Note 8 - Accumulated Other Comprehensive Income/(Loss)

6 Months Ended

Jun. 30, 2015

Disclosure Text Block [Abstract]

Comprehensive Income (Loss) Note [Text Block]

(8) Accumulated Other Comprehensive Income/(Loss)

The following tables provide the changes in AOCI by component, net of tax, for the three months ended June 30, 2015 and 2014:

	Foreign Currency Translation Adjustments			Interest Rate Swap			Pension Plans			Total
Balance as of March 31, 2015	$	(29,393	)	$	(139	)	$	(33,148	)	$	(62,680	)
Other comprehensive income/(loss) before reclassifications		6,378			(4	)		-			6,374
Amounts reclassified from accumulated other comprehensive income		-			73			231			304
Net current-period other comprehensive income		6,378			69			231			6,678
Balance as of June 30, 2015	$	(23,015	)	$	(70	)	$	(32,917	)	$	(56,002	)

	Foreign Currency Translation Adjustments			Interest Rate Swap			Pension Plans			Total
Balance as of March 31, 2014	$	9,667		$	(369	)	$	(28,411	)	$	(19,113	)
Other comprehensive loss before reclassifications		(3,515	)		(36	)		-			(3,551	)
Amounts reclassified from accumulated other comprehensive income		4,400			75			145			4,620
Net current-period other comprehensive income		885			39			145			1,069
Balance as of June 30, 2014	$	10,552		$	(330	)	$	(28,266	)	$	(18,044	)

The following tables provide the changes in AOCI by component, net of tax, for the six months ended June 30, 2015 and 2014:

	Foreign Currency Translation Adjustments			Interest Rate Swap			Pension Plans			Total
Balance as of December 31, 2014	$	(11,410	)	$	(193	)	$	(33,378	)	$	(44,981	)
Other comprehensive loss before reclassifications		(11,605	)		(23	)		-			(11,628	)
Amounts reclassified from accumulated other comprehensive income		-			146			461			607
Net current-period other comprehensive (loss)/income		(11,605	)		123			461			(11,021	)
Balance as of June 30, 2015	$	(23,015	)	$	(70	)	$	(32,917	)	$	(56,002	)

	Foreign Currency Translation Adjustments			Interest Rate Swap			Pension Plans			Total
Balance as of December 31, 2013	$	9,990		$	(396	)	$	(28,556	)	$	(18,962	)
Other comprehensive loss before reclassifications		(3,838	)		(83	)		-			(3,921	)
Amounts reclassified from accumulated other comprehensive income		4,400			149			290			4,839
Net current-period other comprehensive income		562			66			290			918
Balance as of June 30, 2014	$	10,552		$	(330	)	$	(28,266	)	$	(18,044	)

The following tables provide the reclassifications out of AOCI by component for the three and six months ended June 30, 2015 and 2014:

Details about AOCI Components	Three months ended June 30, 2015			Six months ended June 30, 2015
Losses on cash flow hedge:
Interest rate swap	$	(112	)	$	(225	)
Tax benefit		39			79
Net of tax	$	(73	)	$	(146	)
Amortization of defined benefit pension items:
Actuarial losses	$	(326	)	$	(651	)
Prior service costs		(13	)		(26	)
Total before tax		(339	)		(677	)
Tax benefit		108			216
Net of tax	$	(231	)	$	(461	)
Total reclassification for the period	$	(304	)	$	(607	)

Details about AOCI Components	Three months ended June 30, 2014			Six months ended June 30, 2014
Losses on cash flow hedge:
Interest rate swap	$	(116	)	$	(230	)
Tax benefit		41			81
Net of tax	$	(75	)	$	(149	)
Amortization of defined benefit pension items:
Actuarial losses	$	(202	)	$	(405	)
Prior service costs		(13	)		(25	)
Total before tax		(215	)		(430	)
Tax benefit		70			140
Net of tax	$	(145	)	$	(290	)
Foreign currency translation adjustment:
Release of currency translation adjustment	$	(4,400	)	$	(4,400	)
Tax benefit		-			-
Net of tax	$	(4,400	)	$	(4,400	)
Total reclassification for the period	$	(4,620	)	$	(4,839	)

The Company recognizes net periodic pension cost, which includes amortization of actuarial losses and gains, and prior service costs in both selling, general and administrative expenses and cost of goods sold in its income statement depending on the functional area of the underlying employees included in the plan. The interest rate swap is reflected in the Company’s income statement as interest expense.