SEC Filings

10-Q
LINCOLN ELECTRIC HOLDINGS INC filed this Form 10-Q on 10/30/2017
Entire Document
 
LINCOLN ELECTRIC HOLDINGS, INC.
NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Dollars in thousands, except per share amounts

The following tables set forth the total changes in accumulated other comprehensive income (loss) ("AOCI") by component, net of taxes, for the three months ended September 30, 2017 and 2016:
 
 
Three Months Ended September 30, 2017
 
 
Unrealized gain (loss) on derivatives designated and qualifying as cash flow hedges
 
Defined benefit pension plan activity
 
Currency translation adjustment
 
Total
Balance at June 30, 2017
 
$
1,834

 
$
(94,513
)
 
$
(179,844
)
 
$
(272,523
)
Other comprehensive income (loss)
before reclassification
 
(1,814
)
 

 
18,900

3 

17,086

Amounts reclassified from AOCI
 
1,130

1 

3,958

2 


 
5,088

Net current-period other
comprehensive income (loss)
 
(684
)
 
3,958

 
18,900

 
22,174

Balance at September 30, 2017
 
$
1,150

 
$
(90,555
)
 
$
(160,944
)
 
$
(250,349
)
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended September 30, 2016
 
 
Unrealized gain (loss) on derivatives designated and qualifying as cash flow hedges
 
Defined benefit pension plan activity
 
Currency translation adjustment
 
Total
Balance at June 30, 2016
 
$
739

 
$
(95,541
)
 
$
(191,752
)
 
$
(286,554
)
Other comprehensive income (loss)
before reclassification
 
170

 

 
(3,024
)
3 

(2,854
)
Amounts reclassified from AOCI
 
(345
)
1 

1,313

2 


 
968

Net current-period other
comprehensive income (loss)
 
(175
)
 
1,313

 
(3,024
)
 
(1,886
)
Balance at September 30, 2016
 
$
564

 
$
(94,228
)
 
$
(194,776
)
 
$
(288,440
)
 
 
 
 
 
 
 
 
 
(1)
During the 2017 period, this AOCI reclassification is a component of Net sales of $968 (net of tax of $398) and Cost of goods sold of $162 (net of tax of $25); during the 2016 period, the reclassification is a component of Net sales of $(174) (net of tax of $(71)) and Cost of goods sold of $(171) (net of tax of $(46)). See Note 13 to the consolidated financial statements for additional details.
(2)
This AOCI component is included in the computation of net periodic pension costs (net of tax of $2,170 and $778 during the three months ended September 30, 2017 and 2016, respectively). See Note 11 to the consolidated financial statements for additional details.
(3)
The Other comprehensive income (loss) before reclassifications excludes $31 and $(6) attributable to Non-controlling interests in the three months ended September 30, 2017 and 2016, respectively.




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