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Note 7 - Accumulated Other Comprehensive Loss

12 Months Ended

Dec. 31, 2020

Notes to Financial Statements

Comprehensive Income (Loss) Note [Text Block]

Note 7 – Accumulated Other Comprehensive Loss

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

Pension and other postretirement benefits:		2020				2019				2018
Recognized actuarial loss (a)		$	2,466			$	1,753			$	1,164
Settlement loss (b)			4,583				-				2,852
Total before income tax			7,049				1,753				4,016
Income tax			(1,368	)			(363	)			(823	)
Net of income tax		$	5,681			$	1,390			$	3,193

(a) The recognized actuarial loss is included in the computation of net periodic benefit cost. See Note 9 to the Consolidated Financial Statements, Pensions and Other Postretirement Benefits

(b) The settlement loss is included in Other (expense) income, net in the Consolidated Statements of Income

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

		Currency Translation Adjustments				Pension and OPEB Adjustments				Accumulated Other Comprehensive (Loss) Income
Balance at December 31, 2017		$	(5,321	)		$	(7,188	)		$	(12,509	)
Reclassification of stranded income tax effects in accumulated other comprehensive income			-				(2,070	)			(2,070	)
Reclassification adjustments			-				4,016				4,016
Current period charge			(2,922	)			(9,644	)			(12,566	)
Income tax charge			-				(294	)			(294	)
Balance at December 31, 2018			(8,243	)			(15,180	)			(23,423	)
Reclassification adjustments			-				1,753				1,753
Current period benefit (charge)			88				(8,521	)			(8,433	)
Income tax benefit			-				1,566				1,566
Balance at December 31, 2019			(8,155	)			(20,382	)			(28,537	)
Reclassification adjustments			-				7,049				7,049
Current period benefit (charge)			3,111				(13,510	)			(10,399	)
Income tax benefit			-				1,510				1,510
Balance at December 31, 2020		$	(5,044	)		$	(25,333	)		$	(30,377	)

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- Definition

The entire disclosure for comprehensive income, which includes, but is not limited to, 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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-URI http://asc.fasb.org/topic&trid=2134417

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(21))
-URI http://asc.fasb.org/extlink&oid=120395209&loc=SL114868664-224227

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(23))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(19))
-URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

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- References

No definition available.

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