Quarterly report pursuant to Section 13 or 15(d)

Accumulated Other Comprehensive Income

v3.10.0.1
Accumulated Other Comprehensive Income
9 Months Ended
Jun. 30, 2018
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income

The changes in AOCI by component, net of tax, for the three-month periods ended June 30, 2018 and 2017 were as follows:
 
  
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
(a)
1,256

 

(b)
(399
)
 
857

Net current-period OCI
 
1,256

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

(c)
1,070

 
(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


 
 
 
 
 
 
 
 
 
 
  
Post-retirement benefit plans
 
Currency translation adjustment
 
Derivatives
 
Total
Attributable to Matthews:
 
 
 
 
 
 
 
 
Balance, March 31, 2017
 
$
(53,052
)
 
$
(149,493
)
 
$
2,707

 
$
(199,838
)
OCI before reclassification
 

 
32,261

 
(353
)
 
31,908

Amounts reclassified from AOCI
(a)
1,422

 

(b)
(187
)
 
1,235

Net current-period OCI
 
1,422

 
32,261

 
(540
)
 
33,143

Balance, June 30, 2017
 
$
(51,630
)
 
$
(117,232
)
 
$
2,167

 
$
(166,695
)
Attributable to noncontrolling interest:
 
 

 
 

 
 

 
 

Balance, March 31, 2017
 

 
$
345

 

 
$
345

OCI before reclassification
 

 
121

 

 
121

Net current-period OCI
 

 
121

 

 
121

Balance, June 30, 2017
 

 
$
466

 

 
$
466


(a)
Amounts were included in net periodic benefit cost for pension and other postretirement benefit plans (see Note 8).
(b)
Amounts were included in interest expense in the periods the hedged item affected earnings (see Note 5).
(c)
Amounts were reclassified from AOCI to retained earnings through adoption of ASU 2018-02 (see Note 2).


Note 9.   Accumulated Other Comprehensive Income (continued)

The changes in AOCI by component, net of tax, for the nine-month periods ended June 30, 2018 and 2017 were as follows:
 
  
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
(a)
3,296

 

(b)
(570
)
 
2,726

Net current-period OCI
 
3,296

 
(19,658
)
 
4,716

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

(c)
1,070

 
(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


 
  
Post-retirement benefit plans
 
Currency translation adjustment
 
Derivatives
 
Total
Attributable to Matthews:
 
 
 
 
 
 
 
 
Balance, September 30, 2016
 
$
(56,050
)
 
$
(122,259
)
 
$
(3,559
)
 
$
(181,868
)
OCI before reclassification
 

 
5,027

 
6,712

 
11,739

Amounts reclassified from AOCI
(a)
4,420

 

(b)
(986
)
 
3,434

Net current-period OCI
 
4,420

 
5,027

 
5,726

 
15,173

Balance, June 30, 2017
 
$
(51,630
)
 
$
(117,232
)
 
$
2,167

 
$
(166,695
)
Attributable to noncontrolling interest:
 
 

 
 

 
 

 
 

Balance, September 30, 2016
 

 
$
277

 

 
$
277

OCI before reclassification
 

 
189

 

 
189

Net current-period OCI
 

 
189

 

 
189

Balance, June 30, 2017
 

 
$
466

 

 
$
466


(a)
Amounts were included in net periodic benefit cost for pension and other postretirement benefit plans (see Note 8).
(b)
Amounts were included in interest expense in the periods the hedged item affected earnings (see Note 5).
(c)
Amounts were reclassified from AOCI to retained earnings through adoption of ASU 2018-02 (see Note 2).


Note 9.   Accumulated Other Comprehensive Income (continued)

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)
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 8.
(b)
For pre-tax items, positive amounts represent income and negative amounts represent expense.

Reclassifications out of AOCI for the three and nine-month periods ended June 30, 2017 were as follows:
 
 
 
Amount reclassified from AOCI
 
Details about AOCI Components
 
Three Months Ended June 30, 2017
 
Nine Months Ended
June 30, 2017
 
Affected line item in the Statement of income
 
 
 
 
 
 
 
Postretirement benefit plans
 
 
 
 
 
    
Prior service (cost) credit
 
$
94

(a)
$
282

 
 
Actuarial losses
 
(2,509
)
(a)
(7,527
)
 
 
 
 
(2,415
)
(b)
(7,245
)
 
Income before income tax
 
 
(993
)
 
(2,825
)
 
Income taxes
 
 
$
(1,422
)
 
$
(4,420
)
 
Net income
Derivatives
 
 

 
 

 
    
Interest rate swap contracts
 
$
306

 
$
1,616

 
Interest expense
 
 
306

(b)
1,616

 
Income before income tax
 
 
119

 
630

 
Income taxes
 
 
$
187

 
$
986

 
Net income

(a)
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 8.
(b)
For pre-tax items, positive amounts represent income and negative amounts represent expense.