Accumulated Other Comprehensive Loss

12 Months Ended

Dec. 31, 2013

Accumulated Other Comprehensive Loss [Abstract]

Accumulated Other Comprehensive Loss

NOTE U – ACCUMULATED OTHER COMPREHENSIVE LOSS

	(All Amounts in Thousands)		Gains and Losses on Derivatives Fair Value *		Unrealized Translation Loss		Defined Benefit Pension Items		Total
Beginning balance as of January 1, 2013		$	(7,352)	$	(350)	$	(17,244)	$	(24,946)
	Other comprehensive income (loss)
	before reclassification		5,300		(64)		6,677		11,913
	Amount reclassified from accumulated
	other comprehensive income		(2,227)		-		1,350		(877)
Net current-period other comprehensive income			3,073		(64)		8,027		11,036
Ending balance as of December 31, 2013		$	(4,279)	$	(414)	$	(9,217)	$	(13,910)

*The fair value balance as of December 31, 2013, includes a negative $659,000 balance related to an interest rate swap from our 25% investment in Oslo Bulk AS.

Details about Accumulated Other Comprehensive Income Components            (All Amounts in Thousands)			Amount Reclassified from Accumulated Other Comprehensive Income	Affected Line Item in the Statement Where Net Income is Presented
Gains and losses on derivatives fair value
	Interest rate contracts	$	(2,093)	Interest expense
	Foreign exchange contracts		(134)	Other revenues
			(2,227)	Total before tax
			-	Tax (expense) or benefit
			(2,227)	Net of tax
Amortization of defined benefit pension items
	Prior service costs		97	A&G Expense
	Actuarial losses		1,253	A&G Expense
			1,350	Total before tax
			-	Tax (expense) or benefit
			1,350	Net of tax
Total reclassifications for the period		$	(877)	Net of tax

	(All Amounts in Thousands)		Gains and Losses on Derivatives Fair Value *		Unrealized Translation Loss		Defined Benefit Pension Items		Bonds Adjusted for Market Value		Total
Beginning balance as of January 1, 2012		$	(8,595)	$	(445)	$	(15,035)	$	128	$	(23,947)
	Other comprehensive (loss) income
	before reclassification		5,014		95		(3,173)		(128)		1,808
	Amount reclassified from accumulated
	other comprehensive income		(3,771)		-		964		-		(2,807)
Net current-period other comprehensive income			1,243		95		(2,209)		(128)		(999)
Ending balance as of December 31, 2012		$	(7,352)	$	(350)	$	(17,244)	$	-	$	(24,946)

*The fair value balance as of December 31, 2012, includes a negative $1.0 million balance related to an interest rate swap from our 25% investment in Oslo Bulk AS.

Details about Accumulated Other Comprehensive Income Components            (All Amounts in Thousands)			Amount Reclassified from Accumulated Other Comprehensive Income	Affected Line Item in the Statement Where Net Income is Presented
Gains and losses on derivatives fair value
	Interest rate contracts	$	(3,591)	Interest expense
	Foreign exchange contracts		(180)	Other revenues
			(3,771)	Total before tax
			-	Tax (expense) or benefit
			(3,771)	Net of tax
Amortization of defined benefit pension items
	Prior service costs		(15)	A&G Expense
	Actuarial losses		979	A&G Expense
	Actuarial gains (losses)		-
			964	Total before tax
			-	Tax (expense) or benefit
			964	Net of tax
Total reclassifications for the period		$	(2,807)	Net of tax