ACCUMULATED OTHER COMPREHENSIVE INCOME - NEW ACCOUNTING PRONOUNCEMENT

6 Months Ended

Jun. 30, 2013

ACCUMULATED OTHER COMPREHENSIVE INCOME - NEW ACCOUNTING PRONOUNCEMENT [Abstract]

ACCUMULATED OTHER COMPREHENSIVE INCOME - NEW ACCOUNTING PRONOUNCEMENT

NOTE 10 – ACCUMULATED OTHER COMPREHENSIVE INCOME - NEW ACCOUNTING PRONOUNCEMENT

In February 2013, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2013-02, "Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income" ("ASU 2013-02"). This guidance is the culmination of the FASB's deliberation on reporting reclassification adjustments from accumulated other comprehensive income ("AOCI"). The amendments in ASU 2013-02 do not change the current requirements for reporting net income or other comprehensive income. However, the amendments require disclosure of amounts reclassified out of AOCI in its entirety, by component, on the face of the statement of operations or in the notes thereto. Amounts that are not required to be reclassified in their entirety to net income must be cross-referenced to other disclosures that provide additional detail. This standard is effective prospectively for annual and interim reporting periods beginning after December 15, 2012. Other than the additional disclosure requirements (see below), the adoption of these changes had no impact on the Company's consolidated financial statements.

The changes in accumulated other comprehensive income (loss) were as follows:

	Three Months Ended June 30,
	2013			2012
Net foreign currency translation adjustment	$	242		$	(792	)
Net change in postretirement benefit plan (see Note 11 for further information)
Amortization of prior service credit		(4	)		(4	)
Amortization of loss/(gain)		7			(1	)
Total before tax		3			(5	)
Tax		-			1
Net of tax		3			(4	)
Total other comprehensive income (loss)		245			(796	)

	Six Months Ended June 30,
	2013			2012
Net foreign currency translation adjustment	$	(265	)	$	(409	)
Net change in postretirement benefit plan (see Note 11 for further information)
Amortization of prior service credit		(9	)		(9	)
Amortization of loss/(gain)		6			(6	)
Total before tax		(3	)		(15	)
Tax		1			3
Net of tax		(2	)		(12	)
Total other comprehensive loss	$	(267	)	$	(421	)