Comprehensive Income

6 Months Ended

Jun. 30, 2012

Statement of Other Comprehensive Income [Abstract]

Comprehensive Income

Comprehensive Income

Comprehensive income refers to net income adjusted by gains and losses that, according to GAAP, are excluded from net income and are instead included in stockholders’ equity in the consolidated balance sheets.  These items include foreign currency translation adjustments and pension and postretirement benefit liability adjustments.  For the Company, the difference between net income and comprehensive income is primarily attributable to adjustments arising from the translation of assets and liabilities of foreign subsidiaries from the local currency to the U.S. Dollar.

For the three and six months ended June 30, 2012, comprehensive income was $3,961 and $11,452, respectively.  For the three and six months ended June 30, 2011, comprehensive income was $7,673 and $9,152, respectively.  The deferred tax liability (asset) related to foreign currency translation for the three and six months ended June 30, 2012 was $(1,276) and $132, respectively. The deferred tax liability related to foreign currency translation for the three and six months ended June 30, 2011 was $978 and $1,820, respectively. The deferred tax asset related to pension and postretirement benefit plans activity for the three and six months ended June 30, 2012 was $13 and $24, respectively. The deferred tax asset related to pension and postretirement benefit plans activity for the three and six months ended June 30, 2011 was $0 and $0, respectively.