|
Capital and Accumulated Other Comprehensive Income (Loss) (Tables)
|
6 Months Ended |
|
Jun. 29, 2013
|
| Deferred Components of Other Comprehensive Income (Loss) Reported in Accumulated Other Comprehensive Income (Loss) in Stockholders' Equity Net of Related Income Taxes |
The deferred components of
other comprehensive income (loss) are reported in accumulated other
comprehensive income (loss) in stockholders’ equity, net of
related income taxes, as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
| In thousands |
|
June
2013 |
|
|
December
2012 |
|
|
June
2012 |
|
|
Foreign currency
translation
|
|
$ |
(42,716 |
) |
|
$ |
(4,068 |
) |
|
$ |
(81,253 |
) |
|
Defined benefit pension
plans
|
|
|
(394,785 |
) |
|
|
(420,538 |
) |
|
|
(334,084 |
) |
|
Derivative financial
instruments
|
|
|
(3,170 |
) |
|
|
(29,430 |
) |
|
|
(777 |
) |
|
Marketable
securities
|
|
|
(200 |
) |
|
|
141 |
|
|
|
(272 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Accumulated other
comprehensive income (loss)
|
|
$ |
(440,871 |
) |
|
$ |
(453,895 |
) |
|
$ |
(416,386 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Changes in Accumulated Other Comprehensive Income (Loss) |
The changes in accumulated
other comprehensive income (loss) are as follows:
|
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Three Months Ended June
2013 |
|
| In thousands |
|
Foreign
Currency
Translation (a) |
|
|
Defined
Benefit
Pension Plans |
|
|
Derivative
Financial
Instruments |
|
|
Marketable
Securities |
|
|
Total |
|
|
Balance, March
2013
|
|
$ |
(17,866 |
) |
|
$ |
(407,679 |
) |
|
$ |
1,924 |
|
|
$ |
486 |
|
|
$ |
(423,135 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other comprehensive income
(loss) before reclassifications
|
|
|
(24,850 |
) |
|
|
— |
|
|
|
(1,878 |
) |
|
|
(686 |
) |
|
|
(27,414 |
) |
|
Amounts reclassified from
accumulated other comprehensive income (loss)
|
|
|
— |
|
|
|
12,894 |
|
|
|
(3,216 |
) |
|
|
— |
|
|
|
9,678 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net other comprehensive
income (loss)
|
|
|
(24,850 |
) |
|
|
12,894 |
|
|
|
(5,094 |
) |
|
|
(686 |
) |
|
|
(17,736 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance, June
2013
|
|
$ |
(42,716 |
) |
|
$ |
(394,785 |
) |
|
$ |
(3,170 |
) |
|
$ |
(200 |
) |
|
$ |
(440,871 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Six Months Ended June
2013 |
|
| In thousands |
|
Foreign
Currency
Translation |
|
|
Defined
Benefit
Pension Plans |
|
|
Derivative
Financial
Instruments |
|
|
Marketable
Securities |
|
|
Total |
|
|
Balance, December
2012
|
|
$ |
(4,068 |
) |
|
$ |
(420,538 |
) |
|
$ |
(29,430 |
) |
|
$ |
141 |
|
|
$ |
(453,895 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other comprehensive income
(loss) before reclassifications
|
|
|
(38,648 |
) |
|
|
— |
|
|
|
31,806 |
|
|
|
(341 |
) |
|
|
(7,183 |
) |
|
Amounts reclassified from
accumulated other comprehensive income (loss)
|
|
|
— |
|
|
|
25,753 |
|
|
|
(5,546 |
) |
|
|
— |
|
|
|
20,207 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net other comprehensive
income (loss)
|
|
|
(38,648 |
) |
|
|
25,753 |
|
|
|
26,260 |
|
|
|
(341 |
) |
|
|
13,024 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance, June
2013
|
|
$ |
(42,716 |
) |
|
$ |
(394,785 |
) |
|
$ |
(3,170 |
) |
|
$ |
(200 |
) |
|
$ |
(440,871 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
| (a) |
Other comprehensive income (loss) for the three months ended
June 2013 includes a loss of $21.8 million related to the first
quarter of 2013. This out-of-period adjustment did not have a
material impact on the current or previous reported
quarter.
|
|
| Reclassifications Out of Accumulated Other Comprehensive Income (Loss) |
Reclassifications out of
accumulated other comprehensive income (loss) are as
follows:
|
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|
|
|
|
|
|
|
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|
| In thousands |
|
|
|
Amount Reclassified From Accumulated |
|
|
Details
About Accumulated Other
Comprehensive Income (Loss) Components
|
|
Affected Line Item in
the
Consolidated Statements
of Income (Loss)
|
|
Other Comprehensive Income (Loss) |
|
| |
|
Three
Months
Ended June 2013
|
|
|
Six
Months
Ended
June 2013
|
|
|
Gains and losses on
derivative financial instruments:
|
|
|
|
|
|
|
|
|
|
|
|
Foreign exchange
contracts
|
|
Net sales |
|
$ |
1,378 |
|
|
$ |
1,223 |
|
|
Foreign exchange
contracts
|
|
Cost of goods sold |
|
|
3,683 |
|
|
|
7,541 |
|
|
Foreign exchange
contracts
|
|
Other income (expense), net |
|
|
1,209 |
|
|
|
2,301 |
|
|
Interest rate
contracts
|
|
Interest expense |
|
|
(972 |
) |
|
|
(1,929 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total before tax |
|
|
5,298 |
|
|
|
9,136 |
|
|
|
Tax benefit
(expense) |
|
|
(2,082 |
) |
|
|
(3,590 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net of tax |
|
$ |
3,216 |
|
|
$ |
5,546 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Amortization of defined
benefit pension plans:
|
|
|
|
|
|
|
|
|
|
|
|
Net deferred actuarial
losses
|
|
(b) |
|
$ |
(21,326 |
) |
|
$ |
(42,688 |
) |
|
Deferred prior service
cost
|
|
(b) |
|
|
(316 |
) |
|
|
(657 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total before tax |
|
|
(21,642 |
) |
|
|
(43,345 |
) |
|
|
Tax benefit
(expense) |
|
|
8,748 |
|
|
|
17,592 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net of tax |
|
|
(12,894 |
) |
|
|
(25,753 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
Total reclassifications for
the period
|
|
Net of tax |
|
$ |
(9,678 |
) |
|
$ |
(20,207 |
) |
|
|
|
|
|
|
|
|
|
|
|
| (b) |
These accumulated other comprehensive income (loss) components
are included in the computation of net periodic pension cost (see
Note H for additional details).
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|