Changes in Equity and Comprehensive Income

6 Months Ended

Jun. 30, 2012

Changes in Equity and Comprehensive Income

Note 5 - Changes in Equity and Comprehensive Income

A summary of the changes in equity for the six months ended June 30, 2012 and 2011 is provided below:

	Six Months Ended June 30,
	2012									2011
(in thousands)	Total Shareholders’ Equity			Noncontrolling Interests			Total Equity			Total Shareholders’ Equity			Noncontrolling Interests		Total Equity
Balance, beginning of period	$	813,553		$	8,503		$	822,056		$	984,944		$	8,086	$	993,030
Dividends		(30,075	)		—			(30,075	)		(26,859	)				(26,859	)
Reacquisition on open market		(29,991	)		—			(29,991	)		(49,999	)				(49,999	)
Exercise of stock options, net of shares reacquired		7,729			—			7,729			17,308					17,308
Stock compensation expense		8,458			—			8,458			7,274					7,274
Excess tax benefit from stock based compensation		3,278			—			3,278			5,359					5,359
Net income		114,224			319			114,543			98,904			11		98,915
Other comprehensive income (loss)		8,566			(61	)		8,505			44,026			211		44,237
Comprehensive income		122,790			258			123,048			142,930			222		143,152
Balance, end of period	$	895,742		$	8,761		$	904,503		$	1,080,957		$	8,308	$	1,089,265

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

	June 30, 2012			December 31, 2011
Currency translation adjustment	$	66,618		$	64,910
Changes in pension and postretirement plan assets and benefit obligation, net of tax benefit *		(151,564	)		(158,422	)
Accumulated other comprehensive loss	$	(84,946	)	$	(93,512	)

* Net of tax benefit of $73,309 and $76,179 for June 30, 2012 and December 31, 2011, respectively.