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Comprehensive Income
 12 Months Ended
Dec. 31, 2011
Equity [Abstract]  
Comprehensive Income
Comprehensive Income
The components of accumulated other comprehensive income (loss) is as follows:
 
 
December 31,
 
2011
 
2010
 
2009
 
(in thousands)
Foreign currency translation adjustments
$
2,155

 
$
1,540

 
$
275

Deferred loss on cash flow hedge
(7,469
)
 
(8,331
)
 
—

Changes in pension benefit obligation recognized in other comprehensive income (loss)
(1,487
)
 
(401
)
 
58

Total accumulated other comprehensive income (loss)
$
(6,801
)
 
$
(7,192
)
 
$
333



Total other comprehensive income (loss) for years ended 2011, 2010 and 2009 is as follows:
 
 
Amount Before
Taxes
 
Income Tax
(Expense)/
Benefit
 
Amount Net
of Taxes
 
(In thousands)
2011
 
 
 
 
 
Foreign currency translation adjustment, net
$
615

 
$
—

 
$
615

Amortization of loss on cash flow hedge
862

 
—

 
862

Actuarial pension loss
(1,735
)
 
649

 
(1,086
)
Total other comprehensive income
$
(258
)
 
$
649

 
$
391

2010
 
 
 
 
 
Foreign currency translation adjustment, net
$
1,265

 
$
—

 
$
1,265

Settlement of forward starting interest rate swap agreement
(8,663
)
 
—

 
(8,663
)
Amortization of loss on cash flow hedge
332

 
—

 
332

Actuarial pension loss
(734
)
 
275

 
(459
)
Total other comprehensive loss
$
(7,800
)
 
$
275

 
$
(7,525
)
2009
 
 
 
 
 
Foreign currency translation adjustment, net
$
2,213

 
$
—

 
$
2,213

Amortization of pension related costs
 
 
 
 
 
Prior service costs
230

 
(86
)
 
144

Actuarial pension gain
263

 
(98
)
 
165

Net pension curtailment and re-measurement
2,051

 
(768
)
 
1,283

Total other comprehensive income
$
4,757

 
$
(952
)
 
$
3,805


Cash Flow Hedge
In July 2010, the Company entered into an interest rate swap agreement to protect itself from an increase in the market interest rate on $250 million of 10-year, fixed rate debt with the coupon to be set at market interest rates. The interest rate swap agreement was designated as a cash flow hedge under the guidance for derivatives and hedging. In August 2010, upon issuance of the related fixed-rate debt, the Company terminated and settled the interest rate swap agreement for a cash payment of $8.7 million. The Company recorded the effective portion of this deferred loss as a component of accumulated other comprehensive income (loss). The ineffective portion was calculated at less than $0.1 million and was recognized immediately as a component of earnings under interest expense in the Company’s consolidated statements of income during the year ended December 31, 2010. The effective portion of the deferred loss is being amortized over the term of the related debt as interest expense in the Company’s consolidated statements of income.