Comprehensive Income

3 Months Ended

Mar. 31, 2023

13. Comprehensive Income

Comprehensive income for the three months ended March 31, 2023 and 2022, was as follows:


	Three Months Ended March 31,
	2023		2022

	(Dollars in thousands)
Net earnings	$	7,445	$	4,053
Foreign currency translation adjustments		(306)		521
Pension liability, net of tax of $35 and $54, respectively		99		154
Total comprehensive income	$	7,238	$	4,728

The components of accumulated other comprehensive loss as recorded in the Consolidated Condensed Balance Sheets (Unaudited) were as follows:


	March 31,		December 31,
	2023		2022

	(Dollars in thousands)
Foreign currency translation adjustments	$	(8,902)	$	(8,596)
Pension liability, net of tax		(11,498)		(11,597)
Total accumulated other comprehensive loss	$	(20,400)	$	(20,193)

The following tables show changes in accumulated other comprehensive loss during the three months ended March 31, 2023 and 2022:


	Foreign		Defined
	Currency		Benefit
	Translation		Pension
	Adjustments		Items		Total
Beginning balance, December 31, 2022	$	(8,596)	$	(11,597)	$	(20,193)
Other comprehensive loss before reclassifications		(306)		—		(306)
Amounts reclassified from accumulated other comprehensive loss		—		99		99
Net current period other comprehensive (loss) income		(306)		99		(207)
Ending balance, March 31, 2023	$	(8,902)	$	(11,498)	$	(20,400)


	Foreign		Defined
	Currency		Benefit
	Translation		Pension
	Adjustments		Items		Total
Beginning balance, December 31, 2021	$	(6,783)	$	(18,011)	$	(24,794)
Other comprehensive income before reclassifications		521		—		521
Amounts reclassified from accumulated other comprehensive loss		—		154		154
Net current period other comprehensive income		521		154		675
Ending balance, March 31, 2022	$	(6,262)	$	(17,857)	$	(24,119)

The following table shows reclassification adjustments out of accumulated other comprehensive loss during the three months ended March 31, 2023 and 2022:


	Amounts reclassified from
	accumulated other
	comprehensive loss for					Affected line item in the
	the three months ended					statement where net income is
	March 31, 2023		March 31, 2022			presented
Amortization of defined benefit pension items
Prior service cost	$	5	$	2	⁽¹⁾	Other expense, net
Actuarial losses		129		206	⁽¹⁾	Other expense, net
Total before tax		134		208
Tax benefit		(35)		(54)
Net of tax	$	99	$	154

(1)

These amounts were included in pension expense. See Note 7 for additional details.