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OTHER | 9 Months Ended
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Sep. 30, 2015
OTHER | NOTE L — OTHER Cash dividends Dividends declared in the nine months ended September 30, 2015 are as follows:
Dividend per share |  |  | Date declared |  | Date of record |  | Payment date
$ | 0.0375 |  |  | March 4, 2015 |  | May 1, 2015 |  | May 15, 2015
$ | 0.0375 |  |  | June 10, 2015 |  | July 31, 2015 |  | August 14, 2015
$ | 0.0425 |  |  | August 4, 2015 |  | October 30, 2015 |  | November 13, 2015
On February 13, May 15, 2015 and August 14, 2015 the Company paid cash dividends of $514,000, $520,000 and $523,000, respectively. In the three months ended September 30, 2015, the Company reduced retained earnings for the accrual of $596,000 relating to the dividend payable on November 13, 2015. On November 3, 2015, the Board of Directors declared a quarterly dividend of $0.0425 per share payable on February 15, 2016 to shareholders of record on February 1, 2016. Supplemental cash flow information
|  | Nine Months Ended September 30, |
|  | 2015 |  |  | 2014 |
|  | (in thousands) |
Supplemental disclosure of cash flow information: |  |  |  |  |  |  |  |
Cash paid for interest |  | $ | 3,636 |  |  | $ | 3,664 |
Cash paid for taxes |  |  | 6,883 |  |  |  | 4,771 |
Non-cash investing activities: |  |  |  |  |  |  |  |
Translation adjustment |  | $ | 4,681 |  |  | $ | 1,577 |
Components of accumulated other comprehensive loss, net
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2015 |  |  | 2014 |  |  | 2015 |  |  | 2014 |
|  | (in thousands) |
Accumulated translation adjustment: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at beginning of period |  | $ | (9,187 | ) |  | $ | (1,212 | ) |  | $ | (7,680 | ) |  | $ | (2,944 | )
Translation loss during period |  |  | (3,174 | ) |  |  | (3,309 | ) |  |  | (4,681 | ) |  |  | (1,577 | )
Balance at end of period |  | $ | (12,361 | ) |  | $ | (4,521 | ) |  | $ | (12,361 | ) |  | $ | (4,521 | )
Accumulated deferred gains (losses) on cash flow hedges: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at beginning of period |  | $ | (55 | ) |  | $ | (65 | ) |  | $ | (18 | ) |  | $ | (31 | )
Derivative fair value adjustment, net of taxes of $22 and $49 for the three months ended September 30, 2015 and 2014, respectively, and $47 and $26 for the nine months ended September 30, 2015 and 2014, respectively. |  |  | (34 | ) |  |  | 73 |  |  |  | (71 | ) |  |  | 39 |
Balance at end of period |  | $ | (89 | ) |  | $ | 8 |  |  | $ | (89 | ) |  | $ | 8 |
Accumulated effect of retirement benefit obligations: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at beginning of period |  | $ | (2,184 | ) |  | $ | (731 | ) |  | $ | (2,224 | ) |  | $ | (745 | )
Amounts reclassified from accumulated other comprehensive loss: (1) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Amortization of actuarial losses, net of taxes of $13 and $5 for the three months ended September 30, 2015 and 2014, respectively, and $40 and $14 for the nine months ended September 30, 2015 and 2014, respectively. |  |  | 20 |  |  |  | 7 |  |  |  | 60 |  |  |  | 21 |
Balance at end of period |  | $ | (2,164 | ) |  | $ | (724 | ) |  | $ | (2,164 | ) |  | $ | (724 | )
Total accumulated other comprehensive loss at end of period |  | $ | (14,614 | ) |  | $ | (5,237 | ) |  | $ | (14,614 | ) |  | $ | (5,237 | )
(1) | Amounts are recorded in selling, general and administrative expense on the condensed consolidated statements of operations.
Review Report of Independent Registered Public Accounting Firm To the Board of Directors and Stockholders of Lifetime Brands, Inc.: We have reviewed the condensed consolidated balance sheet of Lifetime Brands, Inc. as of September 30, 2015, and the related condensed consolidated statements of operations and comprehensive income (loss) for the three and nine-month periods ended September 30, 2015 and 2014, and the related condensed consolidated statements of cash flows for the nine-month periods ended September 30, 2015 and 2014. These financial statements are the responsibility of the Company’s management. We conducted our review in accordance with the standards of the Public Company Accounting Oversight Board (United States). A review of interim financial information consists principally of applying analytical procedures and making inquiries of persons responsible for financial and accounting matters. It is substantially less in scope than an audit conducted in accordance with the standards of the Public Company Accounting Oversight Board (United States), the objective of which is the expression of an opinion regarding the financial statements taken as a whole. Accordingly, we do not express such an opinion. Based on our review, we are not aware of any material modifications that should be made to the condensed consolidated financial statements referred to above for them to be in conformity with U.S. generally accepted accounting principles. We have previously audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States), the consolidated balance sheet of Lifetime Brands, Inc. as of December 31, 2014, and the related consolidated statements of operations, comprehensive (loss) income, shareholders’ equity, and cash flows for the year then ended (not presented herein) and we expressed an unqualified audit opinion on those consolidated financial statements in our report dated March 16, 2015. We did not audit the consolidated financial statements of Grupo Vasconia, S.A.B. and Subsidiaries (a corporation in which the Company has a 30% interest), which statements have been audited by other auditors whose report has been furnished to us, and our opinion on the consolidated financial statements, insofar as it relates to the amounts included for Grupo Vasconia, S.A.B. and Subsidiaries, is based solely on the report of the other auditors. In the consolidated financial statements, the Company’s investment in Grupo Vasconia, S.A.B. and Subsidiaries is stated at $27.8 million at December 31, 2014, and the Company’s equity in the net income of Grupo Vasconia, S.A.B. and Subsidiaries is stated at $0.2 million for the year ended December 31, 2014. In our opinion, the accompanying condensed consolidated balance sheet of Lifetime Brands, Inc. as of December 31, 2014, is fairly stated, in all material respects, in relation to the consolidated balance sheet from which it has been derived.

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- Definition The entire disclosures of supplemental information, including descriptions and amounts, related to the balance sheet, income statement, and/or cash flow statement. + References No definition available. + Details
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