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STOCKHOLDERS' EQUITY (Tables)
3 Months Ended
Mar. 31, 2015
STOCKHOLDERS' EQUITY  
Components of accumulated other comprehensive loss

 

 

 

 

March 31

 

December 31

 

 

 

2015

 

2014

 

 

 

(in thousands)

 

Pre-tax amounts:

 

 

 

 

 

Unrecognized net periodic benefit costs

 

$

(30,991

)

$

(30,140

)

Interest rate swap

 

(1,175

)

(576

)

Foreign currency translation

 

(1,698

)

(1,216

)

Total

 

$

(33,864

)

$

(31,932

)

 

 

 

 

 

 

After-tax amounts:

 

 

 

 

 

Unrecognized net periodic benefit costs

 

$

(22,907

)

$

(22,387

)

Interest rate swap

 

(714

)

(350

)

Foreign currency translation

 

(1,037

)

(742

)

Total

 

$

(24,658

)

$

(23,479

)

 

 

Summary of changes in accumulated other comprehensive loss, net of tax, by component

 

 

 

 

 

 

Unrecognized

 

Interest

 

Foreign

 

 

 

 

 

Net Periodic

 

Rate

 

Currency

 

 

 

Total

 

Benefit Costs

 

Swap

 

Translation

 

 

 

(in thousands)

 

Balances at December 31, 2014

 

$

(23,479

)

$

(22,387

)

$

(350

)

$

(742

)

Other comprehensive loss before reclassifications

 

(2,490

)

(1,831

)

(364

)

(295

)

Amounts reclassified from accumulated other comprehensive loss

 

1,311

 

1,311

 

 

 

Net current-period other comprehensive loss

 

(1,179

)

(520

)

(364

)

(295

)

 

 

 

 

 

 

 

 

 

 

Balances at March 31, 2015

 

$

(24,658

)

$

(22,907

)

$

(714

)

$

(1,037

)

 

 

 

 

 

 

 

 

 

 

Balances at December 31, 2013

 

$

(14,912

)

$

(14,386

)

$

 

$

(526

)

 

 

 

 

 

 

 

 

 

 

Other comprehensive loss before reclassifications

 

(5,333

)

(5,296

)

 

(37

)

Amounts reclassified from accumulated other comprehensive loss

 

2,579

 

2,579

 

 

 

Net current-period other comprehensive loss

 

(2,754

)

(2,717

)

 

(37

)

 

 

 

 

 

 

 

 

 

 

Balances at March 31, 2014

 

$

(17,666

)

$

(17,103

)

$

 

$

(563

)

 

 

Summary of the significant reclassifications out of accumulated other comprehensive loss by component

 

 

 

 

Three Months Ended March 31

 

 

 

2015

 

2014

 

 

 

(in thousands)

 

Unrecognized Net Periodic Benefit Costs(1) (2)

 

 

 

 

 

 

 

 

 

 

 

Amortization of net actuarial loss

 

$

(1,074

)

$

(577

)

Amortization of prior service credit

 

47

 

47

 

Pension settlement expense

 

(1,119

)

(3,691

)

Total, pre-tax

 

(2,146

)

(4,221

)

Tax benefit

 

835

 

1,642

 

Total, net of tax

 

$

(1,311

)

$

(2,579

)

 

(1)

Amounts in parentheses indicate increases in expense or loss.

(2)

These components of accumulated other comprehensive loss are included in the computation of net periodic pension cost (see Note F).

 

 

Summary of dividends declared

 

 

 

 

2015

 

2014

 

 

 

Per Share

 

Amount

 

Per Share

 

Amount

 

 

 

(in thousands, except per share data)

 

First quarter

 

$

0.06 

 

$

1,584 

 

$

0.03 

 

$

819