Note 16 - Accumulated Other Comprehensive Loss

12 Months Ended

Dec. 31, 2016

Notes to Financial Statements

Comprehensive Income (Loss) Note [Text Block]

(16) Accumulated Other Comprehensive Loss

The following tables provide the changes in AOCI by component, net of tax, for the years ended

December

31,

2016

and

2015:

	Foreign Currency Translation Adjustments			Pension Plans			Total
Balance as of December 31, 2015	$	(25,880	)	$	(29,569	)	$	(55,449	)
Other comprehensive loss before reclassifications		(8,481	)		(2,468	)		(10,949	)
Amounts reclassified from accumulated other comprehensive loss		71			807			878
Net current-period other comprehensive loss		(8,410	)		(1,661	)		(10,071	)
Balance as of December 31, 2016	$	(34,290	)	$	(31,230	)	$	(65,520	)

	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)/income before reclassifications		(16,424	)		(23	)		2,893			(13,554	)
Amounts reclassified from accumulated other comprehensive loss		1,954			216			916			3,086
Net current-period other comprehensive (loss)/income		(14,470	)		193			3,809			(10,468	)
Balance as of December 31, 2015	$	(25,880	)	$	-		$	(29,569	)	$	(55,449	)

The following tables provide the reclassifications out of AOCI by component for the years ended

December

31,

2016

and

2015:

Details about AOCI Components	Amount Reclassified from AOCI for the year ended December 31, 2016			Amount Reclassified from AOCI for the year ended December 31, 2015
Amortization of defined benefit pension items:
Actuarial losses	$	(1,152	)	$	(1,295	)
Prior service costs		(52	)		(52	)
Total before tax		(1,204	)		(1,347	)
Tax benefit		397			431
Net of tax	$	(807	)	$	(916	)
Foreign currency translation adjustment:
Release of currency translation adjustment	$	(71	)	$	(1,954	)
Net of tax	$	(71	)	$	(1,954	)
Losses on cash flow hedge:
Interest rate swap	$	-		$	(333	)
Tax benefit		-			117
Net of tax	$	-		$	(216	)
Total reclassification for the period	$	(878	)	$	(3,086	)

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 release of currency translation adjustments generated from Zenara’s balance sheet are reflected in the Company’s income statement as restructuring expenses. The interest rate swap is reflected in the Company’s income statement as interest expense.