<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 0px; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> <strong><em>9.</em> Accumulated Other Comprehensive Income</strong></p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> The Company adopted the provisions of Accounting Standards Update 2013-02 for the first quarter of 2013, which requires enhanced disclosures of Accumulated Other Comprehensive Income.</p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> The table below presents changes in the components of Accumulated Other Comprehensive Income for the period December 31, 2012 to March 31, 2013:</p> <p style="TEXT-INDENT: 0.5in; MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Arial, Helvetica, Sans-Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-TOP: black 1pt solid"> (in thousands)</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-TOP: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; BORDER-TOP: black 1pt solid" colspan="2">Translation adjustments</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-TOP: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; BORDER-TOP: black 1pt solid" colspan="2">Pension and postretirement liability adjustments</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-TOP: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; BORDER-TOP: black 1pt solid" colspan="2">Derivative valuation adjustment</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-TOP: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; BORDER-TOP: black 1pt solid" colspan="2">Total Other Comprehensive Income</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td> </td> <td> </td> <td colspan="2"> </td> <td> </td> <td colspan="2"> </td> <td> </td> <td colspan="2"> </td> <td> </td> <td colspan="2"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 5.4pt; WIDTH: 40%; FONT-WEIGHT: bold"> Balance, December 31, 2012</td> <td style="BORDER-BOTTOM: black 1pt solid; WIDTH: 3%; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 11%; FONT-WEIGHT: bold"> ($7,659</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 1%; FONT-WEIGHT: bold"> )</td> <td style="BORDER-BOTTOM: black 1pt solid; WIDTH: 3%; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 11%; FONT-WEIGHT: bold"> ($69,484</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 1%; FONT-WEIGHT: bold"> )</td> <td style="BORDER-BOTTOM: black 1pt solid; WIDTH: 3%; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 11%; FONT-WEIGHT: bold"> ($2,878</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 1%; FONT-WEIGHT: bold"> )</td> <td style="BORDER-BOTTOM: black 1pt solid; WIDTH: 3%; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 11%; FONT-WEIGHT: bold"> ($80,021</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 1%; FONT-WEIGHT: bold"> )</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt">Other comprehensive income before reclassifications</td> <td> </td> <td style="TEXT-ALIGN: right">(11,288</td> <td style="TEXT-ALIGN: left">)</td> <td> </td> <td style="TEXT-ALIGN: right">666</td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">279</td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">(10,343</td> <td style="TEXT-ALIGN: left">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt"> Transfers of pension and postretirement liability adjustments to income statement, net of tax</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 503</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> -</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 503</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt"> Net current period other comprehensive income</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (11,288</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">)</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 1,169</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 279</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (9,840</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 5.4pt; FONT-WEIGHT: bold"> Balance, March 31, 2013</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold"> ($18,947</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-WEIGHT: bold"> )</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold"> ($68,315</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-WEIGHT: bold"> )</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold"> ($2,599</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-WEIGHT: bold"> )</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold"> ($89,861</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-WEIGHT: bold"> )</td> </tr> </table> <p style="MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> The only component of our Accumulated Other Comprehensive Income that is reclassified to the Statement of Income relates to our pension and postretirement plans. The table below presents the amounts reclassified, and the line items of the Statement of Income that were affected.</p> <p style="TEXT-INDENT: 0.5in; MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Arial, Helvetica, Sans-Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-TOP: black 1pt solid">For the three months ended March 31, 2013</td> <td style="BORDER-TOP: black 1pt solid"> </td> <td style="BORDER-TOP: black 1pt solid" colspan="2"> Expense/(income)</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid">(in thousands)</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">2013</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; FONT-WEIGHT: bold"> Pretax amounts reclassified from Accumulated Other Comprehensive Income:</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; WIDTH: 70%"> Amortization of prior service cost/(credit)</td> <td style="WIDTH: 14%"> </td> <td style="TEXT-ALIGN: right; WIDTH: 15%">($908</td> <td style="TEXT-ALIGN: left; WIDTH: 1%">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt">Amortization of transition obligation</td> <td> </td> <td style="TEXT-ALIGN: right">17</td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt"> Amortization of net actuarial loss</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 1,664</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt">Total pretax amount reclassified</td> <td> </td> <td style="TEXT-ALIGN: right">773</td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt"> Income tax effect</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (270</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt"> Effect on net income due to items reclassified from Accumulated Other Comprehensive Income</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> $503</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> </tr> </table> <!--EndFragment--></div> </div>
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<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> The only component of our Accumulated Other Comprehensive Income that is reclassified to the Statement of Income relates to our pension and postretirement plans. The table below presents the amounts reclassified, and the line items of the Statement of Income that were affected.</p> <p style="TEXT-INDENT: 0.5in; MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Arial, Helvetica, Sans-Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-TOP: black 1pt solid">For the three months ended March 31, 2013</td> <td style="BORDER-TOP: black 1pt solid"> </td> <td style="BORDER-TOP: black 1pt solid" colspan="2"> Expense/(income)</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid">(in thousands)</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">2013</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; FONT-WEIGHT: bold"> Pretax amounts reclassified from Accumulated Other Comprehensive Income:</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; WIDTH: 70%"> Amortization of prior service cost/(credit)</td> <td style="WIDTH: 14%"> </td> <td style="TEXT-ALIGN: right; WIDTH: 15%">($908</td> <td style="TEXT-ALIGN: left; WIDTH: 1%">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt">Amortization of transition obligation</td> <td> </td> <td style="TEXT-ALIGN: right">17</td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt"> Amortization of net actuarial loss</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 1,664</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt">Total pretax amount reclassified</td> <td> </td> <td style="TEXT-ALIGN: right">773</td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt"> Income tax effect</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (270</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt"> Effect on net income due to items reclassified from Accumulated Other Comprehensive Income</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> $503</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> </tr> </table> <!--EndFragment--></div> </div>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="MARGIN-TOP: 9px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> The table below presents pension settlement and restructuring costs by reportable segment (also see Note 5):</p> <p style="TEXT-INDENT: 0.5in; MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> <table style="WIDTH: 80%; BORDER-COLLAPSE: collapse; FONT: 10pt Arial, Helvetica, Sans-Serif" cellspacing="0" cellpadding="0" align="center"> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-TOP: black 1pt solid"> </td> <td style="COLOR: black; BORDER-TOP: black 1pt solid"> </td> <td style="TEXT-ALIGN: center; COLOR: black; BORDER-TOP: black 1pt solid" colspan="5">Three months ended March 31,</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-WEIGHT: bold"> (in thousands)</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">2013</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">2012</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; FONT-WEIGHT: bold"> Pension settlement</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; WIDTH: 56%"> Unallocated expenses</td> <td style="BORDER-BOTTOM: black 1pt solid; WIDTH: 8%; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 13%; FONT-WEIGHT: bold"> $ -</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 1%; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; WIDTH: 8%"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 13%"> $9,175</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 1%"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; FONT-WEIGHT: bold"> Restructuring expense</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt">Machine Clothing</td> <td style="FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; FONT-WEIGHT: bold">$193</td> <td style="TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> <td> </td> <td style="TEXT-ALIGN: right">$673</td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt">Engineered Composites</td> <td style="FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; FONT-WEIGHT: bold">443</td> <td style="TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> <td> </td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt"> Unallocated expenses</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold"> -</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (415</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt"> Consolidated total</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold"> $636</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> $258</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> </tr> </table> <!--EndFragment--></div> </div>
13062000
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--12-31
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ALBANY INTERNATIONAL CORP /DE/
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<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 0px; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> <strong>17. Recent Accounting Pronouncements</strong></p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> In February 2013, the Financial Accounting Standards Board (FASB) issued ASU 2013-02 which requires enhanced disclosures about changes in Accumulated Other Comprehensive Income. We adopted these provisions in the first quarter of 2013 by adding a Note to the Consolidated Financial Statements that provides the additional disclosures.</p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> In the first quarter of 2013, the Company adopted the provisions of ASU 2013-01 which requires enhanced disclosures of the effect or potential effect of netting arrangements on an entity's financial position. This includes the effect or potential effect of rights of setoff associated with an entity's recognized assets and recognized liabilities within the scope of this Update. The Company has an interest rate swap agreement that is within the scope of Update and we have added additional disclosure in the Notes to Consolidated Financial Statements about the offsetting asset and liability components of that agreement.</p> <!--EndFragment--></div> </div>
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<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 0px; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> <strong><em>2. Discontinued Operations</em></strong></p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> In October 2011 we entered into a contract to sell the assets and liabilities of our Albany Door Systems business to Assa Abloy AB for $130 million. Closing on the transaction occurred on January 11, 2012. Under the terms of the contract, Assa Abloy AB acquired our equity ownership of Albany Doors Systems GmbH in Germany, Albany Door Systems AB in Sweden, and other ADS affiliates in Germany, France, the Netherlands, Turkey, Poland, Belgium, New Zealand, and other countries, as well as the remaining ADS business assets, most of which are located in the United States, Australia, China, and Italy. In the first quarter of 2012 the Company recorded a pre-tax gain of $58.0 million, including $17.4 million which was payable by the purchaser as of March 31, 2012. The initial purchase price of $130 million included $13 million to be paid in July 2013. We recorded the value of that consideration on a present value basis and, as of March 31, 2013, we have a receivable of $12.9 million included in Accounts receivable.</p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> In May 2012, we announced an agreement to sell our PrimaLoft<sup>®</sup> Products business and that transaction closed on June 29, 2012. Under the terms of the agreement, the purchaser acquired all of the assets of that business, which were located in the United States, Italy and Germany. The purchase price of $38.0 million included $3.8 million held in an escrow account which is included in Accounts receivable and is expected to be received in December 2013. The Company recorded a pre-tax gain in the second quarter of 2012 of $34.9 million as result of that sale.</p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> We have provided customary representations and warranties in the sale of both of these businesses but we do not expect any material negative financial consequence will result from these arrangements. In accordance with the applicable accounting guidance for discontinued businesses, the associated results of operations and financial position are reported separately in the accompanying Consolidated Statements of Income and Balance Sheets. Cash flows of the discontinued operation were combined with cash flows from continuing operations in the Consolidated Statements of Cash Flows.</p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> The table below summarizes operating results of the discontinued operations:</p> <table style="WIDTH: 90%; BORDER-COLLAPSE: collapse; FONT: 10pt Arial, Helvetica, Sans-Serif" cellspacing="0" cellpadding="0" align="center"> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-TOP: black 1pt solid"> </td> <td style="BORDER-TOP: black 1pt solid"> </td> <td style="TEXT-ALIGN: center; BORDER-TOP: black 1pt solid" colspan="3" nowrap="nowrap">Three months<br /> ended</td> <td style="BORDER-TOP: black 1pt solid" nowrap="nowrap"> </td> <td style="TEXT-ALIGN: center; BORDER-TOP: black 1pt solid" colspan="3" nowrap="nowrap">Three months<br /> ended</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold" nowrap="nowrap">(in thousands)</td> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold" nowrap="nowrap"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="3" nowrap="nowrap">March 31, 2013</td> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold" nowrap="nowrap"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="3" nowrap="nowrap">March 31, 2012</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td> </td> <td> </td> <td colspan="3"> </td> <td> </td> <td colspan="3"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; WIDTH: 63%">Net sales</td> <td style="WIDTH: 1%; FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: left; WIDTH: 6%; FONT-WEIGHT: bold">$</td> <td style="TEXT-ALIGN: right; WIDTH: 13%; FONT-WEIGHT: bold">-</td> <td style="TEXT-ALIGN: left; WIDTH: 2%; FONT-WEIGHT: bold"> </td> <td style="WIDTH: 1%; FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-WEIGHT: bold">$</td> <td style="TEXT-ALIGN: right; WIDTH: 12%; FONT-WEIGHT: bold"> 9,491</td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-WEIGHT: bold"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt"> </td> <td> </td> <td style="TEXT-ALIGN: left"> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: left"> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt" nowrap="nowrap"> Income from operations of discontinued business before tax</td> <td style="FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; FONT-WEIGHT: bold">-</td> <td style="TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> <td style="FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; FONT-WEIGHT: bold">2,016</td> <td style="TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt"> </td> <td> </td> <td style="TEXT-ALIGN: left"> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: left"> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt">Gain on disposition of discontinued operations</td> <td style="FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; FONT-WEIGHT: bold">-</td> <td style="TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> <td style="FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; FONT-WEIGHT: bold">57,968</td> <td style="TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt"> </td> <td> </td> <td style="TEXT-ALIGN: left"> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: left"> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt"> Income tax expense</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold"> -</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold"> 12,814</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> </tr> </table> <p style="TEXT-INDENT: 0.5in; MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> Income tax expense in 2012 included a charge of $5.4 million pertaining to cash repatriations that occurred in 2012 as a result of the sale of the Albany Doors business.</p> <!--EndFragment--></div> </div>
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<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 0px; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> <strong><em>8. Earnings Per Share</em></strong></p> <p style="MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> Earnings per share are computed using the weighted average number of shares of Class A Common Stock and Class B Common Stock outstanding during the period. Diluted earnings per share include the effect of all potentially dilutive securities.</p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> The amounts used in computing earnings per share and the weighted average number of shares of potentially dilutive securities are as follows:</p> <p style="TEXT-INDENT: 0.5in; MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Calibri, Helvetica, Sans-Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-TOP: black 1pt solid"> </td> <td style="FONT-FAMILY: Arial, Helvetica, Sans-Serif; BORDER-TOP: black 1pt solid"> </td> <td style="TEXT-ALIGN: center; FONT-FAMILY: Arial, Helvetica, Sans-Serif; BORDER-TOP: black 1pt solid" colspan="5">Three months ended March 31,</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> (in thousands, except market price data)</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold" colspan="2">2013</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif" colspan="2">2012</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td> </td> <td> </td> <td colspan="2"> </td> <td> </td> <td colspan="2"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; WIDTH: 56%; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> Net income available to common shareholders</td> <td style="BORDER-BOTTOM: black 1pt solid; WIDTH: 12%; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 9%; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> $11,511</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 1%; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; WIDTH: 11%; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> $47,041</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 1%; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> Weighted average number of shares:</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> Weighted average number of shares used in</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> calculating basic net income/(loss) per share</td> <td style="FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> 31,496</td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> </td> <td style="FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> 31,309</td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> Effect of dilutive stock-based compensation plans:</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> Stock options</td> <td style="FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> 113</td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> </td> <td style="FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> 110</td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> Long-term incentive plan</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> 173</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> 114</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> Weighted average number of shares used in</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> calculating diluted net income per share</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> 31,782</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> 31,533</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> Effect of stock-based compensation plans</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> that were not included in the computation of</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> diluted earnings per share because</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> to do so would have been antidilutive</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> -</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> -</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> Average market price of common stock used</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 5.4pt; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> for calculation of dilutive shares</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> $26.41</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> $23.97</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> Net income per share:</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> Basic</td> <td style="FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> $0.37</td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> </td> <td style="FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> $1.50</td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 5.4pt; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> Diluted</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> $0.36</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> $1.49</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> </tr> </table> <p style="MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> The following table presents the number of shares issued and outstanding:</p> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; VERTICAL-ALIGN: bottom; BORDER-TOP: black 1pt solid" colspan="2"> </td> <td style="FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black; BORDER-TOP: black 1pt solid"> </td> <td style="TEXT-ALIGN: center; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black; VERTICAL-ALIGN: bottom; BORDER-TOP: black 1pt solid" colspan="2">Class A</td> <td style="TEXT-ALIGN: center; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black; VERTICAL-ALIGN: bottom; BORDER-TOP: black 1pt solid"> </td> <td style="TEXT-ALIGN: center; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black; VERTICAL-ALIGN: bottom; BORDER-TOP: black 1pt solid" colspan="2">Class B</td> <td style="TEXT-ALIGN: center; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black; VERTICAL-ALIGN: bottom; BORDER-TOP: black 1pt solid"> </td> <td style="TEXT-ALIGN: center; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black; VERTICAL-ALIGN: bottom; BORDER-TOP: black 1pt solid" colspan="2">Less: Treasury</td> <td style="TEXT-ALIGN: center; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black; VERTICAL-ALIGN: bottom; BORDER-TOP: black 1pt solid"> </td> <td style="TEXT-ALIGN: center; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black; VERTICAL-ALIGN: bottom; BORDER-TOP: black 1pt solid" colspan="2">Net shares</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; VERTICAL-ALIGN: bottom" colspan="2"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black; VERTICAL-ALIGN: bottom"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black; VERTICAL-ALIGN: bottom" colspan="2">Shares</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black; VERTICAL-ALIGN: bottom"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black; VERTICAL-ALIGN: bottom" colspan="2">Shares</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black; VERTICAL-ALIGN: bottom"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black; VERTICAL-ALIGN: bottom" colspan="2">Shares</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black; VERTICAL-ALIGN: bottom"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black; VERTICAL-ALIGN: bottom" colspan="2">Outstanding</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; VERTICAL-ALIGN: bottom"> </td> <td style="TEXT-ALIGN: left; VERTICAL-ALIGN: bottom"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; WIDTH: 17%; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black; VERTICAL-ALIGN: bottom"> March 31, 2013</td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black; VERTICAL-ALIGN: bottom"> </td> <td style="WIDTH: 3%; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black"> </td> <td style="TEXT-ALIGN: right; WIDTH: 17%; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black"> 36,827,227</td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black"> </td> <td style="WIDTH: 3%; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black"> </td> <td style="TEXT-ALIGN: right; WIDTH: 17%; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black"> 3,236,098</td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black"> </td> <td style="WIDTH: 3%; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black"> </td> <td style="TEXT-ALIGN: right; WIDTH: 16%; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black"> (8,467,873</td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black"> )</td> <td style="WIDTH: 3%; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black"> </td> <td style="TEXT-ALIGN: right; WIDTH: 16%; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black"> 31,595,452</td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black; VERTICAL-ALIGN: bottom"> December 31, 2012</td> <td style="TEXT-ALIGN: left; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black; VERTICAL-ALIGN: bottom"> </td> <td style="FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black"> </td> <td style="TEXT-ALIGN: right; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black"> 36,642,204</td> <td style="TEXT-ALIGN: left; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black"> </td> <td style="FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black"> </td> <td style="TEXT-ALIGN: right; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black"> 3,236,098</td> <td style="TEXT-ALIGN: left; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black"> </td> <td style="FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black"> </td> <td style="TEXT-ALIGN: right; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black"> (8,467,873</td> <td style="TEXT-ALIGN: left; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black"> )</td> <td style="FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black"> </td> <td style="TEXT-ALIGN: right; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black"> 31,410,429</td> <td style="TEXT-ALIGN: left; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black; VERTICAL-ALIGN: bottom"> March 31, 2012</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black; VERTICAL-ALIGN: bottom"> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black"> 36,585,004</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black"> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black"> 3,236,098</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black"> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black"> (8,479,487</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black"> )</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black"> 31,341,615</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black"> </td> </tr> </table> <!--EndFragment--></div> </div>
-3471000
8569000
352000
3000
352000
3000
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 0px; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> <strong><em>14. Fair-Value Measurements</em></strong></p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. Accounting principles establish a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. The hierarchy is broken down into three general levels: Level 1 inputs are quoted prices in active markets for identical assets or liabilities; Level 2 inputs include data points that are observable, such as quoted prices for similar assets or liabilities in active markets, quoted prices for identical assets or similar assets or liabilities in markets that are not active, and inputs (other than quoted prices) such as interest rates and yield curves that are observable for the asset and liability, either directly or indirectly; Level 3 inputs are unobservable data points for the asset or liability, and include situations in which there is little, if any, market activity for the asset or liability.</p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> The following table presents the fair-value hierarchy for our financial assets and liabilities measured at fair value on a recurring basis:</p> <p style="TEXT-INDENT: 0.5in; MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Calibri, Helvetica, Sans-Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-TOP: black 1pt solid"> </td> <td style="FONT-FAMILY: Arial, Helvetica, Sans-Serif; BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: center; FONT-FAMILY: Arial, Helvetica, Sans-Serif; BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold" colspan="2" nowrap="nowrap">Total fair value</td> <td style="FONT-FAMILY: Arial, Helvetica, Sans-Serif; BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: center; FONT-FAMILY: Arial, Helvetica, Sans-Serif; BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold" colspan="2" nowrap="nowrap">Quoted prices in<br /> active markets</td> <td style="FONT-FAMILY: Arial, Helvetica, Sans-Serif; BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold" nowrap="nowrap"> </td> <td style="TEXT-ALIGN: center; FONT-FAMILY: Arial, Helvetica, Sans-Serif; BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold" colspan="2" nowrap="nowrap">Significant other<br /> observable inputs</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> (in thousands)</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2"> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold" colspan="2">(Level 1)</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold" colspan="2">(Level 2)</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> Fair Value at March 31, 2013</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-STYLE: italic; PADDING-LEFT: 5.4pt; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> Assets:</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; WIDTH: 46%; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> Cash equivalents</td> <td style="WIDTH: 2%; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="TEXT-ALIGN: right; WIDTH: 15%; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> $26,095</td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="WIDTH: 2%; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="TEXT-ALIGN: right; WIDTH: 15%; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> $26,095</td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="WIDTH: 2%; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="TEXT-ALIGN: right; WIDTH: 15%; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> $ -</td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> Common stock of foreign public company</td> <td style="FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> 543</td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> 543</td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> -</td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-STYLE: italic; PADDING-LEFT: 5.4pt; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> Liabilities:</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> Interest rate swap</td> <td style="FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> (4,261</td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> )</td> <td style="FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> -</td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> (4,261</td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> )</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 2pt solid; PADDING-LEFT: 5.4pt"> </td> <td style="BORDER-BOTTOM: black 2pt solid"> </td> <td style="BORDER-BOTTOM: black 2pt solid; TEXT-ALIGN: right"> </td> <td style="BORDER-BOTTOM: black 2pt solid; TEXT-ALIGN: left"> </td> <td style="BORDER-BOTTOM: black 2pt solid"> </td> <td style="BORDER-BOTTOM: black 2pt solid; TEXT-ALIGN: right"> </td> <td style="BORDER-BOTTOM: black 2pt solid; TEXT-ALIGN: left"> </td> <td style="BORDER-BOTTOM: black 2pt solid"> </td> <td style="BORDER-BOTTOM: black 2pt solid; TEXT-ALIGN: right"> </td> <td style="BORDER-BOTTOM: black 2pt solid; TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> Fair Value at December 31, 2012</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-STYLE: italic; PADDING-LEFT: 5.4pt; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> Assets:</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> Cash equivalents</td> <td style="FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> $33,171</td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> $33,171</td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> $ -</td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> Common stock of foreign public company</td> <td style="FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> 562</td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> 562</td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> -</td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-STYLE: italic; PADDING-LEFT: 5.4pt; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> Liabilities:</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 2pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> Interest rate swap</td> <td style="BORDER-BOTTOM: black 2pt solid; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="BORDER-BOTTOM: black 2pt solid; TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> (4,718</td> <td style="BORDER-BOTTOM: black 2pt solid; TEXT-ALIGN: left; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> )</td> <td style="BORDER-BOTTOM: black 2pt solid; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="BORDER-BOTTOM: black 2pt solid; TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> -</td> <td style="BORDER-BOTTOM: black 2pt solid; TEXT-ALIGN: left; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="BORDER-BOTTOM: black 2pt solid; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="BORDER-BOTTOM: black 2pt solid; TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> (4,718</td> <td style="BORDER-BOTTOM: black 2pt solid; TEXT-ALIGN: left; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> )</td> </tr> </table> <p style="TEXT-INDENT: 0.5in; MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> During the three-months ended March 31, 2013, there were no transfers between levels 1, 2, and 3.</p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> Cash equivalents include short-term securities that are considered to be highly liquid and easily tradable. These securities are valued using inputs observable in active markets for identical securities.</p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> The common stock of a foreign public company is traded in an active market exchange. The shares are measured at fair value using closing stock prices and are recorded in the Consolidated Balance Sheets as Other assets. The securities are classified as available for sale, and as a result any gain or loss is recorded in the Shareholders' Equity section of the Consolidated Balance Sheets rather than in the Consolidated Statements of Income. When the security is sold or impaired, gains and losses are reported on the Consolidated Statements of Income. Investments are considered to be impaired when a decline in fair value is judged to be other than temporary.</p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> Foreign currency instruments are entered into periodically, and consist of foreign currency option contracts and forward contracts that are valued using quoted prices in active markets obtained from independent pricing sources. These instruments are measured using market foreign exchange prices and are recorded in the Consolidated Balance Sheets as Other current assets and Accounts payable, as applicable. Changes in fair value of these instruments are recorded as gains or losses within Other (income)/expense, there were no open contracts and no gains/(losses) for the three months ended March 31, 2013. Gains for the three months ended March 31, 2012 were negligible.</p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> When exercised, the foreign currency instruments are net settled with the same financial institution that bought or sold them. For all positions, whether options or forward contracts, there is risk from the possible inability of the financial institution to meet the terms of the contracts and the risk of unfavorable changes in interest and currency rates, which may reduce the value of the instruments. We seek to control risk by evaluating the creditworthiness of counterparties and by monitoring the currency exchange and interest rate markets while reviewing the hedging risks and contracts to ensure compliance with our internal guidelines and policies.</p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> We operate our business in many regions of the world, and currency rate movements can have a significant effect on operating results.</p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> Changes in exchange rates can result in revaluation gains and losses that are recorded in Selling, General, Technical, Product Engineering, and Research expenses or Other income/expense, net. Revaluation gains and losses occur when our business units have intercompany or third-party trade receivable or payable balances in a currency other than their local reporting (or functional) currency.</p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> Operating results can also be affected by the translation of sales and costs, for each non-U.S. subsidiary, from the local functional currency to the U.S. dollar. The translation effect on the income statement is dependent on our net income or expense position in each non-U.S. currency in which we do business. A net income position exists when sales realized in a particular currency exceed expenses paid in that currency; a net expense position exists if the opposite is true.</p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> In order to mitigate foreign exchange volatility in the financial statements, we periodically enter into foreign currency financial instruments from time to time. There were no foreign currency financial instruments designated as hedging instruments at March 31, 2013.</p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> As described in Note 13 of the Notes to Consolidated Financial Statements, on March 26, 2013, we entered into a $330 million unsecured five-year revolving credit facility agreement, <font style="COLOR: black">which replaces the previous $390 million five-year facility agreement made in 2010</font>. The applicable interest rate for borrowings under the agreement is LIBOR plus a spread, based on our leverage ratio at the time of borrowing. Interest rate changes on this variable rate debt cause changes in cash flows, and in order to mitigate this cash flow risk we have fixed a portion of the effective interest rate on part of the indebtedness drawn under the agreement by entering into interest rate hedging transactions on July 16, 2010. This interest rate swap locked in our interest rate on the forecasted outstanding borrowings of $105 million at 2.04% plus the credit spread on the debt for a five year period. The credit spread is based on the pricing grid, which can go as low as 2.0% or as high as 2.75%, based on our leverage ratio.</p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> The interest rate swap is accounted for as a hedge of future cash flows. The fair value of our interest rate swap is derived from a discounted cash flow analysis based on the terms of the contract and the interest rate curve, and is included in Other noncurrent liabilities in the Consolidated Balance Sheet. As of March 31, 2013, we reported a liability of $4.3 million, which is comprised of a liability of $5.4 million for the fixed rate leg, and a receivable of $1.1 million for the floating rate leg. Unrealized gains and losses on the swap will flow through the caption Derivative valuation adjustment in the Shareholders' equity section of the Consolidated Balance Sheets, to the extent that the hedge is highly effective. Gains and losses related to the ineffective portion of the hedge will be recognized in the current period in earnings. Amounts accumulated in Other comprehensive income are reclassified as Interest expense, net when the related interest payments (that is, the hedged forecasted transactions) affect earnings. Interest expense related to the swap totaled $0.5 million and $0.4 million for the three months ended March 31, 2013 and 2012, respectively.</p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> Fair value amounts of derivative instruments were as follows:</p> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Calibri, Helvetica, Sans-Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-TOP: windowtext 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; WIDTH: 55%" nowrap="nowrap">(in thousands)</td> <td style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-TOP: windowtext 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: center; WIDTH: 16%"> Balance<br /> sheet caption</td> <td style="BORDER-BOTTOM: windowtext 1pt solid; TEXT-ALIGN: center; PADDING-LEFT: 5.4pt; WIDTH: 1%; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid"> </td> <td style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-TOP: windowtext 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom; WIDTH: 14%"> <strong>March 31,<br /> 2013</strong></td> <td style="BORDER-BOTTOM: windowtext 1pt solid; TEXT-ALIGN: center; PADDING-LEFT: 5.4pt; WIDTH: 1%; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid"> </td> <td style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-TOP: windowtext 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom; WIDTH: 13%"> December<br /> 31, 2012</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap"> </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap"> </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap"> </td> <td style="TEXT-ALIGN: center; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; VERTICAL-ALIGN: bottom" nowrap="nowrap"> </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap"> </td> <td style="TEXT-ALIGN: center; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; VERTICAL-ALIGN: bottom" nowrap="nowrap"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap"><strong>Liability Derivatives</strong></td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap"> </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap"> </td> <td style="TEXT-ALIGN: center; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; VERTICAL-ALIGN: bottom" nowrap="nowrap"> </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap"> </td> <td style="TEXT-ALIGN: center; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; VERTICAL-ALIGN: bottom" nowrap="nowrap"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt"> Derivatives designated as hedging instruments:</td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap"> </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap"> </td> <td style="TEXT-ALIGN: center; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; VERTICAL-ALIGN: bottom" nowrap="nowrap"> </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap"> </td> <td style="TEXT-ALIGN: center; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; VERTICAL-ALIGN: bottom" nowrap="nowrap"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap">Interest rate swap</td> <td style="FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt"> Other noncurrent liabilities</td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap"> </td> <td style="FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom" nowrap="nowrap"><strong>($4,261)</strong></td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap"> </td> <td style="FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom" nowrap="nowrap">($4,718)</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-TOP: windowtext 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt"> Total liability derivatives</td> <td style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid" nowrap="nowrap"> </td> <td style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid" nowrap="nowrap"> </td> <td style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-TOP: windowtext 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom" nowrap="nowrap"><strong>($4,261)</strong></td> <td style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid" nowrap="nowrap"> </td> <td style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-TOP: windowtext 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom" nowrap="nowrap">($4,718)</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap"> </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap"> </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap"> </td> <td style="TEXT-ALIGN: center; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; VERTICAL-ALIGN: bottom" nowrap="nowrap"> </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap"> </td> <td style="TEXT-ALIGN: center; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; VERTICAL-ALIGN: bottom" nowrap="nowrap"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-TOP: windowtext 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap">Total derivatives</td> <td style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid" nowrap="nowrap"> </td> <td style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid" nowrap="nowrap"> </td> <td style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-TOP: windowtext 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom" nowrap="nowrap"><strong>($4,261)</strong></td> <td style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid" nowrap="nowrap"> </td> <td style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-TOP: windowtext 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom" nowrap="nowrap">($4,718)</td> </tr> </table> <p style="TEXT-INDENT: 0.5in; MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> <p style="TEXT-INDENT: 0.5in; MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> Gains/(losses) on changes in fair value of derivative instruments were as follows:</p> <p style="TEXT-INDENT: 0.5in; MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Calibri, Helvetica, Sans-Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid" nowrap="nowrap"> </td> <td style="BORDER-TOP: windowtext 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom" colspan="3" nowrap="nowrap">Three months ended March 31,</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: windowtext 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; WIDTH: 66%" nowrap="nowrap">(in thousands)</td> <td style="BORDER-BOTTOM: windowtext 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom; WIDTH: 15%" nowrap="nowrap"><strong>2013</strong></td> <td style="BORDER-BOTTOM: windowtext 1pt solid; TEXT-ALIGN: center; PADDING-LEFT: 5.4pt; WIDTH: 1%; PADDING-RIGHT: 5.4pt; VERTICAL-ALIGN: bottom" nowrap="nowrap"> </td> <td style="BORDER-BOTTOM: windowtext 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom; WIDTH: 18%" nowrap="nowrap">2012</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap"> </td> <td style="TEXT-ALIGN: center; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; VERTICAL-ALIGN: bottom" nowrap="nowrap"> </td> <td style="TEXT-ALIGN: center; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; VERTICAL-ALIGN: bottom" nowrap="nowrap"> </td> <td style="TEXT-ALIGN: center; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; VERTICAL-ALIGN: bottom" nowrap="nowrap"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt"> Derivatives designated as hedging instruments</td> <td style="TEXT-ALIGN: center; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; VERTICAL-ALIGN: bottom" nowrap="nowrap"> </td> <td style="TEXT-ALIGN: center; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; VERTICAL-ALIGN: bottom" nowrap="nowrap"> </td> <td style="TEXT-ALIGN: center; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; VERTICAL-ALIGN: bottom" nowrap="nowrap"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt"> Interest rate swap <sup>1</sup></td> <td style="TEXT-ALIGN: center; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; VERTICAL-ALIGN: bottom" nowrap="nowrap"><font style="FONT: 10pt Arial, Helvetica, Sans-Serif"><strong>$279</strong></font> </td> <td style="TEXT-ALIGN: center; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; VERTICAL-ALIGN: bottom" nowrap="nowrap"> </td> <td style="FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom" nowrap="nowrap">($211)</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt"> Derivatives not designated as hedging instruments</td> <td style="TEXT-ALIGN: center; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; VERTICAL-ALIGN: bottom" nowrap="nowrap"> </td> <td style="TEXT-ALIGN: center; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; VERTICAL-ALIGN: bottom" nowrap="nowrap"> </td> <td style="TEXT-ALIGN: center; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; VERTICAL-ALIGN: bottom" nowrap="nowrap"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: windowtext 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap">Forward exchange options <sup>2</sup></td> <td style="BORDER-BOTTOM: windowtext 1pt solid; TEXT-ALIGN: center; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; VERTICAL-ALIGN: bottom" nowrap="nowrap"><font style="FONT: 10pt Arial, Helvetica, Sans-Serif"><strong>-</strong></font> </td> <td style="BORDER-BOTTOM: windowtext 1pt solid; TEXT-ALIGN: center; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; VERTICAL-ALIGN: bottom" nowrap="nowrap"> </td> <td style="BORDER-BOTTOM: windowtext 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom" nowrap="nowrap">(1)</td> </tr> </table> <p style="TEXT-INDENT: 0.5in; MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> <p style="TEXT-INDENT: 0.5in; MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> <table style="MARGIN-TOP: 0px; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: top"> <td style="TEXT-ALIGN: right; WIDTH: 36pt">1</td> <td style="WIDTH: 4pt"> </td> <td>Unrealized losses are recognized in Other comprehensive income, net of tax. This derivative was a 100% effective hedge of interest rate cash flow risk for the quarter ended March 31, 2013.</td> </tr> </table> <p style="TEXT-INDENT: -1in; MARGIN: 0pt 0px 0pt 1.5in; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> <table style="MARGIN-TOP: 0px; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: top"> <td style="TEXT-ALIGN: right; WIDTH: 36pt">2</td> <td style="WIDTH: 4pt"> </td> <td>Gains/(losses) are recognized in Other expense, net.</td> </tr> </table> <!--EndFragment--></div> </div>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> The following table presents the fair-value hierarchy for our financial assets and liabilities measured at fair value on a recurring basis:</p> <p style="TEXT-INDENT: 0.5in; MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Calibri, Helvetica, Sans-Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-TOP: black 1pt solid"> </td> <td style="FONT-FAMILY: Arial, Helvetica, Sans-Serif; BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: center; FONT-FAMILY: Arial, Helvetica, Sans-Serif; BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold" colspan="2" nowrap="nowrap">Total fair value</td> <td style="FONT-FAMILY: Arial, Helvetica, Sans-Serif; BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: center; FONT-FAMILY: Arial, Helvetica, Sans-Serif; BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold" colspan="2" nowrap="nowrap">Quoted prices in<br /> active markets</td> <td style="FONT-FAMILY: Arial, Helvetica, Sans-Serif; BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold" nowrap="nowrap"> </td> <td style="TEXT-ALIGN: center; FONT-FAMILY: Arial, Helvetica, Sans-Serif; BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold" colspan="2" nowrap="nowrap">Significant other<br /> observable inputs</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> (in thousands)</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2"> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold" colspan="2">(Level 1)</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold" colspan="2">(Level 2)</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> Fair Value at March 31, 2013</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-STYLE: italic; PADDING-LEFT: 5.4pt; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> Assets:</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; WIDTH: 46%; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> Cash equivalents</td> <td style="WIDTH: 2%; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="TEXT-ALIGN: right; WIDTH: 15%; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> $26,095</td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="WIDTH: 2%; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="TEXT-ALIGN: right; WIDTH: 15%; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> $26,095</td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="WIDTH: 2%; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="TEXT-ALIGN: right; WIDTH: 15%; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> $ -</td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> Common stock of foreign public company</td> <td style="FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> 543</td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> 543</td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> -</td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-STYLE: italic; PADDING-LEFT: 5.4pt; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> Liabilities:</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> Interest rate swap</td> <td style="FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> (4,261</td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> )</td> <td style="FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> -</td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> (4,261</td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> )</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 2pt solid; PADDING-LEFT: 5.4pt"> </td> <td style="BORDER-BOTTOM: black 2pt solid"> </td> <td style="BORDER-BOTTOM: black 2pt solid; TEXT-ALIGN: right"> </td> <td style="BORDER-BOTTOM: black 2pt solid; TEXT-ALIGN: left"> </td> <td style="BORDER-BOTTOM: black 2pt solid"> </td> <td style="BORDER-BOTTOM: black 2pt solid; TEXT-ALIGN: right"> </td> <td style="BORDER-BOTTOM: black 2pt solid; TEXT-ALIGN: left"> </td> <td style="BORDER-BOTTOM: black 2pt solid"> </td> <td style="BORDER-BOTTOM: black 2pt solid; TEXT-ALIGN: right"> </td> <td style="BORDER-BOTTOM: black 2pt solid; TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> Fair Value at December 31, 2012</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-STYLE: italic; PADDING-LEFT: 5.4pt; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> Assets:</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> Cash equivalents</td> <td style="FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> $33,171</td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> $33,171</td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> $ -</td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> Common stock of foreign public company</td> <td style="FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> 562</td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> 562</td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> -</td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-STYLE: italic; PADDING-LEFT: 5.4pt; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> Liabilities:</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 2pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> Interest rate swap</td> <td style="BORDER-BOTTOM: black 2pt solid; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="BORDER-BOTTOM: black 2pt solid; TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> (4,718</td> <td style="BORDER-BOTTOM: black 2pt solid; TEXT-ALIGN: left; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> )</td> <td style="BORDER-BOTTOM: black 2pt solid; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="BORDER-BOTTOM: black 2pt solid; TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> -</td> <td style="BORDER-BOTTOM: black 2pt solid; TEXT-ALIGN: left; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="BORDER-BOTTOM: black 2pt solid; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="BORDER-BOTTOM: black 2pt solid; TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> (4,718</td> <td style="BORDER-BOTTOM: black 2pt solid; TEXT-ALIGN: left; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> )</td> </tr> </table> <!--EndFragment--></div> </div>
231000
29000
29000
231000
231000
37000
38000
555000
606000
198000
204000
790000
848000
3763000
57968000
74876000
76522000
74900000
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 0px; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> <strong><em>12. Goodwill and Other Intangible Assets</em></strong></p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> Goodwill and intangible assets with indefinite useful lives are not amortized, but are tested for impairment at least annually. Goodwill represents the excess of the purchase price over the fair value of the net tangible and identifiable intangible assets acquired in each business combination. Our reporting units are consistent with our operating segments.</p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> Determining the fair value of a reporting unit requires the use of significant estimates and assumptions, including revenue growth rates, operating margins, discount rates, and future market conditions, among others. Goodwill and other long-lived assets are reviewed for impairment whenever events, such as significant changes in the business climate, plant closures, changes in product offerings, or other circumstances indicate that the carrying amount may not be recoverable.</p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> To determine fair value, we utilize two market-based approaches and an income approach. Under the market-based approaches, we utilize information regarding the Company as well as publicly available industry information to determine earnings multiples and sales multiples. Under the income approach, we determine fair value based on estimated future cash flows of each reporting unit, discounted by an estimated weighted-average cost of capital, which reflects the overall level of inherent risk of a reporting unit and the rate of return an outside investor would expect to earn.</p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> The entire balance of goodwill on our books is attributable to the Machine Clothing business. In the second quarter of 2012 the Company applied the qualitative assessment approach in performing its annual evaluation of goodwill and concluded that no impairment provision was required. In addition, there were no amounts at risk due to the large spread between the fair and carrying values.</p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> We are continuing to amortize certain patents, trade names, customer contracts and technology assets that have finite lives. The changes in intangible assets and goodwill from December 31, 2012 to March 31, 2013, were as follows:</p> <p style="TEXT-INDENT: 0.5in; MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Arial, Helvetica, Sans-Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-TOP: black 1pt solid"> </td> <td style="BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold" colspan="2">Balance at</td> <td style="BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: center; BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold" colspan="2"> </td> <td style="BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold" colspan="2">Currency</td> <td style="BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold" colspan="2">Balance at</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold">(in thousands)</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold" colspan="2" nowrap="nowrap">December 31, 2012</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">Amortization</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold" colspan="2">Translation</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold" colspan="2" nowrap="nowrap">March 31, 2013</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt">Amortized intangible assets:</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; WIDTH: 40%">AEC trade names</td> <td style="WIDTH: 3%"> </td> <td style="TEXT-ALIGN: right; WIDTH: 11%">$38</td> <td style="TEXT-ALIGN: left; WIDTH: 1%"> </td> <td style="WIDTH: 3%"> </td> <td style="TEXT-ALIGN: right; WIDTH: 11%">($1</td> <td style="TEXT-ALIGN: left; WIDTH: 1%">)</td> <td style="WIDTH: 3%"> </td> <td style="TEXT-ALIGN: right; WIDTH: 11%">$ -</td> <td style="TEXT-ALIGN: left; WIDTH: 1%"> </td> <td style="WIDTH: 3%"> </td> <td style="TEXT-ALIGN: right; WIDTH: 11%">$37</td> <td style="TEXT-ALIGN: left; WIDTH: 1%"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt">AEC customer contracts</td> <td> </td> <td style="TEXT-ALIGN: right">606</td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">(51</td> <td style="TEXT-ALIGN: left">)</td> <td> </td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">555</td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt"> AEC technology</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 204</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (6</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">)</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> -</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 198</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt"> Total amortized intangible assets</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> $848</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> ($58</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">)</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">$ -</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> $790</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt">Unamortized intangible assets:</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 5.4pt"> Goodwill</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> $76,522</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">$ -</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> ($1,646</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">)</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> $74,876</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> </tr> </table> <p style="TEXT-INDENT: 0.5in; MARGIN: 0pt 0px 0pt 0.5in; FONT: 11pt Calibri, Helvetica, Sans-Serif"> </p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 0px; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> As of March 31, 2013, the balance of goodwill was $74.9 million and was completely attributable to our Machine Clothing reportable segment.</p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 0px; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> Estimated amortization expense of intangibles for the years ending December 31, 2013 through 2017, is as follows:</p> <p style="MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> <table style="WIDTH: 40%; BORDER-COLLAPSE: collapse; FONT: 10pt Arial, Helvetica, Sans-Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom; BORDER-TOP: black 1pt solid" colspan="2"> </td> <td style="BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold" colspan="2" nowrap="nowrap">Annual amortization</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold" colspan="2">Year</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold" colspan="2">(in thousands)</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: center; WIDTH: 35%; VERTICAL-ALIGN: bottom"> 2013</td> <td style="TEXT-ALIGN: center; WIDTH: 1%; VERTICAL-ALIGN: bottom"> </td> <td style="WIDTH: 19%"> </td> <td style="TEXT-ALIGN: right; WIDTH: 46%">$231</td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom">2014</td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> </td> <td> </td> <td style="TEXT-ALIGN: right">231</td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom">2015</td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> </td> <td> </td> <td style="TEXT-ALIGN: right">231</td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom">2016</td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> </td> <td> </td> <td style="TEXT-ALIGN: right">29</td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> 2017</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 29</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> </tr> </table> <!--EndFragment--></div> </div>
-1646000
72769000
68286000
44000
-477000
11511000
-129000
0.37
0.00
0.36
0.00
47170000
0.00
1.50
0.00
1.49
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 0px; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> <strong><em>7. Income Taxes</em></strong></p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> The following table presents components of income tax expense/(benefit) for the three month period ended March 31, 2013 and 2012:</p> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Arial, Helvetica, Sans-Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-TOP: black 1pt solid"> </td> <td style="BORDER-TOP: black 1pt solid"> </td> <td style="TEXT-ALIGN: center; BORDER-TOP: black 1pt solid" colspan="5">Three months ended March 31,</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold">(in thousands)</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold" colspan="2">2013</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold" colspan="2">2012</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td> </td> <td> </td> <td colspan="2"> </td> <td> </td> <td colspan="2"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; WIDTH: 56%"> Income tax based on income from continuing operations, at estimated tax rates of 34.0% and (6.5%), respectively</td> <td style="WIDTH: 13%; FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; WIDTH: 8%; FONT-WEIGHT: bold"> $6,038</td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-WEIGHT: bold"> </td> <td style="WIDTH: 12%; FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; WIDTH: 9%; FONT-WEIGHT: bold">$ 60</td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-WEIGHT: bold"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt">Pension plan settlement</td> <td style="FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; FONT-WEIGHT: bold">-</td> <td style="TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> <td style="FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; FONT-WEIGHT: bold">(3,299</td> <td style="TEXT-ALIGN: left; FONT-WEIGHT: bold">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 5.4pt"> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt">Income tax before discrete items</td> <td style="FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; FONT-WEIGHT: bold">6,038</td> <td style="TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> <td style="FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; FONT-WEIGHT: bold">(3,239</td> <td style="TEXT-ALIGN: left; FONT-WEIGHT: bold">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt">Discrete tax expense/(benefit):</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt">Provision for/resolution of tax audits and contingencies, net</td> <td style="FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; FONT-WEIGHT: bold">-</td> <td style="TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> <td style="FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; FONT-WEIGHT: bold">(6,733</td> <td style="TEXT-ALIGN: left; FONT-WEIGHT: bold">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt"> Adjustments to prior period tax liabilities</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold"> 210</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold"> -</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt"> Total income tax expense/(benefit)</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold"> $6,248</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold"> $(9,972</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-WEIGHT: bold"> )</td> </tr> </table> <p style="MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> The first quarter estimated effective tax rate on continuing operations was 34.0 percent in 2013, as compared to (6.5) percent for the same period in 2012. The change in the estimated effective tax rate was primarily attributable to the amount and distribution of income and loss among the countries in which we operate. The 2012 first quarter tax rate was also impacted by operating losses generated in tax jurisdictions where no tax benefit was recognized.</p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> The Company records the residual U.S. and foreign taxes on certain amounts of current foreign earnings that have been targeted for repatriation to the U.S. As a result, such amounts are not considered to be permanently reinvested, and the Company accrued for the residual taxes on these earnings to the extent they cannot be repatriated in a tax-free manner. At March 31, 2013 the Company reported a deferred tax liability of $1.5 million on $19.4 million of non-U.S. earnings that have been targeted for future repatriation to the U.S.</p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> We conduct business globally and, as a result, the Company or one or more of our subsidiaries files income tax returns in the U.S. federal jurisdiction and various state and foreign jurisdictions. In the normal course of business we are subject to examination by taxing authorities throughout the world, including major jurisdictions as the United States, Brazil, Canada, France, Germany, Italy, Mexico, and Switzerland. Open tax years in these jurisdictions range from 2000 to 2012. We are currently under audit in the U.S. and non-U.S. tax jurisdictions, including but not limited to Canada, Germany, and France.</p> <p style="TEXT-INDENT: 0.5in; MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> It is reasonably possible that over the next twelve months the amount of unrecognized tax benefits may change within a range of a net increase of $0 million to a net decrease of $0.8 million, from the reevaluation of uncertain tax positions arising in examinations, in appeals, or in the courts, or from the closure of tax statutes. Not included in the range is $22.3 million of tax benefits in Germany related to a 1999 reorganization that have been challenged by the German tax authorities in the course of an audit, of which $11.4 million would have a direct impact on our statement of income if resolved unfavorably. In 2008 the German Federal Tax Court (FTC) denied tax benefits to other taxpayers in a case involving German tax laws relevant to our reorganization. One of these cases involved a non-German party, and in the ruling in that case, the FTC acknowledged that the German law in question may be violative of European Union (EU) principles and referred the issue to the European Court of Justice (ECJ) for its determination on this issue. In September 2009, the ECJ issued an opinion in this case that is generally favorable to the other taxpayer and referred the case back to the FTC for further consideration. In May 2010 the FTC released its decision, in which it resolved certain tax issues that may be relevant to our audit and remanded the case to a lower court for further development. In 2012, the lower court decided in favor of the taxpayer and the government appealed the findings to the FTC. Although we were required to pay tax and interest of approximately $12.8 million to the German tax authorities in order to continue to pursue the position; when taking into consideration the ECJ decision, the latest FTC decision and the lower court decision, we believe that it is more likely than not that the relevant German law is violative of EU principles and accordingly we have not accrued tax expense on this matter. As we continue to monitor developments, it may become necessary for us to accrue tax expense and related interest.</p> <!--EndFragment--></div> </div>
-270000
6248000
-9972000
6038000
60000
210000
5400000
-6733000
547000
6174000
1723000
-3368000
-8983000
-1815000
-5318000
1956000
-152000
-6560000
2988000
3912000
438000
383000
3577000
1616000
790000
848000
4324000
4728000
500000
400000
-4025000
-4644000
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 0px; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> <strong><em>11. Inventories</em></strong></p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> The components of Inventories are summarized below:</p> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Arial, Helvetica, Sans-Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold"> (in thousands)</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold" colspan="2">March 31,<br /> 2013</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold" colspan="2">December 31, 2012</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; WIDTH: 56%"> Finished goods</td> <td style="WIDTH: 8%; FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; WIDTH: 13%; FONT-WEIGHT: bold"> $49,067</td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-WEIGHT: bold"> </td> <td style="WIDTH: 8%"> </td> <td style="TEXT-ALIGN: right; WIDTH: 13%">$49,235</td> <td style="TEXT-ALIGN: left; WIDTH: 1%"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt">Work in process</td> <td style="FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; FONT-WEIGHT: bold">45,945</td> <td style="TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> <td> </td> <td style="TEXT-ALIGN: right">44,866</td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt"> Raw material and supplies</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold"> 26,020</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 25,082</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-LEFT: 5.4pt; TEXT-ALIGN: left"> Total inventories</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold"> $121,032</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> $119,183</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> </tr> </table> <p style="MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> Inventories are stated at the lower of cost or market and are valued at average cost, net of reserves. We record a provision for obsolete inventory based on the age and category of the inventories.</p> <!--EndFragment--></div> </div>
49067000
49235000
121032000
119183000
26020000
25082000
45945000
44866000
299000
84000
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 0px; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> <strong><em>15. Contingencies</em></strong></p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 0px; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> <strong>Asbestos Litigation</strong></p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> Albany International Corp. is a defendant in suits brought in various courts in the United States by plaintiffs who allege that they have suffered personal injury as a result of exposure to asbestos-containing products that we previously manufactured. We produced asbestos-containing paper machine clothing synthetic dryer fabrics marketed during the period from 1967 to 1976 and used in certain paper mills. Such fabrics generally had a useful life of three to twelve months.</p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> We were defending 4,296 claims as of April 19, 2013.</p> <p style="TEXT-INDENT: 0.5in; MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> The following table sets forth the number of claims filed, the number of claims settled, dismissed or otherwise resolved, and the aggregate settlement amount during the periods presented:</p> <p style="TEXT-INDENT: 0.5in; MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Calibri, Helvetica, Sans-Serif" cellspacing="0" cellpadding="2"> <tr style="VERTICAL-ALIGN: top"> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; BORDER-RIGHT: black 1pt solid; BORDER-TOP: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in; WIDTH: 16%" nowrap="nowrap"><em>Year ended<br /> December 31,</em></td> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 5.4pt; WIDTH: 16%; PADDING-RIGHT: 5.4pt; BORDER-TOP: black 1pt solid; BORDER-RIGHT: black 1pt solid" nowrap="nowrap"> <p style="TEXT-ALIGN: right; TEXT-INDENT: -0.25in; MARGIN: 0pt 0px 0pt 0.25in; FONT: 10pt Arial, Helvetica, Sans-Serif"> <em>Opening<br /> Number of Claims</em></p> <p style="TEXT-ALIGN: right; TEXT-INDENT: -0.25in; MARGIN: 0pt 0px 0pt 0.25in; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> <p style="TEXT-ALIGN: right; TEXT-INDENT: -0.25in; MARGIN: 0pt 0px 0pt 0.25in; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> <p style="TEXT-ALIGN: right; TEXT-INDENT: -0.25in; MARGIN: 0pt 0px 0pt 0.25in; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> </td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; BORDER-TOP: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in; WIDTH: 18%" nowrap="nowrap"><em>Claims Dismissed,<br /> Settled, or Resolved</em></td> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 5.4pt; WIDTH: 14%; PADDING-RIGHT: 5.4pt; BORDER-TOP: black 1pt solid; BORDER-RIGHT: black 1pt solid" nowrap="nowrap"> <p style="TEXT-ALIGN: right; TEXT-INDENT: -0.25in; MARGIN: 0pt 0px 0pt 0.25in; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> <p style="TEXT-ALIGN: right; TEXT-INDENT: -0.25in; MARGIN: 0pt 0px 0pt 0.25in; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> <p style="TEXT-ALIGN: right; TEXT-INDENT: -0.25in; MARGIN: 0pt 0px 0pt 0.25in; FONT: 10pt Arial, Helvetica, Sans-Serif"> <em>New Claims</em></p> <p style="TEXT-ALIGN: right; TEXT-INDENT: -0.25in; MARGIN: 0pt 0px 0pt 0.25in; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> </td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; BORDER-TOP: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in; WIDTH: 13%" nowrap="nowrap"><em>Closing<br /> Number<br /> of Claims</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; BORDER-TOP: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 0.05in; TEXT-ALIGN: right; TEXT-INDENT: -0.25in; WIDTH: 23%" nowrap="nowrap"><em>Amounts Paid<br /> (thousands) to<br /> Settle or<br /> Resolve</em></td> </tr> <tr style="VERTICAL-ALIGN: top"> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>2005</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>29,411</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>6,257</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>1,297</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>24,451</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>$ 504</em></td> </tr> <tr style="VERTICAL-ALIGN: top"> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>2006</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>24,451</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>6,841</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>1,806</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>19,416</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>3,879</em></td> </tr> <tr style="VERTICAL-ALIGN: top"> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>2007</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>19,416</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>808</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>190</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>18,798</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>15</em></td> </tr> <tr style="VERTICAL-ALIGN: top"> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; PADDING-BOTTOM: 10pt; TEXT-INDENT: -0.25in; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; BORDER-RIGHT: black 1pt solid" nowrap="nowrap"><font style="FONT: 10pt Arial, Helvetica, Sans-Serif"><em>2008</em></font> </td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>18,798</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>523</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>110</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>18,385</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>52</em></td> </tr> <tr style="VERTICAL-ALIGN: top"> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>2009</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>18,385</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>9,482</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>42</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>8,945</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>88</em></td> </tr> <tr style="VERTICAL-ALIGN: top"> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>2010</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>8,945</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>3,963</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>188</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>5,170</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>159</em></td> </tr> <tr style="VERTICAL-ALIGN: top"> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>2011</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>5,170</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>789</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>65</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>4,446</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>1,111</em></td> </tr> <tr style="VERTICAL-ALIGN: top"> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; PADDING-BOTTOM: 10pt; TEXT-INDENT: -0.25in; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; BORDER-RIGHT: black 1pt solid" nowrap="nowrap"><font style="FONT: 10pt Arial, Helvetica, Sans-Serif"><em>2012</em></font> </td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>4,446</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>90</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>107</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>4,463</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>530</em></td> </tr> <tr style="VERTICAL-ALIGN: top"> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-INDENT: -0.25in" nowrap="nowrap"><strong><em>2013</em></strong></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><strong><em>4,463</em></strong></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><strong><em>197</em></strong></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><strong><em>30</em></strong></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><strong><em>4,296</em></strong></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><strong><em>0</em></strong></td> </tr> </table> <p style="MARGIN: 0pt 0px; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> We anticipate that additional claims will be filed against the Company and related companies in the future, but are unable to predict the number and timing of such future claims.</p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> Exposure and disease information sufficient to meaningfully estimate a range of possible loss of a particular claim is typically not available until late in the discovery process, and often not until a trial date is imminent and a settlement demand has been received. For these reasons, we do not believe a meaningful estimate can be made regarding the range of possible loss with respect to pending or future claims.</p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> While we believe we have meritorious defenses to these claims, we have settled certain claims for amounts we consider reasonable given the facts and circumstances of each case. Our insurer, Liberty Mutual, has defended each case and funded settlements under a standard reservation of rights. As of April 19, 2013, we had resolved, by means of settlement or dismissal, 36,567 claims. The total cost of resolving all claims was $8.6 million. Of this amount, almost 100% was paid by our insurance carrier. The Company has over $125 million in confirmed insurance coverage that should be available with respect to current and future asbestos claims, as well as additional insurance coverage that we should be able to access.</p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> Brandon Drying Fabrics, Inc. ("Brandon"), a subsidiary of Geschmay Corp., which is a subsidiary of the Company, is also a separate defendant in many of the asbestos cases in which Albany is named as a defendant. Brandon was defending against 7,866 claims as of April 19, 2013.</p> <p style="TEXT-INDENT: 0.5in; MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> The following table sets forth the number of claims filed, the number of claims settled, dismissed or otherwise resolved, and the aggregate settlement amount during the periods presented:</p> <p style="TEXT-INDENT: 0.5in; MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Calibri, Helvetica, Sans-Serif" cellspacing="0" cellpadding="2"> <tr style="VERTICAL-ALIGN: top"> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; BORDER-RIGHT: black 1pt solid; BORDER-TOP: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in; WIDTH: 15%" nowrap="nowrap"><em>Year ended<br /> December 31,</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; BORDER-TOP: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in; WIDTH: 16%" nowrap="nowrap"><em>Opening<br /> Number of Claims</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; BORDER-TOP: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in; WIDTH: 17%" nowrap="nowrap"><em>Claims Dismissed,<br /> Settled, or Resolved</em></td> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 5.4pt; WIDTH: 13%; PADDING-RIGHT: 5.4pt; BORDER-TOP: black 1pt solid; BORDER-RIGHT: black 1pt solid" nowrap="nowrap"> <p style="TEXT-ALIGN: right; TEXT-INDENT: -0.25in; MARGIN: 0pt 0px 0pt 0.25in; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> <p style="TEXT-ALIGN: right; TEXT-INDENT: -0.25in; MARGIN: 0pt 0px 0pt 0.25in; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> <p style="TEXT-ALIGN: right; TEXT-INDENT: -0.25in; MARGIN: 0pt 0px 0pt 0.25in; FONT: 10pt Arial, Helvetica, Sans-Serif"> <em>New Claims</em></p> <p style="TEXT-ALIGN: right; TEXT-INDENT: -0.25in; MARGIN: 0pt 0px 0pt 0.25in; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> </td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; BORDER-TOP: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in; WIDTH: 15%" nowrap="nowrap"><em>Closing<br /> Number of Claims</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; BORDER-TOP: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 0.05in; TEXT-ALIGN: right; TEXT-INDENT: -0.25in; WIDTH: 24%" nowrap="nowrap"><em>Amounts Paid<br /> (thousands) to<br /> Settle or<br /> Resolve</em></td> </tr> <tr style="VERTICAL-ALIGN: top"> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>2005</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>9,985</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>642</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>223</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>9,566</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>$ 0</em></td> </tr> <tr style="VERTICAL-ALIGN: top"> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>2006</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>9,566</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>1,182</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>730</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>9,114</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>0</em></td> </tr> <tr style="VERTICAL-ALIGN: top"> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>2007</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>9,114</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>462</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>88</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>8,740</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>0</em></td> </tr> <tr style="VERTICAL-ALIGN: top"> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>2008</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>8,740</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>86</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>10</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>8,664</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>0</em></td> </tr> <tr style="VERTICAL-ALIGN: top"> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; PADDING-BOTTOM: 10pt; TEXT-INDENT: -0.25in; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; BORDER-RIGHT: black 1pt solid" nowrap="nowrap"><font style="FONT: 10pt Arial, Helvetica, Sans-Serif"><em>2009</em></font> </td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>8,664</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>760</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>3</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>7,907</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>0</em></td> </tr> <tr style="VERTICAL-ALIGN: top"> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; PADDING-BOTTOM: 10pt; TEXT-INDENT: -0.25in; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; BORDER-RIGHT: black 1pt solid" nowrap="nowrap"><font style="FONT: 10pt Arial, Helvetica, Sans-Serif"><em>2010</em></font> </td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>7,907</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>47</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>9</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>7,869</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>0</em></td> </tr> <tr style="VERTICAL-ALIGN: top"> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; PADDING-BOTTOM: 10pt; TEXT-INDENT: -0.25in; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; BORDER-RIGHT: black 1pt solid" nowrap="nowrap"><font style="FONT: 10pt Arial, Helvetica, Sans-Serif"><em>2011</em></font> </td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>7,869</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>3</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>11</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>7,877</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>0</em></td> </tr> <tr style="VERTICAL-ALIGN: top"> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; PADDING-BOTTOM: 10pt; TEXT-INDENT: -0.25in; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; BORDER-RIGHT: black 1pt solid" nowrap="nowrap"><font style="FONT: 10pt Arial, Helvetica, Sans-Serif"><em>2012</em></font> </td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>7,877</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>12</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>2</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>7,867</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>0</em></td> </tr> <tr style="VERTICAL-ALIGN: top"> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-INDENT: -0.25in" nowrap="nowrap"><strong><em>2013</em></strong></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><strong><em>7,867</em></strong></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><strong><em>2</em></strong></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><strong><em>1</em></strong></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><strong><em>7,866</em></strong></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><strong><em>0</em></strong></td> </tr> </table> <p style="MARGIN: 0pt 0px; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> We acquired Geschmay Corp., formerly known as Wangner Systems Corporation, in 1999. Brandon is a wholly owned subsidiary of Geschmay Corp. In 1978, Brandon acquired certain assets from Abney Mills ("Abney"), a South Carolina textile manufacturer. Among the assets acquired by Brandon from Abney were assets of Abney's wholly owned subsidiary, Brandon Sales, Inc. which had sold, among other things, dryer fabrics containing asbestos made by its parent, Abney. Although Brandon manufactured and sold dryer fabrics under its own name subsequent to the asset purchase, none of such fabrics contained asbestos. Because Brandon did not manufacture asbestos-containing products, and because it does not believe that it was the legal successor to, or otherwise responsible for obligations of Abney with respect to products manufactured by Abney, it believes it has strong defenses to the claims that have been asserted against it. As of January 30, 2013, Brandon has resolved, by means of settlement or dismissal, 9,733 claims for a total of $0.2 million. Brandon's insurance carriers initially agreed to pay 88.2% of the total indemnification and defense costs related to these proceedings, subject to the standard reservation of rights. The remaining 11.8% of the costs had been borne directly by Brandon. During 2004, Brandon's insurance carriers agreed to cover 100% of indemnification and defense costs, subject to policy limits and the standard reservation of rights, and to reimburse Brandon for all indemnity and defense costs paid directly by Brandon related to these proceedings.</p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> For the same reasons set forth above with respect to Albany's claims, as well as the fact that no amounts have been paid to resolve any Brandon claims since 2001, we do not believe a meaningful estimate can be made regarding the range of possible loss with respect to these remaining claims.</p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> In some of these asbestos cases, the Company is named both as a direct defendant and as the "successor in interest" to Mount Vernon Mills ("Mount Vernon"). We acquired certain assets from Mount Vernon in 1993. Certain plaintiffs allege injury caused by asbestos-containing products alleged to have been sold by Mount Vernon many years prior to this acquisition. Mount Vernon is contractually obligated to indemnify the Company against any liability arising out of such products. We deny any liability for products sold by Mount Vernon prior to the acquisition of the Mount Vernon assets. Pursuant to its contractual indemnification obligations, Mount Vernon has assumed the defense of these claims. On this basis, we have successfully moved for dismissal in a number of actions.</p> <p style="TEXT-INDENT: 0.5in; MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> Although we do not believe, based on currently available information and for the reasons stated above, that a meaningful estimate of a range of possible loss can be made with respect to such claims, based on our understanding of the insurance policies available, how settlement amounts have been allocated to various policies, our settlement experience, the absence of any judgments against the Company or Brandon, the ratio of paper mill claims to total claims filed, and the defenses available, we currently do not anticipate any material liability relating to the resolution of the aforementioned pending proceedings in excess of existing insurance limits. Consequently, we currently do not anticipate, based on currently available information, that the ultimate resolution of the aforementioned proceedings will have a material adverse effect on the financial position, results of operations, or cash flows of the Company. Although we cannot predict the number and timing of future claims, based on the foregoing factors and the trends in claims against us to date, we do not anticipate that additional claims likely to be filed against us in the future will have a material adverse effect on our financial position, results of operations, or cash flows. We are aware that litigation is inherently uncertain, especially when the outcome is dependent primarily on determinations of factual matters to be made by juries.</p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 0px; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> <strong>NAFTA Audits</strong></p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> The Company's affiliate in Mexico was notified in November 2010 that Mexican customs authorities expected to issue demands for duties on certain imports of PMC from the Company and the Company's affiliate in Canada for which the Company has claimed duty-free treatment under the North American Free Trade Agreement ("NAFTA").</p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> The notices result from a decision by the Mexican Servicio de Administración Tributaria ("SAT") to invalidate NAFTA certificates provided by the Company on products shipped to its Mexican affiliate during the years 2006 through 2008. The Demand Notices arose from an SAT audit during 2010, at the conclusion of which the SAT determined that the Company had failed to provide documentation sufficient to show that the certificates were validly issued, and declared the certificates issued during this period to be invalid. The Company believes that the certificates of origin were valid and properly issued and therefore commenced administrative appeals with SAT disputing its resolutions.</p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> As a result of the aforementioned appeals, SAT ultimately revoked its earlier declarations of invalidation with respect to the certificates of origin at issue in all 36 open audit files, and ordered a further review of such certificates. The Company has been informed that review of 28 of the 36 audit files has been completed, and that a small number of shipments have been determined to be ineligible for duty-free NAFTA treatment, primarily due to some alternative raw material that was sourced from Europe during a brief period when sufficient U.S.-sourced material was temporarily unavailable. SAT is continuing its review of the certificates of origin in the remaining 8 open audits, for which the Company has submitted evidence that it believes will be sufficient to establish NAFTA qualification.</p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> <font style="COLOR: black">Based on discussions with SAT, the Company currently expects to incur an immaterial amount of tariff charges and penalties with respect to the shipments determined to be ineligible. The Company does not believe that it faces any material risk of certificates being invalidated with respect to any period other than the 2006 through 2008 audit period. For this reason, the Company does not feel that this matter is likely to have a</font> material adverse effect on the Company's financial position, results of operations and cash flows.</p> <!--EndFragment--></div> </div>
658941000
663186000
1151319000
1156697000
200186000
235788000
176000000
419000
330000000
390000000
154000000
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 0px; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> <strong><em>10.</em> Accounts Receivable</strong></p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> Accounts receivable includes trade receivables and revenue in excess of progress billings on Engineered Composites contracts accounted for under the percentage of completion method. The Company maintains allowances for doubtful accounts for estimated losses resulting from the inability of its customers to make required payments. The Company determines the allowance based on historical write-off experience, customer specific facts and economic conditions. If the financial condition of the Company's customers were to deteriorate, resulting in an impairment of their ability to make payments, additional allowances may be required.</p> <p style="TEXT-INDENT: 0.5in; MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> The components of Accounts receivable are summarized below:</p> <p style="TEXT-INDENT: 0.5in; MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Arial, Helvetica, Sans-Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold"> (in thousands)</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold" colspan="2">March 31,<br /> 2013</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-TOP: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; BORDER-TOP: black 1pt solid" colspan="2">December 31, 2012</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; WIDTH: 56%">Trade accounts receivable</td> <td style="WIDTH: 8%; FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; WIDTH: 13%; FONT-WEIGHT: bold"> $151,141</td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-WEIGHT: bold"> </td> <td style="WIDTH: 8%"> </td> <td style="TEXT-ALIGN: right; WIDTH: 13%">$149,737</td> <td style="TEXT-ALIGN: left; WIDTH: 1%"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt">Revenue in excess of progress billings</td> <td style="FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; FONT-WEIGHT: bold">15,365</td> <td style="TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> <td> </td> <td style="TEXT-ALIGN: right">17,105</td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt">Receivables related to the sale of discontinued businesses</td> <td style="FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; FONT-WEIGHT: bold">16,675</td> <td style="TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> <td> </td> <td style="TEXT-ALIGN: right">16,555</td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt"> Less: allowance for doubtful accounts</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold"> (11,698</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-WEIGHT: bold"> )</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (11,862</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt"> Total Accounts Receivable</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold"> $171,483</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> $171,535</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> </tr> </table> <!--EndFragment--></div> </div>
0.02
0.0275
28261000
150000000
150000000
176000000
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333636000
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55014000
83276000
170600000
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235877000
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 0px; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> <strong><em>13. Financial Instruments</em></strong></p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> Long-term debt consists of:</p> <p style="MARGIN: 0pt 0px 0pt 1in; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Calibri, Helvetica, Sans-Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; FONT-FAMILY: Arial, Helvetica, Sans-Serif; BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold"> (in thousands, except interest rates)</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-FAMILY: Arial, Helvetica, Sans-Serif; BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-FAMILY: Arial, Helvetica, Sans-Serif; BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold" colspan="2">March 31,<br /> 2013</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-FAMILY: Arial, Helvetica, Sans-Serif; BORDER-TOP: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-FAMILY: Arial, Helvetica, Sans-Serif; BORDER-TOP: black 1pt solid" colspan="2">December 31, 2012</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; WIDTH: 56%; FONT-FAMILY: Arial, Helvetica, Sans-Serif; COLOR: black"> Convertible notes, par value $28,437, issued in March 2006 with fixed contractual interest rates of 2.25%, due in 2026, redeemed March 2013</td> <td style="WIDTH: 8%; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; WIDTH: 13%; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> $ -</td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> </td> <td style="WIDTH: 8%; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="TEXT-ALIGN: right; WIDTH: 13%; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> $28,261</td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; FONT-FAMILY: Arial, Helvetica, Sans-Serif; COLOR: black"> Private placement with a fixed interest rate of 6.84%, due in 2013 through 2017</td> <td style="FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> 150,000</td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> </td> <td style="FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> 150,000</td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; FONT-FAMILY: Arial, Helvetica, Sans-Serif; COLOR: black"> Credit agreement with borrowings outstanding at an end of period interest rate of 2.68% in 2013 and 3.92% in 2012, due in 2018</td> <td style="FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> 176,000</td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> </td> <td style="FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> 132,000</td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; FONT-FAMILY: Arial, Helvetica, Sans-Serif; COLOR: black"> Various notes and mortgages relative to operations principally outside the United States, at an average end of period rate of 3.06% in 2013 and 2012, due in varying amounts through 2021</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> 7,636</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> 8,892</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> Long-term debt</td> <td style="FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> 333,636</td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> </td> <td style="FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> 319,153</td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> Less: current portion</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> (55,014</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> )</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> (83,276</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> )</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> Long-term debt, net of current portion</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> $278,622</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> $235,877</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> </tr> </table> <p style="MARGIN: 0pt 0px 0pt 1in; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> The note agreement and guaranty ("the Prudential agreement") was entered into in October 2005 and was amended and restated September 17, 2010 and on March 26, 2013, with the Prudential Insurance Company of America, and certain other purchasers, in an aggregate principal amount of $150 million, with interest at 6.84% and a maturity date of October 25, 2017. There are mandatory payments of $50 million on October 25, 2013 and October 25, 2015. At the noteholders' election, certain prepayments may also be required in connection with certain asset dispositions or financings. The notes may not otherwise be prepaid without a premium, under certain market conditions. The note agreement contains customary terms, as well as affirmative covenants, negative covenants, and events of default comparable to those in our current principal credit facility. For disclosure purposes, we are required to measure the fair value of outstanding debt on a recurring basis. As of March 31, 2013, the fair value of the note agreement was approximately $170.6 million, which was measured using active market interest rates.</p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> <font style="COLOR: black">On March 26, 2013, we entered into a $330 million, unsecured Five-Year Revolving Credit Facility Agreement (the "New Agreement"),</font> under which $176 million of borrowings were outstanding as of March 31, 2013<font style="COLOR: black">. The New Agreement replaces the previous $390 million five-year facility agreement made in 2010.</font> The applicable interest rate for borrowings under the 2013 agreement, as well as under the former agreement, is LIBOR plus a spread, based on our leverage ratio at the time of borrowing.</p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> Our ability to borrow additional amounts under the credit agreement is conditional upon the absence of any defaults, as well as the absence of any material adverse change. Based on our maximum leverage ratio and our consolidated EBITDA (as defined in the credit agreement), and without modification to any other credit agreements, as of March 31, 2013 we would have been able to borrow an additional $154 million under the credit agreement.</p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> On July 16, 2010, we entered into interest rate hedging transactions that have the effect of fixing the LIBOR portion of the effective interest rate (before addition of the spread) on $105 million of the indebtedness drawn under the New Agreement at the rate of 2.04% for five years. Under the terms of these transactions, we pay the fixed rate of 2.04% and the counterparties pay a floating rate based on the three-month LIBOR rate at each quarterly calculation date, which on January 16, 2013 was 0.31%. The net effect is to fix the effective interest rate on $105 million of indebtedness at 2.04%, plus the applicable spread, until these swap agreements expire on July 16, 2015. As of March 31, 2013, the all-in rate on this $105 million of debt was 3.415%. This interest rate swap is accounted for as a hedge of future cash flows, as further described in Note 14 of the Notes to Consolidated Financial Statements.</p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> We are currently required to maintain a leverage ratio of not greater than 3.50 to 1.00 and a minimum interest coverage of 3.00 to 1.00 under the credit agreement and Prudential agreement.</p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> As of March 31, 2013, our leverage ratio was 1.36 to 1.00 and our interest coverage ratio was 11.16 to 1.00. We may purchase our Common Stock or pay dividends to the extent our leverage ratio remains at or below 3.50 to 1.00, and may make acquisitions with cash provided our leverage ratio would not exceed 3.00 to 1.00 after giving pro forma effect to the acquisition.</p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> On March 15, 2013, the Company redeemed, at 100 percent of par, all remaining 2.25% Convertible Senior Notes due 2026 (the "Notes"). The cash payments of $28.4 million were funded by increased borrowings under the Revolving Credit Facility.</p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> In connection with the sale of the Notes, we entered into hedge and warrant transactions with respect to our Class A common stock. These transactions were intended to reduce the potential dilution upon conversion of the Notes by providing us with the option, subject to certain exceptions, to acquire shares in an amount equal to the number of shares that we would be required to deliver upon conversion of the Notes. These transactions had the economic effect to the Company of increasing the conversion price of the Notes to $52.25 per share. The Notes hedge and warrant transactions had a net cost of $14.7 million. The hedge transactions expired on March 15, 2013.</p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> Pursuant to the warrant transactions, we sold a total of 4.1 million warrants, each exercisable to buy a single share of Class A common stock at an initial strike price of $52.25 per share. The warrants are American-style warrants (exercisable at any time), and expire over a period of sixty trading days beginning on June 15, 2013. If the warrants are exercised when they expire, we may choose either net cash or net share settlement. If the warrants are exercised before they expire, they must be net share settled. If we elect to net cash settle the warrants, we will pay cash in an amount equal to, for each exercise of warrants, (i) the number of warrants exercised multiplied by (ii) the excess of the volume weighted average price of our Class A common stock on the expiration date of such warrants (the "settlement price") over the strike price. Under net share settlement, we will deliver to the warrant holders a number of shares of our Class A common stock equal to, for each exercise of warrants, the amount payable upon net cash settlement divided by the settlement price.</p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> Indebtedness under the Prudential note and guaranty agreement and the credit agreement is ranked equally in right of payment to all unsecured senior debt.</p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> We were in compliance with all debt covenants as of March 31, 2013.</p> <!--EndFragment--></div> </div>
530000
0
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110
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1
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3
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4296
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19416
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7866
7869
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8740
9114
9566
9985
15438000
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11511000
47041000
11511000
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11511000
47041000
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<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 0px; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> <strong>1. Basis of Presentation</strong></p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> In our opinion, the accompanying unaudited consolidated financial statements contain all adjustments, consisting of only normal, recurring adjustments, necessary for a fair presentation of results for such periods. The results for any interim period are not necessarily indicative of results for the full year. The preparation of financial statements for interim periods does not require all of the disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP). Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been omitted. The December 31, 2012 financial position data included herein was derived from the audited consolidated financial statements included in the 2012 Form 10-K but does not include all disclosures required by U.S. GAAP. These consolidated financial statements should be read in conjunction with our Annual Report on Form 10-K as filed with the SEC for the year ended December 31, 2012.</p> <!--EndFragment--></div> </div>
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457000
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279000
279000
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908000
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<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 0px; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> <strong><em>6. Other Expense/(Income), net</em></strong></p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> The components of Other expense/(income), net, are:</p> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Arial, Helvetica, Sans-Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-TOP: black 1pt solid"> </td> <td style="COLOR: black; BORDER-TOP: black 1pt solid"> </td> <td style="TEXT-ALIGN: center; COLOR: black; BORDER-TOP: black 1pt solid" colspan="5">Three months ended March 31,</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid"><font style="COLOR: black; FONT: 10pt Arial, Helvetica, Sans-Serif"><strong> (in thousands)</strong></font> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">2013</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">2012</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; WIDTH: 56%"><font style="COLOR: black; FONT: 10pt Arial, Helvetica, Sans-Serif">Currency transactions</font> </td> <td style="WIDTH: 13%; FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; WIDTH: 8%; FONT-WEIGHT: bold">$9</td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-WEIGHT: bold"> </td> <td style="WIDTH: 12%"> </td> <td style="TEXT-ALIGN: right; WIDTH: 9%">$3,832</td> <td style="TEXT-ALIGN: left; WIDTH: 1%"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt">Bank fees and amortization of debt issuance costs</td> <td style="FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; FONT-WEIGHT: bold">621</td> <td style="TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> <td> </td> <td style="TEXT-ALIGN: right">676</td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt">Letter of credit fees</td> <td style="FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; FONT-WEIGHT: bold">-</td> <td style="TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> <td> </td> <td style="TEXT-ALIGN: right">419</td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 5.4pt"> <font style="COLOR: black; FONT: 10pt Arial, Helvetica, Sans-Serif">Other</font> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold"> 104</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (379</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 5.4pt"> <font style="COLOR: black; FONT: 10pt Arial, Helvetica, Sans-Serif">Total</font> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold"> $734</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> $4,548</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> </tr> </table> <!--EndFragment--></div> </div>
130586000
136012000
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379000
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8153000
16675000
16555000
1563000
4069000
13188000
4309000
93000
30000
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 0px; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> <strong><em>4 . Pensions and Other Postretirement Benefit Plans</em></strong></p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 0px; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> <em>Pension Plans</em></p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> The Company has defined benefit pension plans covering certain U.S. and non-U.S. employees. The U.S. qualified defined benefit pension plan has been closed to new participants since October 1998 and, as of February 2009, benefits accrued under this plan were frozen. As a result of the freeze, employees covered by the pension plan will receive, at retirement, benefits already accrued through February 2009, but no new benefits accrue after that date. Benefit accruals under the U.S. Supplemental Executive Retirement Plan ("SERP") were similarly frozen. The eligibility, benefit formulas, and contribution requirements for plans outside of the U.S. vary by location.</p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 0px; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> <em>Other Postretirement Benefits</em></p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> In addition to providing pension benefits, the Company provides various medical, dental, and life insurance benefits for certain retired United States employees. U.S. employees hired prior to 2005 may become eligible for these benefits if they reach normal retirement age while working for the Company. Benefits provided under this plan are subject to change. Retirees share in the cost of these benefits. Effective January 2005, any new employees who wish to be covered under this plan will be responsible for the full cost of such benefits, except for life insurance benefits, which continue to be provided. In September 2008, we changed the cost sharing arrangement under this program such that increases in health care costs are the responsibility of plan participants.</p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> The Company also provides certain postretirement life insurance benefits to retired employees in Canada. The Company accrues the cost of providing postretirement benefits during the active service period of the employees. The Company currently funds the plan as claims are paid.</p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 0px; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> The composition of the net periodic benefit plan cost for the three months ended March 31, 2013 and 2012 was as follows:</p> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Arial, Helvetica, Sans-Serif" cellspacing="0" cellpadding="0" align="center"> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-TOP: black 1pt solid"> </td> <td style="BORDER-TOP: black 1pt solid"> </td> <td style="TEXT-ALIGN: center; BORDER-TOP: black 1pt solid" colspan="5">Pension plans</td> <td style="BORDER-TOP: black 1pt solid"> </td> <td style="TEXT-ALIGN: center; BORDER-TOP: black 1pt solid" colspan="5">Other postretirement benefits</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid">(in thousands)</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">2013</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">2012</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">2013</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">2012</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td> </td> <td> </td> <td colspan="2"> </td> <td> </td> <td colspan="2"> </td> <td> </td> <td colspan="2"> </td> <td> </td> <td colspan="2"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt">Components of net periodic benefit cost:</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; WIDTH: 40%"> Service cost</td> <td style="WIDTH: 3%; FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; WIDTH: 11%; FONT-WEIGHT: bold"> $842</td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-WEIGHT: bold"> </td> <td style="WIDTH: 3%"> </td> <td style="TEXT-ALIGN: right; WIDTH: 11%">$849</td> <td style="TEXT-ALIGN: left; WIDTH: 1%"> </td> <td style="WIDTH: 3%; FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; WIDTH: 11%; FONT-WEIGHT: bold"> $285</td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-WEIGHT: bold"> </td> <td style="WIDTH: 3%"> </td> <td style="TEXT-ALIGN: right; WIDTH: 11%">$268</td> <td style="TEXT-ALIGN: left; WIDTH: 1%"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt">Interest cost</td> <td style="FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; FONT-WEIGHT: bold">2,000</td> <td style="TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> <td> </td> <td style="TEXT-ALIGN: right">4,602</td> <td style="TEXT-ALIGN: left"> </td> <td style="FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; FONT-WEIGHT: bold">802</td> <td style="TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> <td> </td> <td style="TEXT-ALIGN: right">922</td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt">Expected return on assets</td> <td style="FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; FONT-WEIGHT: bold">(2,034</td> <td style="TEXT-ALIGN: left; FONT-WEIGHT: bold">)</td> <td> </td> <td style="TEXT-ALIGN: right">(4,168</td> <td style="TEXT-ALIGN: left">)</td> <td style="FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; FONT-WEIGHT: bold">-</td> <td style="TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> <td> </td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt">Amortization of prior service cost/(credit)</td> <td style="FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; FONT-WEIGHT: bold">9</td> <td style="TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> <td> </td> <td style="TEXT-ALIGN: right">9</td> <td style="TEXT-ALIGN: left"> </td> <td style="FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; FONT-WEIGHT: bold">(917</td> <td style="TEXT-ALIGN: left; FONT-WEIGHT: bold">)</td> <td> </td> <td style="TEXT-ALIGN: right">(917</td> <td style="TEXT-ALIGN: left">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt">Amortization of transition obligation</td> <td style="FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; FONT-WEIGHT: bold">17</td> <td style="TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> <td> </td> <td style="TEXT-ALIGN: right">19</td> <td style="TEXT-ALIGN: left"> </td> <td style="FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; FONT-WEIGHT: bold">-</td> <td style="TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> <td> </td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt">Amortization of net actuarial loss</td> <td style="FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; FONT-WEIGHT: bold">785</td> <td style="TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> <td> </td> <td style="TEXT-ALIGN: right">1,773</td> <td style="TEXT-ALIGN: left"> </td> <td style="FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; FONT-WEIGHT: bold">879</td> <td style="TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> <td> </td> <td style="TEXT-ALIGN: right">804</td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 5.4pt"> Settlement</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold"> -</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 9,175</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold"> -</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> -</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt"> Net periodic benefit cost</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold"> $1,619</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> $12,259</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold"> $1,049</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> $1,077</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> </tr> </table> <p style="MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> In the first quarter of 2012, the Company announced a plan to significantly reduce its pension plan liabilities by settling certain pension obligations, which led to settlement charges totaling $9.2 million for the first three months of 2012 related to the extinguishment of our pension plan liability in Sweden.</p> <!--EndFragment--></div> </div>
5.00
5.00
2000000
2000000
0
0
13986000
10435000
130000000
38000000
112573000
46868000
9000000
6268000
1964000
189000
411398000
420154000
15365000
17105000
32183000
57242000
3800000
-698000
837000
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 0px; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> <strong><em>5. Restructuring</em></strong></p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> Restructuring expenses in 2013 were principally related to a strategic realignment within Engineered Composites operations. The 2012 restructuring expense was principally due to curtailment of manufacturing in New York and Wisconsin which was related to the lower demand for paper machine clothing. Those costs were partially offset by a reduction in accruals related to the Company's headquarters.</p> <p style="TEXT-INDENT: 0.5in; MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> The following table summarizes charges reported in the Statements of Income under "Restructuring and other":</p> <p style="TEXT-INDENT: 0.5in; MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> <table style="WIDTH: 80%; BORDER-COLLAPSE: collapse; FONT: 10pt Arial, Helvetica, Sans-Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-TOP: black 1pt solid"> </td> <td style="BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: center; BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold" colspan="5" nowrap="nowrap">Three months ended March 31,</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold">(in thousands)</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold" colspan="2">2013</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold" colspan="2">2012</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; WIDTH: 56%; COLOR: black"> Machine Clothing</td> <td style="WIDTH: 8%"> </td> <td style="TEXT-ALIGN: right; WIDTH: 13%">$193</td> <td style="TEXT-ALIGN: left; WIDTH: 1%"> </td> <td style="WIDTH: 8%"> </td> <td style="TEXT-ALIGN: right; WIDTH: 13%">$673</td> <td style="TEXT-ALIGN: left; WIDTH: 1%"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt"><font style="COLOR: black; FONT: 10pt Arial, Helvetica, Sans-Serif">Engineered Composites</font> </td> <td> </td> <td style="TEXT-ALIGN: right">443</td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt"> Unallocated expenses</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> -</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (415</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 5.4pt"> <font style="COLOR: black; FONT: 10pt Arial, Helvetica, Sans-Serif">Total</font> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> $636</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> $258</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> </tr> </table> <p style="MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> <p style="MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Arial, Helvetica, Sans-Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold">Three months ended March 31, 2013</td> <td style="BORDER-TOP: black 1pt solid"> </td> <td style="TEXT-ALIGN: right; BORDER-TOP: black 1pt solid" colspan="2"> </td> <td style="BORDER-TOP: black 1pt solid"> </td> <td style="TEXT-ALIGN: right; BORDER-TOP: black 1pt solid" colspan="2"> </td> <td style="BORDER-TOP: black 1pt solid"> </td> <td style="TEXT-ALIGN: right; BORDER-TOP: black 1pt solid" colspan="2"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-WEIGHT: bold"> (in thousands)</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom" colspan="2"><strong>Total <font style="COLOR: black">restructuring costs incurred</font></strong></td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold" colspan="2"><font style="FONT: 10pt Arial, Helvetica, Sans-Serif"><strong style="COLOR: black">Termination and other costs</strong></font> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold" colspan="2">Impairment of plant and equipment</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; WIDTH: 46%; COLOR: black"> Machine Clothing</td> <td style="WIDTH: 5%"> </td> <td style="TEXT-ALIGN: right; WIDTH: 12%">$193</td> <td style="TEXT-ALIGN: left; WIDTH: 1%"> </td> <td style="WIDTH: 5%"> </td> <td style="TEXT-ALIGN: right; WIDTH: 12%">$193</td> <td style="TEXT-ALIGN: left; WIDTH: 1%"> </td> <td style="WIDTH: 5%"> </td> <td style="TEXT-ALIGN: right; WIDTH: 12%">$ -</td> <td style="TEXT-ALIGN: left; WIDTH: 1%"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt"><font style="COLOR: black; FONT: 10pt Arial, Helvetica, Sans-Serif">Engineered Composites</font> </td> <td> </td> <td style="TEXT-ALIGN: right">443</td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">353</td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">90</td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt"> Unallocated expenses</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> -</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> -</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> -</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 5.4pt"> <font style="COLOR: black; FONT: 10pt Arial, Helvetica, Sans-Serif">Total</font> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> $636</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> $546</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> $90</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> </tr> </table> <p style="MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> <p style="MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Arial, Helvetica, Sans-Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold">Three months ended March 31, 2012</td> <td style="BORDER-TOP: black 1pt solid"> </td> <td style="TEXT-ALIGN: right; BORDER-TOP: black 1pt solid" colspan="2"> </td> <td style="BORDER-TOP: black 1pt solid"> </td> <td style="TEXT-ALIGN: right; BORDER-TOP: black 1pt solid" colspan="2"> </td> <td style="BORDER-TOP: black 1pt solid"> </td> <td style="TEXT-ALIGN: right; BORDER-TOP: black 1pt solid" colspan="2"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-WEIGHT: bold"> (in thousands)</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom" colspan="2"><strong>Total <font style="COLOR: black">restructuring costs incurred</font></strong></td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom" colspan="2"><strong style="COLOR: black">Termination and other costs</strong></td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold" colspan="2">Impairment of plant and equipment</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; WIDTH: 46%; COLOR: black"> Machine Clothing</td> <td style="WIDTH: 5%"> </td> <td style="TEXT-ALIGN: right; WIDTH: 12%">$673</td> <td style="TEXT-ALIGN: left; WIDTH: 1%"> </td> <td style="WIDTH: 5%"> </td> <td style="TEXT-ALIGN: right; WIDTH: 12%">$673</td> <td style="TEXT-ALIGN: left; WIDTH: 1%"> </td> <td style="WIDTH: 5%"> </td> <td style="TEXT-ALIGN: right; WIDTH: 12%">$ -</td> <td style="TEXT-ALIGN: left; WIDTH: 1%"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt"><font style="COLOR: black; FONT: 10pt Arial, Helvetica, Sans-Serif">Engineered Composites</font> </td> <td> </td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt"> Unallocated expenses</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (415</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">)</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 131</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (546</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 5.4pt"> <font style="COLOR: black; FONT: 10pt Arial, Helvetica, Sans-Serif">Total</font> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> $258</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> $804</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> ($546</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">)</td> </tr> </table> <p style="MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> We expect that substantially all accruals for restructuring liabilities will be paid within one year. The table below presents year-to-date changes in restructuring liabilities for 2013 and 2012:</p> <p style="TEXT-INDENT: 0.5in; MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Arial, Helvetica, Sans-Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-TOP: black 1pt solid" nowrap="nowrap"> </td> <td style="BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold" nowrap="nowrap"> </td> <td style="TEXT-ALIGN: right; BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold" colspan="2" nowrap="nowrap">December 31,</td> <td style="BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold" nowrap="nowrap"> </td> <td style="TEXT-ALIGN: right; BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold" colspan="2" nowrap="nowrap">Restructuring</td> <td style="BORDER-TOP: black 1pt solid" nowrap="nowrap"> </td> <td style="TEXT-ALIGN: center; BORDER-TOP: black 1pt solid" colspan="2" nowrap="nowrap"> </td> <td style="BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold" nowrap="nowrap"> </td> <td style="TEXT-ALIGN: center; BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold" colspan="2" nowrap="nowrap">Currency</td> <td style="BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold" nowrap="nowrap"> </td> <td style="TEXT-ALIGN: right; BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold" colspan="2" nowrap="nowrap">March 31,</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold" nowrap="nowrap">(in thousands)</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold" nowrap="nowrap"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold" colspan="2" nowrap="nowrap">2012</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold" nowrap="nowrap"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold" colspan="2" nowrap="nowrap">charges accrued</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold" nowrap="nowrap"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold" colspan="2" nowrap="nowrap">Payments</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold" nowrap="nowrap"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2" nowrap="nowrap">translation/other</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold" nowrap="nowrap"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold" colspan="2" nowrap="nowrap">2013</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td> </td> <td> </td> <td colspan="2"> </td> <td> </td> <td colspan="2"> </td> <td> </td> <td colspan="2"> </td> <td> </td> <td colspan="2"> </td> <td> </td> <td colspan="2"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; WIDTH: 35%"> Termination costs</td> <td style="BORDER-BOTTOM: black 1pt solid; WIDTH: 2%"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%"> $4,947</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 1%"> </td> <td style="BORDER-BOTTOM: black 1pt solid; WIDTH: 2%"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%"> $636</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 1%"> </td> <td style="BORDER-BOTTOM: black 1pt solid; WIDTH: 2%"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%"> ($1,716</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 1%"> )</td> <td style="BORDER-BOTTOM: black 1pt solid; WIDTH: 2%"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%"> $71</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 1%"> </td> <td style="BORDER-BOTTOM: black 1pt solid; WIDTH: 2%"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%"> $3,938</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 1%"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 5.4pt"> Total</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> $4,947</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> $636</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> ($1,716</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">)</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> $71</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> $3,938</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> </tr> </table> <p style="TEXT-INDENT: 0.5in; MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> <p style="TEXT-INDENT: 0.5in; MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Arial, Helvetica, Sans-Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-TOP: black 1pt solid" nowrap="nowrap"> </td> <td style="BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold" nowrap="nowrap"> </td> <td style="TEXT-ALIGN: right; BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold" colspan="2" nowrap="nowrap">December 31,</td> <td style="BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold" nowrap="nowrap"> </td> <td style="TEXT-ALIGN: right; BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold" colspan="2" nowrap="nowrap">Restructuring</td> <td style="BORDER-TOP: black 1pt solid" nowrap="nowrap"> </td> <td style="TEXT-ALIGN: center; BORDER-TOP: black 1pt solid" colspan="2" nowrap="nowrap"> </td> <td style="BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold" nowrap="nowrap"> </td> <td style="TEXT-ALIGN: center; BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold" colspan="2" nowrap="nowrap">Currency</td> <td style="BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold" nowrap="nowrap"> </td> <td style="TEXT-ALIGN: right; BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold" colspan="2" nowrap="nowrap">March 31,</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold" nowrap="nowrap">(in thousands)</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold" nowrap="nowrap"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold" colspan="2" nowrap="nowrap">2011</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold" nowrap="nowrap"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold" colspan="2" nowrap="nowrap">charges accrued</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold" nowrap="nowrap"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold" colspan="2" nowrap="nowrap">Payments</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold" nowrap="nowrap"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2" nowrap="nowrap">translation/other</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold" nowrap="nowrap"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold" colspan="2" nowrap="nowrap">2012</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td> </td> <td> </td> <td colspan="2"> </td> <td> </td> <td colspan="2"> </td> <td> </td> <td colspan="2"> </td> <td> </td> <td colspan="2"> </td> <td> </td> <td colspan="2"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; WIDTH: 35%"> Termination costs</td> <td style="BORDER-BOTTOM: black 1pt solid; WIDTH: 2%"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%"> $6,979</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 1%"> </td> <td style="BORDER-BOTTOM: black 1pt solid; WIDTH: 2%"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%"> $803</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 1%"> </td> <td style="BORDER-BOTTOM: black 1pt solid; WIDTH: 2%"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%"> ($1,536</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 1%"> )</td> <td style="BORDER-BOTTOM: black 1pt solid; WIDTH: 2%"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%"> $59</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 1%"> </td> <td style="BORDER-BOTTOM: black 1pt solid; WIDTH: 2%"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%"> $6,305</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 1%"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 5.4pt"> Total</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> $6,979</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> $803</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> ($1,536</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">)</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> $59</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> $6,305</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> </tr> </table> <!--EndFragment--></div> </div>
636000
803000
636000
803000
636000
258000
-415000
-546000
90000
-546000
193000
673000
443000
193000
673000
353000
90000
131000
546000
804000
3938000
4947000
6305000
6979000
3938000
4947000
6305000
6979000
1716000
1536000
1716000
1536000
71000
59000
71000
59000
442865000
435775000
186654000
180077000
167409000
164288000
19245000
15789000
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> The components of Accounts receivable are summarized below:</p> <p style="TEXT-INDENT: 0.5in; MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Arial, Helvetica, Sans-Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold"> (in thousands)</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold" colspan="2">March 31,<br /> 2013</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-TOP: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; BORDER-TOP: black 1pt solid" colspan="2">December 31, 2012</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; WIDTH: 56%">Trade accounts receivable</td> <td style="WIDTH: 8%; FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; WIDTH: 13%; FONT-WEIGHT: bold"> $151,141</td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-WEIGHT: bold"> </td> <td style="WIDTH: 8%"> </td> <td style="TEXT-ALIGN: right; WIDTH: 13%">$149,737</td> <td style="TEXT-ALIGN: left; WIDTH: 1%"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt">Revenue in excess of progress billings</td> <td style="FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; FONT-WEIGHT: bold">15,365</td> <td style="TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> <td> </td> <td style="TEXT-ALIGN: right">17,105</td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt">Receivables related to the sale of discontinued businesses</td> <td style="FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; FONT-WEIGHT: bold">16,675</td> <td style="TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> <td> </td> <td style="TEXT-ALIGN: right">16,555</td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt"> Less: allowance for doubtful accounts</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold"> (11,698</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-WEIGHT: bold"> )</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (11,862</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt"> Total Accounts Receivable</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold"> $171,483</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> $171,535</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> </tr> </table> <!--EndFragment--></div> </div>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> The table below presents changes in the components of Accumulated Other Comprehensive Income for the period December 31, 2012 to March 31, 2013:</p> <p style="TEXT-INDENT: 0.5in; MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Arial, Helvetica, Sans-Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-TOP: black 1pt solid"> (in thousands)</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-TOP: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; BORDER-TOP: black 1pt solid" colspan="2">Translation adjustments</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-TOP: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; BORDER-TOP: black 1pt solid" colspan="2">Pension and postretirement liability adjustments</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-TOP: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; BORDER-TOP: black 1pt solid" colspan="2">Derivative valuation adjustment</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-TOP: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; BORDER-TOP: black 1pt solid" colspan="2">Total Other Comprehensive Income</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td> </td> <td> </td> <td colspan="2"> </td> <td> </td> <td colspan="2"> </td> <td> </td> <td colspan="2"> </td> <td> </td> <td colspan="2"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 5.4pt; WIDTH: 40%; FONT-WEIGHT: bold"> Balance, December 31, 2012</td> <td style="BORDER-BOTTOM: black 1pt solid; WIDTH: 3%; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 11%; FONT-WEIGHT: bold"> ($7,659</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 1%; FONT-WEIGHT: bold"> )</td> <td style="BORDER-BOTTOM: black 1pt solid; WIDTH: 3%; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 11%; FONT-WEIGHT: bold"> ($69,484</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 1%; FONT-WEIGHT: bold"> )</td> <td style="BORDER-BOTTOM: black 1pt solid; WIDTH: 3%; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 11%; FONT-WEIGHT: bold"> ($2,878</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 1%; FONT-WEIGHT: bold"> )</td> <td style="BORDER-BOTTOM: black 1pt solid; WIDTH: 3%; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 11%; FONT-WEIGHT: bold"> ($80,021</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 1%; FONT-WEIGHT: bold"> )</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt">Other comprehensive income before reclassifications</td> <td> </td> <td style="TEXT-ALIGN: right">(11,288</td> <td style="TEXT-ALIGN: left">)</td> <td> </td> <td style="TEXT-ALIGN: right">666</td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">279</td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">(10,343</td> <td style="TEXT-ALIGN: left">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt"> Transfers of pension and postretirement liability adjustments to income statement, net of tax</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 503</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> -</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 503</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt"> Net current period other comprehensive income</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (11,288</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">)</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 1,169</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 279</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (9,840</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 5.4pt; FONT-WEIGHT: bold"> Balance, March 31, 2013</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold"> ($18,947</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-WEIGHT: bold"> )</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold"> ($68,315</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-WEIGHT: bold"> )</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold"> ($2,599</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-WEIGHT: bold"> )</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold"> ($89,861</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-WEIGHT: bold"> )</td> </tr> </table> <!--EndFragment--></div> </div>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> The amounts used in computing earnings per share and the weighted average number of shares of potentially dilutive securities are as follows:</p> <p style="TEXT-INDENT: 0.5in; MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Calibri, Helvetica, Sans-Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-TOP: black 1pt solid"> </td> <td style="FONT-FAMILY: Arial, Helvetica, Sans-Serif; BORDER-TOP: black 1pt solid"> </td> <td style="TEXT-ALIGN: center; FONT-FAMILY: Arial, Helvetica, Sans-Serif; BORDER-TOP: black 1pt solid" colspan="5">Three months ended March 31,</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> (in thousands, except market price data)</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold" colspan="2">2013</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif" colspan="2">2012</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td> </td> <td> </td> <td colspan="2"> </td> <td> </td> <td colspan="2"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; WIDTH: 56%; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> Net income available to common shareholders</td> <td style="BORDER-BOTTOM: black 1pt solid; WIDTH: 12%; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 9%; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> $11,511</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 1%; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; WIDTH: 11%; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> $47,041</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 1%; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> Weighted average number of shares:</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> Weighted average number of shares used in</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> calculating basic net income/(loss) per share</td> <td style="FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> 31,496</td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> </td> <td style="FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> 31,309</td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> Effect of dilutive stock-based compensation plans:</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> Stock options</td> <td style="FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> 113</td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> </td> <td style="FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> 110</td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> Long-term incentive plan</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> 173</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> 114</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> Weighted average number of shares used in</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> calculating diluted net income per share</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> 31,782</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> 31,533</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> Effect of stock-based compensation plans</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> that were not included in the computation of</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> diluted earnings per share because</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> to do so would have been antidilutive</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> -</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> -</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> Average market price of common stock used</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 5.4pt; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> for calculation of dilutive shares</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> $26.41</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> $23.97</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> Net income per share:</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> Basic</td> <td style="FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> $0.37</td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> </td> <td style="FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> $1.50</td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 5.4pt; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> Diluted</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> $0.36</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> $1.49</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> </tr> </table> <!--EndFragment--></div> </div>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> The following table presents components of income tax expense/(benefit) for the three month period ended March 31, 2013 and 2012:</p> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Arial, Helvetica, Sans-Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-TOP: black 1pt solid"> </td> <td style="BORDER-TOP: black 1pt solid"> </td> <td style="TEXT-ALIGN: center; BORDER-TOP: black 1pt solid" colspan="5">Three months ended March 31,</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold">(in thousands)</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold" colspan="2">2013</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold" colspan="2">2012</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td> </td> <td> </td> <td colspan="2"> </td> <td> </td> <td colspan="2"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; WIDTH: 56%"> Income tax based on income from continuing operations, at estimated tax rates of 34.0% and (6.5%), respectively</td> <td style="WIDTH: 13%; FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; WIDTH: 8%; FONT-WEIGHT: bold"> $6,038</td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-WEIGHT: bold"> </td> <td style="WIDTH: 12%; FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; WIDTH: 9%; FONT-WEIGHT: bold">$ 60</td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-WEIGHT: bold"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt">Pension plan settlement</td> <td style="FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; FONT-WEIGHT: bold">-</td> <td style="TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> <td style="FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; FONT-WEIGHT: bold">(3,299</td> <td style="TEXT-ALIGN: left; FONT-WEIGHT: bold">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 5.4pt"> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt">Income tax before discrete items</td> <td style="FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; FONT-WEIGHT: bold">6,038</td> <td style="TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> <td style="FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; FONT-WEIGHT: bold">(3,239</td> <td style="TEXT-ALIGN: left; FONT-WEIGHT: bold">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt">Discrete tax expense/(benefit):</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt">Provision for/resolution of tax audits and contingencies, net</td> <td style="FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; FONT-WEIGHT: bold">-</td> <td style="TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> <td style="FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; FONT-WEIGHT: bold">(6,733</td> <td style="TEXT-ALIGN: left; FONT-WEIGHT: bold">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt"> Adjustments to prior period tax liabilities</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold"> 210</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold"> -</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt"> Total income tax expense/(benefit)</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold"> $6,248</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold"> $(9,972</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-WEIGHT: bold"> )</td> </tr> </table> <!--EndFragment--></div> </div>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> Long-term debt consists of:</p> <p style="MARGIN: 0pt 0px 0pt 1in; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Calibri, Helvetica, Sans-Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; FONT-FAMILY: Arial, Helvetica, Sans-Serif; BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold"> (in thousands, except interest rates)</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-FAMILY: Arial, Helvetica, Sans-Serif; BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-FAMILY: Arial, Helvetica, Sans-Serif; BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold" colspan="2">March 31,<br /> 2013</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-FAMILY: Arial, Helvetica, Sans-Serif; BORDER-TOP: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-FAMILY: Arial, Helvetica, Sans-Serif; BORDER-TOP: black 1pt solid" colspan="2">December 31, 2012</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; WIDTH: 56%; FONT-FAMILY: Arial, Helvetica, Sans-Serif; COLOR: black"> Convertible notes, par value $28,437, issued in March 2006 with fixed contractual interest rates of 2.25%, due in 2026, redeemed March 2013</td> <td style="WIDTH: 8%; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; WIDTH: 13%; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> $ -</td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> </td> <td style="WIDTH: 8%; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="TEXT-ALIGN: right; WIDTH: 13%; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> $28,261</td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; FONT-FAMILY: Arial, Helvetica, Sans-Serif; COLOR: black"> Private placement with a fixed interest rate of 6.84%, due in 2013 through 2017</td> <td style="FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> 150,000</td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> </td> <td style="FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> 150,000</td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; FONT-FAMILY: Arial, Helvetica, Sans-Serif; COLOR: black"> Credit agreement with borrowings outstanding at an end of period interest rate of 2.68% in 2013 and 3.92% in 2012, due in 2018</td> <td style="FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> 176,000</td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> </td> <td style="FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> 132,000</td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; FONT-FAMILY: Arial, Helvetica, Sans-Serif; COLOR: black"> Various notes and mortgages relative to operations principally outside the United States, at an average end of period rate of 3.06% in 2013 and 2012, due in varying amounts through 2021</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> 7,636</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> 8,892</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> Long-term debt</td> <td style="FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> 333,636</td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> </td> <td style="FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> 319,153</td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> Less: current portion</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> (55,014</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> )</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> (83,276</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> )</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> Long-term debt, net of current portion</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> $278,622</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-FAMILY: Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> $235,877</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-FAMILY: Arial, Helvetica, Sans-Serif"> </td> </tr> </table> <!--EndFragment--></div> </div>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> Gains/(losses) on changes in fair value of derivative instruments were as follows:</p> <p style="TEXT-INDENT: 0.5in; MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Calibri, Helvetica, Sans-Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid" nowrap="nowrap"> </td> <td style="BORDER-TOP: windowtext 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom" colspan="3" nowrap="nowrap">Three months ended March 31,</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: windowtext 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; WIDTH: 66%" nowrap="nowrap">(in thousands)</td> <td style="BORDER-BOTTOM: windowtext 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom; WIDTH: 15%" nowrap="nowrap"><strong>2013</strong></td> <td style="BORDER-BOTTOM: windowtext 1pt solid; TEXT-ALIGN: center; PADDING-LEFT: 5.4pt; WIDTH: 1%; PADDING-RIGHT: 5.4pt; VERTICAL-ALIGN: bottom" nowrap="nowrap"> </td> <td style="BORDER-BOTTOM: windowtext 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom; WIDTH: 18%" nowrap="nowrap">2012</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap"> </td> <td style="TEXT-ALIGN: center; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; VERTICAL-ALIGN: bottom" nowrap="nowrap"> </td> <td style="TEXT-ALIGN: center; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; VERTICAL-ALIGN: bottom" nowrap="nowrap"> </td> <td style="TEXT-ALIGN: center; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; VERTICAL-ALIGN: bottom" nowrap="nowrap"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt"> Derivatives designated as hedging instruments</td> <td style="TEXT-ALIGN: center; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; VERTICAL-ALIGN: bottom" nowrap="nowrap"> </td> <td style="TEXT-ALIGN: center; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; VERTICAL-ALIGN: bottom" nowrap="nowrap"> </td> <td style="TEXT-ALIGN: center; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; VERTICAL-ALIGN: bottom" nowrap="nowrap"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt"> Interest rate swap <sup>1</sup></td> <td style="TEXT-ALIGN: center; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; VERTICAL-ALIGN: bottom" nowrap="nowrap"><font style="FONT: 10pt Arial, Helvetica, Sans-Serif"><strong>$279</strong></font> </td> <td style="TEXT-ALIGN: center; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; VERTICAL-ALIGN: bottom" nowrap="nowrap"> </td> <td style="FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom" nowrap="nowrap">($211)</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt"> Derivatives not designated as hedging instruments</td> <td style="TEXT-ALIGN: center; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; VERTICAL-ALIGN: bottom" nowrap="nowrap"> </td> <td style="TEXT-ALIGN: center; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; VERTICAL-ALIGN: bottom" nowrap="nowrap"> </td> <td style="TEXT-ALIGN: center; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; VERTICAL-ALIGN: bottom" nowrap="nowrap"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: windowtext 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap">Forward exchange options <sup>2</sup></td> <td style="BORDER-BOTTOM: windowtext 1pt solid; TEXT-ALIGN: center; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; VERTICAL-ALIGN: bottom" nowrap="nowrap"><font style="FONT: 10pt Arial, Helvetica, Sans-Serif"><strong>-</strong></font> </td> <td style="BORDER-BOTTOM: windowtext 1pt solid; TEXT-ALIGN: center; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; VERTICAL-ALIGN: bottom" nowrap="nowrap"> </td> <td style="BORDER-BOTTOM: windowtext 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom" nowrap="nowrap">(1)</td> </tr> </table> <p style="TEXT-INDENT: 0.5in; MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> <p style="TEXT-INDENT: 0.5in; MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> <table style="MARGIN-TOP: 0px; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: top"> <td style="TEXT-ALIGN: right; WIDTH: 36pt">1</td> <td style="WIDTH: 4pt"> </td> <td>Unrealized losses are recognized in Other comprehensive income, net of tax. This derivative was a 100% effective hedge of interest rate cash flow risk for the quarter ended March 31, 2013.</td> </tr> </table> <p style="TEXT-INDENT: -1in; MARGIN: 0pt 0px 0pt 1.5in; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> <table style="MARGIN-TOP: 0px; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: top"> <td style="TEXT-ALIGN: right; WIDTH: 36pt">2</td> <td style="WIDTH: 4pt"> </td> <td>Gains/(losses) are recognized in Other expense, net.</td> </tr> </table> <!--EndFragment--></div> </div>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> Fair value amounts of derivative instruments were as follows:</p> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Calibri, Helvetica, Sans-Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-TOP: windowtext 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; WIDTH: 55%" nowrap="nowrap">(in thousands)</td> <td style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-TOP: windowtext 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: center; WIDTH: 16%"> Balance<br /> sheet caption</td> <td style="BORDER-BOTTOM: windowtext 1pt solid; TEXT-ALIGN: center; PADDING-LEFT: 5.4pt; WIDTH: 1%; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid"> </td> <td style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-TOP: windowtext 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom; WIDTH: 14%"> <strong>March 31,<br /> 2013</strong></td> <td style="BORDER-BOTTOM: windowtext 1pt solid; TEXT-ALIGN: center; PADDING-LEFT: 5.4pt; WIDTH: 1%; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid"> </td> <td style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-TOP: windowtext 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom; WIDTH: 13%"> December<br /> 31, 2012</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap"> </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap"> </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap"> </td> <td style="TEXT-ALIGN: center; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; VERTICAL-ALIGN: bottom" nowrap="nowrap"> </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap"> </td> <td style="TEXT-ALIGN: center; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; VERTICAL-ALIGN: bottom" nowrap="nowrap"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap"><strong>Liability Derivatives</strong></td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap"> </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap"> </td> <td style="TEXT-ALIGN: center; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; VERTICAL-ALIGN: bottom" nowrap="nowrap"> </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap"> </td> <td style="TEXT-ALIGN: center; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; VERTICAL-ALIGN: bottom" nowrap="nowrap"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt"> Derivatives designated as hedging instruments:</td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap"> </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap"> </td> <td style="TEXT-ALIGN: center; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; VERTICAL-ALIGN: bottom" nowrap="nowrap"> </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap"> </td> <td style="TEXT-ALIGN: center; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; VERTICAL-ALIGN: bottom" nowrap="nowrap"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap">Interest rate swap</td> <td style="FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt"> Other noncurrent liabilities</td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap"> </td> <td style="FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom" nowrap="nowrap"><strong>($4,261)</strong></td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap"> </td> <td style="FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom" nowrap="nowrap">($4,718)</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-TOP: windowtext 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt"> Total liability derivatives</td> <td style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid" nowrap="nowrap"> </td> <td style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid" nowrap="nowrap"> </td> <td style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-TOP: windowtext 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom" nowrap="nowrap"><strong>($4,261)</strong></td> <td style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid" nowrap="nowrap"> </td> <td style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-TOP: windowtext 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom" nowrap="nowrap">($4,718)</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap"> </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap"> </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap"> </td> <td style="TEXT-ALIGN: center; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; VERTICAL-ALIGN: bottom" nowrap="nowrap"> </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap"> </td> <td style="TEXT-ALIGN: center; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; VERTICAL-ALIGN: bottom" nowrap="nowrap"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-TOP: windowtext 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap">Total derivatives</td> <td style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid" nowrap="nowrap"> </td> <td style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid" nowrap="nowrap"> </td> <td style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-TOP: windowtext 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom" nowrap="nowrap"><strong>($4,261)</strong></td> <td style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid" nowrap="nowrap"> </td> <td style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-TOP: windowtext 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom" nowrap="nowrap">($4,718)</td> </tr> </table> <!--EndFragment--></div> </div>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> The table below summarizes operating results of the discontinued operations:</p> <table style="WIDTH: 90%; BORDER-COLLAPSE: collapse; FONT: 10pt Arial, Helvetica, Sans-Serif" cellspacing="0" cellpadding="0" align="center"> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-TOP: black 1pt solid"> </td> <td style="BORDER-TOP: black 1pt solid"> </td> <td style="TEXT-ALIGN: center; BORDER-TOP: black 1pt solid" colspan="3" nowrap="nowrap">Three months<br /> ended</td> <td style="BORDER-TOP: black 1pt solid" nowrap="nowrap"> </td> <td style="TEXT-ALIGN: center; BORDER-TOP: black 1pt solid" colspan="3" nowrap="nowrap">Three months<br /> ended</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold" nowrap="nowrap">(in thousands)</td> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold" nowrap="nowrap"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="3" nowrap="nowrap">March 31, 2013</td> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold" nowrap="nowrap"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="3" nowrap="nowrap">March 31, 2012</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td> </td> <td> </td> <td colspan="3"> </td> <td> </td> <td colspan="3"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; WIDTH: 63%">Net sales</td> <td style="WIDTH: 1%; FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: left; WIDTH: 6%; FONT-WEIGHT: bold">$</td> <td style="TEXT-ALIGN: right; WIDTH: 13%; FONT-WEIGHT: bold">-</td> <td style="TEXT-ALIGN: left; WIDTH: 2%; FONT-WEIGHT: bold"> </td> <td style="WIDTH: 1%; FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-WEIGHT: bold">$</td> <td style="TEXT-ALIGN: right; WIDTH: 12%; FONT-WEIGHT: bold"> 9,491</td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-WEIGHT: bold"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt"> </td> <td> </td> <td style="TEXT-ALIGN: left"> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: left"> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt" nowrap="nowrap"> Income from operations of discontinued business before tax</td> <td style="FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; FONT-WEIGHT: bold">-</td> <td style="TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> <td style="FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; FONT-WEIGHT: bold">2,016</td> <td style="TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt"> </td> <td> </td> <td style="TEXT-ALIGN: left"> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: left"> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt">Gain on disposition of discontinued operations</td> <td style="FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; FONT-WEIGHT: bold">-</td> <td style="TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> <td style="FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; FONT-WEIGHT: bold">57,968</td> <td style="TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt"> </td> <td> </td> <td style="TEXT-ALIGN: left"> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: left"> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt"> Income tax expense</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold"> -</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold"> 12,814</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> </tr> </table> <!--EndFragment--></div> </div>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 0px; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> Estimated amortization expense of intangibles for the years ending December 31, 2013 through 2017, is as follows:</p> <p style="MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> <table style="WIDTH: 40%; BORDER-COLLAPSE: collapse; FONT: 10pt Arial, Helvetica, Sans-Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom; BORDER-TOP: black 1pt solid" colspan="2"> </td> <td style="BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold" colspan="2" nowrap="nowrap">Annual amortization</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold" colspan="2">Year</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold" colspan="2">(in thousands)</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: center; WIDTH: 35%; VERTICAL-ALIGN: bottom"> 2013</td> <td style="TEXT-ALIGN: center; WIDTH: 1%; VERTICAL-ALIGN: bottom"> </td> <td style="WIDTH: 19%"> </td> <td style="TEXT-ALIGN: right; WIDTH: 46%">$231</td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom">2014</td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> </td> <td> </td> <td style="TEXT-ALIGN: right">231</td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom">2015</td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> </td> <td> </td> <td style="TEXT-ALIGN: right">231</td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom">2016</td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> </td> <td> </td> <td style="TEXT-ALIGN: right">29</td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> 2017</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 29</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> </tr> </table> <!--EndFragment--></div> </div>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> We are continuing to amortize certain patents, trade names, customer contracts and technology assets that have finite lives. The changes in intangible assets and goodwill from December 31, 2012 to March 31, 2013, were as follows:</p> <p style="TEXT-INDENT: 0.5in; MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Arial, Helvetica, Sans-Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-TOP: black 1pt solid"> </td> <td style="BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold" colspan="2">Balance at</td> <td style="BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: center; BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold" colspan="2"> </td> <td style="BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold" colspan="2">Currency</td> <td style="BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold" colspan="2">Balance at</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold">(in thousands)</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold" colspan="2" nowrap="nowrap">December 31, 2012</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">Amortization</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold" colspan="2">Translation</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold" colspan="2" nowrap="nowrap">March 31, 2013</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt">Amortized intangible assets:</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; WIDTH: 40%">AEC trade names</td> <td style="WIDTH: 3%"> </td> <td style="TEXT-ALIGN: right; WIDTH: 11%">$38</td> <td style="TEXT-ALIGN: left; WIDTH: 1%"> </td> <td style="WIDTH: 3%"> </td> <td style="TEXT-ALIGN: right; WIDTH: 11%">($1</td> <td style="TEXT-ALIGN: left; WIDTH: 1%">)</td> <td style="WIDTH: 3%"> </td> <td style="TEXT-ALIGN: right; WIDTH: 11%">$ -</td> <td style="TEXT-ALIGN: left; WIDTH: 1%"> </td> <td style="WIDTH: 3%"> </td> <td style="TEXT-ALIGN: right; WIDTH: 11%">$37</td> <td style="TEXT-ALIGN: left; WIDTH: 1%"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt">AEC customer contracts</td> <td> </td> <td style="TEXT-ALIGN: right">606</td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">(51</td> <td style="TEXT-ALIGN: left">)</td> <td> </td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">555</td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt"> AEC technology</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 204</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (6</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">)</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> -</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 198</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt"> Total amortized intangible assets</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> $848</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> ($58</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">)</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">$ -</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> $790</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt">Unamortized intangible assets:</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 5.4pt"> Goodwill</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> $76,522</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">$ -</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> ($1,646</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">)</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> $74,876</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> </tr> </table> <!--EndFragment--></div> </div>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> The components of Inventories are summarized below:</p> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Arial, Helvetica, Sans-Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold"> (in thousands)</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold" colspan="2">March 31,<br /> 2013</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold" colspan="2">December 31, 2012</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; WIDTH: 56%"> Finished goods</td> <td style="WIDTH: 8%; FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; WIDTH: 13%; FONT-WEIGHT: bold"> $49,067</td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-WEIGHT: bold"> </td> <td style="WIDTH: 8%"> </td> <td style="TEXT-ALIGN: right; WIDTH: 13%">$49,235</td> <td style="TEXT-ALIGN: left; WIDTH: 1%"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt">Work in process</td> <td style="FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; FONT-WEIGHT: bold">45,945</td> <td style="TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> <td> </td> <td style="TEXT-ALIGN: right">44,866</td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt"> Raw material and supplies</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold"> 26,020</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 25,082</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-LEFT: 5.4pt; TEXT-ALIGN: left"> Total inventories</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold"> $121,032</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> $119,183</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> </tr> </table> <!--EndFragment--></div> </div>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> The following table sets forth the number of claims filed, the number of claims settled, dismissed or otherwise resolved, and the aggregate settlement amount during the periods presented:</p> <p style="TEXT-INDENT: 0.5in; MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Calibri, Helvetica, Sans-Serif" cellspacing="0" cellpadding="2"> <tr style="VERTICAL-ALIGN: top"> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; BORDER-RIGHT: black 1pt solid; BORDER-TOP: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in; WIDTH: 16%" nowrap="nowrap"><em>Year ended<br /> December 31,</em></td> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 5.4pt; WIDTH: 16%; PADDING-RIGHT: 5.4pt; BORDER-TOP: black 1pt solid; BORDER-RIGHT: black 1pt solid" nowrap="nowrap"> <p style="TEXT-ALIGN: right; TEXT-INDENT: -0.25in; MARGIN: 0pt 0px 0pt 0.25in; FONT: 10pt Arial, Helvetica, Sans-Serif"> <em>Opening<br /> Number of Claims</em></p> <p style="TEXT-ALIGN: right; TEXT-INDENT: -0.25in; MARGIN: 0pt 0px 0pt 0.25in; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> <p style="TEXT-ALIGN: right; TEXT-INDENT: -0.25in; MARGIN: 0pt 0px 0pt 0.25in; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> <p style="TEXT-ALIGN: right; TEXT-INDENT: -0.25in; MARGIN: 0pt 0px 0pt 0.25in; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> </td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; BORDER-TOP: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in; WIDTH: 18%" nowrap="nowrap"><em>Claims Dismissed,<br /> Settled, or Resolved</em></td> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 5.4pt; WIDTH: 14%; PADDING-RIGHT: 5.4pt; BORDER-TOP: black 1pt solid; BORDER-RIGHT: black 1pt solid" nowrap="nowrap"> <p style="TEXT-ALIGN: right; TEXT-INDENT: -0.25in; MARGIN: 0pt 0px 0pt 0.25in; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> <p style="TEXT-ALIGN: right; TEXT-INDENT: -0.25in; MARGIN: 0pt 0px 0pt 0.25in; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> <p style="TEXT-ALIGN: right; TEXT-INDENT: -0.25in; MARGIN: 0pt 0px 0pt 0.25in; FONT: 10pt Arial, Helvetica, Sans-Serif"> <em>New Claims</em></p> <p style="TEXT-ALIGN: right; TEXT-INDENT: -0.25in; MARGIN: 0pt 0px 0pt 0.25in; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> </td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; BORDER-TOP: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in; WIDTH: 13%" nowrap="nowrap"><em>Closing<br /> Number<br /> of Claims</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; BORDER-TOP: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 0.05in; TEXT-ALIGN: right; TEXT-INDENT: -0.25in; WIDTH: 23%" nowrap="nowrap"><em>Amounts Paid<br /> (thousands) to<br /> Settle or<br /> Resolve</em></td> </tr> <tr style="VERTICAL-ALIGN: top"> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>2005</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>29,411</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>6,257</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>1,297</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>24,451</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>$ 504</em></td> </tr> <tr style="VERTICAL-ALIGN: top"> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>2006</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>24,451</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>6,841</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>1,806</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>19,416</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>3,879</em></td> </tr> <tr style="VERTICAL-ALIGN: top"> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>2007</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>19,416</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>808</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>190</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>18,798</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>15</em></td> </tr> <tr style="VERTICAL-ALIGN: top"> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; PADDING-BOTTOM: 10pt; TEXT-INDENT: -0.25in; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; BORDER-RIGHT: black 1pt solid" nowrap="nowrap"><font style="FONT: 10pt Arial, Helvetica, Sans-Serif"><em>2008</em></font> </td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>18,798</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>523</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>110</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>18,385</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>52</em></td> </tr> <tr style="VERTICAL-ALIGN: top"> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>2009</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>18,385</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>9,482</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>42</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>8,945</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>88</em></td> </tr> <tr style="VERTICAL-ALIGN: top"> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>2010</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>8,945</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>3,963</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>188</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>5,170</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>159</em></td> </tr> <tr style="VERTICAL-ALIGN: top"> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>2011</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>5,170</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>789</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>65</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>4,446</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>1,111</em></td> </tr> <tr style="VERTICAL-ALIGN: top"> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; PADDING-BOTTOM: 10pt; TEXT-INDENT: -0.25in; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; BORDER-RIGHT: black 1pt solid" nowrap="nowrap"><font style="FONT: 10pt Arial, Helvetica, Sans-Serif"><em>2012</em></font> </td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>4,446</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>90</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>107</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>4,463</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>530</em></td> </tr> <tr style="VERTICAL-ALIGN: top"> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-INDENT: -0.25in" nowrap="nowrap"><strong><em>2013</em></strong></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><strong><em>4,463</em></strong></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><strong><em>197</em></strong></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><strong><em>30</em></strong></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><strong><em>4,296</em></strong></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><strong><em>0</em></strong></td> </tr> </table> <!--EndFragment--></div> </div>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> The following table sets forth the number of claims filed, the number of claims settled, dismissed or otherwise resolved, and the aggregate settlement amount during the periods presented:</p> <p style="TEXT-INDENT: 0.5in; MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Calibri, Helvetica, Sans-Serif" cellspacing="0" cellpadding="2"> <tr style="VERTICAL-ALIGN: top"> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; BORDER-RIGHT: black 1pt solid; BORDER-TOP: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in; WIDTH: 15%" nowrap="nowrap"><em>Year ended<br /> December 31,</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; BORDER-TOP: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in; WIDTH: 16%" nowrap="nowrap"><em>Opening<br /> Number of Claims</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; BORDER-TOP: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in; WIDTH: 17%" nowrap="nowrap"><em>Claims Dismissed,<br /> Settled, or Resolved</em></td> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 5.4pt; WIDTH: 13%; PADDING-RIGHT: 5.4pt; BORDER-TOP: black 1pt solid; BORDER-RIGHT: black 1pt solid" nowrap="nowrap"> <p style="TEXT-ALIGN: right; TEXT-INDENT: -0.25in; MARGIN: 0pt 0px 0pt 0.25in; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> <p style="TEXT-ALIGN: right; TEXT-INDENT: -0.25in; MARGIN: 0pt 0px 0pt 0.25in; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> <p style="TEXT-ALIGN: right; TEXT-INDENT: -0.25in; MARGIN: 0pt 0px 0pt 0.25in; FONT: 10pt Arial, Helvetica, Sans-Serif"> <em>New Claims</em></p> <p style="TEXT-ALIGN: right; TEXT-INDENT: -0.25in; MARGIN: 0pt 0px 0pt 0.25in; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> </td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; BORDER-TOP: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in; WIDTH: 15%" nowrap="nowrap"><em>Closing<br /> Number of Claims</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; BORDER-TOP: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 0.05in; TEXT-ALIGN: right; TEXT-INDENT: -0.25in; WIDTH: 24%" nowrap="nowrap"><em>Amounts Paid<br /> (thousands) to<br /> Settle or<br /> Resolve</em></td> </tr> <tr style="VERTICAL-ALIGN: top"> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>2005</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>9,985</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>642</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>223</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>9,566</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>$ 0</em></td> </tr> <tr style="VERTICAL-ALIGN: top"> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>2006</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>9,566</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>1,182</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>730</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>9,114</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>0</em></td> </tr> <tr style="VERTICAL-ALIGN: top"> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>2007</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>9,114</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>462</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>88</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>8,740</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>0</em></td> </tr> <tr style="VERTICAL-ALIGN: top"> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>2008</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>8,740</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>86</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>10</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>8,664</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>0</em></td> </tr> <tr style="VERTICAL-ALIGN: top"> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; PADDING-BOTTOM: 10pt; TEXT-INDENT: -0.25in; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; BORDER-RIGHT: black 1pt solid" nowrap="nowrap"><font style="FONT: 10pt Arial, Helvetica, Sans-Serif"><em>2009</em></font> </td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>8,664</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>760</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>3</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>7,907</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>0</em></td> </tr> <tr style="VERTICAL-ALIGN: top"> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; PADDING-BOTTOM: 10pt; TEXT-INDENT: -0.25in; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; BORDER-RIGHT: black 1pt solid" nowrap="nowrap"><font style="FONT: 10pt Arial, Helvetica, Sans-Serif"><em>2010</em></font> </td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>7,907</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>47</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>9</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>7,869</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>0</em></td> </tr> <tr style="VERTICAL-ALIGN: top"> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; PADDING-BOTTOM: 10pt; TEXT-INDENT: -0.25in; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; BORDER-RIGHT: black 1pt solid" nowrap="nowrap"><font style="FONT: 10pt Arial, Helvetica, Sans-Serif"><em>2011</em></font> </td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>7,869</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>3</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>11</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>7,877</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>0</em></td> </tr> <tr style="VERTICAL-ALIGN: top"> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; PADDING-BOTTOM: 10pt; TEXT-INDENT: -0.25in; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; BORDER-RIGHT: black 1pt solid" nowrap="nowrap"><font style="FONT: 10pt Arial, Helvetica, Sans-Serif"><em>2012</em></font> </td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>7,877</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>12</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>2</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>7,867</em></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><em>0</em></td> </tr> <tr style="VERTICAL-ALIGN: top"> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-INDENT: -0.25in" nowrap="nowrap"><strong><em>2013</em></strong></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><strong><em>7,867</em></strong></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><strong><em>2</em></strong></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><strong><em>1</em></strong></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><strong><em>7,866</em></strong></td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; PADDING-BOTTOM: 10pt; PADDING-LEFT: 0.25in; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: -0.25in" nowrap="nowrap"><strong><em>0</em></strong></td> </tr> </table> <!--EndFragment--></div> </div>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 0px; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> The composition of the net periodic benefit plan cost for the three months ended March 31, 2013 and 2012 was as follows:</p> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Arial, Helvetica, Sans-Serif" cellspacing="0" cellpadding="0" align="center"> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-TOP: black 1pt solid"> </td> <td style="BORDER-TOP: black 1pt solid"> </td> <td style="TEXT-ALIGN: center; BORDER-TOP: black 1pt solid" colspan="5">Pension plans</td> <td style="BORDER-TOP: black 1pt solid"> </td> <td style="TEXT-ALIGN: center; BORDER-TOP: black 1pt solid" colspan="5">Other postretirement benefits</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid">(in thousands)</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">2013</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">2012</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">2013</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">2012</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td> </td> <td> </td> <td colspan="2"> </td> <td> </td> <td colspan="2"> </td> <td> </td> <td colspan="2"> </td> <td> </td> <td colspan="2"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt">Components of net periodic benefit cost:</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; WIDTH: 40%"> Service cost</td> <td style="WIDTH: 3%; FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; WIDTH: 11%; FONT-WEIGHT: bold"> $842</td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-WEIGHT: bold"> </td> <td style="WIDTH: 3%"> </td> <td style="TEXT-ALIGN: right; WIDTH: 11%">$849</td> <td style="TEXT-ALIGN: left; WIDTH: 1%"> </td> <td style="WIDTH: 3%; FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; WIDTH: 11%; FONT-WEIGHT: bold"> $285</td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-WEIGHT: bold"> </td> <td style="WIDTH: 3%"> </td> <td style="TEXT-ALIGN: right; WIDTH: 11%">$268</td> <td style="TEXT-ALIGN: left; WIDTH: 1%"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt">Interest cost</td> <td style="FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; FONT-WEIGHT: bold">2,000</td> <td style="TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> <td> </td> <td style="TEXT-ALIGN: right">4,602</td> <td style="TEXT-ALIGN: left"> </td> <td style="FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; FONT-WEIGHT: bold">802</td> <td style="TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> <td> </td> <td style="TEXT-ALIGN: right">922</td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt">Expected return on assets</td> <td style="FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; FONT-WEIGHT: bold">(2,034</td> <td style="TEXT-ALIGN: left; FONT-WEIGHT: bold">)</td> <td> </td> <td style="TEXT-ALIGN: right">(4,168</td> <td style="TEXT-ALIGN: left">)</td> <td style="FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; FONT-WEIGHT: bold">-</td> <td style="TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> <td> </td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt">Amortization of prior service cost/(credit)</td> <td style="FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; FONT-WEIGHT: bold">9</td> <td style="TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> <td> </td> <td style="TEXT-ALIGN: right">9</td> <td style="TEXT-ALIGN: left"> </td> <td style="FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; FONT-WEIGHT: bold">(917</td> <td style="TEXT-ALIGN: left; FONT-WEIGHT: bold">)</td> <td> </td> <td style="TEXT-ALIGN: right">(917</td> <td style="TEXT-ALIGN: left">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt">Amortization of transition obligation</td> <td style="FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; FONT-WEIGHT: bold">17</td> <td style="TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> <td> </td> <td style="TEXT-ALIGN: right">19</td> <td style="TEXT-ALIGN: left"> </td> <td style="FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; FONT-WEIGHT: bold">-</td> <td style="TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> <td> </td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt">Amortization of net actuarial loss</td> <td style="FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; FONT-WEIGHT: bold">785</td> <td style="TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> <td> </td> <td style="TEXT-ALIGN: right">1,773</td> <td style="TEXT-ALIGN: left"> </td> <td style="FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; FONT-WEIGHT: bold">879</td> <td style="TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> <td> </td> <td style="TEXT-ALIGN: right">804</td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 5.4pt"> Settlement</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold"> -</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 9,175</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold"> -</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> -</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt"> Net periodic benefit cost</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold"> $1,619</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> $12,259</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold"> $1,049</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> $1,077</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> </tr> </table> <!--EndFragment--></div> </div>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> The components of Other expense/(income), net, are:</p> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Arial, Helvetica, Sans-Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-TOP: black 1pt solid"> </td> <td style="COLOR: black; BORDER-TOP: black 1pt solid"> </td> <td style="TEXT-ALIGN: center; COLOR: black; BORDER-TOP: black 1pt solid" colspan="5">Three months ended March 31,</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid"><font style="COLOR: black; FONT: 10pt Arial, Helvetica, Sans-Serif"><strong> (in thousands)</strong></font> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">2013</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">2012</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; WIDTH: 56%"><font style="COLOR: black; FONT: 10pt Arial, Helvetica, Sans-Serif">Currency transactions</font> </td> <td style="WIDTH: 13%; FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; WIDTH: 8%; FONT-WEIGHT: bold">$9</td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-WEIGHT: bold"> </td> <td style="WIDTH: 12%"> </td> <td style="TEXT-ALIGN: right; WIDTH: 9%">$3,832</td> <td style="TEXT-ALIGN: left; WIDTH: 1%"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt">Bank fees and amortization of debt issuance costs</td> <td style="FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; FONT-WEIGHT: bold">621</td> <td style="TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> <td> </td> <td style="TEXT-ALIGN: right">676</td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt">Letter of credit fees</td> <td style="FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; FONT-WEIGHT: bold">-</td> <td style="TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> <td> </td> <td style="TEXT-ALIGN: right">419</td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 5.4pt"> <font style="COLOR: black; FONT: 10pt Arial, Helvetica, Sans-Serif">Other</font> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold"> 104</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (379</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 5.4pt"> <font style="COLOR: black; FONT: 10pt Arial, Helvetica, Sans-Serif">Total</font> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold"> $734</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> $4,548</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> </tr> </table> <!--EndFragment--></div> </div>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> The following table summarizes charges reported in the Statements of Income under "Restructuring and other":</p> <p style="TEXT-INDENT: 0.5in; MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> <table style="WIDTH: 80%; BORDER-COLLAPSE: collapse; FONT: 10pt Arial, Helvetica, Sans-Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-TOP: black 1pt solid"> </td> <td style="BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: center; BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold" colspan="5" nowrap="nowrap">Three months ended March 31,</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold">(in thousands)</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold" colspan="2">2013</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold" colspan="2">2012</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; WIDTH: 56%; COLOR: black"> Machine Clothing</td> <td style="WIDTH: 8%"> </td> <td style="TEXT-ALIGN: right; WIDTH: 13%">$193</td> <td style="TEXT-ALIGN: left; WIDTH: 1%"> </td> <td style="WIDTH: 8%"> </td> <td style="TEXT-ALIGN: right; WIDTH: 13%">$673</td> <td style="TEXT-ALIGN: left; WIDTH: 1%"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt"><font style="COLOR: black; FONT: 10pt Arial, Helvetica, Sans-Serif">Engineered Composites</font> </td> <td> </td> <td style="TEXT-ALIGN: right">443</td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt"> Unallocated expenses</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> -</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (415</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 5.4pt"> <font style="COLOR: black; FONT: 10pt Arial, Helvetica, Sans-Serif">Total</font> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> $636</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> $258</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> </tr> </table> <p style="MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> <p style="MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Arial, Helvetica, Sans-Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold">Three months ended March 31, 2013</td> <td style="BORDER-TOP: black 1pt solid"> </td> <td style="TEXT-ALIGN: right; BORDER-TOP: black 1pt solid" colspan="2"> </td> <td style="BORDER-TOP: black 1pt solid"> </td> <td style="TEXT-ALIGN: right; BORDER-TOP: black 1pt solid" colspan="2"> </td> <td style="BORDER-TOP: black 1pt solid"> </td> <td style="TEXT-ALIGN: right; BORDER-TOP: black 1pt solid" colspan="2"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-WEIGHT: bold"> (in thousands)</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom" colspan="2"><strong>Total <font style="COLOR: black">restructuring costs incurred</font></strong></td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold" colspan="2"><font style="FONT: 10pt Arial, Helvetica, Sans-Serif"><strong style="COLOR: black">Termination and other costs</strong></font> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold" colspan="2">Impairment of plant and equipment</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; WIDTH: 46%; COLOR: black"> Machine Clothing</td> <td style="WIDTH: 5%"> </td> <td style="TEXT-ALIGN: right; WIDTH: 12%">$193</td> <td style="TEXT-ALIGN: left; WIDTH: 1%"> </td> <td style="WIDTH: 5%"> </td> <td style="TEXT-ALIGN: right; WIDTH: 12%">$193</td> <td style="TEXT-ALIGN: left; WIDTH: 1%"> </td> <td style="WIDTH: 5%"> </td> <td style="TEXT-ALIGN: right; WIDTH: 12%">$ -</td> <td style="TEXT-ALIGN: left; WIDTH: 1%"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt"><font style="COLOR: black; FONT: 10pt Arial, Helvetica, Sans-Serif">Engineered Composites</font> </td> <td> </td> <td style="TEXT-ALIGN: right">443</td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">353</td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">90</td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt"> Unallocated expenses</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> -</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> -</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> -</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 5.4pt"> <font style="COLOR: black; FONT: 10pt Arial, Helvetica, Sans-Serif">Total</font> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> $636</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> $546</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> $90</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> </tr> </table> <p style="MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> <p style="MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Arial, Helvetica, Sans-Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold">Three months ended March 31, 2012</td> <td style="BORDER-TOP: black 1pt solid"> </td> <td style="TEXT-ALIGN: right; BORDER-TOP: black 1pt solid" colspan="2"> </td> <td style="BORDER-TOP: black 1pt solid"> </td> <td style="TEXT-ALIGN: right; BORDER-TOP: black 1pt solid" colspan="2"> </td> <td style="BORDER-TOP: black 1pt solid"> </td> <td style="TEXT-ALIGN: right; BORDER-TOP: black 1pt solid" colspan="2"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-WEIGHT: bold"> (in thousands)</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom" colspan="2"><strong>Total <font style="COLOR: black">restructuring costs incurred</font></strong></td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; FONT-WEIGHT: bold; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom" colspan="2"><strong style="COLOR: black">Termination and other costs</strong></td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold" colspan="2">Impairment of plant and equipment</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; WIDTH: 46%; COLOR: black"> Machine Clothing</td> <td style="WIDTH: 5%"> </td> <td style="TEXT-ALIGN: right; WIDTH: 12%">$673</td> <td style="TEXT-ALIGN: left; WIDTH: 1%"> </td> <td style="WIDTH: 5%"> </td> <td style="TEXT-ALIGN: right; WIDTH: 12%">$673</td> <td style="TEXT-ALIGN: left; WIDTH: 1%"> </td> <td style="WIDTH: 5%"> </td> <td style="TEXT-ALIGN: right; WIDTH: 12%">$ -</td> <td style="TEXT-ALIGN: left; WIDTH: 1%"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt"><font style="COLOR: black; FONT: 10pt Arial, Helvetica, Sans-Serif">Engineered Composites</font> </td> <td> </td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt"> Unallocated expenses</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (415</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">)</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 131</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (546</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 5.4pt"> <font style="COLOR: black; FONT: 10pt Arial, Helvetica, Sans-Serif">Total</font> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> $258</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> $804</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> ($546</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">)</td> </tr> </table> <!--EndFragment--></div> </div>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> We expect that substantially all accruals for restructuring liabilities will be paid within one year. The table below presents year-to-date changes in restructuring liabilities for 2013 and 2012:</p> <p style="TEXT-INDENT: 0.5in; MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Arial, Helvetica, Sans-Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-TOP: black 1pt solid" nowrap="nowrap"> </td> <td style="BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold" nowrap="nowrap"> </td> <td style="TEXT-ALIGN: right; BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold" colspan="2" nowrap="nowrap">December 31,</td> <td style="BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold" nowrap="nowrap"> </td> <td style="TEXT-ALIGN: right; BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold" colspan="2" nowrap="nowrap">Restructuring</td> <td style="BORDER-TOP: black 1pt solid" nowrap="nowrap"> </td> <td style="TEXT-ALIGN: center; BORDER-TOP: black 1pt solid" colspan="2" nowrap="nowrap"> </td> <td style="BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold" nowrap="nowrap"> </td> <td style="TEXT-ALIGN: center; BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold" colspan="2" nowrap="nowrap">Currency</td> <td style="BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold" nowrap="nowrap"> </td> <td style="TEXT-ALIGN: right; BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold" colspan="2" nowrap="nowrap">March 31,</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold" nowrap="nowrap">(in thousands)</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold" nowrap="nowrap"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold" colspan="2" nowrap="nowrap">2012</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold" nowrap="nowrap"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold" colspan="2" nowrap="nowrap">charges accrued</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold" nowrap="nowrap"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold" colspan="2" nowrap="nowrap">Payments</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold" nowrap="nowrap"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2" nowrap="nowrap">translation/other</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold" nowrap="nowrap"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold" colspan="2" nowrap="nowrap">2013</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td> </td> <td> </td> <td colspan="2"> </td> <td> </td> <td colspan="2"> </td> <td> </td> <td colspan="2"> </td> <td> </td> <td colspan="2"> </td> <td> </td> <td colspan="2"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; WIDTH: 35%"> Termination costs</td> <td style="BORDER-BOTTOM: black 1pt solid; WIDTH: 2%"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%"> $4,947</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 1%"> </td> <td style="BORDER-BOTTOM: black 1pt solid; WIDTH: 2%"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%"> $636</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 1%"> </td> <td style="BORDER-BOTTOM: black 1pt solid; WIDTH: 2%"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%"> ($1,716</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 1%"> )</td> <td style="BORDER-BOTTOM: black 1pt solid; WIDTH: 2%"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%"> $71</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 1%"> </td> <td style="BORDER-BOTTOM: black 1pt solid; WIDTH: 2%"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%"> $3,938</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 1%"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 5.4pt"> Total</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> $4,947</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> $636</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> ($1,716</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">)</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> $71</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> $3,938</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> </tr> </table> <p style="TEXT-INDENT: 0.5in; MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> <p style="TEXT-INDENT: 0.5in; MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Arial, Helvetica, Sans-Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-TOP: black 1pt solid" nowrap="nowrap"> </td> <td style="BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold" nowrap="nowrap"> </td> <td style="TEXT-ALIGN: right; BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold" colspan="2" nowrap="nowrap">December 31,</td> <td style="BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold" nowrap="nowrap"> </td> <td style="TEXT-ALIGN: right; BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold" colspan="2" nowrap="nowrap">Restructuring</td> <td style="BORDER-TOP: black 1pt solid" nowrap="nowrap"> </td> <td style="TEXT-ALIGN: center; BORDER-TOP: black 1pt solid" colspan="2" nowrap="nowrap"> </td> <td style="BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold" nowrap="nowrap"> </td> <td style="TEXT-ALIGN: center; BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold" colspan="2" nowrap="nowrap">Currency</td> <td style="BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold" nowrap="nowrap"> </td> <td style="TEXT-ALIGN: right; BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold" colspan="2" nowrap="nowrap">March 31,</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold" nowrap="nowrap">(in thousands)</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold" nowrap="nowrap"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold" colspan="2" nowrap="nowrap">2011</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold" nowrap="nowrap"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold" colspan="2" nowrap="nowrap">charges accrued</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold" nowrap="nowrap"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold" colspan="2" nowrap="nowrap">Payments</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold" nowrap="nowrap"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2" nowrap="nowrap">translation/other</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold" nowrap="nowrap"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold" colspan="2" nowrap="nowrap">2012</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td> </td> <td> </td> <td colspan="2"> </td> <td> </td> <td colspan="2"> </td> <td> </td> <td colspan="2"> </td> <td> </td> <td colspan="2"> </td> <td> </td> <td colspan="2"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; WIDTH: 35%"> Termination costs</td> <td style="BORDER-BOTTOM: black 1pt solid; WIDTH: 2%"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%"> $6,979</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 1%"> </td> <td style="BORDER-BOTTOM: black 1pt solid; WIDTH: 2%"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%"> $803</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 1%"> </td> <td style="BORDER-BOTTOM: black 1pt solid; WIDTH: 2%"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%"> ($1,536</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 1%"> )</td> <td style="BORDER-BOTTOM: black 1pt solid; WIDTH: 2%"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%"> $59</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 1%"> </td> <td style="BORDER-BOTTOM: black 1pt solid; WIDTH: 2%"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%"> $6,305</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 1%"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 5.4pt"> Total</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> $6,979</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> $803</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> ($1,536</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">)</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> $59</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> $6,305</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> </tr> </table> <!--EndFragment--></div> </div>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> The following tables show data by reportable segment, reconciled to consolidated totals included in the financial statements:</p> <p style="TEXT-INDENT: 0.5in; MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> <table style="WIDTH: 80%; BORDER-COLLAPSE: collapse; FONT: 10pt Arial, Helvetica, Sans-Serif" cellspacing="0" cellpadding="0" align="center"> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-TOP: black 1pt solid"> </td> <td style="COLOR: black; BORDER-TOP: black 1pt solid"> </td> <td style="TEXT-ALIGN: center; COLOR: black; BORDER-TOP: black 1pt solid" colspan="5">Three months ended March 31,</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-WEIGHT: bold"> (in thousands)</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">2013</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">2012</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; FONT-WEIGHT: bold"> Net sales</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; WIDTH: 56%"> Machine Clothing</td> <td style="WIDTH: 8%; FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; WIDTH: 13%; FONT-WEIGHT: bold"> $167,409</td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-WEIGHT: bold"> </td> <td style="WIDTH: 8%"> </td> <td style="TEXT-ALIGN: right; WIDTH: 13%">$164,288</td> <td style="TEXT-ALIGN: left; WIDTH: 1%"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt"> Engineered Composites</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold"> 19,245</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 15,789</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt"> Consolidated total</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold"> $186,654</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> $180,077</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt; COLOR: black; FONT-WEIGHT: bold"> Operating income/(loss)</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt">Machine Clothing</td> <td style="COLOR: black; FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; COLOR: black; FONT-WEIGHT: bold"> $42,908</td> <td style="TEXT-ALIGN: left; COLOR: black; FONT-WEIGHT: bold"> </td> <td style="COLOR: black"> </td> <td style="TEXT-ALIGN: right; COLOR: black">$30,845</td> <td style="TEXT-ALIGN: left; COLOR: black"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; COLOR: black"> Engineered Composites</td> <td style="COLOR: black; FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; COLOR: black; FONT-WEIGHT: bold"> (2,063</td> <td style="TEXT-ALIGN: left; COLOR: black; FONT-WEIGHT: bold"> )</td> <td style="COLOR: black"> </td> <td style="TEXT-ALIGN: right; COLOR: black">29</td> <td style="TEXT-ALIGN: left; COLOR: black"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; COLOR: black"> Research expense</td> <td style="COLOR: black; FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; COLOR: black; FONT-WEIGHT: bold"> (6,991</td> <td style="TEXT-ALIGN: left; COLOR: black; FONT-WEIGHT: bold"> )</td> <td style="COLOR: black"> </td> <td style="TEXT-ALIGN: right; COLOR: black">(6,065</td> <td style="TEXT-ALIGN: left; COLOR: black">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; COLOR: black"> Unallocated expenses</td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; COLOR: black; FONT-WEIGHT: bold"> (11,336</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; COLOR: black; FONT-WEIGHT: bold"> )</td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; COLOR: black"> (25,718</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; COLOR: black"> )</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; COLOR: black"> Operating income/(loss) before reconciling items</td> <td style="COLOR: black; FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; COLOR: black; FONT-WEIGHT: bold"> 22,518</td> <td style="TEXT-ALIGN: left; COLOR: black; FONT-WEIGHT: bold"> </td> <td style="COLOR: black"> </td> <td style="TEXT-ALIGN: right; COLOR: black">(909</td> <td style="TEXT-ALIGN: left; COLOR: black">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; COLOR: black"> Reconciling items:</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; COLOR: black"> Interest income</td> <td style="COLOR: black; FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; COLOR: black; FONT-WEIGHT: bold"> (299</td> <td style="TEXT-ALIGN: left; COLOR: black; FONT-WEIGHT: bold"> )</td> <td style="COLOR: black"> </td> <td style="TEXT-ALIGN: right; COLOR: black">(84</td> <td style="TEXT-ALIGN: left; COLOR: black">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; COLOR: black"> Interest expense</td> <td style="COLOR: black; FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; COLOR: black; FONT-WEIGHT: bold"> 4,324</td> <td style="TEXT-ALIGN: left; COLOR: black; FONT-WEIGHT: bold"> </td> <td style="COLOR: black"> </td> <td style="TEXT-ALIGN: right; COLOR: black">4,728</td> <td style="TEXT-ALIGN: left; COLOR: black"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; COLOR: black"> Other expense/ (income), net</td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; COLOR: black; FONT-WEIGHT: bold"> 734</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; COLOR: black; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; COLOR: black"> 4,548</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; COLOR: black"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; COLOR: black"> Income/(loss) from continuing operations before income taxes</td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; COLOR: black; FONT-WEIGHT: bold"> $17,759</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; COLOR: black; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; COLOR: black"> ($10,101</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; COLOR: black"> )</td> </tr> </table> <!--EndFragment--></div> </div>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> The following table presents the number of shares issued and outstanding:</p> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; VERTICAL-ALIGN: bottom; BORDER-TOP: black 1pt solid" colspan="2"> </td> <td style="FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black; BORDER-TOP: black 1pt solid"> </td> <td style="TEXT-ALIGN: center; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black; VERTICAL-ALIGN: bottom; BORDER-TOP: black 1pt solid" colspan="2">Class A</td> <td style="TEXT-ALIGN: center; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black; VERTICAL-ALIGN: bottom; BORDER-TOP: black 1pt solid"> </td> <td style="TEXT-ALIGN: center; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black; VERTICAL-ALIGN: bottom; BORDER-TOP: black 1pt solid" colspan="2">Class B</td> <td style="TEXT-ALIGN: center; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black; VERTICAL-ALIGN: bottom; BORDER-TOP: black 1pt solid"> </td> <td style="TEXT-ALIGN: center; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black; VERTICAL-ALIGN: bottom; BORDER-TOP: black 1pt solid" colspan="2">Less: Treasury</td> <td style="TEXT-ALIGN: center; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black; VERTICAL-ALIGN: bottom; BORDER-TOP: black 1pt solid"> </td> <td style="TEXT-ALIGN: center; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black; VERTICAL-ALIGN: bottom; BORDER-TOP: black 1pt solid" colspan="2">Net shares</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; VERTICAL-ALIGN: bottom" colspan="2"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black; VERTICAL-ALIGN: bottom"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black; VERTICAL-ALIGN: bottom" colspan="2">Shares</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black; VERTICAL-ALIGN: bottom"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black; VERTICAL-ALIGN: bottom" colspan="2">Shares</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black; VERTICAL-ALIGN: bottom"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black; VERTICAL-ALIGN: bottom" colspan="2">Shares</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black; VERTICAL-ALIGN: bottom"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black; VERTICAL-ALIGN: bottom" colspan="2">Outstanding</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; VERTICAL-ALIGN: bottom"> </td> <td style="TEXT-ALIGN: left; VERTICAL-ALIGN: bottom"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; WIDTH: 17%; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black; VERTICAL-ALIGN: bottom"> March 31, 2013</td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black; VERTICAL-ALIGN: bottom"> </td> <td style="WIDTH: 3%; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black"> </td> <td style="TEXT-ALIGN: right; WIDTH: 17%; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black"> 36,827,227</td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black"> </td> <td style="WIDTH: 3%; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black"> </td> <td style="TEXT-ALIGN: right; WIDTH: 17%; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black"> 3,236,098</td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black"> </td> <td style="WIDTH: 3%; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black"> </td> <td style="TEXT-ALIGN: right; WIDTH: 16%; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black"> (8,467,873</td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black"> )</td> <td style="WIDTH: 3%; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black"> </td> <td style="TEXT-ALIGN: right; WIDTH: 16%; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black"> 31,595,452</td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black; VERTICAL-ALIGN: bottom"> December 31, 2012</td> <td style="TEXT-ALIGN: left; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black; VERTICAL-ALIGN: bottom"> </td> <td style="FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black"> </td> <td style="TEXT-ALIGN: right; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black"> 36,642,204</td> <td style="TEXT-ALIGN: left; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black"> </td> <td style="FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black"> </td> <td style="TEXT-ALIGN: right; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black"> 3,236,098</td> <td style="TEXT-ALIGN: left; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black"> </td> <td style="FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black"> </td> <td style="TEXT-ALIGN: right; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black"> (8,467,873</td> <td style="TEXT-ALIGN: left; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black"> )</td> <td style="FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black"> </td> <td style="TEXT-ALIGN: right; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black"> 31,410,429</td> <td style="TEXT-ALIGN: left; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black; VERTICAL-ALIGN: bottom"> March 31, 2012</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black; VERTICAL-ALIGN: bottom"> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black"> 36,585,004</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black"> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black"> 3,236,098</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black"> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black"> (8,479,487</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black"> )</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black"> 31,341,615</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT: 10pt Arial, Helvetica, Sans-Serif; COLOR: black"> </td> </tr> </table> <!--EndFragment--></div> </div>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> The following table summarizes changes in Stockholders' Equity:</p> <p style="TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 9pt Arial, Helvetica, Sans-Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-TOP: black 1pt solid; COLOR: black; FONT-SIZE: 8pt"> (in thousands)</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-TOP: black 1pt solid; COLOR: black; FONT-SIZE: 8pt"> </td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-TOP: black 1pt solid; COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: center" colspan="2">Class A Common Stock</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-TOP: black 1pt solid; COLOR: black; FONT-SIZE: 8pt"> </td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-TOP: black 1pt solid; COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: center" colspan="2">Class B Common Stock</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-TOP: black 1pt solid; COLOR: black; FONT-SIZE: 8pt"> </td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-TOP: black 1pt solid; COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: center" colspan="2">Additional paid in capital</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-TOP: black 1pt solid; COLOR: black; FONT-SIZE: 8pt"> </td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-TOP: black 1pt solid; COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: center" colspan="2">Retained earnings</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-TOP: black 1pt solid; COLOR: black; FONT-SIZE: 8pt"> </td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-TOP: black 1pt solid; COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: center" colspan="2">Accumulated items of other comprehensive income</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-TOP: black 1pt solid; COLOR: black; FONT-SIZE: 8pt"> </td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-TOP: black 1pt solid; COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom" colspan="2">Treasury stock</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-TOP: black 1pt solid; COLOR: black; FONT-SIZE: 8pt"> </td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-TOP: black 1pt solid; COLOR: black; FONT-SIZE: 8pt" colspan="2">Total<br /> Shareholders' Equity</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="COLOR: black; FONT-SIZE: 8pt; PADDING-LEFT: 5.4pt; WIDTH: 37%"> December 31, 2012</td> <td style="COLOR: black; FONT-SIZE: 8pt; WIDTH: 2%"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right; WIDTH: 6%"> $37</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left; WIDTH: 1%"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; WIDTH: 2%"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right; WIDTH: 6%"> $3</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left; WIDTH: 1%"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; WIDTH: 2%"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right; WIDTH: 6%"> $395,381</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left; WIDTH: 1%"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; WIDTH: 2%"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right; WIDTH: 6%"> $435,775</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left; WIDTH: 1%"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; WIDTH: 2%"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right; WIDTH: 6%"> ($80,021</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left; WIDTH: 1%"> )</td> <td style="COLOR: black; FONT-SIZE: 8pt; WIDTH: 2%"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right; WIDTH: 6%"> ($257,664</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left; WIDTH: 1%"> )</td> <td style="COLOR: black; FONT-SIZE: 8pt; WIDTH: 2%"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right; WIDTH: 6%"> $493,511</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left; WIDTH: 1%"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="COLOR: black; FONT-SIZE: 8pt; PADDING-LEFT: 5.4pt; TEXT-ALIGN: left"> Net income</td> <td style="COLOR: black; FONT-SIZE: 8pt"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left"> </td> <td style="COLOR: black; FONT-SIZE: 8pt"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left"> </td> <td style="COLOR: black; FONT-SIZE: 8pt"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left"> </td> <td style="COLOR: black; FONT-SIZE: 8pt"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right"> 11,511</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left"> </td> <td style="COLOR: black; FONT-SIZE: 8pt"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left"> </td> <td style="COLOR: black; FONT-SIZE: 8pt"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left"> </td> <td style="COLOR: black; FONT-SIZE: 8pt"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right"> 11,511</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="COLOR: black; FONT-SIZE: 8pt; PADDING-LEFT: 5.4pt; TEXT-ALIGN: left"> Dividends declared</td> <td style="COLOR: black; FONT-SIZE: 8pt"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left"> </td> <td style="COLOR: black; FONT-SIZE: 8pt"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left"> </td> <td style="COLOR: black; FONT-SIZE: 8pt"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left"> </td> <td style="COLOR: black; FONT-SIZE: 8pt"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right"> (4,421</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left">)</td> <td style="COLOR: black; FONT-SIZE: 8pt"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left"> </td> <td style="COLOR: black; FONT-SIZE: 8pt"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left"> </td> <td style="COLOR: black; FONT-SIZE: 8pt"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right"> (4,421</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="COLOR: black; FONT-SIZE: 8pt; PADDING-LEFT: 5.4pt; TEXT-ALIGN: left"> Compensation and benefits paid or payable in Class A Common Stock</td> <td style="COLOR: black; FONT-SIZE: 8pt"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left"> </td> <td style="COLOR: black; FONT-SIZE: 8pt"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left"> </td> <td style="COLOR: black; FONT-SIZE: 8pt"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right"> (698</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left">)</td> <td style="COLOR: black; FONT-SIZE: 8pt"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left"> </td> <td style="COLOR: black; FONT-SIZE: 8pt"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left"> </td> <td style="COLOR: black; FONT-SIZE: 8pt"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left"> </td> <td style="COLOR: black; FONT-SIZE: 8pt"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right"> (698</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="COLOR: black; FONT-SIZE: 8pt; PADDING-LEFT: 5.4pt; TEXT-ALIGN: left"> Options exercised</td> <td style="COLOR: black; FONT-SIZE: 8pt"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left"> </td> <td style="COLOR: black; FONT-SIZE: 8pt"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left"> </td> <td style="COLOR: black; FONT-SIZE: 8pt"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right"> 2,315</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left"> </td> <td style="COLOR: black; FONT-SIZE: 8pt"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left"> </td> <td style="COLOR: black; FONT-SIZE: 8pt"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left"> </td> <td style="COLOR: black; FONT-SIZE: 8pt"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left"> </td> <td style="COLOR: black; FONT-SIZE: 8pt"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right"> 2,315</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="COLOR: black; FONT-SIZE: 8pt; PADDING-LEFT: 5.4pt; TEXT-ALIGN: left"> Cumulative translation adjustment</td> <td style="COLOR: black; FONT-SIZE: 8pt"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left"> </td> <td style="COLOR: black; FONT-SIZE: 8pt"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left"> </td> <td style="COLOR: black; FONT-SIZE: 8pt"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left"> </td> <td style="COLOR: black; FONT-SIZE: 8pt"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left"> </td> <td style="COLOR: black; FONT-SIZE: 8pt"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right"> (11,288</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left">)</td> <td style="COLOR: black; FONT-SIZE: 8pt"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left"> </td> <td style="COLOR: black; FONT-SIZE: 8pt"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right"> (11,288</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="COLOR: black; FONT-SIZE: 8pt; PADDING-LEFT: 5.4pt; TEXT-ALIGN: left"> Change in pension liability adjustment</td> <td style="COLOR: black; FONT-SIZE: 8pt"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left"> </td> <td style="COLOR: black; FONT-SIZE: 8pt"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left"> </td> <td style="COLOR: black; FONT-SIZE: 8pt"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left"> </td> <td style="COLOR: black; FONT-SIZE: 8pt"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left"> </td> <td style="COLOR: black; FONT-SIZE: 8pt"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right"> 1,169</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left"> </td> <td style="COLOR: black; FONT-SIZE: 8pt"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left"> </td> <td style="COLOR: black; FONT-SIZE: 8pt"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right"> 1,169</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-SIZE: 8pt; PADDING-LEFT: 5.4pt; TEXT-ALIGN: left"> Change in derivative valuation adjustment</td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-SIZE: 8pt"> </td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right"> -</td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left"> </td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-SIZE: 8pt"> </td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right"> -</td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left"> </td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-SIZE: 8pt"> </td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right"> -</td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left"> </td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-SIZE: 8pt"> </td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right"> -</td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left"> </td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-SIZE: 8pt"> </td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right"> 279</td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left"> </td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-SIZE: 8pt"> </td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right"> -</td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left"> </td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-SIZE: 8pt"> </td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right"> 279</td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-SIZE: 8pt; FONT-WEIGHT: bold; PADDING-LEFT: 5.4pt"> March 31, 2013</td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-SIZE: 8pt; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-SIZE: 8pt; FONT-WEIGHT: bold; TEXT-ALIGN: right"> $37</td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-SIZE: 8pt; FONT-WEIGHT: bold; TEXT-ALIGN: left"> </td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-SIZE: 8pt; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-SIZE: 8pt; FONT-WEIGHT: bold; TEXT-ALIGN: right"> $3</td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-SIZE: 8pt; FONT-WEIGHT: bold; TEXT-ALIGN: left"> </td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-SIZE: 8pt; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-SIZE: 8pt; FONT-WEIGHT: bold; TEXT-ALIGN: right"> $396,998</td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-SIZE: 8pt; FONT-WEIGHT: bold; TEXT-ALIGN: left"> </td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-SIZE: 8pt; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-SIZE: 8pt; FONT-WEIGHT: bold; TEXT-ALIGN: right"> $442,865</td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-SIZE: 8pt; FONT-WEIGHT: bold; TEXT-ALIGN: left"> </td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-SIZE: 8pt; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-SIZE: 8pt; FONT-WEIGHT: bold; TEXT-ALIGN: right"> ($89,861</td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-SIZE: 8pt; FONT-WEIGHT: bold; TEXT-ALIGN: left"> )</td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-SIZE: 8pt; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-SIZE: 8pt; FONT-WEIGHT: bold; TEXT-ALIGN: right"> ($257,664</td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-SIZE: 8pt; FONT-WEIGHT: bold; TEXT-ALIGN: left"> )</td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-SIZE: 8pt; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-SIZE: 8pt; FONT-WEIGHT: bold; TEXT-ALIGN: right"> $492,378</td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-SIZE: 8pt; FONT-WEIGHT: bold; TEXT-ALIGN: left"> </td> </tr> </table> <!--EndFragment--></div> </div>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 0px; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> <strong><em>3. Reportable Segments</em></strong></p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> The following tables show data by reportable segment, reconciled to consolidated totals included in the financial statements:</p> <p style="TEXT-INDENT: 0.5in; MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> <table style="WIDTH: 80%; BORDER-COLLAPSE: collapse; FONT: 10pt Arial, Helvetica, Sans-Serif" cellspacing="0" cellpadding="0" align="center"> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-TOP: black 1pt solid"> </td> <td style="COLOR: black; BORDER-TOP: black 1pt solid"> </td> <td style="TEXT-ALIGN: center; COLOR: black; BORDER-TOP: black 1pt solid" colspan="5">Three months ended March 31,</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-WEIGHT: bold"> (in thousands)</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">2013</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">2012</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; FONT-WEIGHT: bold"> Net sales</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; WIDTH: 56%"> Machine Clothing</td> <td style="WIDTH: 8%; FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; WIDTH: 13%; FONT-WEIGHT: bold"> $167,409</td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-WEIGHT: bold"> </td> <td style="WIDTH: 8%"> </td> <td style="TEXT-ALIGN: right; WIDTH: 13%">$164,288</td> <td style="TEXT-ALIGN: left; WIDTH: 1%"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt"> Engineered Composites</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold"> 19,245</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 15,789</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt"> Consolidated total</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold"> $186,654</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> $180,077</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt; COLOR: black; FONT-WEIGHT: bold"> Operating income/(loss)</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt">Machine Clothing</td> <td style="COLOR: black; FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; COLOR: black; FONT-WEIGHT: bold"> $42,908</td> <td style="TEXT-ALIGN: left; COLOR: black; FONT-WEIGHT: bold"> </td> <td style="COLOR: black"> </td> <td style="TEXT-ALIGN: right; COLOR: black">$30,845</td> <td style="TEXT-ALIGN: left; COLOR: black"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; COLOR: black"> Engineered Composites</td> <td style="COLOR: black; FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; COLOR: black; FONT-WEIGHT: bold"> (2,063</td> <td style="TEXT-ALIGN: left; COLOR: black; FONT-WEIGHT: bold"> )</td> <td style="COLOR: black"> </td> <td style="TEXT-ALIGN: right; COLOR: black">29</td> <td style="TEXT-ALIGN: left; COLOR: black"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; COLOR: black"> Research expense</td> <td style="COLOR: black; FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; COLOR: black; FONT-WEIGHT: bold"> (6,991</td> <td style="TEXT-ALIGN: left; COLOR: black; FONT-WEIGHT: bold"> )</td> <td style="COLOR: black"> </td> <td style="TEXT-ALIGN: right; COLOR: black">(6,065</td> <td style="TEXT-ALIGN: left; COLOR: black">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; COLOR: black"> Unallocated expenses</td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; COLOR: black; FONT-WEIGHT: bold"> (11,336</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; COLOR: black; FONT-WEIGHT: bold"> )</td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; COLOR: black"> (25,718</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; COLOR: black"> )</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; COLOR: black"> Operating income/(loss) before reconciling items</td> <td style="COLOR: black; FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; COLOR: black; FONT-WEIGHT: bold"> 22,518</td> <td style="TEXT-ALIGN: left; COLOR: black; FONT-WEIGHT: bold"> </td> <td style="COLOR: black"> </td> <td style="TEXT-ALIGN: right; COLOR: black">(909</td> <td style="TEXT-ALIGN: left; COLOR: black">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; COLOR: black"> Reconciling items:</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; COLOR: black"> Interest income</td> <td style="COLOR: black; FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; COLOR: black; FONT-WEIGHT: bold"> (299</td> <td style="TEXT-ALIGN: left; COLOR: black; FONT-WEIGHT: bold"> )</td> <td style="COLOR: black"> </td> <td style="TEXT-ALIGN: right; COLOR: black">(84</td> <td style="TEXT-ALIGN: left; COLOR: black">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; COLOR: black"> Interest expense</td> <td style="COLOR: black; FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; COLOR: black; FONT-WEIGHT: bold"> 4,324</td> <td style="TEXT-ALIGN: left; COLOR: black; FONT-WEIGHT: bold"> </td> <td style="COLOR: black"> </td> <td style="TEXT-ALIGN: right; COLOR: black">4,728</td> <td style="TEXT-ALIGN: left; COLOR: black"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; COLOR: black"> Other expense/ (income), net</td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; COLOR: black; FONT-WEIGHT: bold"> 734</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; COLOR: black; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; COLOR: black"> 4,548</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; COLOR: black"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; COLOR: black"> Income/(loss) from continuing operations before income taxes</td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; COLOR: black; FONT-WEIGHT: bold"> $17,759</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; COLOR: black; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; COLOR: black"> ($10,101</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; COLOR: black"> )</td> </tr> </table> <p style="TEXT-INDENT: 0.5in; MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> <p style="MARGIN-TOP: 9px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> The table below presents pension settlement and restructuring costs by reportable segment (also see Note 5):</p> <p style="TEXT-INDENT: 0.5in; MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> <table style="WIDTH: 80%; BORDER-COLLAPSE: collapse; FONT: 10pt Arial, Helvetica, Sans-Serif" cellspacing="0" cellpadding="0" align="center"> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-TOP: black 1pt solid"> </td> <td style="COLOR: black; BORDER-TOP: black 1pt solid"> </td> <td style="TEXT-ALIGN: center; COLOR: black; BORDER-TOP: black 1pt solid" colspan="5">Three months ended March 31,</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-WEIGHT: bold"> (in thousands)</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">2013</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">2012</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; FONT-WEIGHT: bold"> Pension settlement</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; WIDTH: 56%"> Unallocated expenses</td> <td style="BORDER-BOTTOM: black 1pt solid; WIDTH: 8%; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 13%; FONT-WEIGHT: bold"> $ -</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 1%; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; WIDTH: 8%"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 13%"> $9,175</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 1%"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; FONT-WEIGHT: bold"> Restructuring expense</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt">Machine Clothing</td> <td style="FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; FONT-WEIGHT: bold">$193</td> <td style="TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> <td> </td> <td style="TEXT-ALIGN: right">$673</td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt">Engineered Composites</td> <td style="FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; FONT-WEIGHT: bold">443</td> <td style="TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> <td> </td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt"> Unallocated expenses</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold"> -</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (415</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt"> Consolidated total</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold"> $636</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> $258</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> </td> </tr> </table> <p style="TEXT-INDENT: 0.5in; MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> The 2013 restructuring expense was principally related to a strategic realignment within Engineered Composites operations. The 2012 restructuring expense was principally due to curtailment of manufacturing in New York and Wisconsin.</p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> There were no material changes in the total assets of the reportable segments during this period.</p> <!--EndFragment--></div> </div>
36553000
47023000
-800000
0
492378000
493511000
37000
37000
3000
3000
396998000
395381000
442865000
435775000
-89861000
-80021000
-257664000
-257664000
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 0px; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> <strong><em>16. Changes in Shareholders' Equity</em></strong></p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 20pt; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0px"> The following table summarizes changes in Stockholders' Equity:</p> <p style="TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Arial, Helvetica, Sans-Serif"> </p> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 9pt Arial, Helvetica, Sans-Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-TOP: black 1pt solid; COLOR: black; FONT-SIZE: 8pt"> (in thousands)</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-TOP: black 1pt solid; COLOR: black; FONT-SIZE: 8pt"> </td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-TOP: black 1pt solid; COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: center" colspan="2">Class A Common Stock</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-TOP: black 1pt solid; COLOR: black; FONT-SIZE: 8pt"> </td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-TOP: black 1pt solid; COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: center" colspan="2">Class B Common Stock</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-TOP: black 1pt solid; COLOR: black; FONT-SIZE: 8pt"> </td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-TOP: black 1pt solid; COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: center" colspan="2">Additional paid in capital</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-TOP: black 1pt solid; COLOR: black; FONT-SIZE: 8pt"> </td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-TOP: black 1pt solid; COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: center" colspan="2">Retained earnings</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-TOP: black 1pt solid; COLOR: black; FONT-SIZE: 8pt"> </td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-TOP: black 1pt solid; COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: center" colspan="2">Accumulated items of other comprehensive income</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-TOP: black 1pt solid; COLOR: black; FONT-SIZE: 8pt"> </td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-TOP: black 1pt solid; COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom" colspan="2">Treasury stock</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-TOP: black 1pt solid; COLOR: black; FONT-SIZE: 8pt"> </td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-TOP: black 1pt solid; COLOR: black; FONT-SIZE: 8pt" colspan="2">Total<br /> Shareholders' Equity</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="COLOR: black; FONT-SIZE: 8pt; PADDING-LEFT: 5.4pt; WIDTH: 37%"> December 31, 2012</td> <td style="COLOR: black; FONT-SIZE: 8pt; WIDTH: 2%"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right; WIDTH: 6%"> $37</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left; WIDTH: 1%"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; WIDTH: 2%"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right; WIDTH: 6%"> $3</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left; WIDTH: 1%"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; WIDTH: 2%"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right; WIDTH: 6%"> $395,381</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left; WIDTH: 1%"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; WIDTH: 2%"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right; WIDTH: 6%"> $435,775</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left; WIDTH: 1%"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; WIDTH: 2%"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right; WIDTH: 6%"> ($80,021</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left; WIDTH: 1%"> )</td> <td style="COLOR: black; FONT-SIZE: 8pt; WIDTH: 2%"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right; WIDTH: 6%"> ($257,664</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left; WIDTH: 1%"> )</td> <td style="COLOR: black; FONT-SIZE: 8pt; WIDTH: 2%"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right; WIDTH: 6%"> $493,511</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left; WIDTH: 1%"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="COLOR: black; FONT-SIZE: 8pt; PADDING-LEFT: 5.4pt; TEXT-ALIGN: left"> Net income</td> <td style="COLOR: black; FONT-SIZE: 8pt"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left"> </td> <td style="COLOR: black; FONT-SIZE: 8pt"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left"> </td> <td style="COLOR: black; FONT-SIZE: 8pt"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left"> </td> <td style="COLOR: black; FONT-SIZE: 8pt"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right"> 11,511</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left"> </td> <td style="COLOR: black; FONT-SIZE: 8pt"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left"> </td> <td style="COLOR: black; FONT-SIZE: 8pt"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left"> </td> <td style="COLOR: black; FONT-SIZE: 8pt"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right"> 11,511</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="COLOR: black; FONT-SIZE: 8pt; PADDING-LEFT: 5.4pt; TEXT-ALIGN: left"> Dividends declared</td> <td style="COLOR: black; FONT-SIZE: 8pt"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left"> </td> <td style="COLOR: black; FONT-SIZE: 8pt"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left"> </td> <td style="COLOR: black; FONT-SIZE: 8pt"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left"> </td> <td style="COLOR: black; FONT-SIZE: 8pt"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right"> (4,421</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left">)</td> <td style="COLOR: black; FONT-SIZE: 8pt"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left"> </td> <td style="COLOR: black; FONT-SIZE: 8pt"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left"> </td> <td style="COLOR: black; FONT-SIZE: 8pt"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right"> (4,421</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="COLOR: black; FONT-SIZE: 8pt; PADDING-LEFT: 5.4pt; TEXT-ALIGN: left"> Compensation and benefits paid or payable in Class A Common Stock</td> <td style="COLOR: black; FONT-SIZE: 8pt"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left"> </td> <td style="COLOR: black; FONT-SIZE: 8pt"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left"> </td> <td style="COLOR: black; FONT-SIZE: 8pt"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right"> (698</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left">)</td> <td style="COLOR: black; FONT-SIZE: 8pt"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left"> </td> <td style="COLOR: black; FONT-SIZE: 8pt"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left"> </td> <td style="COLOR: black; FONT-SIZE: 8pt"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left"> </td> <td style="COLOR: black; FONT-SIZE: 8pt"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right"> (698</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="COLOR: black; FONT-SIZE: 8pt; PADDING-LEFT: 5.4pt; TEXT-ALIGN: left"> Options exercised</td> <td style="COLOR: black; FONT-SIZE: 8pt"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left"> </td> <td style="COLOR: black; FONT-SIZE: 8pt"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left"> </td> <td style="COLOR: black; FONT-SIZE: 8pt"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right"> 2,315</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left"> </td> <td style="COLOR: black; FONT-SIZE: 8pt"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left"> </td> <td style="COLOR: black; FONT-SIZE: 8pt"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left"> </td> <td style="COLOR: black; FONT-SIZE: 8pt"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left"> </td> <td style="COLOR: black; FONT-SIZE: 8pt"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right"> 2,315</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="COLOR: black; FONT-SIZE: 8pt; PADDING-LEFT: 5.4pt; TEXT-ALIGN: left"> Cumulative translation adjustment</td> <td style="COLOR: black; FONT-SIZE: 8pt"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left"> </td> <td style="COLOR: black; FONT-SIZE: 8pt"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left"> </td> <td style="COLOR: black; FONT-SIZE: 8pt"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left"> </td> <td style="COLOR: black; FONT-SIZE: 8pt"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left"> </td> <td style="COLOR: black; FONT-SIZE: 8pt"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right"> (11,288</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left">)</td> <td style="COLOR: black; FONT-SIZE: 8pt"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left"> </td> <td style="COLOR: black; FONT-SIZE: 8pt"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right"> (11,288</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="COLOR: black; FONT-SIZE: 8pt; PADDING-LEFT: 5.4pt; TEXT-ALIGN: left"> Change in pension liability adjustment</td> <td style="COLOR: black; FONT-SIZE: 8pt"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left"> </td> <td style="COLOR: black; FONT-SIZE: 8pt"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left"> </td> <td style="COLOR: black; FONT-SIZE: 8pt"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left"> </td> <td style="COLOR: black; FONT-SIZE: 8pt"> </td> <td style="COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="COLOR: black; 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COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left"> </td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-SIZE: 8pt"> </td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right"> -</td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left"> </td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-SIZE: 8pt"> </td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right"> -</td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left"> </td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-SIZE: 8pt"> </td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right"> -</td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left"> </td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-SIZE: 8pt"> </td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right"> 279</td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left"> </td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-SIZE: 8pt"> </td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right"> -</td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left"> </td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-SIZE: 8pt"> </td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: right"> 279</td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-SIZE: 8pt; TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-SIZE: 8pt; FONT-WEIGHT: bold; PADDING-LEFT: 5.4pt"> March 31, 2013</td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-SIZE: 8pt; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-SIZE: 8pt; FONT-WEIGHT: bold; TEXT-ALIGN: right"> $37</td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-SIZE: 8pt; FONT-WEIGHT: bold; TEXT-ALIGN: left"> </td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-SIZE: 8pt; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-SIZE: 8pt; FONT-WEIGHT: bold; TEXT-ALIGN: right"> $3</td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-SIZE: 8pt; FONT-WEIGHT: bold; TEXT-ALIGN: left"> </td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-SIZE: 8pt; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-SIZE: 8pt; FONT-WEIGHT: bold; TEXT-ALIGN: right"> $396,998</td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-SIZE: 8pt; FONT-WEIGHT: bold; TEXT-ALIGN: left"> </td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-SIZE: 8pt; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-SIZE: 8pt; FONT-WEIGHT: bold; TEXT-ALIGN: right"> $442,865</td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-SIZE: 8pt; FONT-WEIGHT: bold; TEXT-ALIGN: left"> </td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-SIZE: 8pt; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-SIZE: 8pt; FONT-WEIGHT: bold; TEXT-ALIGN: right"> ($89,861</td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-SIZE: 8pt; FONT-WEIGHT: bold; TEXT-ALIGN: left"> )</td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-SIZE: 8pt; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-SIZE: 8pt; FONT-WEIGHT: bold; TEXT-ALIGN: right"> ($257,664</td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-SIZE: 8pt; FONT-WEIGHT: bold; TEXT-ALIGN: left"> )</td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-SIZE: 8pt; FONT-WEIGHT: bold"> </td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-SIZE: 8pt; FONT-WEIGHT: bold; TEXT-ALIGN: right"> $492,378</td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; FONT-SIZE: 8pt; FONT-WEIGHT: bold; TEXT-ALIGN: left"> </td> </tr> </table> <!--EndFragment--></div> </div>
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Unrealized losses are recognized in Other comprehensive income, net of tax. This derivative was a 100% effective hedge of interest rate cash flow risk for the quarter ended March 31, 2013.
Gains/(losses) are recognized in Other expense, net.