Annual report pursuant to Section 13 and 15(d)

ACCUMULATED OTHER COMPREHENSIVE INCOME (Tables)

v3.20.2
ACCUMULATED OTHER COMPREHENSIVE INCOME (Tables)
12 Months Ended
Sep. 30, 2020
Equity [Abstract]  
Change in AOCI by Component, Net of Tax
The changes in AOCI by component, net of tax, for the years ended September 30, 2020, 2019, and 2018 were as follows:
    Postretirement 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 10,584  (22,053)   6,095  (5,374)
Amounts reclassified from AOCI 5,047 
(a)
—  (1,042)
(b)
4,005 
Net current-period OCI 15,631  (22,053) 5,053 
 
(1,369)
Reclassification of AOCI tax effects (9,884)
(c)
—  1,070 
(c)
(8,814)
Balance, September 30, 2018 $ (37,876) $ (134,960) $ 8,538 
 
$ (164,298)
OCI before reclassification (36,784) (21,254) (6,540)
 
(64,578)
Amounts reclassified from AOCI 2,917 
(a)
—  (2,402)
(b)
515 
Net current-period OCI (33,867) (21,254) (8,942)
 
(64,063)
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)
Attributable to noncontrolling interest:            
Balance, September 30, 2017 $ —  $ 396    $ —  $ 396 
OCI before reclassification —  71    —  71 
Net current-period OCI —  71    —  71 
Balance, September 30, 2018 —  467    —  467 
OCI before reclassification —  (92)   —  (92)
Net current-period OCI —  (92)   —  (92)
Balance, September 30, 2019   —  375    —  375 
OCI before reclassification   —  (7)   —  (7)
Net current-period OCI   —  (7)   —  (7)
Balance, September 30, 2020   $ —  $ 368    $ —  $ 368 
(a)Amounts were included in net periodic benefit cost for pension and other postretirement benefit plans (see Note 14).
(b)Amounts were included in interest expense in the periods the hedged item affected earnings (see Note 9).
(c)Amounts were reclassified from AOCI to retained earnings through adoption of ASU 2018-02, Income Statement - Reporting Comprehensive Income (Topic 220) (see Note 3).

Accumulated other comprehensive loss at September 30, 2020 and 2019 consisted of the following:
  2020 2019
Cumulative foreign currency translation $ (151,881) $ (156,214)
Fair value of derivatives, net of tax of $1,908 and $131, respectively
(5,884) (404)
Minimum pension liabilities, net of tax of $26,988 and $23,195, respectively
(82,954) (71,743)
  $ (240,719) $ (228,361)
Reclassifications out of AOCI
Reclassifications out of AOCI for the years ended September 30, 2020, 2019 and 2018 were as follows:

 Details about AOCI Components
  September 30, 2020 September 30, 2019 September 30, 2018 Affected line item in the Statement of Income
Postretirement benefit plans      
Prior service (cost) credit (a)
$ 650  $ 381  $ 333   
Actuarial losses (a)
(9,767) (4,245) (7,018)  
  (9,117) (3,864) (6,685)
Income before income tax (b)
  2,234  947  1,638  Income taxes
  $ (6,883) $ (2,917) $ (5,047) Net income
Derivatives          
Interest rate swap contracts $ (861) $ 3,181  $ 1,380  Interest expense
  (861) 3,181  1,380 
Income before income tax (b)
    211  (779) (338) Income taxes
    $ (650) $ 2,402  $ 1,042  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 14.
(b)For pre-tax items, positive amounts represent income and negative amounts represent expense.