Comprehensive Income

6 Months Ended

Jun. 30, 2011

6. Comprehensive Income

Comprehensive income is defined as the change in equity of an enterprise during a period from transactions and other events and circumstances from non-owner sources and, accordingly, includes both net income and amounts referred to as other comprehensive income. The items of other comprehensive income are included in the Consolidated Statements of Shareholders' Equity and Comprehensive Loss. The accumulated other comprehensive loss is included in the shareholders' equity section of the Consolidated Balance Sheet. The Company's components of accumulated other comprehensive loss at June 30, 2011 include unrealized gains/(losses) on investment securities classified as available-for-sale and changes in the value of the pension and post-retirement liability.

For the six months ended June 30, 2011 and 2010, total comprehensive loss was $(89.9) million and $(24.6) million, respectively. The deferred income tax (liability)/benefit related to the components of other comprehensive loss amounted to $1.8 million and $2.5 million, respectively, for the same periods as previously mentioned.

The accumulated balances related to each component of accumulated other comprehensive income/(loss) are as follows:


	June 30, 2011						December 31, 2010
(dollars in thousands)	Pretax			After-tax			Pretax			After-tax
Net unrealized securities (losses)/gains	$	3,737		$	2,262		$	(862	)	$	(526	)
Pension, other postretirement and postemployment benefit plan adjustments		(5,187	)		(3,165	)		(5,187	)		(3,165	)

Accumulated other comprehensive loss	$	(1,450	)	$	(903	)	$	(6,049	)	$	(3,691	)

- Definition

This label may include the following: 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income. Components of comprehensive income include: (1) foreign currency translation adjustments; (2) gains and losses on foreign currency transactions that are designated as, and are effective as, economic hedges of a net investment in a foreign entity; (3) gains and losses on intercompany foreign currency transactions that are of a long-term-investment nature, when the entities to the transaction are consolidated, combined, or accounted for by the equity method in the reporting enterprise's financial statements; (4) change in the market value of a futures contract that qualifies as a hedge of an asset reported at fair value; (5) unrealized holding gains and losses on available-for-sale securities and that resulting from transfers of debt securities from the held-to-maturity category to the available-for-sale category; (6) a net loss recognized as an additional pension liability not yet recognized as net periodic pension cost; and (7) the net gain or loss and net prior service cost or credit for pension plans and other postretirement benefit plans.

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