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ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)
 12 Months Ended
Dec. 31, 2023
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Schedule of Accumulated Other Comprehensive Loss

Amounts related to the changes in accumulated other comprehensive loss were as follows (in thousands):

 

 

Unrealized
Gain (Loss) on
Available-for-
Sale-Securities

 

 

Net Unrealized
Gain (Loss) on
Retirement Plan (2)

 

 

Change in Cumulative
Foreign Currency
Translation Adjustment

 

 

Total

 

 

Affected Line items in the
Consolidated Statements of
Income

Balance January 1, 2021, net of tax

 

$

91

 

 

$

(36,075

)

 

$

(35

)

 

$

(36,019

)

 

 

Other comprehensive (loss) gain
   before reclassification

 

 

(233

)

 

 

13,620

 

 

 

(39

)

 

 

13,348

 

 

 

Plan amendment cost

 

 

—

 

 

 

(283

)

 

 

—

 

 

 

(283

)

 

 


Reclassification to net income (1)

 

 

—

 

 

 

4,719

 

 

 

—

 

 

 

4,719

 

 

Selling, general and administrative,
research and development and
cost of sales

Change during period

 

 

(233

)

 

 

18,056

 

 

 

(39

)

 

 

17,784

 

 

 

Balance December 31, 2021, net of tax

 

 

(142

)

 

 

(18,019

)

 

 

(74

)

 

 

(18,235

)

 

 

Other comprehensive (loss) gain
   before reclassification

 

 

(7,745

)

 

 

5,971

 

 

 

(480

)

 

 

(2,254

)

 

 



Reclassification to net income (1)

 

 

—

 

 

 

2,037

 

 

 

—

 

 

 

2,037

 

 

Selling, general and administrative,
research and development and
cost of sales

Change during period

 

 

(7,745

)

 

 

8,008

 

 

 

(480

)

 

 

(217

)

 

 

Balance December 31, 2022, net of tax

 

 

(7,887

)

 

 

(10,011

)

 

 

(554

)

 

 

(18,452

)

 

 

Other comprehensive (loss) gain
   before reclassification

 

 

8,745

 

 

 

7,207

 

 

 

418

 

 

 

16,370

 

 

 



Reclassification to net income (1)

 

 

—

 

 

 

996

 

 

 

—

 

 

 

996

 

 

Selling, general and administrative,
research and development and
cost of sales

Change during period

 

 

8,745

 

 

 

8,203

 

 

 

418

 

 

 

17,366

 

 

 

Balance December 31, 2023, net of tax

 

$

858

 

 

$

(1,808

)

 

$

(136

)

 

$

(1,086

)

 

 

 

(1)
The Company reclassified amortization of prior service cost, actuarial loss and plan amendment cost for its retirement plan from accumulated other comprehensive loss to net income of $1.0 million, $2.0 million and $4.7 million for the years ended December 31, 2023, 2022 and 2021, respectively.
Refer to Note 17: Employee Retirement Plans