ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME

12 Months Ended

Dec. 31, 2011

ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME

NOTE 4. ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME

Accumulated other comprehensive (loss) income is reported in our Consolidated Statements of Stockholders’ Equity. Amounts included in accumulated other comprehensive (loss) income, net of tax, at December 31 are as follows:

	2011			2010
	(Dollars in thousands)
Foreign currency translation	$	(9,251	)	$	17,276
Change in fair value of derivatives		(6,822	)		(6,695	)
Unrecognized net periodic pension and other postretirement benefit costs:
Net prior service credit		6,920			6,391
Net actuarial loss		(106,129	)		(79,998	)
Accumulated other comprehensive loss	$	(115,282	)	$	(63,026	)

The amounts reclassified to earnings from the change in fair value of derivatives component of accumulated other comprehensive loss for the years ended December 31, 2011, 2010 and 2009 were net losses of $3.1 million, $5.1 million and $6.2 million, respectively.

We estimate that we will reclassify $2.6 million of losses, net of income taxes, of the change in fair value of derivatives component of accumulated other comprehensive (loss) income to earnings during the next twelve months. The actual amount that will be reclassified to earnings will vary from this amount as a result of changes in market conditions. See Note 9 which includes a discussion of derivative instruments and hedging activities.

Amounts expected to be recognized as components of net periodic benefit costs in our Consolidated Statement of Income for the year ended December 31, 2012 are $7.8 million and $(0.4) million, net of income taxes, for the net actuarial loss and net prior service credit, respectively, related to our pension and other postretirement benefit plans. See Note 11 for further discussion.