Other Comprehensive Income (Loss)

3 Months Ended

Mar. 31, 2024

Equity [Abstract]

Other Comprehensive Income (Loss)

Other Comprehensive Income (Loss)

The after-tax changes in accumulated other comprehensive income (loss), are as follows: 

	Foreign currency translation adjustment		Pension and post-retirement benefits plans		Derivative instruments		Accumulated other comprehensive income (loss)
Balance - December 31, 2023	$	(23,227)	$	(11,896)	$	4,839	$	(30,284)
Net current period change	(2,559)		(712)		2,726		(545)
Amounts reclassified into earnings	—		245		(694)		(449)
Balance - March 31, 2024	$	(25,786)	$	(12,363)	$	6,871	$	(31,278)

	Foreign currency translation adjustment		Pension and post-retirement benefit plans		Derivative instruments		Accumulated other comprehensive income (loss)
Balance - December 31, 2022	$	(24,811)	$	(11,512)	$	4,773	$	(31,550)
Net current period change	2,557		(109)		(905)		1,543
Amounts reclassified into earnings	—		249		2,248		2,497
Balance - March 31, 2023	$	(22,254)	$	(11,372)	$	6,116	$	(27,510)

The related tax effects allocated to each component of other comprehensive income (loss) are as follows:

	Three Months Ended March 31, 2024
	Before Tax Amount		Tax Expense		After Tax Amount
Net current period change
Cumulative translation adjustment	$	(2,559)	$	—	$	(2,559)
Net actuarial gain and prior service credit	(713)		1		(712)
Derivative instruments	3,748		(1,022)		2,726
Net unrealized gain (loss)	476		(1,021)		(545)
Amounts reclassified into earnings:
Actuarial loss and prior service cost	245		—		245
Derivative instruments	(875)		181		(694)
Net realized gain (loss)	$	(630)	$	181	$	(449)
Total other comprehensive income (loss)	$	(154)	$	(840)	$	(994)

	Three Months Ended March 31, 2023
	Before Tax Amount		Tax Expense		After Tax  Amount
Net current period change
Cumulative translation adjustment	$	2,557	$	—	$	2,557
Net actuarial gain and prior service credit	(112)		3		(109)
Derivative instruments	(1,222)		317		(905)
Net unrealized gain (loss)	1,223		320		1,543
Amounts reclassified into earnings:
Actuarial loss and prior service cost	249		—		249
Derivative instruments	3,037		(789)		2,248
Net realized gain (loss)	$	3,286	$	(789)	$	2,497
Total other comprehensive income (loss)	$	4,509	$	(469)	$	4,040

As of March 31, 2024, the Company estimates that net pre-tax derivative gains of $5.5 million included in Accumulated other

comprehensive income (loss) will be reclassified into earnings within the next 12 months.