Accumulated Other Comprehensive Loss

3 Months Ended

Mar. 31, 2024

Accumulated other comprehensive loss is reported in our Condensed Consolidated Statements of Stockholders’ Equity. Amounts included in accumulated other comprehensive loss, net of tax, were as follows:


	Unrecognized Net Defined Benefit Plan Costs		Change in Fair Value of Derivatives		Foreign Currency Translation		Total
	(Dollars in thousands)
Balance at December 31, 2023	$	(133,523)	$	(216)	$	(117,622)	$	(251,361)
Other comprehensive loss before reclassifications	—		2,884		(24,457)		(21,573)
Amounts reclassified from accumulated other comprehensive loss	1,403		(459)		—		944
Other comprehensive loss	1,403		2,425		(24,457)		(20,629)
Balance at March 31, 2024	$	(132,120)	$	2,209	$	(142,079)	$	(271,990)

The amounts reclassified to earnings from the unrecognized net defined benefit plan costs component of accumulated other comprehensive loss for the three months ended March 31, 2024 were net (losses) of $(1.8) million, excluding income tax benefits of $0.4 million. For the three months ended March 31, 2024, these net (losses) consisted primarily of amortization of net actuarial (losses) of $(1.8) million. Amortization of net actuarial losses and net prior service cost was recorded in other pension and postretirement income in our Condensed Consolidated Statements of Income. See Note 10 for further information.

The amounts reclassified to earnings from the change in fair value of derivatives component of accumulated other comprehensive loss for the three months ended March 31, 2024 were not significant.

Other comprehensive loss before reclassifications related to foreign currency translation for the three months ended March 31, 2024 consisted of (i) foreign currency (losses) related to translation of quarter end financial statements of foreign subsidiaries utilizing a functional currency other than the U.S. dollar of $(33.5) million, (ii) foreign currency gains related to intra-entity foreign currency transactions that are of a long-term investment nature of $0.1 million, and (iii) foreign currency gains related to our net investment hedges of $11.6 million, excluding an income tax (provision) of $(2.7) million. See Note 7 for further discussion.