Other Comprehensive Income (Loss) (Tables)

6 Months Ended

Jun. 30, 2014

Equity [Abstract]

Comprehensive Income

The difference between comprehensive income and net income was due to foreign currency translation adjustments and pension and other post-retirement benefit adjustments, as summarized below.

	Three Months Ended June 30,						Six Months Ended June 30,
	2014			2013			2014			2013
	(in thousands)						(in thousands)
Net income	$	197,727		$	216,357		$	355,211		$	360,746
Other comprehensive income:
Foreign currency translation		38,537			(114,049	)		38,639			(122,269	)
Pension and other post-retirement benefit adjustments:
Recognition of prior service credit, net of tax		(493	)		(1,319	)		(980	)		(2,642	)
Recognition of actuarial loss, net of tax		4,303			13,079			8,581			26,180
Total other comprehensive income (loss)		42,347			(102,289	)		46,240			(98,731	)
Comprehensive income	$	240,074		$	114,068		$	401,451		$	262,015

Changes in Accumulated Other Comprehensive (Loss) Income by Component

The following tables present the changes in accumulated other comprehensive (loss) income by component for the six months ended June 30:

	2014
	Changes in Accumulated Other Comprehensive (Loss) Income by Component
	Pension and Other Post- Retirement Benefits			Foreign Currency Translation			Total
	(in thousands)
Beginning balance, January 1	$	(360,036	)	$	(37,619	)	$	(397,655	)
Other comprehensive income before reclassifications, net of tax		—			38,639			38,639
Amounts reclassified from accumulated other comprehensive (loss) income, net of tax		7,601			—			7,601
Net current period other comprehensive income		7,601			38,639			46,240
Ending balance, June 30	$	(352,435	)	$	1,020		$	(351,415	)

	2013
	Changes in Accumulated Other Comprehensive (Loss) Income by Component
	Pension and Other Post- Retirement Benefits			Foreign Currency Translation			Total
	(in thousands)
Beginning balance, January 1	$	(632,576	)	$	131,084		$	(501,492	)
Other comprehensive loss before reclassifications, net of tax		—			(122,269	)		(122,269	)
Amounts reclassified from accumulated other comprehensive (loss) income, net of tax		23,538			—			23,538
Net current period other comprehensive income (loss)		23,538			(122,269	)		(98,731	)
Ending balance, June 30	$	(609,038	)	$	8,815		$	(600,223	)