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Shareholders' Equity and Reclassifications from Accumulated Other Comprehensive Income (Notes)
 12 Months Ended
Dec. 31, 2013
Equity [Abstract]  
Shareholders' Equity and Reclassifications from Accumulated Other Comprehensive Income
Shareholders' Equity and Reclassifications from Accumulated Other Comprehensive Income
The company's Certificate of Incorporation authorizes 20 million shares of preferred stock and 150 million shares of common stock. At December 31, 2013, shares of common stock were reserved for the following purposes:
Issuance upon conversion of the Convertible Notes (see Note 10)
11.8
 million
Issuance upon exercise of stock options and other stock awards (see Note 16)
4.1
 million

Gains and losses deferred in "Accumulated other comprehensive income (loss)" ("AOCI") are reclassified and recognized in the Consolidated Statements of Income when they are realized. The items in the table below do not have an income tax effect because they are either permanent differences in the income tax calculation or they relate to jurisdictions where the company has established full valuation allowances against its deferred tax assets. Amounts of (income) expense reclassified from AOCI are as follows (in thousands):
AOCI Component
 
Line Items Affected by Reclassifications from AOCI in the Consolidated Statements of Income
 
(Income) / expense reclassified from AOCI for the year ended December 31,
 
 
2013
 
2012
 
2011
Available-for-sale investment
 
Other income (expense), net
 
$
(561
)
 
$
(722
)
 
$
—

Currency hedge portfolio derivatives
 
Net sales
 
29,858

 
(1,240
)
 
(7,805
)
Bunker fuel forward contracts
 
Cost of sales
 
(7,839
)
 
(16,053
)
 
(37,019
)
Prior service cost and recognized actuarial loss amortization related to pensions*
 
 
 
1,357

 
789

 
1,000

* These accumulated other comprehensive income components are included in the computation of net periodic pension cost. See Note 14 for further details.
The changes in the components of accumulated other comprehensive income, net of tax, for the year ended December 31, 2013 and 2012 were as follows:
(In thousands)
Net cumulative currency translation gains (losses)
 
Net unrealized losses on qualifying cash flow hedges
 
Unrealized gains on available-for-sale investment
 
Net unrecognized losses related to pension and severance plans (1)
 
Total
Balance at December 31, 2011
$
74

 
$
17,659

 
$
(818
)
 
$
(25,225
)
 
$
(8,310
)
Other comprehensive income (loss) before reclassifications
(194
)
 
(16,928
)
 
1,944

 
189

 
(14,989
)
Amounts reclassified from accumulated other comprehensive income
—

 
(17,293
)
 
(722
)
 
789

 
(17,226
)
Net current-period other comprehensive income
(194
)
 
(34,221
)
 
1,222

 
978

 
(32,215
)
Balance at December 31, 2012
$
(120
)
 
$
(16,562
)
 
$
404

 
$
(24,247
)
 
$
(40,525
)
Other comprehensive income (loss) before reclassifications
(349
)
 
(11,111
)
 
157

 
3,230

 
(8,073
)
Amounts reclassified from accumulated other comprehensive income
—

 
22,019

 
(561
)
 
1,357

 
22,815

Net current-period other comprehensive income
(349
)
 
10,908

 
(404
)
 
4,587

 
14,742

Balance at December 31, 2013
$
(469
)
 
$
(5,654
)
 
$
—

 
$
(19,660
)
 
$
(25,783
)
(1) Net of deferred tax liability of $530 thousand, and $283 thousand as of December 31, 2013 and 2012, respectively. There was no tax impact as of December 31, 2011.
In 2006, the board of directors suspended the payment of dividends. Any future payments of dividends would require approval of the board of directors. See Note 10 for further description of limitations on the company's ability to pay dividends under the 7.875% Notes and ABL Facility issued in 2013.