Annual report pursuant to Section 13 and 15(d)

ACCUMULATED OTHER COMPREHENSIVE INCOME

v3.22.2.2
ACCUMULATED OTHER COMPREHENSIVE INCOME
12 Months Ended
Sep. 30, 2022
Equity [Abstract]  
ACCUMULATED OTHER COMPREHENSIVE INCOME ACCUMULATED OTHER COMPREHENSIVE INCOME:
The changes in AOCI by component, net of tax, for the years ended September 30, 2022, 2021, and 2020 were as follows:
    Postretirement Benefit Plans Currency Translation Adjustment   Cash Flow Hedges Total
Attributable to Matthews:    
Balance, September 30, 2019 $ (71,743) $ (156,214)   $ (404) $ (228,361)
OCI before reclassification (18,094) 4,333    (6,130) (19,891)
Amounts reclassified from AOCI 6,883 
(a)
—  650 
(b)
7,533 
Net current-period OCI (11,211) 4,333  (5,480)
 
(12,358)
Balance, September 30, 2020 $ (82,954) $ (151,881) $ (5,884)
 
$ (240,719)
OCI before reclassification 39,822  (3,322) 1,873 
 
38,373 
Amounts reclassified from AOCI 7,202 
(a)
(48)
(b)
2,453 
(b)
9,607 
Net current-period OCI 47,024  (3,370)
 
4,326 
 
47,980 
Balance, September 30, 2021 $ (35,930)
 
$ (155,251)
 
$ (1,558)
 
$ (192,739)
OCI before reclassification 17,851 
 
(46,817)
 
8,148 
 
(20,818)
Amounts reclassified from AOCI 23,261 
(a)
(1,242)
(b)
1,347 
(b)
23,366 
Net current-period OCI 41,112 
 
(48,059)
 
9,495  2,548 
Balance, September 30, 2022 $ 5,182  $ (203,310)
 
$ 7,937  $ (190,191)
Attributable to noncontrolling interest:            
Balance, September 30, 2019 $ —  $ 375    $ —  $ 375 
OCI before reclassification —  (7)   —  (7)
Net current-period OCI —  (7)   —  (7)
Balance, September 30, 2020 $ —  $ 368    $ —  $ 368 
OCI before reclassification —  (127)   —  (127)
Net current-period OCI —  (127)   —  (127)
Balance, September 30, 2021   $ —  $ 241    $ —  $ 241 
OCI before reclassification   —  14    —  14 
Net current-period OCI   —  14    —  14 
Balance, September 30, 2022   $ —  $ 255    $ —  $ 255 
(a)Amounts were included in net periodic benefit cost for pension and other postretirement benefit plans (see Note 15).
(b)Amounts were included in interest expense in the periods the hedged item affected earnings (see Note 11).

Accumulated other comprehensive loss at September 30, 2022 and 2021 consisted of the following:
  2022 2021
Cumulative foreign currency translation $ (203,310) $ (155,251)
Fair value of cash flow hedges, net of tax of $2,762 and $504, respectively
7,937  (1,558)
Minimum pension liabilities, net of tax of $1,786 and $11,638, respectively
5,182  (35,930)
  $ (190,191) $ (192,739)
Reclassifications out of AOCI for the years ended September 30, 2022, 2021 and 2020 were as follows:

 Details about AOCI Components
  September 30, 2022 September 30, 2021 September 30, 2020 Affected line item in the Statement of Income
Postretirement benefit plans      
Prior service (cost) credit (a)
$ 516  $ 491  $ 650   
Actuarial losses (469) (9,769) (9,767) Other income (deductions), net
Prior service cost write-off —  (261) —  Other income (deductions), net
Settlement loss (30,856) —  —  Other income (deductions), net
  (30,809) (9,539) (9,117)
Income before income tax (b)
  7,548  2,337  2,234  Income taxes
  $ (23,261) $ (7,202) $ (6,883) Net income
Derivatives          
Cash flow hedges $ (1,786) $ (3,249) $ (861) Interest expense
Net investment hedges 1,645  63  —  Interest expense
  (141) (3,186) (861)
Income before income tax (b)
    36  781  211  Income taxes
    $ (105) $ (2,405) $ (650) 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 15.
(b)For pre-tax items, positive amounts represent income and negative amounts represent expense.