Accumulated Other Comprehensive Loss

9 Months Ended

Sep. 30, 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	—		837		(12,954)		(12,117)
Amounts reclassified from accumulated other comprehensive loss	4,533		(1,652)		—		2,881
Other comprehensive loss	4,533		(815)		(12,954)		(9,236)
Balance at September 30, 2024	$	(128,990)	$	(1,031)	$	(130,576)	$	(260,597)

The amounts reclassified to earnings from the unrecognized net defined benefit plan costs component of accumulated other comprehensive loss for the three and nine months ended September 30, 2024 were net (losses) of $(2.2) million and $(5.7) million, respectively, excluding income tax benefits of $0.4 million and $1.2 million, respectively. For the three and nine months ended September 30, 2024, these net (losses) consisted primarily of amortization of net actuarial (losses) of $(2.1) million and $(5.7) million, respectively. 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 and nine months ended September 30, 2024 were not significant.

Other comprehensive loss before reclassifications related to foreign currency translation for the three and nine months ended September 30, 2024 consisted of (i) foreign currency gains (losses) related to translation of quarter end financial statements of foreign subsidiaries utilizing a functional currency other than the U.S. dollar of $54.8 million and $(8.9) million, respectively, and (ii) foreign currency (losses) related to our net investment hedges of $(20.9) million and $(5.4) million, respectively, excluding income tax benefits of $5.0 million and $1.3 million, respectively. See Note 7 for further discussion.