Accumulated Other Comprehensive Income (Loss)

9 Months Ended

Sep. 30, 2021

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Accumulated Other Comprehensive Income (Loss)

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

The other comprehensive (loss) income consists of the following components:

	Three Months Ended September 30
	2021						2020
	Before-Tax		Income		After-Tax		Before-Tax		Income		After-Tax
(in thousands)	Amount		Tax		Amount		Amount		Tax		Amount
Foreign currency translation adjustments:
Translation adjustments arising during the period	$	(16,033)	$	—	$	(16,033)	$	20,430	$	—	$	20,430
Pension and other postretirement plans:
Amortization of net prior service cost included in net income	793		(188)		605		671		(180)		491
Amortization of net actuarial (gain) loss included in net income	(1,066)		238		(828)		304		(83)		221
	(273)		50		(223)		975		(263)		712
Cash flow hedges:
Gain for the period	169		(39)		130		157		(36)		121
Other Comprehensive (Loss) Income	$	(16,137)	$	11	$	(16,126)	$	21,562	$	(299)	$	21,263

	Nine Months Ended September 30
	2021						2020
	Before-Tax		Income		After-Tax		Before-Tax		Income		After-Tax
(in thousands)	Amount		Tax		Amount		Amount		Tax		Amount
Foreign currency translation adjustments:
Translation adjustments arising during the period	$	(15,352)	$	—	$	(15,352)	$	(541)	$	—	$	(541)
Pension and other postretirement plans:
Amortization of net prior service cost included in net income	2,377		(615)		1,762		2,010		(542)		1,468
Amortization of net actuarial (gain) loss included in net income	(4,419)		1,143		(3,276)		914		(247)		667
	(2,042)		528		(1,514)		2,924		(789)		2,135
Cash flow hedges:
Gain (loss) for the period	803		(186)		617		(1,564)		358		(1,206)
Other Comprehensive (Loss) Income	$	(16,591)	$	342	$	(16,249)	$	819	$	(431)	$	388

The accumulated balances related to each component of other comprehensive income (loss) are as follows:

(in thousands, net of taxes)	Cumulative Foreign Currency Translation Adjustment		Unrealized Gain on Pensions and Other Postretirement Plans		Cash Flow Hedges		Accumulated Other Comprehensive Income
Balance as of December 31, 2020	$	9,754	$	595,287	$	(1,727)	$	603,314
Other comprehensive (loss) income before reclassifications	(15,352)		—		161		(15,191)
Net amount reclassified from accumulated other comprehensive income (loss)	—		(1,514)		456		(1,058)
Other comprehensive (loss) income, net of tax	(15,352)		(1,514)		617		(16,249)
Balance as of September 30, 2021	$	(5,598)	$	593,773	$	(1,110)	$	587,065

The amounts and line items of reclassifications out of Accumulated Other Comprehensive Income (Loss) are as follows:

	Three Months Ended   September 30				Nine Months Ended   September 30				Affected Line Item in the Condensed Consolidated Statements of Operations
(in thousands)	2021		2020		2021		2020
Pension and Other Postretirement Plans:
Amortization of net prior service cost	$	793	$	671	$	2,377	$	2,010	(1)
Amortization of net actuarial (gain) loss	(1,066)		304		(4,419)		914		(1)
	(273)		975		(2,042)		2,924		Before tax
	50		(263)		528		(789)		(Benefit from) Provision for Income Taxes
	(223)		712		(1,514)		2,135		Net of Tax
Cash Flow Hedges
	149		166		456		313		Interest expense
	—		—		—		13		(Benefit from) Provision for Income Taxes
	149		166		456		326		Net of Tax
Total reclassification for the period	$	(74)	$	878	$	(1,058)	$	2,461	Net of Tax

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(1)    These accumulated other comprehensive income components are included in the computation of net periodic pension and postretirement plan cost (see Note 12) and are included in non-operating pension and postretirement benefit income in the Company’s Condensed Consolidated Statements of Operations.