Quarterly report pursuant to Section 13 or 15(d)

Capital and Accumulated Other Comprehensive Income (Loss) (Tables)

v2.4.0.8
Capital and Accumulated Other Comprehensive Income (Loss) (Tables)
9 Months Ended
Sep. 28, 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    September
2013
    December
2012
    September
2012
 

Foreign currency translation

   $ 55,746      $ (4,068   $ (48,135

Defined benefit pension plans

     (381,608     (420,538     (322,596

Derivative financial instruments

     (40,199     (29,430     (15,715

Marketable securities

     91        141        (407
  

 

 

   

 

 

   

 

 

 

Accumulated other comprehensive income (loss)

   $ (365,970   $ (453,895   $ (386,853
  

 

 

   

 

 

   

 

 

 
Changes in Accumulated Other Comprehensive Income (Loss)

The changes in accumulated other comprehensive income (loss) are as follows:

 

     Three Months Ended September 2013  
In thousands    Foreign
Currency
Translation
    Defined
Benefit
Pension Plans
    Derivative
Financial
Instruments
    Marketable
Securities
    Total  

Balance, June 2013

   $ (42,716   $ (394,785   $ (3,170   $ (200   $ (440,871
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Other comprehensive income (loss) before reclassifications

     98,462        —          (33,041     291        65,712   

Amounts reclassified from accumulated other comprehensive income (loss)

     —          13,177        (3,988     —          9,189   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net other comprehensive income (loss)

     98,462        13,177        (37,029     291        74,901   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Balance, September 2013

   $ 55,746      $ (381,608   $ (40,199   $ 91      $ (365,970
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

     Nine Months Ended September 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

     59,814        —          (1,235     (50     58,529   

Amounts reclassified from accumulated other comprehensive income (loss)

     —          38,930        (9,534     —          29,396   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net other comprehensive income (loss)

     59,814        38,930        (10,769     (50     87,925   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Balance, September 2013

   $ 55,746      $ (381,608   $ (40,199   $ 91      $ (365,970
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 
Reclassifications Out of Accumulated Other Comprehensive Income (Loss)

Reclassifications out of accumulated other comprehensive income (loss) are as follows:

 

In thousands    Affected Line Item in the
Consolidated Statements
of Income (Loss)
  Amount Reclassified From Accumulated
Other Comprehensive Income (Loss)
 

Details About Accumulated Other
Comprehensive Income (Loss) Components

    
     Three Months
Ended September 2013
    Nine Months
Ended September 2013
 

Amortization of defined benefit pension plans:

      

Net deferred actuarial losses

   (a)   $ (21,333   $ (64,021

Deferred prior service cost

   (a)     (317     (974
    

 

 

   

 

 

 
   Total before tax     (21,650     (64,995
   Tax benefit (expense)     8,473        26,065   
    

 

 

   

 

 

 
   Net of tax   $ (13,177   $ (38,930
    

 

 

   

 

 

 

Gains and losses on derivative financial instruments:

      

Foreign exchange contracts

   Net sales   $ 6,195      $ 7,418   

Foreign exchange contracts

   Cost of goods sold     3,574        11,115   

Foreign exchange contracts

   Other income (expense), net     (2,218     83   

Interest rate contracts

   Interest expense     (980     (2,909
    

 

 

   

 

 

 
   Total before tax     6,571        15,707   
   Tax benefit (expense)     (2,583     (6,173
    

 

 

   

 

 

 
   Net of tax     3,988        9,534   
    

 

 

   

 

 

 

Total reclassifications for the period

   Net of tax   $ (9,189   $ (29,396
    

 

 

   

 

 

 

 

(a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension cost (see Note H for additional details).