Note 9 - Accumulated Other Comprehensive Income (Loss)

9 Months Ended

Sep. 30, 2016

Notes to Financial Statements

Comprehensive Income (Loss) Note [Text Block]

(9) 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, 2016 and 2015:

	Foreign Currency Translation Adjustments			Pension Plans			Total
Balance as of June 30, 2016	$	(25,168	)	$	(29,165	)	$	(54,333	)
Other comprehensive income before reclassifications		235			-			235
Amounts reclassified from accumulated other comprehensive loss		-			202			202
Net current-period other comprehensive income		235			202			437
Balance as of September 30, 2016	$	(24,933	)	$	(28,963	)	$	(53,896	)

	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	)

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

	Foreign Currency Translation Adjustments			Pension Plans			Total
Balance as of December 31, 2015	$	(25,880	)	$	(29,569	)	$	(55,449	)
Other comprehensive income before reclassifications		947			-			947
Amounts reclassified from accumulated other comprehensive loss		-			606			606
Net current-period other comprehensive income		947			606			1,553
Balance as of September 30, 2016	$	(24,933	)	$	(28,963	)	$	(53,896	)

	Foreign C urrency 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	)

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

Details about AOCI Components	Three months ended September 30, 2016			Nine months ended September 30, 2016
Amortization of defined benefit pension items:
Actuarial losses	$	(288	)	$	(867	)
Prior service costs		(14	)		(39	)
Total before tax		(302	)		(906	)
Tax benefit		100			300
Net of tax	$	(202	)	$	(606	)
Total reclassification for the period	$	(202	)	$	(606	)

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	)

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.”