Accumulated Other Comprehensive Income (Loss)

12 Months Ended

Dec. 31, 2014

Accumulated Other Comprehensive Income (Loss) [Abstract]

Accumulated Other Comprehensive Income (Loss)

Note 10 – Accumulated Other Comprehensive Income (Loss)

The cumulative balance of each component of other comprehensive income (loss) and the income tax effects allocated to each component are as follows:

	Pension and other post-retirement actuarial items			Currency translation adjustment			Unrealized gain (loss) on available-for-sale securities			Total
Balance at January 1, 2012	$	(149,197	)	$	152,894		$	81		$	3,778
Other comprehensive income before reclassifications		(57,072	)		14,567			1,834		$	(40,671	)
Tax effect		16,626			-			(642	)	$	15,984
Other comprehensive income before reclassifications, net of tax		(40,446	)		14,567			1,192		$	(24,687	)
Amounts reclassified out of AOCI		16,059			-			-		$	16,059
Tax effect		(5,372	)		-			-		$	(5,372	)
Amounts reclassified out of AOCI, net of tax		10,687			-			-		$	10,687
Net comprehensive income	$	(29,759	)	$	14,567		$	1,192		$	(14,000	)
Balance at December 31, 2012	$	(178,956	)	$	167,461		$	1,273		$	(10,222	)
Other comprehensive income before reclassifications		52,545			23,537			913		$	76,995
Tax effect		(16,334	)		-			(299	)	$	(16,633	)
Other comprehensive income before reclassifications, net of tax		36,211			23,537			614		$	60,362
Amounts reclassified out of AOCI		19,112			-			(2,019	)	$	17,093
Tax effect		(6,285	)		-			686		$	(5,599	)
Amounts reclassified out of AOCI, net of tax		12,827			-			(1,333	)	$	11,494
Net comprehensive income	$	49,038		$	23,537		$	(719	)	$	71,856
Balance at December 31, 2013	$	(129,918	)	$	190,998		$	554		$	61,634
Other comprehensive income (loss) before reclassifications		(60,602	)		(106,295	)		2,175		$	(164,722	)
Tax effect		18,117			-			(758	)	$	17,359
Other comprehensive income (loss) before reclassifications, net of tax		(42,485	)		(106,295	)		1,417		$	(147,363	)
Amounts reclassified out of AOCI		25,604			-			(78	)	$	25,526
Tax effect		(8,961	)		-			24		$	(8,937	)
Amounts reclassified out of AOCI, net of tax		16,643			-			(54	)	$	16,589
Net comprehensive income (loss)	$	(25,842	)	$	(106,295	)	$	1,363		$	(130,774	)
Balance at December 31, 2014	$	(155,760	)	$	84,703		$	1,917		$	(69,140	)

Reclassifications of pension and other post-retirement actuarial items out of AOCI are included in the computation of net periodic benefit cost. (See Note 11 for further information). The amount of unrealized gains (losses) on available-for-sale securities reclassified out of AOCI as a result of sales of securities held by the Company's rabbi trust used to fund a deferred compensation plan was $24, $1,966, and $0 for the years ended December 31, 2014, 2013, and 2012, respectively.  These reclassifications are recorded as a component of compensation expense within Selling, General, and Administrative expenses on our consolidated condensed statements of operations. The pre-tax amount of unrealized gains (losses) on available-for-sale securities reclassified out of AOCI as a result of sales of available-for-sale securities was $54, $53, and $0 for the years ended December 31, 2014, 2013, and 2012, respectively.  These reclassifications are recorded as a component of Other Income on our consolidated condensed statements of operations.  The tax effect of the reclassifications of unrealized gains (losses) on available-for-sale securities is recorded as a component of Income Tax Expense on our consolidated condensed statements of operations.

Other comprehensive income (loss) includes Vishay's proportionate share of other comprehensive income (loss) of nonconsolidated subsidiaries accounted for under the equity method.