Accumulated Other Comprehensive Income (Loss) (Tables)

6 Months Ended

Jun. 30, 2024

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

The other comprehensive loss consists of the following components:


	Three Months Ended June 30
	2024						2023
	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	$	3,517	$	—	$	3,517	$	2,384	$	—	$	2,384
Pension and other postretirement plans:
Amortization of net prior service (credit) cost included in net income	(482)		124		(358)		411		(106)		305
Amortization of net actuarial gain included in net income	(11,733)		3,004		(8,729)		(10,434)		2,684		(7,750)



	(12,215)		3,128		(9,087)		(10,023)		2,578		(7,445)
Cash flow hedges:
Gains for the period	346		(91)		255		1,188		(273)		915
Other Comprehensive Loss	$	(8,352)	$	3,037	$	(5,315)	$	(6,451)	$	2,305	$	(4,146)


	Six Months Ended June 30
	2024						2023
	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	$	(9,767)	$	—	$	(9,767)	$	11,378	$	—	$	11,378
Pension and other postretirement plans:
Amortization of net prior service (credit) cost included in net income	(976)		250		(726)		820		(211)		609
Amortization of net actuarial gain included in net income	(24,720)		6,329		(18,391)		(21,200)		5,453		(15,747)


	(25,696)		6,579		(19,117)		(20,380)		5,242		(15,138)
Cash flow hedges:
Gains for the period	1,457		(380)		1,077		258		(59)		199
Other Comprehensive Loss	$	(34,006)	$	6,199	$	(27,807)	$	(8,744)	$	5,183	$	(3,561)

Summary of Changes in Accumulated Other Comprehensive Income (Loss)

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, 2023	$	(32,711)	$	649,185	$	(2,137)	$	614,337

Other comprehensive (loss) income before reclassifications	(9,767)		—		1,322		(8,445)
Net amount reclassified from accumulated other comprehensive income (loss)	—		(19,117)		(245)		(19,362)
Net other comprehensive (loss) income	(9,767)		(19,117)		1,077		(27,807)
Balance as of June 30, 2024	$	(42,478)	$	630,068	$	(1,060)	$	586,530

Summary of Amounts and Line Items of Reclassifications Out of Accumulated Other Comprehensive Income (Loss)

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


	Three Months Ended June 30				Six Months Ended June 30				Affected Line Item in the Condensed Consolidated Statements of Operations

(in thousands)	2024		2023		2024		2023



Pension and Other Postretirement Plans:
Amortization of net prior service (credit) cost	$	(482)	$	411	$	(976)	$	820	(1)
Amortization of net actuarial gain	(11,733)		(10,434)		(24,720)		(21,200)		(1)

	(12,215)		(10,023)		(25,696)		(20,380)		Before tax
	3,128		2,578		6,579		5,242		Provision for Income Taxes
	(9,087)		(7,445)		(19,117)		(15,138)		Net of Tax

Cash Flow Hedges	(120)		(235)		(245)		(409)		Interest expense


Total reclassification for the period	$	(9,207)	$	(7,680)	$	(19,362)	$	(15,547)	Net of Tax

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(1) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and postretirement plan cost (see Note 11) and are included in non-operating pension and postretirement benefit income in the Company’s Condensed Consolidated Statements of Operations.