XML 34 R24.htm IDEA: XBRL DOCUMENT v3.23.3
Accumulated Other Comprehensive Loss
 9 Months Ended
Sep. 30, 2023
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Accumulated Other Comprehensive Loss

Note 15 – Accumulated Other Comprehensive Loss

The changes in accumulated other comprehensive loss by component were as follows:

 

 

 

Three Months Ended September 30,

 

 

 

2023

 

 

2022

 

 

 

Foreign

 

 

 

 

 

 

 

 

 

 

 

Foreign

 

 

 

 

 

 

 

 

 

 

 

 

Currency

 

 

Derivative

 

 

 

 

 

 

 

 

Currency

 

 

Derivative

 

 

 

 

 

 

 

 

 

Translation

 

 

Instruments,

 

 

 

 

 

 

 

 

Translation

 

 

Instruments,

 

 

 

 

 

 

 

(in thousands)

 

Adjustments

 

 

Net of Tax

 

 

Other

 

 

Total

 

 

Adjustments

 

 

Net of Tax

 

 

Other

 

 

Total

 

Beginning balance

 

$

(14,772

)

 

$

2,932

 

 

$

(712

)

 

$

(12,552

)

 

$

(17,385

)

 

$

191

 

 

$

(1,098

)

 

$

(18,292

)

Other comprehensive gain (loss) before reclassifications

 

 

(1,891

)

 

 

560

 

 

 

(110

)

 

 

(1,441

)

 

 

(3,541

)

 

 

828

 

 

 

(22

)

 

 

(2,735

)

Amounts reclassified from accumulated other comprehensive loss

 

 

—

 

 

 

(1,181

)

 

 

—

 

 

 

(1,181

)

 

 

—

 

 

 

(98

)

 

 

—

 

 

 

(98

)

Net current period other comprehensive gain (loss)

 

 

(1,891

)

 

 

(621

)

 

 

(110

)

 

 

(2,622

)

 

 

(3,541

)

 

 

730

 

 

 

(22

)

 

 

(2,833

)

Ending balance

 

$

(16,663

)

 

$

2,311

 

 

$

(822

)

 

$

(15,174

)

 

$

(20,926

)

 

$

921

 

 

$

(1,120

)

 

$

(21,125

)

 

 

 

 

Nine Months Ended September 30,

 

 

 

2023

 

 

2022

 

 

 

Foreign

 

 

 

 

 

 

 

 

 

 

 

Foreign

 

 

 

 

 

 

 

 

 

 

 

 

Currency

 

 

Derivative

 

 

 

 

 

 

 

 

Currency

 

 

Derivative

 

 

 

 

 

 

 

 

 

Translation

 

 

Instruments,

 

 

 

 

 

 

 

 

Translation

 

 

Instruments,

 

 

 

 

 

 

 

(in thousands)

 

Adjustments

 

 

Net of Tax

 

 

Other

 

 

Total

 

 

Adjustments

 

 

Net of Tax

 

 

Other

 

 

Total

 

Beginning balance

 

$

(15,877

)

 

$

788

 

 

$

(1,144

)

 

$

(16,233

)

 

$

(12,729

)

 

$

(3,372

)

 

$

(1,057

)

 

$

(17,158

)

Other comprehensive gain (loss) before reclassifications

 

 

(786

)

 

 

3,999

 

 

 

322

 

 

 

3,535

 

 

 

(8,197

)

 

 

4,460

 

 

 

(63

)

 

 

(3,800

)

Amounts reclassified from accumulated other comprehensive loss

 

 

—

 

 

 

(2,476

)

 

 

—

 

 

 

(2,476

)

 

 

—

 

 

 

(167

)

 

 

—

 

 

 

(167

)

Net current period other comprehensive gain (loss)

 

 

(786

)

 

 

1,523

 

 

 

322

 

 

 

1,059

 

 

 

(8,197

)

 

 

4,293

 

 

 

(63

)

 

 

(3,967

)

Ending balance

 

$

(16,663

)

 

$

2,311

 

 

$

(822

)

 

$

(15,174

)

 

$

(20,926

)

 

$

921

 

 

$

(1,120

)

 

$

(21,125

)

 

Unrealized gains and losses relating to derivative instruments, reclassified from accumulated other comprehensive loss for the three and nine months ended September 30, 2023 and 2022, were recognized as a component of cost of sales in the condensed consolidated statements of income, which relate to the Company's forward currency exchange contracts accounted for as cash flow hedges. See Note 14 for further explanation of the change in derivative instruments that is recorded to accumulated other comprehensive loss.