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Comprehensive Income (Loss)
6 Months Ended
Jun. 30, 2019
Comprehensive Income (Loss)  
Comprehensive Income (Loss)

13.Comprehensive Income (Loss)

Comprehensive income for the three and six months ended June 30, 2019 and 2018, was as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended June 30, 

 

Six Months Ended June 30, 

 

    

2019

    

2018

    

2019

    

2018

 

 

(Dollars in thousands)

Net earnings

 

$

1,514

 

$

1,523

 

$

5,482

 

$

4,339

Foreign currency translation adjustments

 

 

100

 

 

(991)

 

 

230

 

 

(1,110)

Pension liability, net of tax of $44,  $42,  $82, and $83, respectively

 

 

123

 

 

118

 

 

231

 

 

236

Total comprehensive income

 

$

1,737

 

$

650

 

$

5,943

 

$

3,465

 

The components of accumulated other comprehensive loss as recorded on the Consolidated Condensed Balance Sheets (Unaudited) were as follows:

 

 

 

 

 

 

 

 

 

 

June 30, 

 

December 31, 

 

    

2019

    

2018

 

 

(Dollars in thousands)

Foreign currency translation adjustments

 

$

(6,671)

 

$

(6,901)

Pension liability, net of tax

 

 

(14,440)

 

 

(14,671)

Total accumulated other comprehensive loss

 

$

(21,111)

 

$

(21,572)

 

The following presents a tabular disclosure about changes in accumulated other comprehensive loss during the six months ended June 30, 2019:

 

 

 

 

 

 

 

 

 

 

 

 

    

Foreign

    

Defined

    

 

 

 

 

Currency

 

Benefit

 

 

 

 

 

Translation

 

Pension

 

 

 

 

 

Adjustments

 

Items

 

Total

Beginning balance, December 31, 2018

 

$

(6,901)

 

$

(14,671)

 

$

(21,572)

Other comprehensive income before reclassifications

 

 

230

 

 

 –

 

 

230

Amounts reclassified from accumulated other comprehensive loss

 

 

 –

 

 

231

 

 

231

Net current period other comprehensive income

 

 

230

 

 

231

 

 

461

Ending balance, June 30, 2019

 

$

(6,671)

 

$

(14,440)

 

$

(21,111)

 

The following presents a tabular disclosure about reclassification adjustments out of accumulated other comprehensive loss during the six months ended June 30, 2019:

 

 

 

 

 

 

 

 

    

Amounts reclassified

    

 

 

 

from accumulated other

 

 

 

 

comprehensive loss for

 

Affected line item in the

 

 

the six months ended

 

statement where net

 

 

June 30, 2019

 

income is presented

 

 

 

 

 

 

Amortization of defined benefit pension items

 

 

  

 

  

Prior service cost

 

$

(31)

(1)

Other expense, net

Actuarial losses

 

 

344

(1)

Other expense, net

Total before tax

 

 

313

 

  

Tax benefit

 

 

(82)

 

  

Net of tax

 

$

231

 

  


(1)These amounts were included in net periodic pension cost. See Note 8 for additional details.