Accumulated Other Comprehensive Loss

6 Months Ended

Jun. 30, 2023

Equity [Abstract]

Accumulated Other Comprehensive Loss

Accumulated Other Comprehensive Loss

Changes in Accumulated other comprehensive loss were as follows (in thousands):

	Three months ended June 30, 2023
	Foreign currency translation adjustments		Derivative financial instruments		Pension and postretirement benefit plans		Total
Balance, beginning of period	$	(70,150)	$	(32,322)	$	(252,180)	$	(354,652)
Other comprehensive (loss) income, before reclassifications	(23,296)		25,694		—		2,398
Income tax benefit (expense)	3,659		(6,027)		—		(2,368)
	(19,637)		19,667		—		30
Reclassifications:
Net gain on derivative financial instruments	—		(703)		—		(703)
Prior service credits(a)	—		—		22		22
Actuarial gains(a)	—		—		(1,278)		(1,278)
Reclassifications before tax	—		(703)		(1,256)		(1,959)
Income tax benefit	—		162		295		457
	—		(541)		(961)		(1,502)
Other comprehensive (loss) income	(19,637)		19,126		(961)		(1,472)
Balance, end of period	$	(89,787)	$	(13,196)	$	(253,141)	$	(356,124)
	Three months ended June 26, 2022
	Foreign currency translation adjustments		Derivative financial instruments		Pension and postretirement benefit plans		Total
Balance, beginning of period	$	(48,522)	$	7,923	$	(189,011)	$	(229,610)
Other comprehensive loss, before reclassifications	(31,600)		(53,909)		—		(85,509)
Income tax benefit	579		11,731		—		12,310
	(31,021)		(42,178)		—		(73,199)
Reclassifications:
Net loss on derivative financial instruments	—		70,702		—		70,702
Prior service credits(a)	—		—		(909)		(909)
Actuarial losses(a)	—		—		8,100		8,100
Reclassifications before tax	—		70,702		7,191		77,893
Income tax expense	—		(15,672)		(1,688)		(17,360)
	—		55,030		5,503		60,533
Other comprehensive (loss) income	(31,021)		12,852		5,503		(12,666)
Balance, end of period	$	(79,543)	$	20,775	$	(183,508)	$	(242,276)

(a)    Amounts reclassified are included in the computation of net periodic benefit (income) cost, discussed further in Note 13.

	Six months ended June 30, 2023
	Foreign currency translation adjustments		Derivative financial instruments		Pension and postretirement benefit plans		Total
Balance, beginning of period	$	(80,271)	$	(10,440)	$	(251,218)	$	(341,929)
Other comprehensive (loss) income, before reclassifications	(12,320)		24,454		—		12,134
Income tax benefit (expense)	2,804		(5,654)		—		(2,850)
	(9,516)		18,800		—		9,284
Reclassifications:
Net gain on derivative financial instruments	—		(28,168)		—		(28,168)
Prior service credits(a)	—		—		44		44
Actuarial gains(a)	—		—		(2,556)		(2,556)
Reclassifications before tax	—		(28,168)		(2,512)		(30,680)
Income tax benefit	—		6,612		589		7,201
	—		(21,556)		(1,923)		(23,479)
Other comprehensive loss	(9,516)		(2,756)		(1,923)		(14,195)
Balance, end of period	$	(89,787)	$	(13,196)	$	(253,141)	$	(356,124)

	Six months ended June 26, 2022
	Foreign currency translation adjustments		Derivative financial instruments		Pension and postretirement benefit plans		Total
Balance, beginning of period	$	(44,401)	$	(2,005)	$	(194,513)	$	(240,919)
Other comprehensive loss, before reclassifications	(35,404)		(61,139)		—		(96,543)
Income tax benefit	262		13,224		—		13,486
	(35,142)		(47,915)		—		(83,057)
Reclassifications:
Net loss on derivative financial instruments	—		90,748		—		90,748
Prior service credits(a)	—		—		(1,818)		(1,818)
Actuarial losses(a)	—		—		16,200		16,200
Reclassifications before tax	—		90,748		14,382		105,130
Income tax expense	—		(20,053)		(3,377)		(23,430)
	—		70,695		11,005		81,700
Other comprehensive (loss) income	(35,142)		22,780		11,005		(1,357)
Balance, end of period	$	(79,543)	$	20,775	$	(183,508)	$	(242,276)

(a)Amounts reclassified are included in the computation of net periodic benefit (income) cost, discussed further in Note 15