Comprehensive Income

6 Months Ended

Jun. 30, 2024

13. Comprehensive Income

Comprehensive income for the three and six months ended June 30, 2024 and 2023, was as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023

	(Dollars in thousands)
Net earnings	$	5,607	$	4,864	$	12,257	$	12,309
Foreign currency translation adjustments		61		262		(1,031)		(44)
Pension liability adjustment, net of tax of $26, $30, $52, and $65, respectively		73		84		146		183
Total comprehensive income	$	5,741	$	5,210	$	11,372	$	12,448

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


	June 30,		December 31,
	2024		2023

	(Dollars in thousands)
Foreign currency translation adjustments	$	(8,985)	$	(7,954)
Pension liability, net of tax		(9,211)		(9,357)
Total accumulated other comprehensive loss	$	(18,196)	$	(17,311)

The following tables show changes in accumulated other comprehensive loss during the six months ended June 30, 2024 and 2023:


	Foreign Currency
	Translation		Defined Benefit
	Adjustments		Pension Items		Total
Balance, December 31, 2023	$	(7,954)	$	(9,357)	$	(17,311)
Other comprehensive loss before reclassifications		(1,031)		—		(1,031)
Amounts reclassified from accumulated other comprehensive loss		—		146		146
Net current period other comprehensive (loss) income		(1,031)		146		(885)
Balance, June 30, 2024	$	(8,985)	$	(9,211)	$	(18,196)


	Foreign Currency
	Translation		Defined Benefit
	Adjustments		Pension Items		Total
Balance, December 31, 2022	$	(8,596)	$	(11,597)	$	(20,193)
Other comprehensive loss before reclassifications		(44)		—		(44)
Amounts reclassified from accumulated other comprehensive loss		—		183		183
Net current period other comprehensive (loss) income		(44)		183		139
Balance, June 30, 2023	$	(8,640)	$	(11,414)	$	(20,054)

The following table shows reclassification adjustments out of accumulated other comprehensive loss during the three and six months ended June 30, 2024 and 2023:



	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
	2024			2023			2024			2023			earnings is presented
Amortization of defined benefit pension items
Prior service cost	$	5	⁽¹⁾	$	5	⁽¹⁾	$	10	⁽¹⁾	$	10	⁽¹⁾	Other expense, net
Actuarial losses		94	⁽¹⁾		109	⁽¹⁾		188	⁽¹⁾		238	⁽¹⁾	Other expense, net
Total before tax		99			114			198			248
Tax benefit		(26)			(30)			(52)			(65)
Net of tax	$	73		$	84		$	146		$	183

(1)

These amounts were included in the computation of pension expense. See Note 7 for additional details.