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SEC Filings

10-Q
GRAHAM HOLDINGS CO filed this Form 10-Q on 11/01/2017
Entire Document
 


10. ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
The other comprehensive income consists of the following components:
 
Three Months Ended September 30
  
2017
 
2016
  
Before-Tax
 
Income
 
After-Tax
 
Before-Tax
 
Income
 
After-Tax
(in thousands)
Amount
 
Tax
 
Amount
 
Amount
 
Tax
 
Amount
Foreign currency translation adjustments:
  
 
  
 
  
 
  
 
  
 
  
Translation adjustments arising during the period
$
11,470

 
$

 
$
11,470

 
$
(353
)
 
$

 
$
(353
)
Unrealized gains on available-for-sale securities:
 
 
  
 
  
 
  
 
  
 
  
Unrealized gains for the period, net
47,836

 
(19,134
)
 
28,702

 
12,154

 
(4,862
)
 
7,292

Pension and other postretirement plans:
  
 
  
 
  
 
  
 
  
 
  
Amortization of net prior service cost included in net income
118

 
(47
)
 
71

 
105

 
(41
)
 
64

Amortization of net actuarial (gain) loss included in net income
(1,567
)
 
627

 
(940
)
 
289

 
(116
)
 
173

 
(1,449
)
 
580

 
(869
)
 
394

 
(157
)
 
237

Cash flow hedge:
  
 
  
 
  
 
  
 
  
 
  
(Loss) gain for the period
(72
)
 
14

 
(58
)
 
49

 
(20
)
 
29

Other Comprehensive Income
$
57,785

 
$
(18,540
)
 
$
39,245

 
$
12,244

 
$
(5,039
)
 
$
7,205

  
Nine Months Ended September 30
  
2017
 
2016
  
Before-Tax
 
Income
 
After-Tax
 
Before-Tax
 
Income
 
After-Tax
(in thousands)
Amount
 
Tax
 
Amount
 
Amount
 
Tax
 
Amount
Foreign currency translation adjustments:
  
 
  
 
  
 
  
 
  
 
  
Translation adjustments arising during the period
$
34,776

 
$

 
$
34,776

 
$
(1,629
)
 
$

 
$
(1,629
)
Unrealized gains on available-for-sale securities:
 
 
  
 
  
 
 
 
  
 
  
Unrealized gains for the period, net
71,370

 
(28,548
)
 
42,822

 
7,190

 
(2,876
)
 
4,314

Reclassification of realized gain on sale of available-for-sale securities included in net income

 

 

 
(6,256
)
 
2,502

 
(3,754
)
  
71,370

 
(28,548
)
 
42,822

 
934

 
(374
)
 
560

Pension and other postretirement plans:
  
 
  
 
  
 
  
 
  
 
  
Amortization of net prior service cost included in net income
358

 
(143
)
 
215

 
314

 
(125
)
 
189

Amortization of net actuarial (gain) loss included in net income
(4,958
)
 
1,983

 
(2,975
)
 
868

 
(347
)
 
521

  
(4,600
)
 
1,840

 
(2,760
)
 
1,182

 
(472
)
 
710

Cash flow hedge:
 
 
  
 
  
 
  
 
  
 
  
(Loss) gain for the period
(215
)
 
43

 
(172
)
 
49

 
(20
)
 
29

Other Comprehensive Income
$
101,331

 
$
(26,665
)
 
$
74,666

 
$
536

 
$
(866
)
 
$
(330
)
The accumulated balances related to each component of other comprehensive income (loss) are as follows:
(in thousands, net of taxes)
Cumulative
Foreign
Currency
Translation
Adjustment
 
Unrealized Gain
on Available-for- Sale Securities
 
Unrealized Gain
on Pensions
and Other
Postretirement
Plans
 
Cash Flow
Hedge
 
Accumulated
Other
Comprehensive
Income
Balance as of December 31, 2016
$
(26,998
)
 
$
92,931

 
$
170,830

 
$
(277
)
 
$
236,486

Other comprehensive income (loss) before reclassifications
34,776

 
42,822

 

 
(270
)
 
77,328

Net amount reclassified from accumulated other comprehensive income (loss)

 

 
(2,760
)
 
98

 
(2,662
)
Other comprehensive income (loss), net of tax
34,776

 
42,822

 
(2,760
)
 
(172
)
 
74,666

Balance as of September 30, 2017
$
7,778

 
$
135,753

 
$
168,070

 
$
(449
)
 
$
311,152


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