Accumulated Other Comprehensive Loss

12 Months Ended

Dec. 31, 2024

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

Accumulated Other Comprehensive Loss

Note N – Accumulated Other Comprehensive Loss

The components of ”Accumulated other comprehensive loss” on the Consolidated Balance Sheets for the periods presented and the changes during the respective periods are shown 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)
2023 components of other comprehensive income (loss):
Before reclassifications to income	36,598		(27,580)			9,018
Reclassifications to income	—		4,551		¹	4,551
Net other comprehensive income	36,598		(23,029)			13,569
Balance at December 31, 2023	(381,632)		(139,485)			(521,117)
2024 components of other comprehensive income (loss):
Before reclassifications to income	(134,692)		23,713			(110,979)
Reclassifications to income	—		4,024		¹	4,024
Net other comprehensive income (loss)	(134,692)		27,737			(106,955)
Balance at December 31, 2024	$	(516,324)	$	(111,748)		$	(628,072)

1 Reclassifications before taxes of $5.4 million and $5.6 million are included in the computation of net periodic benefit expense in 2024 and 2023, respectively. See Note J for additional information. Related income taxes of $1.4 million and $1.1 million are included in income tax expense in 2024 and 2023, respectively.