Accumulated Other Comprehensive Income (Loss)

9 Months Ended

Sep. 30, 2022

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

Accumulated Other Comprehensive Income (Loss)

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

The other comprehensive loss consists of the following components:

	Three Months Ended September 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	$	(44,260)	$	—	$	(44,260)	$	(16,033)	$	—	$	(16,033)
Pension and other postretirement plans:
Amortization of net prior service cost included in net income	716		(185)		531		793		(188)		605
Amortization of net actuarial gain included in net income	(18,083)		4,661		(13,422)		(1,066)		238		(828)
	(17,367)		4,476		(12,891)		(273)		50		(223)
Cash flow hedges:
Gains for the period	2,202		(506)		1,696		169		(39)		130
Other Comprehensive Loss	$	(59,425)	$	3,970	$	(55,455)	$	(16,137)	$	11	$	(16,126)

	Nine Months Ended September 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	$	(86,926)	$	—	$	(86,926)	$	(15,352)	$	—	$	(15,352)
Pension and other postretirement plans:
Amortization of net prior service cost included in net income	2,148		(554)		1,594		2,377		(615)		1,762
Amortization of net actuarial gain included in net income	(53,939)		13,902		(40,037)		(4,419)		1,143		(3,276)
	(51,791)		13,348		(38,443)		(2,042)		528		(1,514)
Cash flow hedges:
Gains for the period	4,935		(1,135)		3,800		803		(186)		617
Other Comprehensive Loss	$	(133,782)	$	12,213	$	(121,569)	$	(16,591)	$	342	$	(16,249)

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 Hedges		Accumulated Other Comprehensive Income
Balance as of December 31, 2021	$	(6,298)	$	979,157	$	(1,471)	$	971,388
Other comprehensive (loss) income before reclassifications	(86,926)		—		3,342		(83,584)
Net amount reclassified from accumulated other comprehensive income (loss)	—		(38,443)		458		(37,985)
Other comprehensive (loss) income, net of tax	(86,926)		(38,443)		3,800		(121,569)
Balance as of September 30, 2022	$	(93,224)	$	940,714	$	2,329	$	849,819

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

	Three Months Ended   September 30				Nine Months Ended   September 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	$	793	$	2,148	$	2,377	(1)
Amortization of net actuarial gain	(18,083)		(1,066)		(53,939)		(4,419)		(1)
	(17,367)		(273)		(51,791)		(2,042)		Before tax
	4,476		50		13,348		528		Provision for (Benefit from) Income Taxes
	(12,891)		(223)		(38,443)		(1,514)		Net of Tax
Cash Flow Hedges	123		149		458		456		Interest expense
Total reclassification for the period	$	(12,768)	$	(74)	$	(37,985)	$	(1,058)	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.