NOTE F – ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

The reclassifications out of accumulated other comprehensive loss as reported in the Consolidated Statements of Income are:

	Three Months Ended June 30,						Six Months Ended June 30,
(Dollars in thousands)	2015			2014			2015			2014
Pension and other postretirement benefits:
Recognized actuarial loss (a)	$	384		$	77		$	739		$	338
Settlement loss (b)		959			-			959			-
Settlement loss (c)		493			-			493			-
Total before income tax	$	1,836			77			2,191			338
Income tax		(674	)		(40	)		(803	)		(127	)
Net of income tax	$	1,162		$	37			1,388		$	211

(a)	The recognized actuarial loss is included in the computation of net periodic benefit cost. See Note E for additional details.

(b)	This portion of the settlement loss is included in Cost of products sold on the Statements of Income.

(c)	This portion of the settlement loss in included in Selling, general & administrative expenses on the Statements of Income.

The components of accumulated other comprehensive loss as reported in the Consolidated Balance Sheets are:

(Dollars in thousands)	Currency Translation Adjustments			Pension and Other Postretirement Benefits			Accumulated Other Comprehensive Income (loss)
Balance at January 1, 2015	$	(4,338	)	$	(12,988	)	$	(17,326	)
Reclassification adjustments		-			2,191			2,191
Current period credit (charge)		(2,215	)		-			(2,215	)
Income tax expense		-			(803	)		(803	)
Balance at June 30, 2015	$	(6,553	)	$	(11,600	)	$	(18,153	)

ART I – CONTINUED

ITEM 1.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) – CONTINUED

(Dollars in thousands)	Currency Translation Adjustments			Pension and Other Postretirement Benefits			Accumulated Other Comprehensive Income (loss)
Balance at January 1, 2014	$	(1,062	)	$	(7,399	)	$	(8,461	)
Reclassification adjustments		-			-			-
Current period credit (charge)		(149	)		338			187
Income tax expense		-			(127	)		(127	)
Balance at June 30, 2014	$	(1,211	)	$	(7,188	)	$	(8,399	)