Accumulated Other Comprehensive Loss

12 Months Ended

Dec. 31, 2013

Equity [Abstract]

Accumulated Other Comprehensive Loss

NOTE 10 – ACCUMULATED OTHER COMPREHENSIVE LOSS:

Net change and ending balances for the various components of other comprehensive income (loss) and for accumulated other comprehensive loss as of and for the year ended December 31, 2011, 2012 and 2013 are summarized below.

	Foreign Currency Translation Adjustments			Unrecognized Components of Employee Benefit Plans			Unrealized Holding Gains (Losses) on Securities			Derivatives			Accumulated Other Comprehensive Loss
Balance at January 1, 2011	$	(5,389	)	$	(55,861	)	$	577		$	1,199		$	(59,474	)
Net Change		653			(19,364	)		(15	)		(1,090	)		(19,816	)
Balance at December 31, 2011		(4,736	)		(75,225	)		562			109			(79,290	)
Net Change		3,193			(6,558	)		71			209			(3,085	)
Balance at December 31, 2012		(1,543	)		(81,783	)		633			318			(82,375	)
Net Change		1,820			34,321			374			(5	)		36,510
Balance at December 31, 2013	$	277		$	(47,462	)	$	1,007		$	313		$	(45,865	)

The following summarizes the line items affected on the consolidated statements of operations for components reclassified from accumulated other comprehensive loss for each of the years ended December 31. Amounts in parentheses represent credits to net income.

	2013			2012			2011
Amortization of unrecognized employee benefit costs:
Costs of products sold (excluding depreciation)	$	5,691		$	4,807		$	3,764
Selling and administrative		2,241			1,939			1,371
Other income (expense)		867			763			595
Total before income tax		8,799			7,509			5,730
Income tax provision		(3,156	)		(3,547	)		(2,066	)
Net of income tax	$	5,643		$	3,962		$	3,664
Realized gains/losses on sale of marketable securities:
Selling and administrative	$	(87	)	$	(120	)	$	20
Income tax provision		30			42			(7	)
Net of income tax	$	(57	)	$	(78	)	$	13
Realized gains/losses from settlement of cash flow hedges:
Net sales (foreign currency sales contracts)	$	0		$	(197	)	$	(228	)
Depreciation (foreign currency purchase contracts)		(27	)		(27	)		(32	)
Costs of products sold (excluding depreciation) (futures contracts – copper and aluminum)		419			398			(353	)
Total before income tax		392			174			(613	)
Income tax provision		(146	)		(67	)		230
Net of income tax	$	246		$	107		$	(383	)
The income tax expense (benefit) associated with the various components of other comprehensive income (loss) for each of the years ended December 31 is summarized below. Foreign currency translation adjustments exclude the effect of income taxes since earnings of non-U.S. subsidiaries are deemed to be reinvested for an indefinite period of time.
	2013			2012			2011
Income tax expense (benefit) associated with changes in:
Unrecognized employee benefit costs	$	(15,890	)	$	5,256		$	12,958
Unrealized holding gains/losses on marketable securities		(232	)		(80	)		15
Fair value of cash flow hedges		149			(61	)		427
Income tax expense (benefit) associated with reclassification adjustments:
Amortization of unrecognized employee benefit costs		(3,156	)		(3,547	)		(2,066	)
Realized gains/losses from sale of marketable securities		30			42			(7	)
Realized gains/losses from settlement of cash flow hedges		(146	)		(67	)		230