Quarterly report pursuant to Section 13 or 15(d)

Accumulated Other Comprehensive Income (Tables)

v3.22.2
Accumulated Other Comprehensive Income (Tables)
 9 Months Ended
Jun. 30, 2022
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, 2022 and 2021 were as follows:
     Post-retirement benefit plans Currency translation adjustment Derivatives Total
Attributable to Matthews:            
Balance, March 31, 2022   $ (1,824) $ (163,421)   $ 4,015  $ (161,230)
OCI before reclassification   69  (19,293)   1,223  (18,001)
Amounts reclassified from AOCI (52)
(a)
 —  353 
(b)
 301 
Net current-period OCI 17 
 
 (19,293)
 
 1,576    (17,700)
Balance, June 30, 2022 $ (1,807) $ (182,714)   $ 5,591    $ (178,930)
Attributable to noncontrolling interest:              
Balance, March 31, 2022   $ —  $ 249    $ —    $ 249 
OCI before reclassification   —  15    —    15 
Net current-period OCI   —  15    —  15 
Balance, June 30, 2022   $ —  $ 264    $ —  $ 264 

     Post-retirement benefit plans Currency translation adjustment Derivatives Total
Attributable to Matthews:            
Balance, March 31, 2021   $ (78,575) $ (143,724)   $ (2,194) $ (224,493)
OCI before reclassification   970  2,904    (654) 3,220 
Amounts reclassified from AOCI 2,358 
(a)
 —  596 
(b)
 2,954 
Net current-period OCI   3,328  2,904    (58) 6,174 
Balance, June 30, 2021   $ (75,247) $ (140,820)   $ (2,252) $ (218,319)
Attributable to noncontrolling interest:            
Balance, March 31, 2021   $ —  $ 366    $ —  $ 366 
OCI before reclassification   —  — 
 
 —  — 
Net current-period OCI   —  —    —  — 
Balance, June 30, 2021   $ —  $ 366 
 
 $ —  $ 366 
(a) Amounts were included in net periodic benefit cost for pension and other postretirement benefit plans (see Note 10).
(b) Amounts were included in interest expense in the periods the hedged item affected earnings (see Note 7).
Note 11.   Accumulated Other Comprehensive Income (continued)

The changes in AOCI by component, net of tax, for the nine-month periods ended June 30, 2022 and 2021 were as follows:
     Post-retirement benefit plans Currency translation adjustment   Derivatives Total
Attributable to Matthews:            
Balance, September 30, 2021   $ (35,930) $ (155,251)   $ (1,558) $ (192,739)
OCI before reclassification   10,810  (27,463)   5,636  (11,017)
Amounts reclassified from AOCI 23,313 
(a)
 —  1,513 
(b)
 24,826 
Net current-period OCI 34,123 
 
 (27,463)   7,149  13,809 
Balance, June 30, 2022   $ (1,807) $ (182,714)   $ 5,591  $ (178,930)
Attributable to noncontrolling interest:            
Balance, September 30, 2021   $ —  $ 241    $ —  $ 241 
OCI before reclassification   —  23    —  23 
Net current-period OCI   —  23    —  23 
Balance, June 30, 2022   $ —  $ 264    $ —  $ 264 
     Post-retirement benefit plans Currency translation adjustment   Derivatives Total
Attributable to Matthews:            
Balance, September 30, 2020   $ (82,954) $ (151,881)   $ (5,884) $ (240,719)
OCI before reclassification   970  11,061    1,787  13,818 
Amounts reclassified from AOCI 6,737 
(a)
 —  1,845 
(b)
 8,582 
Net current-period OCI   7,707  11,061    3,632  22,400 
Balance, June 30, 2021   $ (75,247) $ (140,820)   $ (2,252) $ (218,319)
Attributable to noncontrolling interest:            
Balance, September 30, 2020   $ —  $ 368    $ —  $ 368 
OCI before reclassification   —  (2)
 
 —  (2)
Net current-period OCI   —  (2)   —  (2)
Balance, June 30, 2021   $ —  $ 366 
 
 $ —  $ 366 
(a) Amounts were included in net periodic benefit cost for pension and other postretirement benefit plans (see Note 10).
(b) Amounts were included in interest expense in the periods the hedged item affected earnings (see Note 7).
Reclassifications out of AOCI
Reclassifications out of AOCI for the three and nine-month periods ended June 30, 2022 and 2021 were as follows:
  Amount reclassified from AOCI
 
Details about AOCI Components		 Three Months Ended June 30, 2022   Nine Months Ended June 30, 2022 Affected line item in the Statement of income
Postretirement benefit plans           
Prior service credit (a)
$ 157  $ 358   
Actuarial losses (88) (380) Other income (deductions), net
Settlement loss —  (30,856) Other income (deductions), net
  69  (30,878)
Income before income tax (b)
  (17)
 
 7,565  Income taxes
  $ 52 
 
 $ (23,313) Net income
Derivatives  
 
       
Interest rate swap contracts $ (470)
 
 $ (2,006) Interest expense
  (470) (2,006)
Income before income tax (b)
  117    493  Income taxes
  $ (353)   $ (1,513) Net income
 
 
Details about AOCI Components		 Three Months Ended
June 30, 2021		   Nine Months Ended
June 30, 2021		 Affected line item in the Statement of income
Postretirement benefit plans         
Prior service credit (a)
$ 137  $ 377   
Actuarial losses (2,730) (8,774) Other income (deductions), net
Prior service cost write-off (526) (526) Other income (deductions), net
  (3,119) (8,923)
Income before income tax (b)
761 
 
 2,186  Income taxes
  $ (2,358)
 
 $ (6,737) Net income
Derivatives  
 
     
Interest rate swap contracts $ (790)
 
 $ (2,444) Interest expense
  (790) (2,444)
Income before income tax (b)
  194 
 
 599  Income taxes
  $ (596)   $ (1,845) 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. For additional information, see Note 10.
(b) For pre-tax items, positive amounts represent income and negative amounts represent expense.