v3.7.0.1
ACCUMULATED OTHER COMPREHENSIVE INCOME
 12 Months Ended
Dec. 31, 2016
ACCUMULATED OTHER COMPREHENSIVE INCOME  
ACCUMULATED OTHER COMPREHENSIVE INCOME

NOTE 16 –  ACCUMULATED OTHER COMPREHENSIVE INCOME

 

The following tables present the change in accumulated other comprehensive income (loss) by component:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unrealized Net

 

Unrealized Net

 

 

 

 

 

 

 

 

 

Pension and

 

Gain from

 

Gain from Equity

 

 

 

 

 

 

Foreign

 

Other

 

Marketable

 

Method Investees’

 

 

 

 

(In thousands)

    

Currency

    

Benefits

    

Securities

    

Cash Flow Hedge

    

Total

 

Balance, December 31, 2015

 

$
2,101

 

$
(3,289)

 

$
1,465

 

$
2,527

 

$
2,804

 

Other comprehensive income (loss) before reclassifications

 

 
(3,881)

 

 

 —

 

 
589

 

 
(309)

 

 
(3,601)

 

Amounts reclassified from accumulated other comprehensive income

 

 

 —

 

 
(280)

 

 
(1,816)

 

 
342

 

 
(1,754)

 

Other comprehensive income (loss)

 

 
(3,881)

 

 
(280)

 

 
(1,227)

 

 
33

 

 
(5,355)

 

Balance, December 31, 2016

 

$
(1,780)

 

$
(3,569)

 

$
238

 

$
2,560

 

$
(2,551)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unrealized Net

 

Unrealized Net

 

 

 

 

 

 

 

 

 

Pension and

 

Gain from

 

Gain from Equity

 

 

 

 

 

 

Foreign

 

Other

 

Marketable

 

Method Investees’

 

 

 

 

(In thousands)

    

Currency

    

Benefits (1)

    

Securities

    

Cash Flow Hedge

    

Total

 

Balance, December 31, 2014

 

$
729

 

$
6,675

 

$
2,677

 

$
2,763

 

$
12,844

 

Other comprehensive income (loss) before reclassifications

 

 
1,372

 

 
912

 

 
(1,056)

 

 
(693)

 

 
535

 

Amounts reclassified from accumulated other comprehensive income

 

 

 —

 

 
(10,876)

 

 
(156)

 

 
457

 

 
(10,575)

 

Other comprehensive income (loss)

 

 
1,372

 

 
(9,964)

 

 
(1,212)

 

 
(236)

 

 
(10,040)

 

Balance, December 31, 2015

 

$
2,101

 

$
(3,289)

 

$
1,465

 

$
2,527

 

$
2,804

 

(1)

See Note 11 - Employee Benefit Plans for further information regarding amounts reclassified from accumulated other comprehensive income.

 

 

The tax effects allocated to each component of other comprehensive income (loss) is as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended

 

 

 

December 31, 2016

 

December 31, 2015

 

December 31, 2014

 

 

   

 

   

Tax

   

 

   

 

   

Tax

   

 

    

 

    

Tax

    

 

 

 

 

Pre-Tax

 

(Expense)

 

Net-of-Tax

 

Pre-Tax

 

(Expense)

 

Net-of-Tax

 

Pre-Tax

 

(Expense)

 

Net-of-Tax

 

(In thousands)

 

Amount

 

Benefit

 

Amount

 

Amount

 

Benefit

 

Amount

 

Amount

 

Benefit

 

Amount

 

Unrealized foreign currency translation adjustment (1)

 

$
(3,110)

 

$
(771)

 

$
(3,881)

 

$
2,250

 

$
(878)

 

$
1,372

 

$
1,603

 

$
(625)

 

$
978

 

Pension and other benefit adjustments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 —

 

Net gain (loss) arising during the period

 

 
(526)

 

 
233

 

 
(293)

 

 
272

 

 
(106)

 

 
166

 

 
(22,202)

 

 
8,659

 

 
(13,543)

 

Prior service credit arising during the period

 

 

 —

 

 

 —

 

 

 —

 

 
1,223

 

 
(477)

 

 
746

 

 

 —

 

 

 —

 

 

 —

 

Amortization of net (gain) loss reclassified into general and administrative: other

 

 
27

 

 
(11)

 

 
16

 

 
(2,752)

 

 
1,073

 

 
(1,679)

 

 
(1,382)

 

 
538

 

 
(844)

 

Amortization of prior service credit reclassified into general and administrative: other

 

 

 —

 

 

 —

 

 

 —

 

 
(2,888)

 

 
1,126

 

 
(1,762)

 

 
(1,665)

 

 
649

 

 
(1,016)

 

Curtailment gain reclassified into general and administrative: other

 

 

 —

 

 

 —

 

 

 —

 

 
(11,867)

 

 
4,628

 

 
(7,239)

 

 

—

 

 

 —

 

 

 —

 

Settlement gain reclassified into general and administrative: other

 

 
(5)

 

 
2

 

 
(3)

 

 
(321)

 

 
125

 

 
(196)

 

 

—

 

 

 —

 

 

 —

 

Marketable securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unrealized net holding gain (loss) arising during the period

 

 
966

 

 
(377)

 

 
589

 

 
(1,731)

 

 
675

 

 
(1,056)

 

 
4,305

 

 
(1,678)

 

 
2,627

 

Realized net gain reclassified into investment expense (income)

 

 
(2,977)

 

 
1,161

 

 
(1,816)

 

 
(256)

 

 
100

 

 
(156)

 

 
(52)

 

 
21

 

 
(31)

 

Equity method investees' cash flow hedge:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unrealized net holding gain (loss) arising during the period

 

 
(507)

 

 
198

 

 
(309)

 

 
(1,136)

 

 
443

 

 
(693)

 

 
(96)

 

 
37

 

 
(59)

 

Realized net loss reclassified into equity in earnings of non-consolidated entities

 

 
559

 

 
(217)

 

 
342

 

 
748

 

 
(291)

 

 
457

 

 
865

 

 
(337)

 

 
528

 

Other comprehensive income (loss)

 

$
(5,573)

 

$
218

 

$
(5,355)

 

$
(16,458)

 

$
6,418

 

$
(10,040)

 

$
(18,624)

 

$
7,264

 

$
(11,360)

 

(1)

Deferred tax impacts of foreign currency translation for the Odeon international operations acquired during 2016 have not been recorded due to the Company’s intent to remain permanently invested.