Accumulated Other Comprehensive Loss

9 Months Ended

Sep. 30, 2014

Equity [Abstract]

Accumulated Other Comprehensive Loss

8. Accumulated Other Comprehensive Loss

Net change and ending balances for the various components of accumulated other comprehensive loss as of and for the nine months ended September 30, 2014 and 2013 is summarized below. All amounts are net of tax, where applicable.

	Foreign Currency Translation Adjustments			Unrecognized Employee Benefit Costs			Unrealized Holding Gains on Marketable Securities		Cash Flow Hedges			Accumulated Other Comprehensive Loss
Balance at January 1, 2014	$	277		$	(47,462	)	$	1,007	$	313		$	(45,865	)
Net Change	$	(1,945	)		7,749			54		(125	)		5,733
Balance at September 30, 2014	$	(1,668	)	$	(39,713	)	$	1,061	$	188		$	(40,132	)
Balance at January 1, 2013	$	(1,543	)	$	(81,783	)	$	633	$	318		$	(82,375	)
Net Change		97			4,331			245		(71	)		4,602
Balance at September 30, 2013	$	(1,446	)	$	(77,452	)	$	878	$	247		$	(77,773	)

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

	Three Months Ended September 30,						Nine Months Ended September 30,
	2014			2013			2014			2013			Affected Line Item
Amortization of unrecognized employee benefit costs	$	844		$	1,442		$	2,752		$	4,262		Costs of products sold (excluding depreciation)
		401			573			1,136			1,682		Selling and administrative
		44			217			128			650		Other income (expense)
		1,289			2,232			4,016			6,594		Total before income tax
		(462	)		(774	)		(1,404	)		(2,349	)	Income tax provision
	$	827		$	1,458		$	2,612		$	4,245		Net of tax
Realized (gains) from sale of marketable securities	$	(37	)	$	(26	)	$	(91	)	$	(79	)	Selling and administrative
		13			9			32			28		Income tax provision
	$	(24	)	$	(17	)	$	(59	)	$	(51	)	Net of tax
Realized (gains) losses from settlement of cash flow hedges:
Foreign currency sales contracts	$	(22	)	$	0		$	(22	)	$	0		Depreciation
Foreign currency purchase contracts		(6	)		(6	)		(20	)		(20	)	Depreciation
Futures contracts – copper and aluminum		7			237			130			352		Costs of products sold (excluding depreciation)
		(21	)		231			88			332		Total before income tax
		8			(87	)		(33	)		(126	)	Income tax provision
	$	(13	)	$	144		$	55		$	206		Net of tax

The income tax expense (benefit) associated with the various components of other comprehensive (loss) income 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.

	Three Months Ended September 30,						Nine Months Ended September 30,
	2014			2013			2014			2013
Tax expense (benefit) associated with changes in:
Unrecognized employee benefit costs	$	0		$	0		$	(2,739	)	$	0
Unrealized holding losses/gains on marketable securities		37			(55	)		(60	)		(159	)
Fair value of cash flow hedges		40			(93	)		107			165
Tax expense (benefit) associated with reclassification adjustments:
Amortization of unrecognized employee benefit costs		(462	)		(774	)		(1,404	)		(2,349	)
Realized gains from sale of marketable securities		13			9			32			28
Realized gains/losses from settlement of cash flow hedges		8			(87	)		(33	)		(126	)