Shareholders Equity and Other Comprehensive Income

6 Months Ended

Jul. 01, 2011

SHAREHOLDERS’ EQUITY AND COMPREHENSIVE INCOME [Abstract]

Stockholders' Equity Note Disclosure

SHAREHOLDERS’ EQUITY AND COMPREHENSIVE INCOME

Changes in shareholders’ equity for the six months ended July 1, 2011, were as follows (in thousands):

Balance at December 31, 2010	$	362,670
Net earnings	27,007
Change in pension & post-retirement benefit plan liabilities, net	2,154
Foreign currency translation adjustment, net	4,702
Unrealized gain (loss) on derivative instruments, net	243
Dividends declared	(7,354		)
Employee stock plans and related tax benefit	3,143
Share-based compensation activity	4,476
Balance at July 1, 2011	$	397,041

Comprehensive income (loss) is shown below (in thousands):

	For the three months ended
	July 1, 2011		July 2, 2010
Net earnings	$	13,421	$	6,077
Change in pension and post-retirement benefit plan liabilities,
net of tax of expense of $613 and $236, respectively	994		393
Foreign currency translation adjustment	530		(3,235		)
Unrealized gain (loss) on derivative instruments,
net of tax expense of $75 and tax benefit of $24, respectively	122		(38		)
Comprehensive income	$	15,067	$	3,197

	For the six months ended
	July 1, 2011		July 2, 2010
Net earnings	$	27,007	$	7,803
Change in pension and post-retirement benefit plan liabilities,
net of tax of expense of $1,320 and $15,622, respectively	2,154		25,489
Foreign currency translation adjustment	4,702		(8,203		)
Unrealized gain (loss) on derivative instruments,
net of tax expense of $150 and tax benefit of $122, respectively	243		(199		)
Comprehensive income	$	34,106	$	24,890

Expenses reclassified from other comprehensive income into net earnings associated with pension and post-retirement benefit plans were $1.6 million and $3.5 million for the three months and six months ended July 1, 2011, respectively. Expenses reclassified from other comprehensive income into net earnings associated with pension and post-retirement benefit plans were $0.6 million and $1.7 million for the three months and six months ended July 2, 2010, respectively.

The components of accumulated other comprehensive income (loss) are shown below (in thousands):

	As of
	July 1, 2011			December 31, 2010
Changes in pension and post-retirement benefit plan liabilities	$	(64,294	)	$	(66,448	)
Foreign currency translation adjustment	(14,179		)	(18,881		)
Unrealized gain (loss) on derivative instruments	(728		)	(971		)
Accumulated other comprehensive income (loss)	$	(79,201	)	$	(86,300	)