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Accumulated Other Comprehensive Income (AOCI) (Tables)
 6 Months Ended
Jun. 30, 2021
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Schedule of Accumulated Other Comprehensive Income (Loss)
The table below presents changes in the components of AOCI for the period December 31, 2020 to June 30, 2021:
(in thousands)
Translation
adjustments
Pension and
postretirement
liability
adjustments
Derivative
adjustment
Total Other
Comprehensive
Income
December 31, 2020$(83,203)$(39,661)$(9,544)$(132,408)
Other comprehensive income/(loss) before reclassifications, net of tax
(2,181)393 (262)(2,050)
Interest expense related to swaps reclassified to the Consolidated Statements of Income, net of tax— — 2,408 2,408 
Pension and postretirement liability adjustments reclassified to Consolidated Statements of Income, net of tax
— (14)— (14)
Net current period other comprehensive income(2,181)379 2,146 344 
June 30, 2021$(85,384)$(39,282)$(7,398)$(132,064)
The table below presents changes in the components of AOCI for the period December 31, 2019 to June 30, 2020:
(in thousands)
Translation
adjustments
Pension and
postretirement
liability
adjustments
Derivative
adjustment
Total Other
Comprehensive
Income
December 31, 2019$(122,852)$(49,994)$(3,135)$(175,981)
Other comprehensive income/(loss) before reclassifications, net of tax(16,783)581 (9,028)(25,230)
Pension/postretirement curtailment loss, net of tax— 265 — 265 
Interest expense related to swaps reclassified to the Consolidated Statements of Income, net of tax— — 1,133 1,133 
Pension and postretirement liability adjustments reclassified to Consolidated Statements of Income, net of tax— 186 — 186 
Net current period other comprehensive income(16,783)1,032 (7,895)(23,646)
June 30, 2020$(139,635)$(48,962)$(11,030)$(199,627)
Reclassification out of Accumulated Other Comprehensive Income
The table below presents the expense/(income) amounts reclassified from AOCI, and the line items of the Statement of Income that were affected for the three and six months ended June 30, 2021 and 2020:
Three months ended June 30,Six months ended June 30,
(in thousands)
2021202020212020
Pretax Derivative valuation reclassified from Accumulated Other Comprehensive Income:
Expense/(income) related to interest rate swaps included in Income before taxes (a)
$1,770 $1,116 $3,246 $1,523 
Income tax effect(457)(286)(838)(390)
Effect on net income due to items reclassified from Accumulated Other Comprehensive Income
$1,313 $830 $2,408 $1,133 
Pretax pension and postretirement liabilities reclassified from Accumulated Other Comprehensive Income:
Pension/postretirement curtailment— 378 — 378 
Amortization of prior service credit(1,118)(1,114)(2,237)(2,228)
Amortization of net actuarial loss1,108 1,232 2,217 2,476 
Total pretax amount reclassified (b)(10)496 (20)626 
Income tax effect3 (143)6 (175)
Effect on net income due to items reclassified from Accumulated Other Comprehensive Income$(7)$353 $(14)$451 
(a)Included in Interest expense, net are payments related to the interest rate swap agreements and amortization of swap buyouts (see Notes 14 and 15).
(b)These accumulated other comprehensive income components are included in the computation of net periodic pension cost (see Note 3).