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Accumulated Other Comprehensive Income ("AOCI") (Tables)
 3 Months Ended
Mar. 31, 2024
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 from December 31, 2023 to March 31, 2024:
(in thousands)
Translation
adjustments
Pension and
postretirement
liability
adjustments
Derivative
valuation
adjustment
Total Other
Comprehensive
Income
December 31, 2023$(124,901)$(17,346)$9,079 $(133,168)
Other comprehensive income/(loss) before reclassifications, net of tax
(12,116)285 892 (10,939)
Interest (expense)/income related to swaps reclassified to the Consolidated Statements of Income, net of tax— — (3,016)(3,016)
Pension and postretirement liability adjustments reclassified to Consolidated Statements of Income, net of tax
— 97 — 97 
Net current period other comprehensive income(12,116)382 (2,124)(13,858)
March 31, 2024$(137,017)$(16,964)$6,955 $(147,026)
The table below presents changes in the components of AOCI for the period from December 31, 2022 to March 31, 2023:
(in thousands)
Translation
adjustments
Pension and
postretirement
liability
adjustments
Derivative
valuation
adjustment
Total Other
Comprehensive
Income
December 31, 2022$(146,851)$(15,783)$17,707 $(144,927)
Other comprehensive income/(loss) before reclassifications, net of tax13,881 (441)(494)12,946 
Interest (expense)/income related to swaps reclassified to the Consolidated Statements of Income, net of tax— — (2,408)(2,408)
Pension and postretirement liability adjustments reclassified to Consolidated Statements of Income, net of tax— (475)— (475)
Net current period other comprehensive income13,881 (916)(2,902)10,063 
March 31, 2023$(132,970)$(16,699)$14,805 $(134,864)
Schedule of Reclassification Out of Accumulated Other Comprehensive Income
The table below presents the expense/(income) amounts reclassified from AOCI, and the line items of the Consolidated Statements of Income that were affected for the three months ended March 31, 2024 and 2023:
Three months ended March 31,
(in thousands)
20242023
Pre-tax Derivative valuation reclassified from Accumulated Other Comprehensive Income:
Other (income)/expense, net related to interest rate swaps included in Income before taxes$(4,038)$(3,223)
Income tax effect1,022 815 
Effect on net income due to items reclassified from Accumulated Other Comprehensive Income
$(3,016)$(2,408)
Pre-tax pension and postretirement liabilities reclassified from Accumulated Other Comprehensive Income:
Amortization of prior service credit$(38)$(1,031)
Amortization of net actuarial loss
178 346 
Total pre-tax amount reclassified (a)
140 (685)
Income tax effect(43)210 
Effect on net income due to items reclassified from Accumulated Other Comprehensive Income$97 $(475)

(a)These accumulated other comprehensive income components are included in the computation of net periodic pension cost (see Note 3. Pensions and Other Postretirement Benefit Plans).