Comprehensive Income

6 Months Ended

Jun. 30, 2011

Other Comprehensive Income (Loss), Net of Tax [Abstract]

Comprehensive Income (Loss) Note [Text Block]

COMPREHENSIVE INCOME:

Comprehensive income is the total of net income and all other non-owner changes in equity. The following tables set forth the Company’s comprehensive income for the three and six months ended June 30, 2011 and 2010 (dollars in thousands):

	Three Months Ended
	June 30,
	2011			2010
Net income	$	31,145		$	20,635
Other comprehensive income:
Foreign currency translation adjustments	9,547			(14,535		)
Net unrealized loss on qualifying cash flow hedges, net of tax benefits of $140 and $693, respectively	(246		)	(1,219		)
Changes in pension and other postretirement benefits, net of tax provisions of $26 and $20, respectively	46			35
Comprehensive income	$	40,492		$	4,916
	Six Months Ended
	June 30,
	2011			2010
Net income	$	53,267		$	36,595
Other comprehensive income:
Foreign currency translation adjustments	16,223			(12,193		)
Net unrealized gain/(loss) on qualifying cash flow hedges, net of tax (provision)/benefit of ($253) and $1,125, respectively	444			(1,978		)
Changes in pension and other postretirement benefits, net of tax benefit/(provision) of $71 and ($156), respectively	(125		)	274
Comprehensive income	$	69,809		$	22,698

The following table sets forth accumulated other comprehensive income included in the consolidated balance sheets as of June 30, 2011 and December 31, 2010 (dollars in thousands):

	Foreign Currency Translation Adjustment		Defined Benefit Plans			Net Unrealized Losses on Cash Flow Hedges			Accumulated Other Comprehensive Income
Balance, December 31, 2010	$	45,905	$	22		$	(5,813	)	$	40,114
Current period change	16,223		(125		)	444			16,542
Balance, June 30, 2011	$	62,128	$	(103	)	$	(5,369	)	$	56,656

The change in the foreign currency translation adjustment for the six months ended June 30, 2011, related primarily to the Company’s operations with a functional currency in Australian and Canadian dollars.