Other Comprehensive Income (Loss)

12 Months Ended

Dec. 31, 2011

Notes to Financial Statements

Other Comprehensive Income (Loss)

10. Other Comprehensive Income (Loss)

The Company records unrealized gains and losses on foreign currency translation adjustments and changes in pension liabilities in other comprehensive income. Components of other comprehensive income (loss) for the years ended December 31, 2011 and 2010 were as follows (in thousands):

	2011			2010
Foreign currency translation adjustments	$	(413	)	$	997
Defined benefits plan adjustments		(5,259	)		(719	)
Deconsolidation of Congoleum		–			37,127
Net change in accumulated other    comprehensive income	$	(5,672	)	$	37,405

During 2011 and 2010, the Company recorded unrealized losses and gains, respectively, as a result of changes in the exchange rates used to convert Canadian dollars to U.S. dollars. The exchange rates used to translate the Canadian division’s balance sheets as of December 31, 2011 and 2010 were approximately 2% lower and 5% higher, respectively, than the exchange rate used for the prior year end.

During 2011 and 2010, the Company recorded a net adjustment of $5.3 million and $719 thousand, respectively, to accumulated other comprehensive income (“AOCI”) as a result of changes in the funded status of the pension plans of the continuing operations (see Note 7).

The deconsolidation of Congoleum in July 2010 resulted in the elimination from American Biltrite’s consolidated stockholders’ equity of the accumulated deficit attributed to Congoleum, $37.1 million of which was recorded against accumulated other comprehensive income for prior period pension and other benefit plans adjustments (see Note 1).

As of December 31, 2011 and 2010, the components of accumulated other comprehensive loss, net of taxes and noncontrolling interests, were as follows (in thousands):

	2011			2010
Foreign currency translation adjustments	$	2,897		$	3,310
Pension liability		(10,252	)		(4,993	)
	$	(7,355	)	$	(1,683	)