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Accumulated Other Comprehensive Income (AOCI)
 6 Months Ended
Jun. 30, 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 June 30, 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
(41,391)521 11,228 (29,642)
Interest expense related to swaps reclassified to the Consolidated Statements of Income, net of tax— — 2,139 2,139 
Pension and postretirement liability adjustments reclassified to Consolidated Statements of Income, net of tax
— (213)— (213)
Net current period other comprehensive income(41,391)308 13,367 (27,716)
June 30, 2022$(147,271)$(38,182)$11,753 $(173,700)

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
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(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 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 and six months ended June 30, 2022 and 2021:
Three months ended June 30,Six months ended June 30,
(in thousands)
2022202120222021
Pretax Derivative valuation reclassified from Accumulated Other Comprehensive Income:
Expense/(income) related to interest rate swaps included in Income before taxes (a)
$1,168 $1,770 $2,864 $3,246 
Income tax effect(295)(457)(725)(838)
Effect on net income due to items reclassified from Accumulated Other Comprehensive Income
$873 $1,313 $2,139 $2,408 
Pretax pension and postretirement liabilities reclassified from Accumulated Other Comprehensive Income:
Amortization of prior service credit(1,122)(1,118)(2,245)(2,237)
Amortization of net actuarial loss
967 1,108 1,938 2,217 
Total pretax amount reclassified (b)(155)(10)(307)(20)
Income tax effect
47 3 94 6 
Effect on net income due to items reclassified from Accumulated Other Comprehensive Income$(108)$(7)$(213)$(14)
(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).