Note 9 - Accumulated Other Comprehensive Loss

3 Months Ended

Mar. 31, 2016

Notes to Financial Statements

Comprehensive Income (Loss) Note [Text Block]

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9

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Accumulated Other Comprehensive Inco

me

/(Loss)

The following tables provide the changes in AOCI by component, net of tax, for the three months ended March 31, 2016 and 2015:

	Foreign Currency Translation Adjustments			Interest Rate Swap		Pension Plans			Total
Balance as of December 31, 2015	$	(25,880	)	$	-	$	(29,569	)	$	(55,449	)
Other comprehensive income before reclassifications		7,095			-		-			7,095
Amounts reclassified from accumulated other comprehensive loss		-			-		202			202
Net current-period other comprehensive income		7,095			-		202			7,297
Balance as of March 31, 2016	$	(18,785	)	$	-	$	(29,367	)	$	(48,152	)

	Foreign Currency T ranslation 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		(17,983	)		(19	)		-			(18,002	)
Amounts reclassified from accumulated other comprehensive loss		-			73			230			303
Net current-period other comprehensive (loss)/income		(17,983	)		54			230			(17,699	)
Balance as of March 31, 2015	$	(29,393	)	$	(139	)	$	(33,148	)	$	(62,680	)

The following table provides the reclassifications from AOCI by component for the three months ended March 31, 2016 and 2015:

Details about AOCI Components	Three months ended March 31, 2016			Three months ended March 31, 2015
Losses on cash flow hedge:
Interest rate swap	$	-		$	(113	)
Tax benefit		-			40
Net of tax	$	-		$	(73	)
Amortization of defined benefit pension items:
Actuarial losses	$	(289	)	$	(325	)
Prior service costs		(13	)		(13	)
Total before tax		(302	)		(338	)
Tax benefit		100			108
Net of tax	$	(202	)	$	(230	)
Total reclassification for the period	$	(202	)	$	(303	)

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.