GORMAN RUPP CO - 10-K filing on 2014-03-10

Note E - Accumulated Other Comprehensive Loss

12 Months Ended

Dec. 31, 2013

Note E – Accumulated Other Comprehensive Loss

The reclassifications out of accumulated other comprehensive loss as reported in the Consolidated Statement of Income are:

Pension and other post retirement benefits:	2013			2012			2011
Recognized actuarial gain (loss) (a)	$	10,282		$	(3,922	)	$	(12,022	)
Settlement loss (b)		2,756			1,940			1,987
Settlement loss (c)		1,413			995			1,023
Total before income tax		14,451			(987	)		(9,012	)
Income tax		(5,249	)		312			3,282
Net of income tax	$	9,202		$	(675	)	$	(5,730	)

(a) The recognized actuarial gain (loss) is included in the computation of net periodic benefit cost. See Note G for additional details.

(b) This portion of the settlement loss is included in Cost of products sold in the Consolidated Statements of Income.

(c) This portion of the settlement loss is included in Selling, general and administrative expenses in the Consolidated Statements of Income.

The components of accumulated other comprehensive loss as reported in the Consolidated Balance Sheets are:

	Currency Translation Adjustments			Pension and OPEB Adjustments			Accumulated Other Comprehensive Income (Loss)
Balance at January 1, 2011	$	768		$	(10,196	)	$	(9,428	)
Current period charge		(886	)		(9,012	)		(9,898	)
Income tax benefit		--			3,282			3,282
Balance at December 31, 2011		(118	)		(15,926	)		(16,044	)
Current period credit (charge)		437			(987	)		(550	)
Income tax benefit		--			312			312
Balance at December 31, 2012		319			(16,601	)		(16,282	)
Current period (charge) credit		(1,381	)		14,451			13,070
Income tax (charge)		--			(5,249	)		(5,249	)
Balance at December 31, 2013	$	(1,062	)	$	(7,399	)	$	(8,461	)