XML 26 R15.htm IDEA: XBRL DOCUMENT v3.24.3
Accumulated Other Comprehensive Income (Loss)
 9 Months Ended
Sep. 30, 2024
Equity [Abstract]  
Accumulated Other Comprehensive Income (Loss) Accumulated Other Comprehensive Income (Loss)
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 and nine months ended September 30, 2024 and 2023 is as follows (in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
Opening accumulated other comprehensive (loss) income
$(14,313)$10,377 $(16,640)$(6,050)
Pension and other postretirement benefits:
Balance at beginning of period, net of tax
$279 $2,936 $383 $2,626 
Loss arising during period(13)(832)(117)(522)
     Balance at end of period, net of tax
$266 $2,104 $266 2,104 
Foreign currency translation adjustments:
Balance at beginning of period, net of tax
$(42,792)$(20,272)$(31,587)$(26,594)
       Cumulative translation adjustment41,282 (46,262)3,983 (21,034)
       Derivative net investment hedges (37,262)35,795 (11,168)16,889 
Net gain (loss) on foreign currency translation4,020 (10,467)(7,185)(4,145)
     Balance at end of period, net of tax
$(38,772)$(30,739)$(38,772)$(30,739)
Designated derivatives:
Balance at beginning of period, net of tax
$28,200 $27,713 $14,564 $17,918 
       Cash flow hedge derivatives(22,228)19,625 1,414 37,082 
       Net amount reclassified from AOCI to net loss(252)(7,244)(10,258)(14,906)
Net (loss) gain on designated derivatives(22,480)12,381 (8,844)22,176 
     Balance at end of period, net of tax
$5,720 $40,094 $5,720 $40,094 
Closing accumulated other comprehensive (loss) income
$(32,786)$11,459 $(32,786)$11,459