Accumulated Other Comprehensive Income (Loss)
The changes of accumulated other comprehensive income (loss) by component at March 31, 2015 were as follows:
|
| | | | | | | | | | | | | | | |
(Dollars in thousands) | Foreign currency translation adjustments | | Funded status of pension plans and other postretirement benefits (1) | | Unrealized gain (loss) on derivative instruments (2) | | Total |
Beginning Balance December 31, 2014 | $ | (14,193 | ) | | $ | (50,808 | ) | | $ | (93 | ) | | $ | (65,094 | ) |
Other comprehensive income before reclassifications | (27,980 | ) | | — |
| | 124 |
| | (27,856 | ) |
Amounts reclassified from accumulated other comprehensive income | — |
| | 268 |
| | 94 |
| | 362 |
|
Net current-period other comprehensive income | (27,980 | ) | | 268 |
| | 218 |
| | (27,494 | ) |
Ending Balance March 31, 2015 | $ | (42,173 | ) | | $ | (50,540 | ) | | $ | 125 |
| | $ | (92,588 | ) |
(1) Net of taxes of $11,807 and $11,952 for the periods ended March 31, 2015 and December 31, 2014, respectively.
(2) Net of taxes of $50 and $50 for the periods ended March 31, 2015 and December 31, 2014, respectively.
The changes of accumulated other comprehensive income (loss) by component at March 31, 2014 were as follows:
|
| | | | | | | | | | | | | | | |
(Dollars in thousands) | Foreign currency translation adjustments | | Funded status of pension plans and other postretirement benefits (3) | | Unrealized gain (loss) on derivative instruments (4) | | Total |
Beginning Balance December 31, 2013 | $ | 22,756 |
| | $ | (33,997 | ) | | $ | (209 | ) | | $ | (11,450 | ) |
Other comprehensive income before reclassifications | (327 | ) | | — |
| | (180 | ) | | (507 | ) |
Amounts reclassified from accumulated other comprehensive income | — |
| | 139 |
| | 210 |
| | 349 |
|
Net current-period other comprehensive income | (327 | ) | | 139 |
| | 30 |
| | (158 | ) |
Ending Balance March 31, 2014 | $ | 22,429 |
| | $ | (33,858 | ) | | $ | (179 | ) | | $ | (11,608 | ) |
(3) Net of taxes of $2,825 and $2,900 for the periods ended March 31, 2014 and December 31, 2013, respectively.
(4) Net of taxes of $96 and $110 for the periods ended March 31, 2014 and December 31, 2013, respectively.
The reclassifications out of accumulated other comprehensive income (loss) for the three months ended March 31, 2015 were as follows:
|
| | | | | |
(Dollars in thousands) | Amounts reclassified from accumulated other comprehensive income (loss) for the quarter ended March 31, 2015 | | |
Details about accumulated other comprehensive income components | Three months ended | | Affected line item in the statement where net income is presented |
Unrealized gains and losses on derivative instruments: | | | |
| 145 |
| | Realized gain (loss) |
| (51 | ) | | Tax benefit (expense) |
| 94 |
| | Net of tax |
Amortization of defined benefit pension and other post-retirement benefit items: | | | |
Actuarial losses | 412 |
| | (5) |
| 412 |
| | Total before tax |
| (144 | ) | | Tax benefit (expense) |
| $ | 268 |
| | Net of tax |
(5) These accumulated other comprehensive income components are included in the computation of net periodic pension cost. See Note 9 - "Pension Benefits and Other Postretirement Benefit Plans" for additional details.
The reclassifications out of accumulated other comprehensive income (loss) for the three months ended March 31, 2014 were as follows:
|
| | | | | |
(Dollars in thousands) | Amounts reclassified from accumulated other comprehensive income (loss) for the quarter ended March 31, 2014 | | |
Details about accumulated other comprehensive income components | Three months ended | | Affected line item in the statement where net income is presented |
Unrealized gains and losses on marketable securities | | | |
| $ | 323 |
| | Realized gain (loss) |
| (113 | ) | | Tax benefit (expense) |
| $ | 210 |
| | Net of tax |
Amortization of defined benefit pension and other post-retirement benefit items: | | | |
Actuarial losses | 214 |
| | (5) |
| 214 |
| | Total before tax |
| (75 | ) | | Tax benefit (expense) |
| $ | 139 |
| | Net of tax |
| | | |
(5) These accumulated other comprehensive income components are included in the computation of net periodic pension cost. See Note 9 - "Pension Benefits and Other Postretirement Benefit Plans" for additional details.