Accumulated Other Comprehensive Income

27 Months Ended

Mar. 31, 2013

Accumulated Other Comprehensive Income

Note 11. Accumulated Other Comprehensive Income

The Company’s other comprehensive income (loss) consists of (i) unrealized foreign currency net gains and losses on the translation of the assets and liabilities of its foreign operations, (ii) realized and unrealized foreign currency gains and losses on intercompany notes of a long-term nature and certain hedges of foreign subsidiaries, net of income taxes, (iii) unrealized gains and losses on cash flow hedges (consisting of interest rate swaps), net of income taxes, and (iv) pension and other postretirement prior service cost and actuarial gains or losses, net of income taxes.

The tax effect of each component of other comprehensive income for the three months ended March 31, 2013 is presented in the following table:

	Before-Tax Amount			Tax (Expense) or Benefit			Net of Tax Amount
Foreign currency translation adjustments, net	$	(28,501	)	$	—		$	(28,501	)
Foreign currency loss, net		(7,484	)		983			(6,501	)
Unrecognized gain on cash flow hedges, net		215			(81	)		134
Pension and other postretirement benefit prior service cost and gain or loss, net		2,333			(591	)		1,742
Other comprehensive loss	$	(33,437	)	$	311		$	(33,126	)

Changes in accumulated other comprehensive income by component for the three months ended March 31, 2013 are presented in the following table ⁽¹⁾:

	Cumulative Currency Translation Adjustment			Foreign Currency Gains and (Losses)			Unrealized (Losses) Gains on Cash Flow Hedges			Pension and Postretirement Benefit Plans			Total
Balance as of December 31, 2012	$	58,374		$	22,162		$	(314	)	$	(43,046	)	$	37,176
Other comprehensive income (loss) before reclassifications		(28,501	)		(6,501	)		(53	)		1,351			(33,704	)
Amounts reclassified from accumulated other comprehensive income (2)		—			—			187			391			578
Net current-period other comprehensive income (loss)		(28,501	)		(6,501	)		134			1,742			(33,126	)
Balance as of March 31, 2013	$	29,873		$	15,661		$	(180	)	$	(41,304	)	$	4,050

(1) All amounts are net of tax. Amounts in parentheses indicate debits.

(2) See the following table for details concerning these reclassifications.

Reclassifications out of accumulated other comprehensive income for the three months ended March 31, 2013 are presented in the following table:

Details about Accumulated Other Comprehensive Income Components	Amount Reclassified from Accumulated Other Comprehensive Income			Affected Line Item in the Statement Where Net Income is Presented
Loss on cash flow hedges
Interest rate swaps	$	301		Interest expense
		301		Total before tax
		(114	)	Income tax benefit
	$	187		Net of tax
Amortization of defined benefit pension and other postretirement benefit items
Prior-service costs		(346	)(3)
Actuarial losses		752	(3)
		406		Total before tax
		(15	)	Income tax benefit
	$	391		Net of tax
Total reclassifications for the period	$	578		Net of tax

(3) These components are included in the computation of net periodic benefit cost (see Note 7 “Pension and Other Postretirement Benefits” for additional details).