Comprehensive Income

9 Months Ended

Sep. 30, 2024

Comprehensive income consists of the following:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Net income	$	48,984	$	15,837	$	98,668	$	31,388

Other comprehensive income (loss):
Cash flow hedging gain (loss), net of income tax (income tax expense (benefit) of $(2,264) and $873 for the three months ended September 30, 2024 and 2023, respectively, and $(1,441) and $1,315 for the nine months ended September 30, 2024 and 2023, respectively)	(7,077)		2,730		(4,504)		4,110
Pension liability, net of income tax (income tax expense of $97 and $129 for the three months ended September 30, 2024 and 2023, respectively, and $291 and $387 for the nine months ended September 30, 2024 and 2023, respectively)	301		403		904		1,210
Foreign currency translation adjustment	6,493		(4,145)		(947)		(1,421)

Comprehensive income	$	48,701	$	14,825	$	94,121	$	35,287

Accumulated other comprehensive loss consists of the following:


	Cash Flow Hedging Gain (Loss)		Pension Liability		Cumulative Translation Adjustments		Accumulated Other Comprehensive Loss
Balance, December 31, 2023	$	117	$	(18,766)	$	(31,521)	$	(50,170)

Other comprehensive loss before reclassifications, net of tax	(1,754)		—		(947)		(2,701)
Amounts reclassified from accumulated other comprehensive income (loss) before taxa	(3,630)		1,195		—		(2,435)
Income tax	880		(291)		—		589

Net current-period other comprehensive income (loss)	(4,504)		904		(947)		(4,547)

Balance, September 30, 2024	$	(4,387)	$	(17,862)	$	(32,468)	$	(54,717)


	Cash Flow Hedging Gain (Loss)		Pension Liability		Cumulative Translation Adjustments		Accumulated Other Comprehensive Loss
Balance, December 31, 2022	$	2,497	$	(23,749)	$	(36,606)	$	(57,858)

Other comprehensive income (loss) before reclassifications, net of tax	8,692		—		(1,421)		7,271
Amounts reclassified from accumulated other comprehensive income (loss) before taxa	(6,048)		1,597		—		(4,451)
Income tax	1,466		(387)		—		1,079

Net current-period other comprehensive income (loss)	4,110		1,210		(1,421)		3,899

Balance, September 30, 2023	$	6,607	$	(22,539)	$	(38,027)	$	(53,959)

(a) The cash flow hedging gain (loss) and pension liability accumulated other comprehensive loss components are included in sales or cost of sales and as a component of net periodic pension cost, respectively. Refer to Note 6 and Note 12, respectively, for further details.