Comprehensive Income (Loss)

6 Months Ended

Jun. 30, 2011

Comprehensive Income (Loss)

Comprehensive Income (Loss)

Note 3.  Comprehensive Income (Loss)

Comprehensive income (loss) includes, in addition to net income (loss), gains and losses recorded directly into stockholders’ equity on the condensed consolidated balance sheet. These gains and losses are referred to as other comprehensive income items. Accumulated other comprehensive income (loss) consists of foreign currency translation gains and (losses), unrealized deferred gains and (losses) on “available-for-sale” securities and adjustments related to pensions and other post-retirement benefits. The Company does not provide income taxes for foreign currency translation adjustments related to indefinite investments in foreign subsidiaries. The sale of the Woodlands resulted in the substantially complete liquidation of the Company’s investment in Neenah Canada. In accordance with ASC Topic 830, for the three months ended March 31, 2010, $87.9 million of cumulative currency translation adjustments attributable to the Company’s Canadian subsidiaries were reclassified into earnings and recognized as part of the gain on sale of the Woodlands.  As of June 30, 2011 and December 31, 2010, accumulated other comprehensive losses were $0.9 million and $17.5 million, respectively.

The following table presents the components of comprehensive income (loss):

	Three Months Ended June 30,					Six Months Ended June 30,
	2011		2010			2011		2010
Net income	$	7.8	$	6.3		$	14.7	$	148.2
Other comprehensive income (loss):
Unrealized foreign currency translation gain (loss)	4.0		(17.3		)	15.7		(29.9		)
Reclassification of cumulative translation adjustments related to investments in Canada	—		—			—		(87.9		)
Unrealized deferred gain on “available-for-sale” securities	0.1		—			0.1		—
Adjustments to pension and other post-employment benefit liabilities, net of income taxes	0.4		(1.3		)	0.8		(1.0		)
Total other comprehensive income (loss)	4.5		(18.6		)	16.6		(118.8		)
Comprehensive income (loss)	$	12.3	$	(12.3	)	$	31.3	$	29.4