Accumulated Other Comprehensive Income (Tables)

6 Months Ended

Jun. 30, 2014

Accumulated Other Comprehensive Income [Abstract]

Schedule of Accumulated Other Comprehensive Income

The table below presents changes in the components of Accumulated Other Comprehensive Income for the period December 31, 2013 to June 30, 2014:

(in thousands)	Translation adjustments	Pension and postretirement liability adjustments	Derivative valuation adjustment	Total Other Comprehensive Income
Balance, December 31, 2013	($138)	($48,383)	($977)	($49,498)
Other comprehensive income before reclassifications	(1,838)	(102)	(802)	(2,742)
Interest expense related to swaps reclassified to the Statements of Income, net of tax	-	-	580	580
Pension and postretirement liability adjustments reclassified to Statements of Income, net of tax	-	280	-	280
Net current period other comprehensive income	(1,838)	178	(222)	(1,882)
Balance, June 30, 2014	($1,976)	($48,205)	($1,199)	($51,380)

Schedule of Accumulated Other Comprehensive Income Components Reclassified to Statement of Income

The components of our Accumulated Other Comprehensive Income that are reclassified to the Statements of Income relate to our pension and postretirement plans and interest rate swaps. The table below presents the amounts reclassified, and the line items of the Statements of Income that were affected:

	Three months ended June 30,		Six months ended June 30,
Expense/(income)(in thousands)	2014	2013	2014	2013
Pretax Derivative valuation reclassified from Accumulated Other Comprehensive Income:
Payments made on interest rate swaps included in earnings	$473	$454	$951	$910
Income tax effect	(184)	(177)	(371)	(354)
Effect on net income due to items reclassified from Accumulated Other Comprehensive Income	$289	$277	$580	$556
Pretax pension and postretirement liabilities reclassified from Accumulated Other Comprehensive Income:
Amortization of prior service cost/(credit)	($1,108)	($909)	($2,217)	($1,817)
Amortization of transition obligation	-	17	-	34
Amortization of net actuarial loss	1,355	1,664	2,683	3,328
Total pretax amount reclassified (a)	247	772	466	1,545
Income tax effect	(98)	(271)	(186)	(541)
Effect on net income due to items reclassified from Accumulated Other Comprehensive Income	$149	$501	$280	$1,004

 

(a) These accumulated other comprehensive income components are included in the computation of net periodic pension cost (see Note 4).