Accumulated Other Comprehensive Income (Loss) (Tables)

6 Months Ended

Jun. 30, 2022

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

The other comprehensive (loss) income consists of the following components:


	Three Months Ended June 30
	2022						2021
	Before-Tax		Income		After-Tax		Before-Tax		Income		After-Tax
(in thousands)	Amount		Tax		Amount		Amount		Tax		Amount
Foreign currency translation adjustments:


Translation adjustments arising during the period	$	(40,928)	$	—	$	(40,928)	$	1,167	$	—	$	1,167




Pension and other postretirement plans:
Amortization of net prior service cost included in net income	716		(185)		531		792		(214)		578
Amortization of net actuarial gain included in net income	(18,082)		4,660		(13,422)		(924)		249		(675)



	(17,366)		4,475		(12,891)		(132)		35		(97)
Cash flow hedge:
Gain for the period	1,091		(251)		840		13		(3)		10
Other Comprehensive (Loss) Income	$	(57,203)	$	4,224	$	(52,979)	$	1,048	$	32	$	1,080


	Six Months Ended June 30
	2022						2021
	Before-Tax		Income		After-Tax		Before-Tax		Income		After-Tax
(in thousands)	Amount		Tax		Amount		Amount		Tax		Amount
Foreign currency translation adjustments:


Translation adjustments arising during the period	$	(42,666)	$	—	$	(42,666)	$	681	$	—	$	681
Pension and other postretirement plans:
Amortization of net prior service cost included in net income	1,432		(369)		1,063		1,584		(427)		1,157
Amortization of net actuarial gain included in net income	(35,856)		9,241		(26,615)		(3,353)		905		(2,448)


	(34,424)		8,872		(25,552)		(1,769)		478		(1,291)
Cash flow hedge:
Gain for the period	2,733		(629)		2,104		634		(147)		487
Other Comprehensive Loss	$	(74,357)	$	8,243	$	(66,114)	$	(454)	$	331	$	(123)

Summary of Changes in Accumulated Other Comprehensive Income (Loss)

The accumulated balances related to each component of other comprehensive income (loss) are as follows:


(in thousands, net of taxes)	Cumulative Foreign Currency Translation Adjustment		Unrealized Gain on Pensions and Other Postretirement Plans		Cash Flow Hedge		Accumulated Other Comprehensive Income
Balance as of December 31, 2021	$	(6,298)	$	979,157	$	(1,471)	$	971,388

Other comprehensive (loss) income before reclassifications	(42,666)		—		1,769		(40,897)
Net amount reclassified from accumulated other comprehensive income (loss)	—		(25,552)		335		(25,217)
Other comprehensive (loss) income, net of tax	(42,666)		(25,552)		2,104		(66,114)
Balance as of June 30, 2022	$	(48,964)	$	953,605	$	633	$	905,274

Summary of Amounts and Line Items of Reclassifications Out of Accumulated Other Comprehensive Income (Loss)

The amounts and line items of reclassifications out of Accumulated Other Comprehensive Income (Loss) are as follows:


	Three Months Ended June 30				Six Months Ended June 30				Affected Line Item in the Condensed Consolidated Statements of Operations

(in thousands)	2022		2021		2022		2021



Pension and Other Postretirement Plans:
Amortization of net prior service cost	$	716	$	792	$	1,432	$	1,584	(1)
Amortization of net actuarial gain	(18,082)		(924)		(35,856)		(3,353)		(1)

	(17,366)		(132)		(34,424)		(1,769)		Before tax
	4,475		35		8,872		478		(Benefit from) Provision for Income Taxes
	(12,891)		(97)		(25,552)		(1,291)		Net of Tax

Cash Flow Hedge	151		153		335		307		Interest expense


Total reclassification for the period	$	(12,740)	$	56	$	(25,217)	$	(984)	Net of Tax

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(1) These accumulated other comprehensive income components are included in the computation of net periodic pension and postretirement plan cost (see Note 11) and are included in non-operating pension and postretirement benefit income in the Company’s Condensed Consolidated Statements of Operations.