Accumulated Other Comprehensive Income (Loss)

3 Months Ended

Mar. 31, 2023

Accumulated Other Comprehensive Income (Loss)

The following table presents the changes in AOCL, net of tax for the three months ended March 31, 2023 and 2022:


	2023								2022
(Amounts in thousands)	Foreign currency translation items(1)		Pension and other post-retirement effects		Cash flow hedging activity (2)		Total		Foreign currency translation items(1)		Pension and other post-retirement effects		Cash flow hedging activity (2)		Total
Balance - January 1	$	(554,683)	$	(86,356)	$	(933)	$	(641,972)	$	(456,025)	$	(101,665)	$	(1,336)	$	(559,026)
Other comprehensive income (loss) before reclassifications (3)	13,506		(865)		—		12,641		(16,744)		1,957		—		(14,787)
Amounts reclassified from AOCL	—		422		30		452		—		1,630		29		1,659
Net current-period other comprehensive income (loss) (3)	13,506		(443)		30		13,093		(16,744)		3,587		29		(13,128)
Balance - March 31	$	(541,177)	$	(86,799)	$	(903)	$	(628,879)	$	(472,769)	$	(98,078)	$	(1,307)	$	(572,154)

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(1) Includes foreign currency translation adjustments attributable to noncontrolling interests of $5.8 million and $4.6 million at January 1, 2023 and 2022, respectively, and $2.7 million and $5.9 million at March 31, 2023 and 2022, respectively. Also includes the impacts from the changes in fair value of our cross-currency swaps, which were $8.6 million for the three months ended March 31, 2022.

(2) Other comprehensive loss before reclassifications and amounts reclassified from AOCL to interest expense related to designated cash flow hedges.

(3) Amounts in parentheses indicate an increase to AOCL.

The following table presents the reclassifications out of AOCL:


		Three Months Ended March 31,
(Amounts in thousands)	Affected line item in the statement of income	2023(1)		2022(1)












Pension and other postretirement effects
Amortization of actuarial losses(2)	Other income (expense), net	$	(283)	$	(1,732)
Prior service costs(2)	Other income (expense), net	(151)		(152)
	Tax benefit	12		254
	Net of tax	$	(422)	$	(1,630)

Cash flow hedging activity
Amortization of Treasury rate lock	Interest income (expense)	$	(39)	$	(29)
	Tax benefit (expense)	9		—
	Net of tax	$	(30)	$	(29)

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(1) Amounts in parentheses indicate decreases to income. None of the reclassified amounts have a noncontrolling interest component.

(2) These AOCL components are included in the computation of net periodic pension cost. See Note 11 for additional details.