Comprehensive Income (Loss) and Accumulated Other Comprehensive Income (Loss)

3 Months Ended

Jun. 30, 2012

Comprehensive Income (Loss) and Accumulated Other Comprehensive Income (Loss)

Comprehensive Income (Loss) and Accumulated Other Comprehensive Income (Loss)

Note 4. Comprehensive Income (Loss) and Accumulated Other Comprehensive Income (Loss)

Comprehensive income (loss) for the quarters ended June 30, 2012 and 2011 includes the following components (amounts in thousands):

	Quarter Ended June 30,
	2012			2011
Net income (loss)	$	(17,753	)	$	31,849
Currency translation gain (loss)(1)	(7,966		)	3,105
Amortization of defined benefit pension plans	102			115
Amortization of postretirement benefit plan	71			(71		)
	$	(25,546	)	$	34,998

(1) Due primarily to the Company’s permanent re-investment assertion relating to foreign earnings, there was no significant deferred tax effect associated with the cumulative currency translation gains and losses during the quarters ended June 30, 2012 and 2011.

The components of “Accumulated other comprehensive income” on the Condensed Consolidated Balance Sheets are as follows (amounts in thousands):

	June 30, 2012			March 31, 2012
Foreign currency translation gain	$	10,141		$	18,107
Defined benefit postretirement plan adjustments	2,066			1,995
Defined benefit pension plans	(7,980		)	(8,082		)
	$	4,227		$	12,020