Accumulated Other Comprehensive Loss

6 Months Ended

Jun. 30, 2020

The Company reports activity in AOCI for foreign currency translation adjustments, including the translation adjustment for investments in partially owned entities, unrealized gains and losses on cash flow hedge derivatives, and minimum pension liability adjustments (net of tax). The activity in AOCI for the three and six months ended June 30, 2020 and 2019 is as follows (in thousands):


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Pension and other postretirement benefits:
Balance at beginning of period, net of tax	$	(4,344)	$	(7,503)	$	(4,758)	$	(8,027)
Gain arising during the period	405		518		811		1,034
Less: Tax expense	—		—		—		—
Net gain arising during the period	405		518		811		1,034
Amortization of prior service cost ⁽¹⁾	7		9		15		17
Less: Tax expense	—		—		—		—
Net amount reclassified from AOCI to net income	7		9		15		17
Other comprehensive income, net of tax	412		527		826		1,051
Balance at end of period, net of tax	(3,932)		(6,976)		(3,932)		(6,976)
Foreign currency translation adjustments:
Balance at beginning of period, net of tax	(32,257)		(2,101)		(6,710)		(3,322)
Gain (loss) on foreign currency translation	10,337		(2,257)		(15,210)		(1,036)

Less: Tax expense	—		—		—		—
Net gain (loss) on foreign currency translation	10,337		(2,257)		(15,210)		(1,036)
Balance at end of period, net of tax	(21,920)		(4,358)		(21,920)		(4,358)
Designated derivatives:
Balance at beginning of period, net of tax	(6,697)		(3,880)		(2,658)		(1,166)
Unrealized loss on cash flow hedge derivatives	(16,826)		(1)		(9,630)		(3,985)
Unrealized gain on net investment hedge derivative	—		—		5,250		—
Less: Tax expense	—		—		—		—
Net loss on designated derivatives	(16,826)		(1)		(4,380)		(3,985)
Net amount reclassified from AOCI to net income (loss) (interest expense)	1,023		(2)		732		—
Net reclassified from AOCI to net income (loss) (foreign exchange (gain) loss)	12,309		(1,760)		(3,885)		(492)
Balance at end of period, net of tax	(10,191)		(5,643)		(10,191)		(5,643)

Accumulated other comprehensive loss	$	(36,043)	$	(16,977)	$	(36,043)	$	(16,977)

⁽¹⁾Amounts reclassified from AOCI for pension liabilities are recognized in “Selling, general and administrative” in the accompanying condensed consolidated statements of operations.