Other Comprehensive Earnings

9 Months Ended

Sep. 29, 2013

Equity [Abstract]

Other Comprehensive Earnings

Note N – Other Comprehensive Earnings

The following table displays the changes in Accumulated Other Comprehensive Earnings/(Loss) by components for the nine months ended September 29, 2013 (all amounts are stated net of tax):

($ in thousands)	Cumulative translation adjustment			Defined benefit pension items			Unrealized gains and losses on cash flow hedges			Total
Accumulated other comprehensive loss—balance at January 1, 2013	$	1,219		$	(120,843	)	$	(980	)	$	(120,604	)
Other comprehensive loss before reclassifications		(166	)		—			229			63
Amounts reclassified from accumulated other comprehensive loss		—			4,046			144			4,190
Net current period other comprehensive loss	$	(166	)	$	4,046		$	373		$	4,253
Accumulated other comprehensive loss—balance at September 29, 2013	$	1,053		$	(116,797	)	$	(607	)	$	(116,351	)

The following table displays the reclassifications out of Accumulated Other Comprehensive Earnings/(Loss) for the nine months ended September 29, 2013:

($ in thousands) Details about Accumulated Other Comprehensive Earnings Components	Amount Reclassified from Accumulated Other Comprehensive Earnings(a)			Affected Line Item in the Statement Where Net Income is Presented
Losses on cash flow hedges:
Interest rate swap contracts	$	236		Interest expense
		(92	)	Tax benefit
	$	144		Net of tax
Amortization of defined benefit and post-retirement benefit plans:
Prior service costs	$	436		(b)
Loss included in net periodic pension costs		6,058		(b)
Foreign exchange impact		61		Other expense
		6,555		Total before tax
	$	(2,509	)	Tax benefit
		4,046		Net of tax
Total reclassification for the period	$	4,190		Net of tax

^(a) Amounts in parenthesis indicate credit.

^(b) These accumulated other comprehensive earnings components are included in the computation of net periodic pension cost. The actuarial loss that was reclassified to Cost of goods sold of $2,251, Selling, general and administrative expenses of $3,017 and research and development expenses of $1,226 are reflected on CTS’ Unaudited Condensed Consolidated Statements of Earnings/(Loss).