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STOCKHOLDERS' EQUITY (Tables) | 12 Months Ended
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Dec. 31, 2012
STOCKHOLDERS' EQUITY |
Schedule of total comprehensive loss |
| Year Ended December 31
|  | 2012 |  | 2011 |  | 2010 |
| (in thousands) |
Net income (loss) |  | $ | (7,732 | ) | $ | 6,333 |  | $ | (32,421 | )
Less: Noncontrolling interest in net income of subsidiary |  | – |  | (174 | ) | (272 | )
Net income (loss) attributable to Arkansas Best Corporation |  | (7,732 | ) | 6,159 |  | (32,693 | )
Other comprehensive income (loss): |  |  |  |  |  |  |
Change in foreign currency translation, net of tax of (2012 – $10; 2011 – $69; 2010 – $49) |  | 19 |  | (108 | ) | 76 |
Unrecognized net actuarial gain (loss), net of tax of (2012 – $3,709; 2011 – $10,804; 2010 – $1,951) |  | (5,830 | ) | (27,178 | ) | 3,064 |
Amortization of unrecognized net periodic benefit costs, net of tax of (2012 – $4,354; 2011 – $2,789; 2010 – $3,119): |  |  |  |  |  |  |
Net actuarial loss |  | 6,957 |  | 4,497 |  | 4,819 |
Prior service credit |  | (116 | ) | (115 | ) | (4 | )
Net transition obligation |  | – |  | – |  | 82 |
Pension settlement expense, net of tax of (2012 – $0; 2011 – $438; 2010 – $69) |  | – |  | 687 |  | 109 |
Other, net of tax of (2012 – $0; 2011 – $70; 2010 – $7) |  | – |  | (132 | ) | 13 |
Other comprehensive income (loss) |  | 1,030 |  | (22,349 | ) | 8,159 |
Comprehensive loss attributable to Arkansas Best Corporation |  | $ | (6,702 | ) | $ | (16,190 | ) | $ | (24,534 | )
Components of accumulated other comprehensive loss | Components of accumulated other comprehensive loss were as follows at December 31:
|  | 2012 |  | 2011 |  | 2010 |
|  | (in thousands) |
Pre-tax amounts: |  |  |  |  |  |  |
Foreign currency translation |  | $ | (662 | ) | $ | (691 | ) | $ | (514 | )
Unrecognized net periodic benefit costs(1) |  | (86,737 | ) | (88,393 | ) | (58,707 | )
Other |  | – |  | – |  | 202 |
Total |  | $ | (87,399 | ) | $ | (89,084 | ) | $ | (59,019 | )
After-tax amounts: |  |  |  |  |  |  |
Foreign currency translation |  | $ | (404 | ) | $ | (423 | ) | $ | (315 | )
Unrecognized net periodic benefit costs(1) |  | (56,968 | ) | (57,979 | ) | (35,870 | )
Other |  | – |  | – |  | 132 |
Total |  | $ | (57,372 | ) | $ | (58,402 | ) | $ | (36,053 | )
(1) The increase in unrecognized net periodic benefit costs for the year ended December 31, 2011 reflected the impact of a $34.4 million ($25.0 million after tax) increase in the unrecognized net actuarial loss related to the nonunion defined benefit pension plan in 2011. The increase in the unrecognized net actuarial loss was primarily attributable to the decrease in the discount rate used to remeasure the plan obligation at December 31, 2011 and the amount required to adjust the assumed return on plan assets to the actual loss experienced in 2011. The nonunion defined benefit pension plan is discussed further in Note J.
Summary of dividends declared |
|  | 2012 |  | 2011 |  | 2010 |
|  | Per Share |  | Amount |  | Per Share |  | Amount |  | Per Share |  | Amount |
|  | (in thousands, except per share data) |
First quarter |  | $ | 0.03 |  | $ | 797 |  | $ | 0.03 |  | $ | 788 |  | $ | 0.03 |  | $ | 777 |
Second quarter |  | $ | 0.03 |  | $ | 808 |  | $ | 0.03 |  | $ | 797 |  | $ | 0.03 |  | $ | 777 |
Third quarter |  | $ | 0.03 |  | $ | 807 |  | $ | 0.03 |  | $ | 798 |  | $ | 0.03 |  | $ | 786 |
Fourth quarter |  | $ | 0.03 |  | $ | 807 |  | $ | 0.03 |  | $ | 797 |  | $ | 0.03 |  | $ | 786 |

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- Definition Tabular disclosure of the components of accumulated other comprehensive income (loss). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 14A -URI http://asc.fasb.org/extlink&oid=20435746&loc=SL7669686-108580 + Details
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- Definition Tabular disclosure of components of comprehensive income (loss) including, but not limited to: (a) foreign currency translation adjustments; (b) gains (losses) on foreign currency transactions that are designated as, and are effective as, economic hedges of a net investment in a foreign entity; (c) gains (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; (d) change in the market value of a futures contract that qualifies as a hedge of an asset reported at fair value; (e) unrealized holding gains (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; (f) a net loss recognized as an additional pension liability not yet recognized as net periodic pension cost; and (g) the net gain (loss) and net prior service cost or credit for pension plans and other postretirement benefit plans. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=20435746&loc=d3e526-108580 + Details
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- Definition Tabular disclosure of all or some of the information related to dividends declared, but not paid, as of the financial reporting date. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6367179&loc=d3e4304-108586 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 32 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
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