Note 9 - Accumulated Other Comprehensive Income (Loss)

6 Months Ended

Jun. 30, 2016

Notes to Financial Statements

Comprehensive Income (Loss) Note [Text Block]

( 9 ) Accumulated Other Comprehensive Inco me /(Loss)

The following tables provide the changes in AOCI by component, net of tax, for the three months ended June 30, 2016 and 2015:

	Foreign Currency Translation Adjustments			Interest Rate Swap		Pension Plans			Total
Balance as of March 31, 2016	$	(18,785	)	$	-	$	(29,367	)	$	(48,152	)
Other comprehensive loss before reclassifications		(6,383	)		-		-			(6,383	)
Amounts reclassified from accumulated other comprehensive loss		-			-		202			202
Net current-period other comprehensive (loss)/income		(6,383	)		-		202			(6,181	)
Balance as of June 30, 2016	$	(25,168	)	$	-	$	(29,165	)	$	(54,333	)

	Foreign C urrency 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 loss		-			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	)

The following tables provide the changes in AOCI by component, net of tax, for the six months ended June 30, 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		712			-		-			712
Amounts reclassified from accumulated other comprehensive loss		-			-		404			404
Net current-period other comprehensive income		712			-		404			1,116
Balance as of June 30, 2016	$	(25,168	)	$	-	$	(29,165	)	$	(54,333	)

	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 loss		-			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	)

The following tables provide the reclassifications from AOCI by component for the three and six months ended June 30, 2016 and 2015:

Details about AOCI Components	Three months ended June 30, 2016			Six months ended June 30, 2016
Amortization of defined benefit pension items:
Actuarial losses	$	(290	)	$	(579	)
Prior service costs		(12	)		(25	)
Total before tax		(302	)		(604	)
Tax benefit		100			200
Net of tax	$	(202	)	$	(404	)
Total reclassification for the period	$	(202	)	$	(404	)

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	)

The Company recognizes net periodic benefit 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.”