Accumulated Other Comprehensive Income (Loss)

12 Months Ended

Dec. 31, 2022

Accumulated Other Comprehensive Income (Loss) [Abstract]

Accumulated Other Comprehensive Income (Loss)

Note 10 – Accumulated Other Comprehensive Income (Loss)

The cumulative balance of each component of other comprehensive income (loss) and the income tax effects allocated to each component are as follows:

	Pension and other post- retirement actuarial items			Currency translation adjustment			Total
Balance at January 1, 2020	$	(68,020	)	$	41,374		$	(26,646	)
Other comprehensive income before reclassifications		(22,055	)		49,260		$	27,205
Tax effect		5,288			-		$	5,288
Other comprehensive income before reclassifications, net of tax		(16,767	)		49,260		$	32,493
Amounts reclassified out of AOCI		10,168			-		$	10,168
Tax effect		(2,456	)		-		$	(2,456	)
Amounts reclassified out of AOCI, net of tax		7,712			-		$	7,712
Net comprehensive income (loss)	$	(9,055	)	$	49,260		$	40,205
Balance at December 31, 2020	$	(77,075	)	$	90,634		$	13,559
Other comprehensive income before reclassifications		12,592			(51,978	)	$	(39,386	)
Tax effect		(2,509	)		-		$	(2,509	)
Other comprehensive income before reclassifications, net of tax		10,083			(51,978	)	$	(41,895	)
Amounts reclassified out of AOCI		10,677			-		$	10,677
Tax effect		(2,593	)		-		$	(2,593	)
Amounts reclassified out of AOCI, net of tax		8,084			-		$	8,084
Net comprehensive income (loss)	$	18,167		$	(51,978	)	$	(33,811	)
Balance at December 31, 2021	$	(58,908	)	$	38,656		$	(20,252	)
Other comprehensive income before reclassifications		60,949			(41,885	)	$	19,064
Tax effect		(15,783	)		-		$	(15,783	)
Other comprehensive income before reclassifications, net of tax		45,166			(41,885	)	$	3,281
Amounts reclassified out of AOCI		8,260			-		$	8,260
Tax effect		(2,116	)		-		$	(2,116	)
Amounts reclassified out of AOCI, net of tax		6,144			-		$	6,144
Net comprehensive income (loss)	$	51,310		$	(41,885	)	$	9,425
Balance at December 31, 2022	$	(7,598	)	$	(3,229	)	$	(10,827	)