Stockholders' Equity (Tables)
|
12 Months Ended |
Nov. 30, 2013
|
Stockholders' Equity |
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Schedule of basic and diluted results per share |
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For the Fiscal Years Ended, |
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Nov. 30,
2013 |
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Dec. 1,
2012 |
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Dec. 3,
2011 |
|
Income (loss) from continuing operations for computation of basic and diluted per share results, net of tax |
|
$ |
1,910 |
|
$ |
196 |
|
$ |
(1,308 |
) |
(Loss) income from discontinued operations for computation of basic and diluted per share results, net of tax |
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(7,731 |
) |
|
770 |
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(1,166 |
) |
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Net (loss) income |
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$ |
(5,821 |
) |
$ |
966 |
|
$ |
(2,474 |
) |
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Weighted average shares outstanding for computation of basic per share results |
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5,144,000 |
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5,138,000 |
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5,130,000 |
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Incremental shares from assumed exercise of Griffin stock options(a) |
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8,000 |
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5,000 |
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— |
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Adjusted weighted average shares for computation of diluted per share results |
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5,152,000 |
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5,143,000 |
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5,130,000 |
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- (a)
- Incremental shares from the assumed exercise of Griffin stock options are not included in periods where inclusion of such shares would be anti-dilutive. Such assessment is based on income (loss) from continuing operations when net income includes discontinued operations. For the fiscal year ended December 3, 2011, the incremental shares from the assumed exercise of stock options would have been 8,000 shares.
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Schedule of options granted under 2009 Stock Option Plan to non-employee directors either upon their initial election or their reelection to Board of Directors and to employees |
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For the Fiscal Years Ended, |
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November 30, 2013 |
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December 1, 2012 |
|
December 3, 2011 |
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Number of
Shares |
|
Fair Value per
Option at
Grant Date |
|
Number of
Shares |
|
Fair Value per
Option at
Grant Date |
|
Number of
Shares |
|
Fair Value per
Option at
Grant Date |
Non-employee directors |
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|
8,112 |
|
$ |
12.94 |
|
|
10,996 |
|
$10.66 - $14.89 |
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8,712 |
|
$12.03 |
Employees |
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— |
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— |
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104,500 |
|
$10.37 - $12.88 |
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Total |
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8,112 |
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10,996 |
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113,212 |
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Schedule of assumptions used in determining fair values of each option |
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For the Fiscal Years Ended, |
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|
Nov. 30, 2013 |
|
Dec. 1, 2012 |
|
Dec. 3, 2011 |
Expected volatility |
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|
40.3 |
% |
39.6% - 41.1% |
|
42.0% - 43.4% |
Range of risk free interest rates |
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|
1.33 |
% |
1.02% - 1.19% |
|
2.06% - 2.81% |
Expected option term (in years) |
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|
8.5 |
|
8.5 |
|
5 to 8.5 |
Annual dividend yield |
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|
0.7 |
% |
0% - 0.7% |
|
1.4% |
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Schedule of compensation expense and related tax benefits for stock options |
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For the Fiscal Years Ended, |
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Nov. 30, 2013 |
|
Dec. 1, 2012 |
|
Dec. 3, 2011 |
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Compensation expense |
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$ |
467 |
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$ |
604 |
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$ |
564 |
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Related tax benefit |
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$ |
114 |
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$ |
148 |
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$ |
138 |
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Schedule of option holders |
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Number of option holders at November 30, 2013 |
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17 |
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Schedule of unrecognized compensation expense related to nonvested stock options that will be recognized during future periods |
As of November 30, 2013, the unrecognized compensation expense related to nonvested stock options that will be recognized during future periods is as follows:
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Fiscal 2014 |
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$ |
262 |
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Fiscal 2015 |
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$ |
111 |
|
Fiscal 2016 |
|
$ |
12 |
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Summary of the activity under the Griffin Stock Option Plan |
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Number of
Shares |
|
Weighted Avg.
Exercise Price |
|
Outstanding at November 27, 2010 |
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149,611 |
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$ |
29.69 |
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Granted in 2011 |
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113,212 |
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28.68 |
|
Exercised in 2011 |
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(10,667 |
) |
|
17.45 |
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Forfeited in 2011 |
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(7,638 |
) |
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28.47 |
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Outstanding at December 3, 2011 |
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244,518 |
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29.79 |
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Granted in 2012 |
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10,996 |
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25.45 |
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Exercised in 2012 |
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(6,741 |
) |
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17.80 |
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Forfeited in 2012 |
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(4,932 |
) |
|
32.43 |
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Outstanding at December 1, 2012 |
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243,841 |
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29.88 |
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Granted in 2013 |
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8,112 |
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29.58 |
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Exercised in 2013 |
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(6,776 |
) |
|
11.81 |
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Forfeited in 2013 |
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(5,500 |
) |
|
31.12 |
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Outstanding at November 30, 2013 |
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239,677 |
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$ |
30.35 |
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Schedule of options by range of exercise prices |
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Range of Exercise Prices |
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Outstanding at
Nov. 30, 2013 |
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Weighted Avg.
Exercise Price |
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Weighted Avg.
Remaining
Contractual Life
(in years) |
|
Total Intrinsic
Value |
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$23.00 - $28.00 |
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21,276 |
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$ |
25.37 |
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6.0 |
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|
162 |
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$28.00 - $32.00 |
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127,826 |
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$ |
28.96 |
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6.9 |
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|
517 |
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$32.00 - $35.00 |
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90,575 |
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$ |
33.48 |
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4.9 |
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2 |
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239,677 |
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$ |
30.35 |
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6.1 |
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$ |
681 |
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Schedule of accumulated other comprehensive loss, and activity |
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Unrealized
loss on cash
flow hedges |
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Unrealized gain
on investment
in Centaur Media |
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Actuarial gain
on postretirement
benefit plan |
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Total |
|
Balance December 1, 2012 |
|
$ |
(2,011 |
) |
$ |
1,054 |
|
$ |
236 |
|
$ |
(721 |
) |
Other comprehensive income (loss) before reclassfications |
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|
100 |
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|
310 |
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|
68 |
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|
478 |
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Amounts reclassified |
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|
510 |
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(716 |
) |
|
— |
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(206 |
) |
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Net current period activity for other comprehensive loss |
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|
610 |
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(406 |
) |
|
68 |
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|
272 |
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Balance November 30, 2013 |
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$ |
(1,401 |
) |
$ |
648 |
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$ |
304 |
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$ |
(449 |
) |
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Schedule of changes in accumulated other comprehensive income (loss) |
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For the Fiscal Years Ended, |
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November 30, 2013 |
|
December 1, 2012 |
|
December 3, 2011 |
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Pre-Tax |
|
Tax
(Expense)
Benefit |
|
Net-of-Tax |
|
Pre-Tax |
|
Tax
(Expense)
Benefit |
|
Net-of-Tax |
|
Pre-Tax |
|
Tax
(Expense)
Benefit |
|
Net-of-Tax |
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Reclassifications included in net (loss) income: |
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Realized gain on sale of Centaur Media (gain on sale) |
|
$ |
(1,099 |
) |
$ |
383 |
|
$ |
(716 |
) |
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
Loss on cash flow hedges (interest expense) |
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|
810 |
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(300 |
) |
|
510 |
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|
666 |
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(246 |
) |
|
420 |
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|
730 |
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(270 |
) |
|
460 |
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Total reclassifications included in net (loss) income |
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|
(289 |
) |
|
83 |
|
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(206 |
) |
|
666 |
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|
(246 |
) |
|
420 |
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|
730 |
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(270 |
) |
|
460 |
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Mark to market adjustment on Centaur Media for the increase (decrease) in fair value |
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|
481 |
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|
(169 |
) |
|
312 |
|
|
1,111 |
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|
(389 |
) |
|
722 |
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|
(2,098 |
) |
|
735 |
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|
(1,363 |
) |
Mark to market adjustment on Centaur Media for the increase (decrease) in exchange gain |
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|
(1 |
) |
|
(1 |
) |
|
(2 |
) |
|
110 |
|
|
(38 |
) |
|
72 |
|
|
1 |
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|
— |
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|
1 |
|
Increase (decrease) in fair value adjustment on Griffin's cash flow hedges |
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|
159 |
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|
(59 |
) |
|
100 |
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|
(1,442 |
) |
|
533 |
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|
(909 |
) |
|
(1,664 |
) |
|
616 |
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(1,048 |
) |
Actuarial gain (loss) on postretirement benefits program |
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|
108 |
|
|
(40 |
) |
|
68 |
|
|
(77 |
) |
|
29 |
|
|
(48 |
) |
|
(56 |
) |
|
21 |
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|
(35 |
) |
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Total change in other comprehensive income (loss) |
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|
747 |
|
|
(269 |
) |
|
478 |
|
|
(298 |
) |
|
135 |
|
|
(163 |
) |
|
(3,817 |
) |
|
1,372 |
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|
(2,445 |
) |
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|
Total other comprehensive income (loss) |
|
$ |
458 |
|
$ |
(186 |
) |
$ |
272 |
|
$ |
368 |
|
$ |
(111 |
) |
$ |
257 |
|
$ |
(3,087 |
) |
$ |
1,102 |
|
$ |
(1,985 |
) |
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