ACCUMULATED OTHER COMPREHENSIVE LOSS

9 Months Ended

Sep. 30, 2021

Comprehensive income for the nine months ended September 30, 2021 and 2020 was as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
Dollars in thousands	2021		2020		2021		2020
Net income	$	43,229	$	32,337	$	123,691	$	41,148
Foreign currency translation adjustment	(7,815)		21,181		(13,058)		24,801
Change in unrealized loss on derivatives, net of tax	10,964		(9,679)		40,075		(39,814)
Pension liability adjustment, net of tax	39		(291)		267		(498)
Comprehensive income, net	$	46,417	$	43,548	$	150,975	$	25,637

Changes in accumulated other comprehensive loss by component between December 31, 2020 and September 30, 2021 are presented in the table below, net of tax:


Dollars in thousands	Gains and Losses on Derivatives		Defined Benefit Pension Items		Foreign Currency Items		Total
Balance at January 1, 2021	$	(82,249)	$	(5,105)	$	13,295	$	(74,059)
Other comprehensive income (loss)	60,497		267		(13,058)		47,706
Less: Amounts reclassified from accumulated other comprehensive loss	20,421		—		—		20,421
Net current-period other comprehensive income (loss)	40,076		267		(13,058)		27,285
Balance at September 30, 2021	$	(42,173)	$	(4,838)	$	237	$	(46,774)

For the nine months ended September 30, 2021, the Company reclassified a gain of $29.5 million and a loss of $9.1 million from accumulated other comprehensive loss to other income, net and interest income.