Accumulated Other Comprehensive Income (Loss) (Tables)

9 Months Ended

Sep. 30, 2022

Equity [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss)

The following table presents the changes in AOCL, net of tax for the three months ended September 30, 2022 and 2021:

	2022								2021
(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 - July 1	$	(536,929)	$	(91,508)	$	(1,278)	$	(629,715)	$	(453,328)	$	(140,405)	$	(271)	$	(594,004)
Other comprehensive income (loss) before reclassifications (3)	(89,282)		7,961		—		(81,321)		(15,561)		2,300		—		(13,261)
Amounts reclassified from AOCL	—		(1,800)		29		(1,771)		—		2,655		(1,347)		1,308
Net current-period other comprehensive income (loss) (3)	(89,282)		6,161		29		(83,092)		(15,561)		4,955		(1,347)		(11,953)
Balance - September 30	$	(626,211)	$	(85,347)	$	(1,249)	$	(712,807)	$	(468,889)	$	(135,450)	$	(1,618)	$	(605,957)

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(1) Includes foreign currency translation adjustments attributable to noncontrolling interests of $5.9 million and $6.1 million at July 1, 2022 and 2021, respectively, and $5.8 million and $6.1 million at September 30, 2022 and 2021, respectively. Also includes the impacts from the changes in fair value of our cross-currency swaps, which were $21.3 million and $12.5 million for the three months ended September 30, 2022 and 2021, respectively.

(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.

Reclassifications out of Accumulated Other Comprehensive Income (Loss)

The following table presents the reclassifications out of AOCL:

		Three Months Ended September 30,
(Amounts in thousands)	Affected line item in the statement of income	2022(1)		2021(1)
Pension and other postretirement effects
Amortization of actuarial losses(2)	Other income (expense), net	$	1,453	$	(2,978)
Prior service costs(2)	Other income (expense), net	134		(149)
	Tax benefit	213		472
	Net of tax	$	1,800	$	(2,655)
Cash flow hedging activity
Amortization of Treasury rate lock	Interest income (expense)	$	(38)	$	1,761
	Tax benefit (expense)	9		(414)
	Net of tax	$	(29)	$	1,347

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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.

The following table presents the changes in AOCL, net of tax for the nine months ended September 30, 2022 and 2021:

	2022								2021
(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	$	(456,025)	$	(101,665)	$	(1,336)	$	(559,026)	$	(456,437)	$	(146,723)	$	(488)	$	(603,648)
Other comprehensive income (loss) before reclassifications (3)	(170,187)		22,325		—		(147,862)		(12,452)		3,104		—		(9,348)
Amounts reclassified from AOCL	—		(6,007)		87		(5,920)		—		8,169		(1,130)		7,039
Net current-period other comprehensive income (loss) (3)	(170,187)		16,318		87		(153,782)		(12,452)		11,273		(1,130)		(2,309)
Balance - September 30	$	(626,212)	$	(85,347)	$	(1,249)	$	(712,808)	$	(468,889)	$	(135,450)	$	(1,618)	$	(605,957)

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(1) Includes foreign currency translation adjustments attributable to noncontrolling interests of $4.6 million and $5.9 million at January 1, 2022 and 2021, respectively, and $5.8 million and $6.1 million at September 30, 2022 and 2021, respectively. Also includes the impacts from the changes in fair value of our cross-currency swaps, which were $56.3 million and $22.3 million for the nine months ended September 30, 2022 and 2021, respectively.

(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:

		Nine Months Ended September 30,
(Amounts in thousands)	Affected line item in the statement of income	2022(1)		2021(1)
Pension and other postretirement effects
Amortization of actuarial losses(2)	Other income (expense), net	$	4,653	$	(9,126)
Prior service costs(2)	Other income (expense), net	429		(457)
	Tax benefit	925		1,414
	Net of tax	$	6,007	$	(8,169)
Cash flow hedging activity
Amortization of Treasury rate lock	Interest income (expense)	$	(114)	$	1,478
	Tax benefit (expense)	27		(348)
	Net of tax	$	(87)	$	1,130

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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.