Comprehensive Income and Accumulated Other Comprehensive Income (Loss)

6 Months Ended

Jun. 30, 2013

Comprehensive Income and Accumulated Other Comprehensive Income (Loss)

Note 12: Comprehensive Income and Accumulated Other Comprehensive Income (Loss)

The following table summarizes total comprehensive income:

	Three Months Ended						Six Months Ended
	June 30, 2013			July 1, 2012			June 30, 2013			July 1, 2012
	(In thousands)
Net income	$	29,492		$	42,390		$	51,737		$	66,665
Foreign currency translation loss		(6,743	)		(29,698	)		(15,269	)		(19,072	)
Foreign currency hedging instruments, net of $0.0 million, $1.1 million, $0.0 million, and $1.1 million tax, respectively		—			1,460			—			1,460
Amortization of pension and other postretirement benefit plan losses,net of $0.8 million, $0.0 million, $1.5 million, and $0.0 million tax, respectively		1,201			—			2,374			—
Total comprehensive income	$	23,950		$	14,152		$	38,842		$	49,053

The accumulated balances related to each component of other comprehensive income (loss), net of tax, are as follows:

	Foreign Currency Translation Component			Pension and Other Postretirement Benefit Plans			Accumulated Other Comprehensive Income (Loss)
				(In thousands)
Balance at December 31, 2012	$	28,516		$	(59,081	)	$	(30,565	)
Other comprehensive loss before reclassifications		(15,269	)		—			(15,269	)
Amounts reclassified from accumulated other comprehensive income (loss)		—			2,374			2,374
Net current period other comprehensive income (loss)		(15,269	)		2,374			(12,895	)
Balance at June 30, 2013	$	13,247		$	(56,707	)	$	(43,460	)

The following table summarizes the effects of reclassifications from accumulated other comprehensive income (loss) for the six months ended June 30, 2013:

	Amount Reclassified from Accumulated Other Comprehensive Income (Loss)			Affected Line Item in the Consolidated Statements of Operations and Comprehensive Income
	(In thousands)
Amortization of pension and other postretirement benefit plan items:
Actuarial losses	$	3,931		(1)
Amortization of prior service credit		(71	)	(1)
Total before tax		3,860
Tax benefit		(1,486	)
Net of tax	$	2,374

(1) The amortization of these accumulated other comprehensive income (loss) components are included in the computation of net periodic benefit costs (see Note 11).