Accumulated Other Comprehensive Income (Loss)

3 Months Ended

Apr. 01, 2022

Accumulated Other Comprehensive Income (Loss)

Changes in the components of accumulated other comprehensive income, including the amounts reclassified, for the first quarter of 2022 and 2021 are as follows:


	Gains and Losses on Cash Flow Hedges
(Thousands)	Foreign Currency		Interest Rate		Precious Metals		Copper		Total		Pension and Post-Employment Benefits		Foreign Currency Translation		Total
Balance at December 31, 2021	$	2,348	$	—	$	72	$	—	$	2,420	$	(39,702)	$	(2,887)	$	(40,169)
Other comprehensive income (loss) before reclassifications	153		3,112		(520)		—		2,745		—		(2,047)		698
Amounts reclassified from accumulated other comprehensive income (loss)	(19)		115		107		—		203		(1,000)		—		(797)
Net current period other comprehensive (loss) income before tax	134		3,227		(413)		—		2,948		(1,000)		(2,047)		(99)
Deferred taxes	31		742		(95)		—		678		(760)		—		(82)
Net current period other comprehensive (loss) income after tax	103		2,485		(318)		—		2,270		(240)		(2,047)		(17)
Balance at April 1, 2022	$	2,451	$	2,485	$	(246)	$	—	$	4,690	$	(39,942)	$	(4,934)	$	(40,186)

Balance at December 31, 2020	$	519	$	—	$	(170)	$	468	$	817	$	(43,473)	$	4,017	$	(38,639)
Other comprehensive (loss) income before reclassifications	1,085		—		741		1,291		3,117		—		(8,857)		(5,740)
Amounts reclassified from accumulated other comprehensive income (loss)	140		—		(104)		(1,534)		(1,498)		157		—		(1,341)
Net current period other comprehensive (loss) income before tax	1,225				637		(243)		1,619		157		(8,857)		(7,081)
Deferred taxes	282				147		(55)		374		(7)		—		367
Net current period other comprehensive (loss) income after tax	943				490		(188)		1,245		164		(8,857)		(7,448)
Balance at April 2, 2021	$	1,462			$	320	$	280	$	2,062	$	(43,309)	$	(4,840)	$	(46,087)

Reclassifications from accumulated other comprehensive income (loss) of gains and losses on foreign currency cash flow hedges are recorded in Net sales in the Consolidated Statements of Income (Loss). Reclassifications from accumulated other comprehensive income (loss) of gains and losses on precious metal and copper cash flow hedges are recorded in Cost of sales in the Consolidated Statements of Income. Reclassifications from accumulated other comprehensive income (loss) of gains and losses on the interest rate cash flow hedge is recorded in Interest expense in the Consolidated Statements of Income. Refer to Note N for additional details on cash flow hedges.

Reclassifications from accumulated other comprehensive income (loss) for pension and post-employment benefits are included in the computation of the net periodic pension and post-employment benefit expense. Refer to Note J for additional details on pension and post-employment expenses.