Shareholders' Equity and Accumulated Other Comprehensive Income

3 Months Ended

Mar. 28, 2014

Stockholders' Equity Note [Abstract]

Stockholders' Equity and Accumulated Other Comprehensive Income

SHAREHOLDERS' EQUITY AND ACCUMULATED OTHER COMPREHENSIVE INCOME

Changes in shareholders’ equity for the three months ended March 28, 2014, were as follows:

	For the Three Months Ended
	March 28, 2014			March 29, 2013
In thousands
Beginning balance	$	511,292		$	420,193
Comprehensive income	11,895			4,004
Dividends declared	(4,319		)	(4,269		)
Employee stock plans and related tax benefit	2,120			1,482
Purchase of treasury shares	(687		)	(613		)
Share-based compensation expense	1,314			1,187
Ending balance	$	521,615		$	421,984

13. SHAREHOLDERS' EQUITY AND ACCUMULATED OTHER COMPREHENSIVE INCOME (CONTINUED)

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

	For the Three Months Ended
	March 28, 2014			March 29, 2013
In thousands
Foreign currency translation:
Beginning balance	$	(14,219	)	$	(16,515	)
Net gain/(loss) on foreign currency translation	(295		)	(4,514		)
Reclassification to net income	—			—
Other comprehensive income/(loss), net of tax	(295		)	(4,514		)
Ending balance	$	(14,514	)	$	(21,029	)
Pension and other post-retirement benefits(a):
Beginning balance	$	(66,317	)	$	(104,551	)
Reclassification to net income
Amortization of prior service cost, net of tax expense of $10 and $10, respectively	15			15
Amortization of net loss, net of tax expense of $392 and $894, respectively	649			1,460
Other comprehensive income/(loss), net of tax	664			1,475
Ending balance	$	(65,653	)	$	(103,076	)
Derivative instruments(b):
Beginning balance	$	(585	)	$	(524	)
Net loss on derivative instruments, net of tax expense (benefit) of $44 and $(68), respectively	(41		)	(111		)
Reclassification to net income, net of tax benefit of $35	110			—
Other comprehensive income/(loss), net of tax	69			(111		)
Ending balance	$	(516	)	$	(635	)
Total accumulated other comprehensive income (loss)	$	(80,683	)	$	(124,740	)

^(a)These accumulated other comprehensive income components are included in the computation of net periodic pension cost.

(See Note 8, Pension Plans for additional information.)

^(b)See Note 5, Derivative Financial Instruments, for additional information regarding our derivative instruments.