Accumulated Other Comprehensive Loss

12 Months Ended

Dec. 31, 2024

The Company reports activity in Accumulated other comprehensive income (loss) (“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 years ended December 31, 2024, 2023 and 2022 is as follows:


	Years Ended December 31,
	2024		2023		2022
	(In thousands)
Opening balance - accumulated other comprehensive (loss) income	$	(16,640)	$	(6,050)	$	4,522

Pension and other postretirement benefits:
Balance at beginning of period, net of tax	$	383	$	2,682	$	5,058

Gain (loss) arising during period	515		(2,299)		(2,397)
Amortization of prior service cost	—		—		21
Net gain (loss) on pension and other postretirement benefit	515		(2,299)		(2,376)

Balance at end of period, net of tax	$	898	$	383	$	2,682

Foreign currency translation adjustments:
Balance at beginning of period, net of tax	$	(31,587)	$	(26,650)	$	(3,136)

Cumulative translation adjustment	(71,343)		26,956		(90,482)
Removal of hedge designation	(10,410)		—		—
Derecognition of cumulative foreign currency translation upon deconsolidation of entity contributed to a joint venture	—		—		4,970
Non-derivative net investment hedges	67,312		(31,893)		61,998
Net loss on foreign currency translation	(14,441)		(4,937)		(23,514)

Balance at end of period, net of tax	$	(46,028)	$	(31,587)	$	(26,650)

Designated derivatives:
Balance at beginning of period, net of tax	$	14,564	$	17,918	$	2,600

Cash flow hedge derivatives	27,765		8,532		21,505
Net amount reclassified from AOCI to net loss	(24,478)		(11,886)		(6,187)
Net gain (loss) on designated derivatives	3,287		(3,354)		15,318

Balance at end of period, net of tax	$	17,851	$	14,564	$	17,918

Closing balance - accumulated other comprehensive loss	$	(27,279)	$	(16,640)	$	(6,050)