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ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
 9 Months Ended
Sep. 30, 2023
Equity [Abstract]  
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
Comprehensive income for the three and nine months ended September 30, 2023 and 2022:
 Three Months Ended September 30,Nine Months Ended September 30,
Dollars in thousands2023202220232022
Net income $19,497 $49,915 $47,907 $127,604 
Foreign currency translation adjustment(12,841)(21,392)(8,632)(45,142)
Change in unrealized loss/(gain) on derivatives, net of tax10,090 27,213 112 82,957 
Pension liability adjustment, net of tax(334)(45)— (99)
Comprehensive income, net$16,412 $55,691 $39,387 $165,320 
Changes in accumulated other comprehensive income by component between December 31, 2022 and September 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)17,601 — (8,632)8,969 
Less: Amounts reclassified from accumulated other comprehensive income, net17,489 — — 17,489 
Net current-period other comprehensive gain (loss)112 — (8,632)(8,520)
Balance at September 30, 2023
$22,929 $9,322 $(30,506)$1,745 
For the nine months ended September 30, 2023, the Company reclassified a gain of $17.5 million from accumulated other comprehensive income to other income, net and interest income, respectively.