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ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
 6 Months Ended
Jun. 30, 2023
Equity [Abstract]  
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
Comprehensive income for the six months ended June 30, 2023 and 2022 was as follows:
 Three Months Ended June 30,Six Months Ended June 30,
Dollars in thousands2023202220232022
Net income $4,184 $44,788 $28,410 $77,689 
Foreign currency translation adjustment133 (18,067)4,209 (23,749)
Change in unrealized loss/(gain) on derivatives, net of tax(2,601)25,922 (9,978)55,744 
Pension liability adjustment, net of tax231 (45)334 (54)
Comprehensive income, net$1,947 $52,598 $22,975 $109,630 
Changes in accumulated other comprehensive income by component between December 31, 2022 and June 30, 2023 are presented in the table below, net of tax:
Dollars in thousandsGains and Losses on DerivativesDefined Benefit Pension ItemsForeign Currency ItemsTotal
Balance at January 1, 2023
$22,817 $9,322 $(21,874)$10,265 
Other comprehensive gain (loss)(9,565)334 4,209 (5,022)
Less: Amounts reclassified from accumulated other comprehensive income, net413 — — 413 
Net current-period other comprehensive gain (loss)(9,978)334 4,209 (5,435)
Balance at June 30, 2023
$12,839 $9,656 $(17,665)$4,830 
For the six months ended June 30, 2023, the Company reclassified a gain of $9.4 million and a loss of $9.0 million from accumulated other comprehensive income to other income, net and interest income, respectively.