Accumulated Other Comprehensive Loss

12 Months Ended

Dec. 31, 2021

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Note O – Accumulated Other Comprehensive Loss

The components of Accumulated other comprehensive loss on the Consolidated Balance Sheets at December 31, 2021 and December 31, 2020 and the changes during 2021 and 2020 are presented net of taxes in the following table.


(Thousands of dollars)	Foreign Currency Translation Gains (Losses)		Retirement and Postretirement Benefit Plan Adjustments		Deferred Loss on Interest Rate Derivative Hedges		Total
Balance at December 31, 2019	(353,252)		(218,015)		(2,894)		(574,161)
2020 components of other comprehensive income (loss):
Before reclassifications to income	29,241		(70,815)		—		(41,574)
Reclassifications to income	—		13,198	¹	1,204	²	14,402
Net other comprehensive income	29,241		(57,617)		1,204		(27,172)
Balance at December 31, 2020	(324,011)		(275,632)		(1,690)		(601,333)
2021 components of other comprehensive income (loss):
Before reclassifications to income	12,116		40,095		—		52,211
Reclassifications to income	—		19,721	¹	1,690	²	21,411
Net other comprehensive income (loss)	12,116		59,816		1,690		73,622
Balance at December 31, 2021	$	(311,895)	(215,816)		—		(527,711)

1 Reclassifications before taxes of $23,503 and $17,694 are included in the computation of net periodic benefit expense in 2021 and 2020, respectively. See Note K for additional information. Related income taxes of $3,782 and $4,496 are included in income tax expense in 2021 and 2020, respectively.

2 Reclassifications before taxes of $2,140 and $1,525 are included in Interest expense in 2021 and 2020, respectively. Related income taxes of $450 and $321 are included in income tax expense in 2021 and 2020, respectively. See Note L for additional information.