Comprehensive Income (Loss) and Accumulated Other Comprehensive Loss

6 Months Ended

Jun. 30, 2011

Notes to Financial Statements [Abstract]

Comprehensive income (loss) and Accumulated other comprehensive loss

Comprehensive income:
	Six months ended June 30,
	2011			2010
Net income	$	49,032		$	11,478
Other comprehensive income (loss):
Net unrealized loss on financial instruments, net of $0 tax		(33	)		(42	)
Net gain on cash flow hedges reclassified to income, net of $0 tax		(50	)		—
Net gain on foreign currency cash flow hedges reclassified to income, net of tax of $17 and $17, respectively		(76	)		(76	)
Defined benefit pension and other postemployment benefit plans:
Net loss arising during the period, net of $0 tax		(5,769	)		(4,939	)
Amortization of prior service cost during the period, net of $(8,811) and $173 tax, respectively		(39,431	)		(318	)
Amortization of net loss during the period, net of $3,821 and $(859) tax, respectively		17,101			1,573
Other comprehensive loss		(28,258	)		(3,802	)
Comprehensive income	$	20,774		$	7,676

Components of Accumulated other comprehensive loss:
	June 30, 2011			December 31, 2010
Unrealized loss on financial instruments, net of $699 and $716 tax benefit, respectively	$	(1,290	)	$	(1,131	)
Defined benefit plan liabilities, net of $18,685 and $23,674 tax benefit, respectively		(68,720	)		(40,621	)
Equity in investee other comprehensive income, net of $0 and $0 tax, respectively (1)		(8,224	)		(8,224	)
Accumulated other comprehensive loss	$	(78,234	)	$	(49,976	)

(1)	The amount includes our equity in the other comprehensive income of Mt. Holly Aluminum Company.

- Definition

This label may include the following: 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income. Components of comprehensive income include: (1) foreign currency translation adjustments; (2) gains and losses on foreign currency transactions that are designated as, and are effective as, economic hedges of a net investment in a foreign entity; (3) gains and losses on intercompany foreign currency transactions that are of a long-term-investment nature, when the entities to the transaction are consolidated, combined, or accounted for by the equity method in the reporting enterprise's financial statements; (4) change in the market value of a futures contract that qualifies as a hedge of an asset reported at fair value; (5) unrealized holding gains and losses on available-for-sale securities and that resulting from transfers of debt securities from the held-to-maturity category to the available-for-sale category; (6) a net loss recognized as an additional pension liability not yet recognized as net periodic pension cost; and (7) the net gain or loss and net prior service cost or credit for pension plans and other postretirement benefit plans.

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