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Accumulated Other Comprehensive Income (AOCI)
 3 Months Ended
Mar. 31, 2022
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Accumulated Other Comprehensive Income (AOCI) Accumulated Other Comprehensive Income (AOCI)
The table below presents changes in the components of AOCI for the period December 31, 2021 to March 31, 2022:
(in thousands)
Translation
adjustments
Pension and
postretirement
liability
adjustments
Derivative
valuation
adjustment
Total Other
Comprehensive
Income
December 31, 2021$(105,880)$(38,490)$(1,614)$(145,984)
Other comprehensive income/(loss) before reclassifications, net of tax
(1,730)179 8,752 7,201 
Interest expense related to swaps reclassified to the Consolidated Statements of Income, net of tax— — 1,266 1,266 
Pension and postretirement liability adjustments reclassified to Consolidated Statements of Income, net of tax
— (105)— (105)
Net current period other comprehensive income(1,730)74 10,018 8,362 
March 31, 2022$(107,610)$(38,416)$8,404 $(137,622)

The table below presents changes in the components of AOCI for the period December 31, 2020 to March 31, 2021:
(in thousands)
Translation
adjustments
Pension and
postretirement
liability
adjustments
Derivative
valuation
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(15,955)516 (343)(15,782)
Interest expense related to swaps reclassified to the Consolidated Statements of Income, net of tax— — 1,095 1,095 
Pension and postretirement liability adjustments reclassified to Consolidated Statements of Income, net of tax— (7)— (7)
Net current period other comprehensive income(15,955)509 752 (14,694)
March 31, 2021$(99,158)$(39,152)$(8,792)$(147,102)
The components of our Accumulated Other Comprehensive Income that are reclassified to the Statement of Income relate to our pension and postretirement plans and interest rate swaps.
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 months ended March 31, 2022 and 2021:
Three months ended March 31,
(in thousands)
20222021
Pretax Derivative valuation reclassified from Accumulated Other Comprehensive Income:
Expense/(income) related to interest rate swaps included in Income before taxes (a)
$1,696 $1,476 
Income tax effect(430)(381)
Effect on net income due to items reclassified from Accumulated Other Comprehensive Income
$1,266 $1,095 
Pretax pension and postretirement liabilities reclassified from Accumulated Other Comprehensive Income:
Amortization of prior service credit(1,123)(1,119)
Amortization of net actuarial loss
971 1,109 
Total pretax amount reclassified (b)(152)(10)
Income tax effect
47 3 
Effect on net income due to items reclassified from Accumulated Other Comprehensive Income$(105)$(7)
(a)Included in Interest expense, net are payments related to the interest rate swap agreements and amortization of swap buyouts (see Notes 13 and 14).
(b)These accumulated other comprehensive income components are included in the computation of net periodic pension cost (see Note 3).