| 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
(loss):
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Three Months
Ended |
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Nine Months
Ended |
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September 27, 2015 |
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September 28, 2014 |
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September 27, 2015 |
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September 28, 2014 |
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(In
thousands) |
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Net income
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$ |
14,569 |
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$ |
33,847 |
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$ |
16,524 |
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$ |
58,456 |
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Foreign currency translation loss, net of $2.1 million, $0.3
million, $0.0 million, and $0.5 million tax, respectively
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(25,249) |
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(4,175) |
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(15,056) |
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(3,914) |
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Adjustments to pension and postretirement liability, net of $0.5
million, $0.7 million, $1.6 million, and $2.1 million tax,
respectively
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|
877 |
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1,111 |
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2,568 |
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|
3,416 |
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Total comprehensive income (loss)
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$ |
(9,803) |
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$ |
30,783 |
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$ |
4,036 |
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$ |
57,958 |
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The accumulated balances related to each component of other
comprehensive income (loss), net of tax, are as follows:
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Foreign Currency
Translation
Component |
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Pension and Other
Postretirement
Benefit Plans |
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Accumulated
Other Comprehensive
Income (Loss) |
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(In
thousands) |
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Balance at December 31, 2014
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$ |
(2,591) |
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$ |
(43,440) |
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$ |
(46,031) |
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Other comprehensive loss before reclassifications
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(15,056) |
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- |
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(15,056) |
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Amounts reclassified from accumulated other comprehensive
income
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- |
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2,568 |
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2,568 |
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Net current period other comprehensive income (loss)
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(15,056) |
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2,568 |
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(12,488) |
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Balance at September 27, 2015
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$ |
(17,647) |
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$ |
(40,872) |
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$ |
(58,519) |
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The following table summarizes the effects of
reclassifications from accumulated other comprehensive income
(loss) for the nine months ended September 27, 2015:
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Amount Reclassified from
Accumulated Other Comprehensive
Income (Loss) |
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Affected Line Item in the Consolidated
Statements of Operations and
Comprehensive Income |
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(In
thousands) |
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Amortization of pension and other postretirement benefit plan
items:
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Actuarial losses
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$ |
4,282 |
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(1) |
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Prior service credit
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(107) |
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(1) |
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Total before tax
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4,175 |
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Tax benefit
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(1,607) |
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Net of tax
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$ |
2,568 |
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(1) The amortization of these accumulated other
comprehensive income (loss) components are included in the
computation of net periodic benefit costs (see Note 10).
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