adjustment
 
Derivatives
 
Total
Attributable to Matthews:
 
 
 
 
 
 
 
 
Balance, March 31, 2019
 
$
(36,413
)
 
$
(147,390
)
 
$
3,617

 
$
(180,186
)
OCI before reclassification
 

 
2,639

 
(2,372
)
 
267

Amounts reclassified from AOCI
 
705

(a) 

 
(660
)
(b) 
45

Net current-period OCI
 
705

  
2,639

  
(3,032
)
 
312

Balance, June 30, 2019
 
$
(35,708
)
 
$
(144,751
)
 
$
585

 
$
(179,874
)
Attributable to noncontrolling interest:
 
 

 
 

 
 

 
 

Balance, March 31, 2019
 

 
$
473

 

 
$
473

OCI before reclassification
 

 
(5
)
 

 
(5
)
Net current-period OCI
 

 
(5
)
 

 
(5
)
Balance, June 30, 2019
 

 
468

 

 
468


 
  
Post-retirement benefit plans
 
Currency translation adjustment
 
Derivatives
 
Total
Attributable to Matthews:
 
 
 
 
 
 
 
 
Balance, March 31, 2018
 
$
(41,583
)
 
$
(93,896
)
 
$
7,137

 
$
(128,342
)
OCI before reclassification
 

 
(38,669
)
 
393

 
(38,276
)
Amounts reclassified from AOCI
 
1,256

(a) 

 
(399
)
(b) 
857

Net current-period OCI
 
1,256

 
(38,669
)
 
(6
)
 
(37,419
)
Reclassification of AOCI tax effects
 
(9,884
)
(c) 

 
1,070

(c) 
(8,814
)
Balance, June 30, 2018
 
$
(50,211
)
 
$
(132,565
)
 
$
8,201

 
$
(174,575
)
Attributable to noncontrolling interest:
 
 

 
 

 
 

 
 

Balance, March 31, 2018
 

 
$
499

 

 
$
499

OCI before reclassification
 

 
(23
)
  

 
(23
)
Net current-period OCI
 

 
(23
)
 

 
(23
)
Balance, June 30, 2018
 

 
476

  

 
476


(a) 
Amounts were included in net periodic benefit cost for pension and other postretirement benefit plans (see Note 9).
(b) 
Amounts were included in interest expense in the periods the hedged item affected earnings (see Note 6).
(c) 
Amounts were reclassified from AOCI to retained earnings through adoption of ASU 2018-02, Income Statement - Reporting Comprehensive Income (Topic 220).












Note 10.   Accumulated Other Comprehensive Income (continued)

The changes in AOCI by component, net of tax, for the nine-month periods ended June 30, 2019 and 2018 were as follows:
 
 
 
 
 
 
 
 
 
 
  
Post-retirement benefit plans
 
Currency translation adjustment
 
Derivatives
 
Total
Attributable to Matthews:
 
 
 
 
 
 
 
 
Balance, September 30, 2018
 
$
(37,876
)
 
$
(134,960
)
 
$
8,538

 
$
(164,298
)
OCI before reclassification
 

 
(9,791
)
 
(6,074
)
 
(15,865
)
Amounts reclassified from AOCI
 
2,168

(a) 

 
(1,879
)
(b) 
289

Net current-period OCI
 
2,168

  
(9,791
)
 
(7,953
)
 
(15,576
)
Balance, June 30, 2019
 
$
(35,708
)
 
$
(144,751
)
 
$
585

 
$
(179,874
)
Attributable to noncontrolling interest:
 
 

 
 

 
 

 
 

Balance, September 30, 2018
 

 
$
467

 

 
$
467

OCI before reclassification
 

 
1

 

 
1

Net current-period OCI
 

 
1

 

 
1

Balance, June 30, 2019
 

 
468

 

 
468

 
 
 
 
 
 
 
 
 
 
  
Post-retirement benefit plans
 
Currency translation adjustment
 
Derivatives
 
Total
Attributable to Matthews:
 
 
 
 
 
 
 
 
Balance, September 30, 2017
 
$
(43,623
)
 
$
(112,907
)
 
$
2,415

 
$
(154,115
)
OCI before reclassification
 

 
(19,658
)
 
5,286

 
(14,372
)
Amounts reclassified from AOCI
 
3,296

(a) 

 
(570
)
(b) 
2,726

Net current-period OCI
 
3,296

 
(19,658
)
 
4,716

 
(11,646
)
Reclassification of AOCI tax effects
 
(9,884
)
(c) 

 
1,070

(c) 
(8,814
)
Balance, June 30, 2018
 
$
(50,211
)
 
$
(132,565
)
 
$
8,201

 
$
(174,575
)
Attributable to noncontrolling interest:
 
 

 
 

 
 

 
 

Balance, September 30, 2017
 

 
$
396

 

 
$
396

OCI before reclassification
 

 
80

  

 
80

Net current-period OCI
 

 
80

 

 
80

Balance, June 30, 2018
 

 
476

  

 
476


(a) 
Amounts were included in net periodic benefit cost for pension and other postretirement benefit plans (see Note 9).
(b) 
Amounts were included in interest expense in the periods the hedged item affected earnings (see Note 6).
(c) 
Amounts were reclassified from AOCI to retained earnings through adoption of ASU 2018-02, Income Statement - Reporting Comprehensive Income (Topic 220).
Reclassifications out of AOCI
Reclassifications out of AOCI for the three and nine-month periods ended June 30, 2019 were as follows:
 
 
 
 
 
 
 
 
 
 
Amount reclassified from AOCI
 
Details about AOCI Components
 
Three Months Ended June 30, 2019
 
Nine Months Ended June 30, 2019
 
Affected line item in the Statement of income
 
 
 
 
 
 
 
Postretirement benefit plans
 
 
 
 
 
    
Prior service (cost) credit
 
$
95

(a) 
$
285

 
 
Actuarial losses
 
(1,066
)
(a) 
(3,197
)
 
 
 
 
(971
)
(b) 
(2,912
)
 
Income before income tax
 
 
266

  
744

 
Income taxes
 
 
$
(705
)
  
$
(2,168
)
 
Net income
Derivatives
 
 

  
 

 
    
Interest rate swap contracts
 
$
874

  
$
2,489

 
Interest expense
 
 
874

(b) 
2,489

 
Income before income tax
 
 
(214
)
 
(610
)
 
Income taxes
 
 
$
660

 
$
1,879

 
Net income

Reclassifications out of AOCI for the three and nine-month periods ended June 30, 2018 were as follows:
 
 
 
Amount reclassified from AOCI
 
Details about AOCI Components
 
Three Months Ended June 30, 2018
 
Nine Months Ended
June 30, 2018
 
Affected line item in the Statement of income
 
 
 
 
 
 
 
Postretirement benefit plans
 
 
 
 
 
    
Prior service (cost) credit
 
$
84

(a) 
$
252

 
 
Actuarial losses
 
(1,753
)
(a) 
(5,257
)
 
 
 
 
(1,669
)
(b) 
(5,005
)
 
Income before income tax
 
 
413

  
1,709

 
Income taxes
 
 
$
(1,256
)
  
$
(3,296
)
 
Net income
Derivatives
 
 

  
 

 
    
Interest rate swap contracts
 
$
490

  
$
755

 
Interest expense
 
 
490

(b) 
755

 
Income before income tax
 
 
(91
)
  
(185
)
 
Income taxes
 
 
$
399

 
$
570

 
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.  Actuarial losses are reported in other income (deductions), net. For additional information, see Note 9.
(b) 
For pre-tax items, positive amounts represent income and negative amounts represent expense.