Comprehensive Income

6 Months Ended

Jun. 30, 2022

Comprehensive Income

Comprehensive Income

14.  Comprehensive Income

Comprehensive income for the three and six months ended June 30, 2022 and 2021, was as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
	(Dollars in thousands)
Net earnings	$	4,495	$	3,820	$	8,548	$	5,145
Foreign currency translation adjustments		(1,235)		176		(714)		33
Pension liability, net of tax of $60, $65, $114, and $129, respectively		170		182		324		365
Total comprehensive income	$	3,430	$	4,178	$	8,158	$	5,543

The components of accumulated other comprehensive loss as recorded in the Consolidated Condensed Balance Sheets (Unaudited) were as follows:

	June 30,		December 31,
	2022		2021
	(Dollars in thousands)
Foreign currency translation adjustments	$	(7,497)	$	(6,783)
Pension liability, net of tax		(17,687)		(18,011)
Total accumulated other comprehensive loss	$	(25,184)	$	(24,794)

The following tables show changes in accumulated other comprehensive loss during the six months ended June 30, 2022 and 2021:

			Defined
	Foreign Currency		Benefit
	Translation		Pension
	Adjustments		Items		Total
Beginning balance, December 31, 2021	$	(6,783)	$	(18,011)	$	(24,794)
Other comprehensive loss before reclassifications		(714)		—		(714)
Amounts reclassified from accumulated other comprehensive loss		—		324		324
Net current period other comprehensive (loss) income		(714)		324		(390)
Ending balance, June 30, 2022	$	(7,497)	$	(17,687)	$	(25,184)

			Defined
	Foreign Currency		Benefit
	Translation		Pension
	Adjustments		Items		Total
Beginning balance, December 31, 2020	$	(6,050)	$	(21,955)	$	(28,005)
Other comprehensive income before reclassifications		33		—		33
Amounts reclassified from accumulated other comprehensive loss		—		365		365
Net current period other comprehensive income		33		365		398
Ending balance, June 30, 2021	$	(6,017)	$	(21,590)	$	(27,607)

The following table shows reclassification adjustments out of accumulated other comprehensive loss during the three and six month periods ended June 30, 2022 and 2021:

	Amounts Reclassified from Accumulated Other Comprehensive Loss									Affected line item in the
	Three Months Ended June 30,				Six Months Ended June 30,					statement where net income is
	2022		2021		2022		2021			presented
Amortization of defined benefit pension items
Prior service cost	$	1	$	(15)	$	3	$	(31)	(1)	Other income, net
Actuarial losses		229		262		435		525	(1)	Other income, net
Total before tax		230		247		438		494
Tax benefit		(60)		(65)		(114)		(129)
Net of tax	$	170	$	182	$	324	$	365

(1) These amounts were included in pension expense. See Note 8 for additional details.