SFAS No. 123, “Accounting for Stock-Based Compensation,” requires companies to provide additional note disclosures about employee stock-based compensation plans based on a fair value based method of accounting. As permitted by this accounting standard, the Company continues to account for these plans under APB Opinion 25.

For purposes of the pro forma disclosure, compensation cost for the Company’s stock option plan was determined based on the fair value at the grant dates for awards under those plans consistent with the method of SFAS No. 123. The fair value of each option grant has been estimated on the date of grant using an option-pricing model with the following weighted-average assumptions used for grants in 2000, 1999 and 1998:

If options had been reported as compensation expense based on their fair value, pro forma net income would have been $41.8 million, $56.4 million and $54.0 million for the years ended December 31, 2000, 1999 and 1998, respectively, and pro forma earnings per share would have been $0.79, $1.01 and $0.90, respectively.

16. Comprehensive Income

The components of total accumulated other comprehensive income are as follows:

The related income tax effect allocated to each component of other comprehensive income (loss) is as follows:

Below represents the detail of other comprehensive income: