Accumulated Other Comprehensive Loss

3 Months Ended

Mar. 31, 2013

Accumulated Other Comprehensive Loss

Note 3.               Accumulated Other Comprehensive Loss

Accumulated other comprehensive loss is reported in our Consolidated Statements of Stockholders’ Equity.  Amounts included in accumulated other comprehensive loss, net of tax, are as follows:

	Unrecognized Net			Change in Fair			Foreign
	Defined Benefit			Value of			Currency
	Plan Costs			Derivatives			Translation			Total
	(Dollars in thousands)
Balance at December 31, 2012	$	(105,675	)	$	(7,727	)	$	3,489		$	(109,913	)
Other comprehensive loss before reclassifications		318			538			(12,044	)		(11,188	)
Amounts reclassified from accumulated other comprehensive loss		1,724			925			-			2,649
Other comprehensive loss		2,042			1,463			(12,044	)		(8,539	)
Balance at March 31, 2013	$	(103,633	)	$	(6,264	)	$	(8,555	)	$	(118,452	)

The amounts reclassified to earnings from the unrecognized net defined benefit plan costs component of accumulated other comprehensive loss for the three months ended March 31, 2013 was a loss of $2.8 million, excluding an income tax benefit of $1.1 million.  Amortization of actuarial losses and prior service cost (credit) is a component of net periodic benefit cost.  See Note 7 for further information.

The amount reclassified to earnings from the change in fair value of derivatives component of accumulated other comprehensive loss for the three months ended March 31, 2013 was a loss of $1.5 million, excluding an income tax benefit of $0.6 million.  This loss included $1.4 million related to our interest rate swap agreements which was recorded in interest and other debt expense and $0.1 million related to our natural gas swap agreements which was recorded in cost of goods sold in our Condensed Consolidated Statements of Income for the three months ended March 31, 2013.

Foreign currency gains related to our net investment hedges included in the foreign currency translation component of accumulated other comprehensive loss for the three months ended March 31, 2013 were $9.5 million, excluding an income tax provision of $3.6 million.

See Note 6 which includes a discussion of derivative instruments and hedging activities.