Quarterly report pursuant to Section 13 or 15(d)

Accumulated Other Comprehensive Income

v3.20.4
Accumulated Other Comprehensive Income
3 Months Ended
Dec. 31, 2020
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 December 31, 2020 and 2019 were as follows:
     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   —  17,055    353  17,408 
Amounts reclassified from AOCI 2,124 
(a)
—  682 
(b)
2,806 
Net current-period OCI 2,124 
 
17,055 
 
1,035    20,214 
Balance, December 31, 2020 $ (80,830) $ (134,826)   $ (4,849)   $ (220,505)
Attributable to noncontrolling interest:              
Balance, September 30, 2020   $ —  $ 368    $ —    $ 368 
OCI before reclassification   —  (3)   —    (3)
Net current-period OCI   —  (3)   —  (3)
Balance, December 31, 2020   $ —  $ 365    $ —  $ 365 

     Post-retirement benefit plans Currency translation adjustment Derivatives Total
Attributable to Matthews:            
Balance, September 30, 2019   $ (71,743) $ (156,214)   $ (404) $ (228,361)
OCI before reclassification   —  11,111    566  11,677 
Amounts reclassified from AOCI 1,727 
(a)
—  (275)
(b)
1,452 
Net current-period OCI   1,727  11,111    291  13,129 
Balance, December 31, 2019   $ (70,016) $ (145,103)   $ (113) $ (215,232)
Attributable to noncontrolling interest:            
Balance, September 30, 2019   $ —  $ 375    $ —  $ 375 
OCI before reclassification   —  (5)
 
—  (5)
Net current-period OCI   —  (5)   —  (5)
Balance, December 31, 2019   $ —  $ 370 
 
$ —  $ 370 
(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)

Reclassifications out of AOCI for the three-month periods ended December 31, 2020 and 2019 were as follows:
  Amount reclassified from AOCI
 
Details about AOCI Components
Three Months Ended
December 31, 2020
  Three Months Ended
December 31, 2019
Affected line item in the Statement of income
Postretirement benefit plans       
Prior service credit (a)
$ 108  $ 70   
Actuarial losses (a)
(3,021) (2,387)  
  (2,913) (2,317)
Income before income tax (b)
  789 
 
590  Income taxes
  $ (2,124)
 
$ (1,727) Net income
Derivatives
 
    
Interest rate swap contracts $ (903)
 
$ 364  Interest expense
  (903) 364 
Income before income tax (b)
  221 
 
(89) Income taxes
  $ (682)   $ 275  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 10.
(b)For pre-tax items, positive amounts represent income and negative amounts represent expense.