Accumulated Other Comprehensive Loss (Tables)

9 Months Ended

Sep. 30, 2016

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 nine months ended September 30, 2016 and 2015 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, 2016	$	(8,393	)	$	(49,943	)	$	692		$	45		$	(57,599	)
Net Change		(8,623	)		9,540			314			394			1,625
Balance at September 30, 2016	$	(17,016	)	$	(40,403	)	$	1,006		$	439		$	(55,974	)
Balance at January 1, 2015	$	(4,426	)	$	(65,396	)	$	984		$	85		$	(68,753	)
Net Change		(2,065	)		8,637			(357	)		(25	)		6,190
Balance at September 30, 2015	$	(6,491	)	$	(56,759	)	$	627		$	60		$	(62,563	)

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. There is no tax effect for the nine months ended September 30, 2016 because of the cumulative loss incurred by the Corporation for the three year period then ended (Note 14). The tax impact for the three months ended September 30, 2016 represents the reversal of the tax effects previously recognized for the six months ended June 30, 2016.

	Three Months Ended September 30,						Nine Months Ended September 30,
	2016			2015			2016			2015
Amortization of unrecognized employee benefit costs:
Costs of products sold (excluding depreciation and amortization)	$	28		$	847		$	1,689		$	2,626
Selling and administrative		179			506			109			2,899
Other (expense) income		451			91			647			261
Total before income tax		658			1,444			2,445			5,786
Income tax expense (benefit)		609			(511	)		0			(2,017	)
Net of tax	$	1,267		$	933		$	2,445		$	3,769
Realized gains from sale of marketable securities:
Selling and administrative	$	(33	)	$	(96	)	$	(70	)	$	(98	)
Income tax (benefit) expense		(13	)		33			0			34
Net of tax	$	(46	)	$	(63	)	$	(70	)	$	(64	)
Realized losses (gains) from settlement of cash flow hedges:
Net sales (foreign currency sales contracts)	$	0		$	(7	)	$	(10	)	$	(14	)
Depreciation (foreign currency purchase contracts)		(6	)		(7	)		(20	)		(20	)
Costs of products sold (excluding depreciation and amortization) (futures contracts – copper and aluminum)		7			153			298			523
Total before income tax		1			139			268			489
Income tax expense (benefit)		102			(54	)		0			(189	)
Net of tax	$	103		$	85		$	268		$	300

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 and nine months ended September 30, 2016 and 2015 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,
	2016			2015			2016		2015
Tax expense (benefit) associated with changes in:
Unrecognized employee benefit costs	$	(87	)	$	0		$	0	$	(2,429	)
Unrealized holding losses/gains on marketable securities		117			124			0		158
Fair value of cash flow hedges		35			108			0		201
Tax expense (benefit) associated with reclassification adjustments:
Amortization of unrecognized employee benefit costs		609			(511	)		0		(2,017	)
Realized gains from sale of marketable securities		(13	)		33			0		34
Realized losses/gains from settlement of cash flow hedges		102			(54	)		0		(189	)