Comprehensive Income (Loss) and Accumulated Other Comprehensive Income

9 Months Ended

Dec. 31, 2012

Comprehensive Income (Loss) and Accumulated Other Comprehensive Income

Comprehensive Income (Loss) and Accumulated Other Comprehensive Income

Note 6. Comprehensive Income (Loss) and Accumulated Other Comprehensive Income

Comprehensive income (loss) for the quarters and nine months ended December 31, 2012 and 2011 includes the following components (amounts in thousands):

	Quarters Ended December 31,						Nine Months Ended December 31,
	2012			2011			2012			2011
Net income (loss)	$	(14,257	)	$	(27,771	)	$	(56,931	)	$	18,396
Currency translation gain (loss)(1)	3,456			(5,854		)	(603		)	(14,341		)
Amortization of defined benefit pension plans	288			118			(854		)	334
Amortization of postretirement benefit plan	(82		)	(82		)	(243		)	(243		)
	$	(10,595	)	$	(33,589	)	$	(58,631	)	$	4,146

(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 and nine months ended December 31, 2012 and 2011.

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

	December 31, 2012			March 31, 2012
Foreign currency translation gain	$	17,504		$	18,107
Defined benefit pension plans	(8,936		)	(8,082		)
Defined benefit postretirement plan adjustments	1,752			1,995
	$	10,320		$	12,020