Quarterly report pursuant to Section 13 or 15(d)

Comprehensive Income (Loss) and Accumulated Other Comprehensive Income (Tables)

v3.19.3.a.u2
Comprehensive Income (Loss) and Accumulated Other Comprehensive Income (Tables)
9 Months Ended
Dec. 31, 2019
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]  
Schedule of changes in Accumulated Other Comprehensive Income (Loss)
Changes in Accumulated Other Comprehensive Income (“AOCI”) for the three and nine months ended December 31, 2019 and 2018 include the following components (amounts in thousands):
 
Foreign 
Currency
Translation, net of Tax (1)
 
Post-Retirement 
Benefit Plan Adjustments, net of Tax
 
Defined 
Benefit
Pension
 Plans, 
net of Tax (2)
 
Ownership Share of
Equity Method 
Investees’ Other 
Comprehensive 
Income (Loss), net of Tax
 
Cash Flow Hedges, net of Tax
 
Excluded Component of Fair Value Hedges, net of Tax
 
Net Accumulated 
Other 
Comprehensive 
Income (Loss)
Balance at September 30, 2019
$
(19,137
)
 
$
719

 
$
(15,432
)
 
$
274

 
$
(9,585
)
 
$
(912
)
 
$
(44,073
)
Other comprehensive income (loss) before reclassifications (3) (4)
16,672

 

 

 

 
1,476

 

 
18,148

Amounts reclassified out of AOCI
(2,512
)
 
(37
)
 
160

 

 
3,283

 
46

 
940

Other comprehensive income (loss)
14,160

 
(37
)
 
160

 

 
4,759

 
46

 
19,088

Balance at December 31, 2019
$
(4,977
)
 
$
682

 
$
(15,272
)
 
$
274

 
$
(4,826
)
 
$
(866
)
 
$
(24,985
)
 
Foreign 
Currency
Translation, net of Tax (1)
 
Post-Retirement 
Benefit Plan Adjustments, net of Tax
 
Defined 
Benefit
Pension
 Plans, 
net of Tax (2)
 
Ownership Share of
Equity Method 
Investees’ Other 
Comprehensive 
Income (Loss), net of Tax
 
Cash Flow Hedges, net of Tax
 
Excluded Component of Fair Value Hedges, net of Tax
 
Net Accumulated 
Other 
Comprehensive 
Income (Loss)
Balance at September 30, 2018
$
(17,637
)
 
$
801

 
$
(14,544
)
 
$
268

 
$
1,904

 
$

 
$
(29,208
)
Other comprehensive income (loss) before reclassifications (3)
(3,543
)
 

 

 
8

 
(2,435
)
 
(3,407
)
 
(9,377
)
Amounts reclassified out of AOCI
(1,609
)
 
(38
)
 
139

 

 
(170
)
 
1,572

 
(106
)
Other comprehensive income (loss)
(5,152
)
 
(38
)
 
139

 
8

 
(2,605
)
 
(1,835
)
 
(9,483
)
Balance at December 31, 2018
$
(22,789
)
 
$
763

 
$
(14,405
)
 
$
276

 
$
(701
)
 
$
(1,835
)
 
$
(38,691
)

 
Foreign 
Currency
Translation, net of Tax (1)
 
Post-Retirement 
Benefit Plan Adjustments, net of Tax
 
Defined 
Benefit
Pension
 Plans, 
net of Tax (2)
 
Ownership Share of
Equity Method 
Investees’ Other 
Comprehensive 
Income (Loss), net of Tax
 
Cash Flow Hedges, net of Tax
 
Excluded Component of Fair Value Hedges, net of tax
 
Net Accumulated 
Other 
Comprehensive 
Income (Loss)
Balance at March 31, 2019
$
(14,350
)
 
$
793

 
$
(15,758
)
 
$
274

 
$
566

 
$
(2,249
)
 
$
(30,724
)
Other comprehensive income (loss) before reclassifications (3) (4)
17,166

 

 

 

 
(6,146
)
 
(346
)
 
10,674

Amounts reclassified out of AOCI
(7,793
)
 
(111
)
 
486

 

 
754

 
1,729

 
(4,935
)
Other comprehensive income (loss)
9,373

 
(111
)
 
486

 

 
(5,392
)
 
1,383

 
5,739

Balance at December 31, 2019
$
(4,977
)
 
$
682

 
$
(15,272
)
 
$
274

 
$
(4,826
)
 
$
(866
)
 
$
(24,985
)
 
Foreign 
Currency
Translation, net of Tax (1)
 
Post-Retirement 
Benefit Plan Adjustments, net of Tax
 
Defined 
Benefit
Pension
 Plans, 
net of Tax (2)
 
Ownership Share of
Equity Method 
Investees’ Other 
Comprehensive 
Income (Loss), net of Tax
 
Cash Flow Hedges, net of Tax
 
Excluded Component of Fair Value Hedges, net of Tax
 
Net Accumulated 
Other 
Comprehensive 
Income (Loss)
Balance at March 31, 2018
$
9,715

 
$
879

 
$
(14,831
)
 
$
285

 
$
1,154

 
$

 
$
(2,798
)
Other comprehensive income (loss) before reclassifications (3)
(30,895
)
 

 

 
(9
)
 
(2,130
)
 
(3,407
)
 
(36,441
)
Amounts reclassified out of AOCI
(1,609
)
 
(116
)
 
426

 

 
275

 
1,572

 
548

Other comprehensive income (loss)
(32,504
)
 
(116
)
 
426

 
(9
)
 
(1,855
)
 
(1,835
)
 
(35,893
)
Balance at December 31, 2018
$
(22,789
)
 
$
763

 
$
(14,405
)
 
$
276

 
$
(701
)
 
$
(1,835
)
 
$
(38,691
)
_________________
(1) Due primarily to the Company’s valuation allowance on deferred tax assets, there were no significant deferred tax effects associated with the cumulative currency translation gains and losses during the three and nine months ended December 31, 2019 and 2018.
(2) Ending balance is net of tax of $2.4 million and $2.2 million as of December 31, 2019 and 2018, respectively.
(3) Foreign currency translation, net of tax for the three and nine months ended December 31, 2019 includes gains of $5.2 million and $7.9 million, respectively, related to a derivative instrument accounted for as a net investment hedge. Foreign currency translation, net of tax for both the three and nine months ended December 31, 2018 includes losses of $3.6 million related to a derivative instrument accounted for as a net investment hedge. Refer to Note 15, Derivatives, for further information.
(4) Cash flow hedges, net of tax for the three and nine months ended December 31, 2019 includes losses of $1.9 million and $13.2 million which were excluded from the assessment of hedge effectiveness.