Accumulated Other Comprehensive (Loss) Income

3 Months Ended

Mar. 31, 2023

Equity [Abstract]

Accumulated Other Comprehensive (Loss) Income

Accumulated Other Comprehensive (Loss) Income

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 designated derivatives, and minimum pension liability adjustments (net of tax). The activity in AOCI for the three months ended March 31, 2023 and 2022 is as follows (in thousands):

	Three Months Ended March 31,
	2023		2022
Pension and other postretirement benefits:
Gain arising during the period	$	698	$	62
Amortization of prior service cost (1)	—		5
Total pension and other postretirement benefits, net of tax	$	698	$	67
Foreign currency translation adjustments:
Cumulative translation adjustment	$	10,801	$	(12,506)
Derivative net investment hedges	(10,622)		23,692
Total foreign currency translation adjustments	$	179	$	11,186
Designated derivatives:
Cash flow hedge derivatives	$	(8,564)	(4,325)
Net amount reclassified from AOCI to net loss	(4,000)		4,476
Total unrealized (loss) gain on derivative contracts	$	(12,564)	$	151
Total change in other comprehensive loss	$	(11,687)	$	11,404

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