Comprehensive Income and Accumulated Other Comprehensive Income (Loss)

9 Months Ended

Sep. 28, 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					Nine Months Ended
	September 28, 2014			September 29, 2013		September 28, 2014			September 29, 2013
	(in thousands)
Net income	$	33,847		$	29,068	$	58,456		$	80,805
Foreign currency translation income (loss), net of $0.3 million, $0.0 million, $0.5 million, and $0.0 million tax, respectively		(4,175	)		4,536		(3,914	)		(10,733	)
Adjustment to pension and postretirement liability, net of $0.7 million, $0.7 million, $2.1 million, and $2.2 million tax, respectively		1,111			1,172		3,416			3,546
Total comprehensive income	$	30,783		$	34,776	$	57,958		$	73,618

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 loss before reclassifications		(3,914	)		-			(3,914	)
Amounts reclassified from accumulated other comprehensive income (loss)		-			3,416			3,416
Net current period other comprehensive income (loss)		(3,914	)		3,416			(498	)
Balance at September 28, 2014	$	3,882		$	(33,561	)	$	(29,679	)

The following table summarizes the effects of reclassifications from accumulated other comprehensive income (loss) for the nine months ended September 28, 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	$	5,589		(1)
Prior service credit		(34	)	(1)
Total before tax		5,555
Tax benefit		(2,139	)
Net of tax	$	3,416

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