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Reclassifications from Accumulated Other Comprehensive Income
 6 Months Ended
Jun. 30, 2015
Reclassifications from Accumulated Other Comprehensive Income [Abstract]  
Reclassifications from Accumulated Other Comprehensive Income
Reclassifications from Accumulated Other Comprehensive Income
Gains and losses deferred in "Accumulated other comprehensive income (loss)" ("AOCI") are reclassified and recognized in the Condensed Consolidated Statements of Operations 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 we have established full valuation allowances against our 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 Condensed Consolidated Statements of Operations
 
(Income) / expense reclassified from AOCI for the quarter ended June 30,
 
(Income) / expense reclassified from AOCI for the six months ended June 30,
 
2015
 
2014
 
2015
 
2014
Currency translation
 
Other income (expense), net
 
$
(43
)
 
$
—

 
$
559

 
$
252

Currency hedge portfolio derivatives
 
Net sales
 
(13,829
)
 
1,020

 
(30,807
)
 
2,047

Bunker fuel forward contracts
 
Cost of sales
 
3,465

 
(61
)
 
12,240

 
(236
)
Prior service cost and recognized actuarial loss amortization related to pensions*
 
 
 
315

 
296

 
599

 
596

* These accumulated other comprehensive income components are included in the computation of net periodic pension cost. See Note 9 for further details.
The changes in the components of accumulated other comprehensive income, net of tax, for the quarter and six months ended June 30, 2015 were as follows:
(In thousands)
Net cumulative currency translation gains (losses)
 
Net unrealized losses on qualifying cash flow hedges
 
Net unrecognized losses related to pension and severance plans (1)
 
Total
Balance at March 31, 2015
$
314

 
$
17,370

 
$
(24,635
)
 
$
(6,951
)
Other comprehensive income (loss) before reclassifications
—

 
(2,270
)
 
1,095

 
(1,175
)
Amounts reclassified from accumulated other comprehensive income
(43
)
 
(10,364
)
 
315

 
(10,092
)
Net current-period other comprehensive income
(43
)
 
(12,634
)
 
1,410

 
(11,267
)
Balance at June 30, 2015
$
271

 
$
4,736

 
$
(23,225
)
 
$
(18,218
)
(In thousands)
Net cumulative currency translation gains (losses)
 
Net unrealized losses on qualifying cash flow hedges
 
Net unrecognized losses related to pension and severance plans (1)
 
Total
Balance at December 31, 2014
$
(290
)
 
$
7,299

 
$
(27,091
)
 
$
(20,082
)
Other comprehensive income (loss) before reclassifications
2

 
16,004

 
3,267

 
19,273

Amounts reclassified from accumulated other comprehensive income
559

 
(18,567
)
 
599

 
(17,409
)
Net current-period other comprehensive income
561

 
(2,563
)
 
3,866

 
1,864

Balance at June 30, 2015
$
271

 
$
4,736

 
$
(23,225
)
 
$
(18,218
)
(1) Net of deferred tax asset of $521 thousand, $521 thousand and $401 thousand as of June 30, 2015, March 31, 2015 and December 31, 2014, respectively.
The changes in the components of accumulated other comprehensive income, net of tax, for the quarter and six months ended June 30, 2014 were as follows:
(In thousands)
Net cumulative currency translation gains (losses)
 
Net unrealized losses on qualifying cash flow hedges
 
Net unrecognized losses related to pension and severance plans (1)
 
Total
Balance at March 31, 2014
$
(201
)
 
$
(5,848
)
 
$
(19,702
)
 
$
(25,751
)
Other comprehensive income (loss) before reclassifications
(1
)
 
4,441

 
(563
)
 
3,877

Amounts reclassified from accumulated other comprehensive income
—

 
959

 
296

 
1,255

Net current-period other comprehensive income
(1
)
 
5,400

 
(267
)
 
5,132

Balance at June 30, 2014
$
(202
)
 
$
(448
)
 
$
(19,969
)
 
$
(20,619
)
(In thousands)
Net cumulative currency translation gains (losses)
 
Net unrealized losses on qualifying cash flow hedges
 
Net unrecognized losses related to pension and severance plans (1)
 
Total
Balance at December 31, 2013
$
(469
)
 
$
(5,654
)
 
$
(19,660
)
 
$
(25,783
)
Other comprehensive income (loss) before reclassifications
15

 
3,395

 
(905
)
 
2,505

Amounts reclassified from accumulated other comprehensive income
252

 
1,811

 
596

 
2,659

Net current-period other comprehensive income
267

 
5,206

 
(309
)
 
5,164

Balance at June 30, 2014
$
(202
)
 
$
(448
)
 
$
(19,969
)
 
$
(20,619
)
(1) Net of deferred tax liability of $271 thousand, $271 thousand and $530 thousand as of June 30, 2014, March 31, 2014, and December 31, 2013, respectively.