XML 68 R16.htm IDEA: XBRL DOCUMENT v2.4.0.8
Accumulated Other Comprehensive Income (Loss)
 9 Months Ended
Sep. 30, 2014
Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Accumulated Other Comprehensive Income (Loss)
The following table summarizes the after-tax changes in accumulated other comprehensive income (loss) for the nine months ended September 30, 2014:
(In Thousands)
Foreign
currency
translation
adjustment
 
Gain (loss) on
derivative
financial
instruments
 
Pension and
other
post-retirement
benefit
adjustments
 
Total
Beginning balance, January 1, 2014
$
(19,205
)
 
$
765

 
$
(71,848
)
 
$
(90,288
)
Other comprehensive income (loss) before reclassifications
(10,640
)
 
433

 
—

 
(10,207
)
Amounts reclassified from accumulated other comprehensive income (loss)
—

 
(216
)
 
4,949

 
4,733

Net other comprehensive income (loss) - current period
(10,640
)
 
217

 
4,949

 
(5,474
)
Ending balance, September 30, 2014
$
(29,845
)
 
$
982

 
$
(66,899
)
 
$
(95,762
)

The following table summarizes the after-tax changes in accumulated other comprehensive income (loss) for the nine months ended September 30, 2013:

(In Thousands)
Foreign
currency
translation
adjustment
 
Gain (loss) on
derivative
financial
instruments
 
Pension and
other
post-retirement
benefit
adjustments
 
Total
Beginning balance, January 1, 2013
$
131

 
$
993

 
$
(103,471
)
 
$
(102,347
)
Other comprehensive income (loss) before reclassifications
(12,543
)
 
(564
)
 
—

 
(13,107
)
Amounts reclassified from accumulated other comprehensive income (loss)
—

 
260

 
7,066

 
7,326

Net other comprehensive income (loss) - current period
(12,543
)
 
(304
)
 
7,066

 
(5,781
)
Ending balance, September 30, 2013
$
(12,412
)
 
$
689

 
$
(96,405
)
 
$
(108,128
)


Reclassifications of balances out of accumulated other comprehensive income (loss) into net income for the three months ended September 30, 2014 are summarized as follows:
(In Thousands)
Amount
reclassified from
other
comprehensive
income
 
Location of gain
(loss) reclassified
from accumulated
other
comprehensive
income to net
income
Gain (loss) on derivative financial instruments:
 
 
 
Aluminum future contracts, before taxes
$
300

 
Cost of sales
Foreign currency forward contracts, before taxes
—

 
 
Total, before taxes
300

 
 
Income tax expense (benefit)
113

 
Income taxes
Total, net of tax
$
187

 
 
Amortization of pension and other post-retirement benefits:
 
 
 
Actuarial gain (loss) and prior service costs, before taxes
$
(2,311
)
 
(a)
Income tax expense (benefit)
(842
)
 
Income taxes
Total, net of tax
$
(1,469
)
 
 
(a)
This component of accumulated other comprehensive income is included in the computation of net periodic pension cost (see Note 10 for additional detail).
Reclassifications of balances out of accumulated other comprehensive income (loss) into net income for the nine months ended September 30, 2014 are summarized as follows
:
(In Thousands)
Amount
reclassified from
other
comprehensive
income
 
Location of gain
(loss) reclassified
from accumulated
other
comprehensive
income to net
income
Gain (loss) on derivative financial instruments:
 
 
 
Aluminum future contracts, before taxes
$
346

 
Cost of sales
Foreign currency forward contracts, before taxes
—

 
 
Total, before taxes
346

 
 
Income tax expense (benefit)
130

 
Income taxes
Total, net of tax
$
216

 
 
Amortization of pension and other post-retirement benefits:
 
 
 
Actuarial gain (loss) and prior service costs, before taxes
$
(7,785
)
 
(a)
Income tax expense (benefit)
(2,836
)
 
Income taxes
Total, net of tax
$
(4,949
)
 
 
(a)
This component of accumulated other comprehensive income is included in the computation of net periodic pension cost (see Note 10 for additional detail).

Reclassifications of balances out of accumulated other comprehensive income (loss) into net income for the three months ended September 30, 2013 are summarized as follows:
(In Thousands)
Amount
reclassified from
other
comprehensive
income
 
Location of gain
(loss) reclassified
from accumulated
other
comprehensive
income to net
income
Gain (loss) on derivative financial instruments:
 
 
 
Aluminum future contracts, before taxes
$
(268
)
 
Cost of sales
Foreign currency forward contracts, before taxes
—

 
 
Total, before taxes
(268
)
 
 
Income tax expense (benefit)
(101
)
 
Income taxes
Total, net of tax
$
(167
)
 
 
Amortization of pension and other post-retirement benefits:
 
 
 
Actuarial gain (loss) and prior service costs, before taxes
$
(3,851
)
 
(a)
Income tax expense (benefit)
(1,410
)
 
Income taxes
Total, net of tax
$
(2,441
)
 
 
(a)
This component of accumulated other comprehensive income is included in the computation of net periodic pension cost (see Note 10 for additional detail).
Reclassifications of balances out of accumulated other comprehensive income (loss) into net income for the nine months ended September 30, 2013 are summarized as follows:

(In Thousands)
Amount
reclassified from
other
comprehensive
income
 
Location of gain
(loss) reclassified
from accumulated
other
comprehensive
income to net
income
Gain (loss) on derivative financial instruments:
 
 
 
Aluminum future contracts, before taxes
$
(417
)
 
Cost of sales
Foreign currency forward contracts, before taxes
—

 
 
Total, before taxes
(417
)
 
 
Income tax expense (benefit)
(157
)
 
Income taxes
Total, net of tax
$
(260
)
 
 
Amortization of pension and other post-retirement benefits:
 
 
 
Actuarial gain (loss) and prior service costs, before taxes
$
(11,149
)
 
(a)
Income tax expense (benefit)
(4,083
)
 
Income taxes
Total, net of tax
$
(7,066
)
 
 
(a)
This component of accumulated other comprehensive income is included in the computation of net periodic pension cost (see Note 10 for additional detail).