Note 12 - Accumulated Other Comprehensive (Loss)/Income

6 Months Ended

Jun. 30, 2019

Accumulated Other Comprehensive Income Loss Net Of Tax [Abstract]

Accumulated Other Comprehensive (Loss)/Income

(12) Accumulated Other Comprehensive (Loss)/Income

The following tables provide the changes in Accumulated other comprehensive (loss)/income (“AOCI”) by component, net of tax for the three and six months ended June 30, 2019 and 2018:

	Foreign Currency Translation Adjustments			Interest Rate Swap			Pension Plans			Total
Balance as of March 31, 2019	$	(32,514	)	$	(1,996	)	$	(32,160	)	$	(66,670	)
Other comprehensive income/(loss) before reclassifications		2,432			(2,729	)		-			(297	)
Amounts reclassified from accumulated other comprehensive loss		-			30			239			269
Net current-period other comprehensive income/(loss)		2,432			(2,699	)		239			(28	)
Balance as of June 30, 2019	$	(30,082	)	$	(4,695	)	$	(31,921	)	$	(66,698	)
	Foreign Currency Translation Adjustments			Interest Rate Swap			Pension Plans			Total
Balance as of March 31, 2018	$	(9,111	)	$	-		$	(29,893	)	$	(39,004	)
Other comprehensive loss before reclassifications		(13,465	)		-			-			(13,465	)
Amounts reclassified from accumulated other comprehensive loss		-			-			206			206
Net current-period other comprehensive (loss)/income		(13,465	)		-			206			(13,259	)
Balance as of June 30, 2018	$	(22,576	)	$	-		$	(29,687	)	$	(52,263	)

	Foreign Currency Translation Adjustments			Interest Rate Swap			Pension Plans			Total
Balance as of December 31, 2018	$	(27,736	)	$	-		$	(32,401	)	$	(60,137	)
Other comprehensive loss before reclassifications		(2,346	)		(4,731	)		-			(7,077	)
Amounts reclassified from accumulated other comprehensive loss		-			36			480			516
Net current-period other comprehensive (loss)/income		(2,346	)		(4,695	)		480			(6,561	)
Balance as of June 30, 2019	$	(30,082	)	$	(4,695	)	$	(31,921	)	$	(66,698	)
	Foreign Currency Translation Adjustments			Interest Rate Swap			Pension Plans			Total
Balance as of December 31, 2017	$	(12,040	)	$	-		$	(30,188	)	$	(42,228	)
Other comprehensive loss before reclassifications		(10,536	)		-			-			(10,536	)
Amounts reclassified from accumulated other comprehensive loss		-			-			501			501
Net current-period other comprehensive (loss)/income		(10,536	)		-			501			(10,035	)
Balance as of June 30, 2018	$	(22,576	)	$	-		$	(29,687	)	$	(52,263	)

The following table provides the reclassifications from AOCI by component for the three and six months ended June 30, 2019 and 2018:

Details about AOCI Components	Three Months Ended June 30, 2019			Six Months Ended June 30, 2019
Losses on cash flow hedge:
Interest rate swap	$	(30	)	$	(36	)
Tax benefit		-			-
Net of tax		(30	)		(36	)
Pension plan amortization of actuarial losses		(321	)		(644	)
Tax benefit		82			164
Net of tax		(239	)		(480	)
Total reclassification for the period	$	(269	)	$	(516	)

Details about AOCI Components	Three Months Ended June 30, 2018			Six Months Ended June 30, 2018
Amortization of defined benefit pension items:
Actuarial losses	$	(276	)	$	(680	)
Prior service credit		1			2
Total before tax		(275	)		(678	)
Tax benefit		69			177
Total reclassification for the period, net of tax	$	(206	)	$	(501	)

The Company recognizes all components of net periodic benefit cost except service costs in “Other expenses, net” in its income statement. Service costs are recognized in “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. Interest rate swaps are recorded as “Interest expense, net” on the Company’s income statement.