Changes In Equity And Comprehensive Income

9 Months Ended

Sep. 30, 2011

Changes In Equity And Comprehensive Income [Abstract]

Changes In Equity And Comprehensive Income

5. Changes in Equity and Comprehensive Income

A summary of the changes in equity for the nine months ended September 30, 2011 and 2010 is provided below:

	Nine Months Ended September 30,
	2011									2010
(in thousands)	Total Shareholders' Equity			Noncontrolling Interests			Total Equity			Total Shareholders' Equity			Noncontrolling Interests		Total Equity
Balance, beginning of period	$	984,944		$	8,086		$	993,030		$	885,762		$	7,940	$	893,702
Dividends		(41,957	)		—			(41,957	)		(37,018	)		—		(37,018	)
Reacquisition of shares on open market		(49,999	)		—			(49,999	)		(29,989	)		—		(29,989	)
Exercise of stock options, net of shares reacquired		19,907			—			19,907			16,391			—		16,391
Stock compensation expense		11,132			—			11,132			9,650			—		9,650
Excess tax benefit from stock based compensation		5,706			—			5,706			1,820			—		1,820
Net income (loss)		151,444			(123	)		151,321			114,782			168		114,950
Less: Currency translation adjustment		(11,368	)		128			(11,240	)		(10,382	)		12		(10,370	)
Less: Changes in pension and postretirement plan assets and benefit obligation, net of tax benefit		3,528			—			3,528			—			—		—
Comprehensive income		143,604			5			143,609			104,400			180		104,580
Balance, end of period	$	1,073,337		$	8,091		$	1,081,428		$	951,016		$	8,120	$	959,136

Comprehensive income for the three months ended September 30, 2011 and 2010 was $0.5 million and $88.4 million, respectively. Other comprehensive loss was $51.9 million and other comprehensive income was $46.8 million for the three months ended September 30, 2011 and 2010, respectively, primarily related to currency translation adjustments.

The table below provides the accumulated balances for each classification of accumulated other comprehensive income, as reflected on the Condensed Consolidated Balance Sheets.

(in thousands)	September 30, 2011			December 31, 2010
Currency translation adjustment	$	65,816		$	77,183
Changes in pension and postretirement plan assets and benefit obligation, net of tax benefit *		(62,137	)		(65,665	)
Accumulated other comprehensive income	$	3,679		$	11,518

* Net of tax benefit of $30,505 and $32,091 for September 30, 2011 and December 31, 2010, respectively.