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Accumulated Other Comprehensive Income ("AOCI") (Tables)
 9 Months Ended
Sep. 30, 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 September 30, 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 $(133,168)
Other comprehensive income/(loss) before reclassifications, net of tax
(12,472)(285)298 (12,459)
Interest (expense)/income related to swaps reclassified to the Consolidated Statements of Income, net of tax— — (8,212)(8,212)
Pension and postretirement liability adjustments reclassified to Consolidated Statements of Income, net of tax
— 290 — 290 
Net current period other comprehensive income(12,472)5 (7,914)(20,381)
September 30, 2024$(137,373)$(17,341)$1,165 $(153,549)
The table below presents changes in the components of AOCI for the period from December 31, 2022 to September 30, 2023:
(in thousands)
Translation
adjustments
Pension and
postretirement
liability
adjustments
Derivative
valuation
adjustment
Total Other
Comprehensive
Income
December 31, 2022$(146,851)$(15,783)$17,707 $(144,927)
Other comprehensive income/(loss) before reclassifications, net of tax(4,326)(183)3,386 (1,123)
Interest (expense)/income related to swaps reclassified to the Consolidated Statements of Income, net of tax— — (8,136)(8,136)
Pension and postretirement liability adjustments reclassified to Consolidated Statements of Income, net of tax— (1,423)— (1,423)
Net current period other comprehensive income(4,326)(1,606)(4,750)(10,682)
September 30, 2023$(151,177)$(17,389)$12,957 $(155,609)
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 and nine ended September 30, 2024 and 2023:
Three months ended September 30,Nine months ended September 30,
(in thousands)
2024202320242023
Pre-tax Derivative valuation reclassified from Accumulated Other Comprehensive Income:
Interest expense/(income), net related to interest rate swaps included in Income before taxes
$(2,675)$(3,990)$(10,893)$(10,891)
Income tax effect658 1,009 2,681 2,755 
Effect on net income due to items reclassified from Accumulated Other Comprehensive Income
$(2,017)$(2,981)$(8,212)$(8,136)
Pre-tax pension and postretirement liabilities reclassified from Accumulated Other Comprehensive Income:
Amortization of prior service credit$(37)$(1,031)$(113)$(3,092)
Amortization of net actuarial loss
176 349 530 1,042 
Total pre-tax amount reclassified (a)
139 (682)417 (2,050)
Income tax effect(42)208 (127)627 
Effect on net income due to items reclassified from Accumulated Other Comprehensive Income$97 $(474)$290 $(1,423)

(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).