XML 32 R19.htm IDEA: XBRL DOCUMENT v3.3.1.900
Accumulated Other Comprehensive Loss
 12 Months Ended
Dec. 31, 2015
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Loss
Shareholders' equity includes certain items classified as accumulated other comprehensive loss ("AOCI") in the Consolidated Balance Sheets, including:
•
Unrealized gains (losses) on hedges relate to interest rate swaps to convert the line of credit's variable rate of interest into a fixed rate. These hedges are designated as cash flow hedges, and CTS has deferred income statement recognition of gains and losses until the hedged transaction is settled. Amounts reclassified to income from AOCI for hedges are included in interest expense. Further information related to CTS' interest rate swaps is included in NOTE 15, "Fair Value Measurements".
•
Unrealized gains (losses) on pension obligations are deferred from income statement recognition until the gains or losses are realized. Amounts reclassified to income from AOCI are included in net periodic pension expense. Further information related to CTS' pension obligations is included in NOTE 5, "Retirement Plans".
•
Cumulative translation adjustment relates to our non-U.S. subsidiaries that have designated a functional currency other than the U.S. dollar. CTS is required to translate the subsidiary functional currency financial statements to dollars using a combination of historical, period-end, and average foreign exchange rates. This combination of rates creates the foreign currency translation adjustment component of other comprehensive income. Transfer of foreign currency translation gains and (losses) from AOCI to income are included in other (expense) income.


The components of AOCI for 2015 are as follows:
 
As of December 31, 2014
Gain (Loss)
Recognized
in OCI
Gain (Loss)
reclassified
from AOCI
to income
As of December 31, 2015
Changes in fair market value of hedges:
 

 

 

 

Gross
$
(1,020
)
$
(516
)
$
768

$
(768
)
Income tax expense (benefit)
384

194

(289
)
289

Net
(636
)
(322
)
479

(479
)
Changes in unrealized pension cost:
 

 

 

 

Gross
(169,291
)
—

7,572

(161,719
)
Income tax expense (benefit)
65,124

—

(763
)
64,361

Net
(104,167
)
—

6,809

(97,358
)
Cumulative translation adjustment:
 

 

 

 

Gross
245

(1,524
)
—

(1,279
)
Income tax expense (benefit)
325

(214
)
—

111

Net
570

(1,738
)
—

(1,168
)
Total accumulated other comprehensive (loss) income
$
(104,233
)
$
(2,060
)
$
7,288

$
(99,005
)



The components of AOCI for 2014 are as follows:
 
As of December 31, 2013
(Loss) Gain
recognized
in OCI
Gain (Loss)
reclassified
from AOCI
to income
As of December 31, 2014
Changes in fair market value of hedges:
 

 

 

 

Gross
$
(998
)
$
(510
)
$
488

$
(1,020
)
Income tax expense (benefit)
402

167

(185
)
384

Net
(596
)
(343
)
303

(636
)
Changes in unrealized pension cost:
 

 

 

 

Gross
(138,133
)
(37,043
)
5,885

(169,291
)
Income tax expense (benefit)
55,028

12,267

(2,171
)
65,124

Net
(83,105
)
(24,776
)
3,714

(104,167
)
Cumulative translation adjustment:
 

 

 

 

Gross
949

(704
)
—

245

Income tax expense (benefit)
855

(530
)
—

325

Net
1,804

(1,234
)
—

570

Total accumulated other comprehensive (loss) income
$
(81,897
)
$
(26,353
)
$
4,017

$
(104,233
)