Comprehensive Income

9 Months Ended

Sep. 30, 2013

Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]

Comprehensive Income

Comprehensive Income

On January 1, 2013, the Company adopted FASB Accounting Standards Update (“ASU”) 2013-2, Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income, an amendment to FASB ASC Topic 220, Comprehensive Income. ASU 2013-2 requires entities to prospectively disclose additional information about changes in accumulated other comprehensive income (“AOCI’) balances by component and items reclassified out of AOCI to income during the period. ASU 2013-2 does not change the existing requirement to present the components of comprehensive income in the financial statements and is intended to improve the transparency of reclassification amounts and their impact on the financial statements. The information required by ASU 2013-2 is presented below.

The changes in AOCI by component (net of tax) are presented in the following tables (in thousands) (1):

For the three months ended September 30, 2013:

	Interest Rate Swap (Cash Flow Hedge)			Defined Benefit Pension Plans			Foreign Currency Translation Adjustments		Total
Balance – June 30, 2013	$	(4,635	)	$	(1,554	)	$	8,547	$	2,358
Changes during the period:
Other comprehensive income (loss) before reclassifications	(360		)	—			4,109		3,749
Reclassifications from AOCI to income (2), (3)	621			6			—		627
Other comprehensive income for the period	261			6			4,109		4,376
Balance – September 30, 2013	$	(4,374	)	$	(1,548	)	$	12,656	$	6,734

For the nine months ended September 30, 2013:

	Interest Rate Swap (Cash Flow Hedge)			Defined Benefit Pension Plans			Foreign Currency Translation Adjustments			Total
Balance – December 31, 2012	$	(6,010	)	$	(1,578	)	$	13,556		$	5,968
Changes during the period:
Other comprehensive income (loss) before reclassifications	(153		)	17			(900		)	(1,036		)
Reclassifications from AOCI to income (2), (3)	1,789			13			—			1,802
Other comprehensive income (loss) for the period	1,636			30			(900		)	766
Balance – September 30, 2013	$	(4,374	)	$	(1,548	)	$	12,656		$	6,734

(1) Amounts in parentheses represent debits (deferred losses).

(2) The reclassifications related to the interest rate swap (cash flow hedge) were recorded in Interest expense, net and exclude $0.4 million and $1.2 million of tax benefit reflected in the Provision for income taxes for the three and nine months ended September 30, 2013, respectively. See Note 10 – Derivatives and Hedging for information regarding the hedge.

(3) The reclassifications related to defined benefit pension plans were recorded in Selling, general and administrative expense and had an immaterial tax effect. See Note 12 – Employee Benefits for information regarding the Company’s defined benefit pension plans.