Comprehensive Income and Accumulated Other Comprehensive Income (Loss)

6 Months Ended

Jun. 29, 2014

Equity [Abstract]

Comprehensive Income and Accumulated Other Comprehensive Income (Loss)

Note 11:  Comprehensive Income and Accumulated Other Comprehensive Income (Loss)

The following table summarizes total comprehensive income:

	Three Months Ended				Six Months Ended
	June 29, 2014		June 30, 2013		June 29, 2014		June 30, 2013
	(In thousands)
Net income	$	15	$	29,492	$	24,609	$	51,737
Foreign currency translation income (loss), net of $1.5 million, $0.0 million, $0.2 million, and $0.0 million tax, respectively		12,734		(6,743)		261		(15,269)
Adjustments to pension and postretirement liability, net of $0.7 million, $0.8 million, $1.4 million, and $1.5 million tax, respectively		1,145		1,201		2,305		2,374
Total comprehensive income	$	13,894	$	23,950	$	27,175	$	38,842

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, 2013	$	7,796	$	(36,977)	$	(29,181)
Other comprehensive income before reclassifications		261		-		261
Amounts reclassified from accumulated other comprehensive income (loss)		-		2,305		2,305
Net current period other comprehensive income		261		2,305		2,566
Balance at June 29, 2014	$	8,057	$	(34,672)	$	(26,615)

The following table summarizes the effects of reclassifications from accumulated other comprehensive income (loss) for the six months ended June 29, 2014:

	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	$	3,799	(1)
Prior service credit		(52)	(1)
Total before tax		3,747
Tax benefit		(1,442)
Net of tax	$	2,305

(1) The amortization of these accumulated other comprehensive income (loss) components are included in the computation of net periodic benefit costs (see Note 10).