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Other Comprehensive Earnings
6 Months Ended
Jun. 30, 2013
Other Comprehensive Earnings [Abstract]  
Other Comprehensive Earnings [Text Block]
15. Other Comprehensive Earnings

The amounts recognized in other comprehensive earnings were as follows:
 
Three Months Ended
 
Three Months Ended
 
June 30, 2013
 
June 30, 2012
 
Pre-tax
 
Tax
 
Net of tax
 
Pre-tax
 
Tax
 
Net of tax
Foreign currency translation adjustments
$
(2,468
)
 
$
28

 
$
(2,440
)
 
$
(91,318
)
 
$
(1,074
)
 
$
(92,392
)
Pension and other postretirement benefit plans
8,101

 
(2,769
)
 
5,332

 
(1,849
)
 
391

 
(1,458
)
Changes in fair value of cash flow hedges
(307
)
 
108

 
(199
)
 
(378
)
 
132

 
(246
)
Other
377

 
(130
)
 
247

 
524

 
(15
)
 
509

Total other comprehensive earnings (loss)
$
5,703

 
$
(2,763
)
 
$
2,940

 
$
(93,021
)
 
$
(566
)
 
$
(93,587
)

 
Six Months Ended
 
Six Months Ended
 
June 30, 2013
 
June 30, 2012
 
Pre-tax
 
Tax
 
Net of tax
 
Pre-tax
 
Tax
 
Net of tax
Foreign currency translation adjustments
$
(38,292
)
 
$
(998
)
 
$
(39,290
)
 
$
(48,512
)
 
$
(370
)
 
$
(48,882
)
Pension and other postretirement benefit plans
16,211

 
(5,607
)
 
10,604

 
(6,316
)
 
2,056

 
(4,260
)
Changes in fair value of cash flow hedges
279

 
(97
)
 
182

 
377

 
(132
)
 
245

Other
187

 
(22
)
 
165

 
578

 
(26
)
 
552

Total other comprehensive (loss) earnings
$
(21,615
)
 
$
(6,724
)
 
$
(28,339
)
 
$
(53,873
)
 
$
1,528

 
$
(52,345
)


Total comprehensive earnings were as follows:
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2013
 
2012
 
2013
 
2012
Net earnings
$
330,049

 
$
214,101

 
$
540,052

 
$
410,164

Other comprehensive earnings (loss)
2,940

 
(93,587
)
 
(28,339
)
 
(52,345
)
Comprehensive earnings
$
332,989

 
$
120,514

 
$
511,713

 
$
357,819



Amounts reclassified from accumulated other comprehensive earnings (loss) to earnings (loss) during the three and six months ended June 30, 2013 and 2012 were as follows:
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2013
 
2012
 
2013

2012
Pension & postretirement benefit plans: (1)
 
 
 
 
 
 
 
Amortization of actuarial losses
$
5,923

 
$

 
$
11,854

 
$

Amortization of prior service costs
2,178

 

 
4,357

 

Total before tax
8,101

 

 
16,211

 

Tax provision
(2,769
)
 

 
(5,607
)
 

Net of tax
$
5,332

 
$

 
$
10,604

 
$

 
 
 
 
 
 
 
 
Cash flow hedges:
 
 
 
 
 
 
 
Net losses (gains) reclassified into earnings
$
136

 
$
(28
)
 
$
136

 
$
44

Tax (provision) benefit
(48
)
 
10

 
(48
)
 
(15
)
Net of tax
$
88

 
$
(18
)
 
$
88

 
$
29


(1)
In the third quarter of 2012, the Company began to reclassify the amortization of actuarial gains and losses and prior service costs from deferred compensation to accumulated other comprehensive income on a quarterly basis. Prior to that date, these amounts were reclassified on an annual basis.

The Company recognizes net periodic pension cost, which includes amortization of net actuarial losses and prior service costs, in both selling & administrative expenses and cost of goods and services, depending on the functional area of the underlying employees included in the plans.

Cash flow hedges consist mainly of foreign currency forward and commodity contracts. The Company recognizes the realized gains and losses on its cash flow hedges in the same line item as the hedged transaction, such as revenue, cost of goods and services, or selling & administrative expenses.