Shareholders Equity and Other Comprehensive Income

9 Months Ended

Sep. 30, 2011

SHAREHOLDERS’ EQUITY AND COMPREHENSIVE INCOME [Abstract]

Stockholders' Equity Note Disclosure

SHAREHOLDERS’ EQUITY AND COMPREHENSIVE INCOME

Changes in shareholders’ equity for the nine months ended September 30, 2011, were as follows (in thousands):

Balance at December 31, 2010	$	362,670
Net earnings	39,366
Change in pension & post-retirement benefit plan liabilities, net	3,231
Foreign currency translation adjustment, net	(1,386		)
Unrealized gain (loss) on derivative instruments, net	378
Dividends declared	(11,555		)
Employee stock plans and related tax benefit	4,539
Purchase of treasury shares	(3,372		)
Share-based compensation activity	5,541
Balance at September 30, 2011	$	399,412

17. SHAREHOLDERS’ EQUITY AND COMPREHENSIVE INCOME (CONTINUED)

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

	For the three months ended
	September 30, 2011			October 1, 2010
Net earnings	$	12,359		$	15,825
Change in pension and post-retirement benefit plan liabilities,
net of tax of expense of $660 and $250, respectively	1,077			408
Foreign currency translation adjustment	(6,088		)	5,286
Unrealized gain (loss) on derivative instruments,
net of tax expense of $81 and tax benefit of $14, respectively	135			(23		)
Comprehensive income	$	7,483		$	21,496

	For the nine months ended
	September 30, 2011			October 1, 2010
Net earnings	$	39,366		$	23,628
Change in pension and post-retirement benefit plan liabilities,
net of tax of expense of $1,980 and $15,872, respectively	3,231			25,897
Foreign currency translation adjustment	(1,386		)	(2,917		)
Unrealized gain (loss) on derivative instruments,
net of tax expense of $231 and tax benefit of $136, respectively	378			(222		)
Comprehensive income	$	41,589		$	46,386

Expenses reclassified from other comprehensive income into net earnings associated with pension and post-retirement benefit plans were $1.7 million and $5.2 million for the three months and nine months ended September 30, 2011, respectively. Expenses reclassified from other comprehensive income into net earnings associated with pension and post-retirement benefit plans were $0.6 million and $2.3 million for the three months and nine months ended October 1, 2010, respectively.

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

	As of
	September 30, 2011			December 31, 2010
Changes in pension and post-retirement benefit plan liabilities	$	(63,217	)	$	(66,448	)
Foreign currency translation adjustment	(20,267		)	(18,881		)
Unrealized gain (loss) on derivative instruments	(593		)	(971		)
Accumulated other comprehensive income (loss)	$	(84,077	)	$	(86,300	)