Shareholders' Equity and Accumulated Other Comprehensive Income (Tables)

6 Months Ended

Jun. 27, 2014

Stockholders' Equity Note [Abstract]

Schedule of Stockholders Equity

Changes in shareholders’ equity for the six months ended June 27, 2014, and June 28, 2013, respectively, were as follows:

	For the Six Months Ended
	June 27, 2014			June 28, 2013
In thousands
Beginning balance	$	511,292		$	420,193
Comprehensive income	30,896			23,300
Dividends declared	(8,652		)	(8,549		)
Employee stock plans and related tax benefit	4,639			2,654
Purchase of treasury shares	(843		)	(644		)
Share-based compensation expense	3,293			3,065
Ending balance	$	540,625		$	440,019

Schedule of Accumulated Other Comprehensive Income (Loss)

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

	For the Three Months Ended
	June 27, 2014			June 28, 2013
In thousands
Foreign currency translation:
Beginning balance	$	(14,514	)	$	(21,029	)
Net gain/(loss) on foreign currency translation	1,755			(244		)
Reclassification to net income	—			—
Other comprehensive income/(loss), net of tax	1,755			(244		)
Ending balance	$	(12,759	)	$	(21,273	)
Pension and other post-retirement benefits(a):
Beginning balance	(65,653		)	(103,076		)
Reclassification to net income
Amortization of prior service cost, net of tax expense of $7 and $10, respectively	13			15
Amortization of net loss, net of tax expense of $401 and $894, respectively	660			1,461
Other comprehensive income/(loss), net of tax	673			1,476
Ending balance	$	(64,980	)	$	(101,600	)
Derivative instruments(b):
Beginning balance	(516		)	(635		)
Net loss on derivative instruments, net of tax expense (benefit) of ($122) and $105, respectively	(88		)	172
Reclassification to net income, net of tax expense of $84	88			—
Other comprehensive income/(loss), net of tax	—			172
Ending balance	$	(516	)	$	(463	)
Total accumulated other comprehensive income (loss)	$	(78,255	)	$	(123,336	)

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

	For the Six Months Ended
	June 27, 2014			June 28, 2013
In thousands
Foreign currency translation:
Beginning balance	$	(14,219	)	$	(16,515	)
Net gain/(loss) on foreign currency translation	1,460			(4,758		)
Reclassification to net income	—			—
Other comprehensive income/(loss), net of tax	1,460			(4,758		)
Ending balance	$	(12,759	)	$	(21,273	)
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 $17 and $20, respectively	28			30
Amortization of net loss, net of tax expense of $793 and $1,790, respectively	1,309			2,921
Other comprehensive income/(loss), net of tax	1,337			2,951
Ending balance	$	(64,980	)	$	(101,600	)
Derivative instruments(b):
Beginning balance	(585		)	(524		)
Net loss on derivative instruments, net of tax expense (benefit) of ($78) and $38, respectively	(129		)	61
Reclassification to net income, net of tax expense of $119	198			—
Other comprehensive income/(loss), net of tax	69			61
Ending balance	$	(516	)	$	(463	)
Total accumulated other comprehensive income (loss)	$	(78,255	)	$	(123,336	)

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

(See Note 10, Pension Plans for additional information.)

^(b)See Note 7, Derivative Financial Instruments, for additional information regarding our derivative instruments.