Accumulated Other Comprehensive Loss

6 Months Ended

Jun. 30, 2023

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

Note M – Accumulated Other Comprehensive Loss

The components of “Accumulated other comprehensive loss” on the Consolidated Balance Sheets at December 31, 2022 and June 30, 2023 and the changes during the six-month period ended June 30, 2023 are presented net of taxes in the following table.


(Thousands of dollars)	Foreign Currency Translation Gains (Losses)		Retirement and Postretirement Benefit Plan Adjustments		Total
Balance at December 31, 2022	$	(418,230)	$	(116,456)	$	(534,686)
Components of other comprehensive income (loss):
Before reclassifications to income	36,752		–		36,752
Reclassifications to income ¹	–		2,151		2,151
Net other comprehensive income (loss)	36,752		2,151		38,903
Balance at June 30, 2023	$	(381,478)	$	(114,305)	$	(495,783)

1 Reclassifications before taxes of $2,669 thousand are included in the computation of net periodic benefit expense for the six-month period ended June 30, 2023. See Note H for additional information. Related income taxes of $518 thousand are included in “Income tax expense (benefit)” on the Consolidated Statements of Operations for the six-month period ended June 30, 2023.