Accumulated Other Comprehensive Income (Loss)

3 Months Ended

Mar. 31, 2015

Accumulated Other Comprehensive Income (Loss)

Accumulated Other Comprehensive Income (Loss)

8.   Accumulated Other Comprehensive Income (Loss)

The changes in the components of accumulated other comprehensive income (loss), net of tax, are as follows:

	Foreign			Defined						Total Accumulated
	Currency			Benefit						Other
	Translation			Pension Plan						Comprehensive
	Adjustments			Adjustments			Derivatives			Income (Loss)
Balance as of December 31, 2014, net of tax	$	1,943		$	(30,358	)	$	905		$	(27,510	)
Other comprehensive income (loss) before reclassifications	(10,296		)	310			462			(9,524		)
Amounts reclassified from other comprehensive income (loss)	—			500			(218		)	282
Net current period other comprehensive income (loss)	(10,296		)	810			244			(9,242		)
Balance as of March 31, 2015, net of tax	$	(8,353	)	$	(29,548	)	$	1,149		$	(36,752	)

	Foreign		Defined						Total Accumulated
	Currency		Benefit						Other
	Translation		Pension Plan						Comprehensive
	Adjustments		Adjustments			Derivatives			Income (Loss)
Balance as of December 31, 2013, net of tax	$	16,793	$	(18,450	)	$	517		$	(1,140	)
Other comprehensive income (loss) before reclassifications	124		(23		)	(135		)	(34		)
Amounts reclassified from other comprehensive income (loss)	—		225			(71		)	154
Net current period other comprehensive income (loss)	124		202			(206		)	120
Balance as of March 31, 2014, net of tax	$	16,917	$	(18,248	)	$	311		$	(1,020	)

Details about	Amount Reclassified from Accumulated Other Comprehensive Income (Loss)(1)
Accumulated Other Comprehensive	Three Months Ended March 31,						Affected Line Item in the Statement
Income (Loss) Components	2015			2014			where Net Income is Presented
Defined Benefit Pension Plan Adjustments:
Prior-service costs	$	(4	)	$	(18	)	(2)
Actuarial losses	(739		)	(337		)	(2)
	(743		)	(355		)	Total before tax
	243			130			Tax benefit
	$	(500	)	$	(225	)	Net of tax
Derivatives:
Foreign exchange contracts	$	444		$	133		Cost of products sold (excluding depreciation and amortization)
Natural gas contracts	(124		)	4			Cost of products sold (excluding depreciation and amortization)
	320			137			Total before tax
	(102		)	(66		)	Tax expense
	$	218		$	71		Net of tax
Total reclassifications for the period	$	(282	)	$	(154	)	Net of tax

(1) Amounts in parentheses indicate debits to income/loss.

(2) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension cost.

Foreign currency translation adjustments exclude income tax expense (benefit) for the earnings of the Company’s non-U.S. subsidiaries as management believes these earnings will be reinvested for an indefinite period of time.  Determination of the amount of unrecognized deferred U.S. income tax liability on these unremitted earnings is not practicable.

The income tax benefit associated with ASC 715 “Compensation — Retirement Benefits” included in accumulated other comprehensive loss were $16.7 million and $17.4 million as of March 31, 2015 and December 31, 2014, respectively.  The income tax expense associated with the Company’s derivatives included in accumulated other comprehensive income was $0.5 million as of both March 31, 2015 and December 31, 2014.

The following table contains the components of income tax expense (benefit) included in other comprehensive income (loss):

	Three Months Ended March 31,
	2015		2014
Defined benefit pension plan	$	243	$	130
Derivatives	125		(145		)