Note 8 - Accumulated Other Comprehensive Income/(Loss)

9 Months Ended

Sep. 30, 2015

Notes to Financial Statements

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 September 30, 2015 and 2014:

	Foreign Currency Translation Adjustments			Interest Rate Swap			Pension Plans			Total
Balance as of June 30, 2015	$	(23,015	)	$	(70	)	$	(32,917	)	$	(56,002	)
Other comprehensive loss before reclassifications		(1,127	)		-			-			(1,127	)
Amounts reclassified from accumulated other comprehensive loss		-			70			230			300
Net current-period other comprehensive (loss)/income		(1,127	)		70			230			(827	)
Balance as of September 30, 2015	$	(24,142	)	$	-		$	(32,687	)	$	(56,829	)

	Foreign Currency Translation Adjustments			Interest Rate Swap			Pension Plans			Total
Balance as of June 30, 2014	$	10,552		$	(330	)	$	(28,266	)	$	(18,044	)
Other comprehensive loss before reclassifications		(15,172	)		(3	)		-			(15,175	)
Amounts reclassified from accumulated other comprehensive loss		-			77			143			220
Net current-period other comprehensive (loss)/income		(15,172	)		74			143			(14,955	)
Balance as of September 30, 2014	$	(4,620	)	$	(256	)	$	(28,123	)	$	(32,999	)

The following tables provide the changes in AOCI by component, net of tax, for the nine months ended September 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		(12,732	)		(23	)		-			(12,755	)
Amounts reclassified from accumulated other comprehensive loss		-			216			691			907
Net current-period other comprehensive (loss)/income		(12,732	)		193			691			(11,848	)
Balance as of September 30, 2015	$	(24,142	)	$	-		$	(32,687	)	$	(56,829	)

	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		(19,010	)		(86	)		-			(19,096	)
Amounts reclassified from accumulated other comprehensive loss		4,400			226			433			5,059
Net current-period other comprehensive (loss)/income		(14,610	)		140			433			(14,037	)
Balance as of September 30, 2014	$	(4,620	)	$	(256	)	$	(28,123	)	$	(32,999	)

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

Details about AOCI Components	Three months ended September 30, 2015			Nine months ended September 30, 2015
Losses on cash flow hedge:
Interest rate swap	$	(108	)	$	(333	)
Tax benefit		38			117
Net of tax	$	(70	)	$	(216	)
Amortization of defined benefit pension items:
Actuarial losses	$	(325	)	$	(976	)
Prior service costs		(13	)		(39	)
Total before tax		(338	)		(1,015	)
Tax benefit		108			324
Net of tax	$	(230	)	$	(691	)
Total reclassification for the period	$	(300	)	$	(907	)

Details about AOCI Components	Three months ended September 30, 2014			Nine months ended September 30, 2014
Losses on cash flow hedge:
Interest rate swap	$	(118	)	$	(348	)
Tax benefit		41			122
Net of tax	$	(77	)	$	(226	)
Amortization of defined benefit pension items:
Actuarial losses	$	(200	)	$	(605	)
Prior service costs		(13	)		(38	)
Total before tax		(213	)		(643	)
Tax benefit		70			210
Net of tax	$	(143	)	$	(433	)
Foreign currency translation adjustment:
Release of currency translation adjustment	$	-		$	(4,400	)
Net of tax	$	-		$	(4,400	)
Total reclassification for the period	$	(220	)	$	(5,059	)

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.