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Accumulated Other Comprehensive Loss (Tables)
3 Months Ended
Mar. 31, 2015
Equity [Abstract]  
Net Change and Ending Balances for Various Components of Accumulated Other Comprehensive Loss

Net change and ending balances for the various components of accumulated other comprehensive loss as of and for the three months ended March 31, 2015 and 2014 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, 2015

   $ (4,426   $ (65,396   $ 984       $ 85      $ (68,753

Net Change

     (3,741     7,327        4         30        3,620   
  

 

 

   

 

 

   

 

 

    

 

 

   

 

 

 

Balance at March 31, 2015

$ (8,167 $ (58,069 $ 988    $ 115    $ (65,133
  

 

 

   

 

 

   

 

 

    

 

 

   

 

 

 

Balance at January 1, 2014

$ 277    $ (47,462 $ 1,007    $ 313    $ (45,865

Net Change

  548      831      31      (190   1,220   
  

 

 

   

 

 

   

 

 

    

 

 

   

 

 

 

Balance at March 31, 2014

$ 825    $ (46,631 $ 1,038    $ 123    $ (44,645
  

 

 

   

 

 

   

 

 

    

 

 

   

 

 

 

Line Items Affected on Condensed Consolidated Statements of Operations for Components Reclassified from Accumulated Other Comprehensive Loss

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 net income.

 

     Three Months Ended 
March 31,
 
     2015      2014  

Amortization of unrecognized employee benefit costs:

     

Costs of products sold (excluding depreciation)

   $ 1,281       $ 1,013   

Selling and administrative

     1,595         399   

Other income (expense)

     42         57   
  

 

 

    

 

 

 

Total before income tax

  2,918      1,469   

Income tax provision

  (1,044   (512
  

 

 

    

 

 

 

Net of tax

$ 1,874    $ 957   
  

 

 

    

 

 

 

Realized gains on sale of marketable securities:

Selling and administrative

$ 0    $ (28

Income tax provision

  0      10   
  

 

 

    

 

 

 

Net of tax

$ 0    $ (18
  

 

 

    

 

 

 

Realized (gains) losses from settlement of cash flow hedges:

Depreciation (foreign currency purchase contracts)

$ (7 $ (7

Costs of products sold (excluding depreciation) (futures contracts – copper and aluminum)

  194      36   
  

 

 

    

 

 

 

Total before income tax

  187      29   

Income tax provision

  (72   (11
  

 

 

    

 

 

 

Net of tax

$ 115    $ 18   
  

 

 

    

 

 

 

Summary of Income Tax Expense (Benefit) Associated with Various Components of Other Comprehensive Income

The income tax expense (benefit) associated with the various components of other comprehensive income for the three months ended March 31, 2015 and 2014 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 March 31,  
     2015      2014  

Tax expense (benefit) associated with changes in:

     

Unrealized employee benefit costs

   $ (2,429    $ 0   

Unrealized holding gains on marketable securities

     (2      (26

Fair value of cash flow hedges

     50         128   

Tax expense (benefit) associated with reclassification adjustments:

     

Amortization of unrecognized employee benefit costs

     (1,044      (512

Realized gains from sale of marketable securities

     0         10   

Realized gains/losses from settlement of cash flow hedges

     (72      (11