| Comprehensive Income |
Comprehensive Income
Comprehensive income consists of the following: | | | | | | | | | | | | | | | | | | Three Months Ended September 30, | | Nine Months Ended September 30, | | 2017 | | 2016 | | 2017 | | 2016 | Net income | $ | 7,197 |
| | $ | 7,337 |
| | $ | 8,791 |
| | $ | 7,956 |
| | | | | | | | | Other comprehensive income: | | | | | | | | Pension liability, net of income tax (income tax expense of $294 and $257 for the three months ended September 30, 2017 and 2016, respectively, and $880 and $771 for the nine months ended September 30, 2017 and 2016, respectively) | 500 |
| | 438 |
| | 1,501 |
| | 1,314 |
| Cash flow hedging loss net of income tax (income tax benefit of ($790) and ($483) for the three months ended September 30, 2017 and 2016, respectively, and ($2,312) and ($1,116) for the nine months ended September 30, 2017 and 2016, respectively) | (1,348 | ) | | (824 | ) | | (3,946 | ) | | (1,904 | ) | Foreign currency translation adjustment | 4,097 |
| | 950 |
| | 13,320 |
| | 2,667 |
| | | | | | | | | Comprehensive income | $ | 10,446 |
| | $ | 7,901 |
| | $ | 19,666 |
| | $ | 10,033 |
|
Accumulated other comprehensive loss consists of the following:
| | | | | | | | | | | | | | | | | | Cash Flow Hedging Gain (Loss) | | Pension Liability | | Cumulative Translation Adjustments | | Accumulated Other Comprehensive Income (Loss) | Balance, December 31, 2016 | $ | 1,546 |
| | $ | (26,458 | ) | | $ | (33,614 | ) | | $ | (58,526 | ) | | | | | | | | | Other comprehensive income (loss) before reclassifications, net of tax | (3,939 | ) | | — |
| | 13,320 |
| | 9,381 |
| Amounts reclassified from accumulated other comprehensive income (loss) before taxa | (11 | ) | | 2,381 |
| | — |
| | 2,370 |
| Income tax | 4 |
| | (880 | ) | | — |
| | (876 | ) | | | | | | | | | Net current-period other comprehensive income (loss) | (3,946 | ) | | 1,501 |
| | 13,320 |
| | 10,875 |
| | | | | | | | | Balance, September 30, 2017 | $ | (2,400 | ) | | $ | (24,957 | ) | | $ | (20,294 | ) | | $ | (47,651 | ) |
| | | | | | | | | | | | | | | | | | Cash Flow Hedging Gain (Loss) | | Pension Liability | | Cumulative Translation Adjustments | | Accumulated Other Comprehensive Income (Loss) | Balance, December 31, 2015 | $ | 1,201 |
| | $ | (25,982 | ) | | $ | (29,113 | ) | | $ | (53,894 | ) | | | | | | | | | Other comprehensive income (loss) before reclassifications, net of tax | (1,598 | ) | | — |
| | 2,667 |
| | 1,069 |
| Amounts reclassified from accumulated other comprehensive income (loss) before taxa | (485 | ) | | 2,085 |
| | — |
| | 1,600 |
| Income tax | 179 |
| | (771 | ) | | — |
| | (592 | ) | | | | | | | | | Net current-period other comprehensive income (loss) | (1,904 | ) | | 1,314 |
| | 2,667 |
| | 2,077 |
| | | | | | | | | Balance, September 30, 2016 | $ | (703 | ) | | $ | (24,668 | ) | | $ | (26,446 | ) | | $ | (51,817 | ) |
(a) The cash flow hedging gain (loss) and pension liability accumulated other comprehensive income (loss) components are included in sales or cost of sales and as a component of net periodic pension cost, respectively. The amounts recorded in the charts above are for the nine months ended September 30, 2017 and 2016. For the three months ended September 30, 2017, $0.5 million of the cash flow hedging loss and $0.8 million of the pension liability were reclassified from accumulated other comprehensive loss to the statement of income. For the three months ended September 30, 2016, $0.0 million of the cash flow hedging gain and $0.7 million of the pension liability were reclassified from accumulated other comprehensive loss to the statement of income. Refer to Note 5 and Note 10, respectively, for further details. |