Comprehensive Income

3 Months Ended

Mar. 31, 2024

13. Comprehensive Income

Comprehensive income for the three months ended March 31, 2024 and 2023, was as follows:


	Three Months Ended March 31,
	2024		2023

Net earnings	$	6,650	$	7,445
Foreign currency translation adjustments		(1,092)		(306)
Pension liability adjustment, net of tax of $26 and $35, respectively		73		99
Total comprehensive income	$	5,631	$	7,238

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


	March 31,		December 31,
	2024		2023

	(Dollars in thousands)
Foreign currency translation adjustments	$	(9,046)	$	(7,954)
Pension liability, net of tax		(9,284)		(9,357)
Total accumulated other comprehensive loss	$	(18,330)	$	(17,311)

The following tables show changes in accumulated other comprehensive loss during the three months ended March 31, 2024 and 2023:


	Foreign Currency
	Translation		Defined Benefit
	Adjustments		Pension Items		Total
Balance, December 31, 2023	$	(7,954)	$	(9,357)	$	(17,311)
Other comprehensive loss before reclassifications		(1,092)				(1,092)
Amounts reclassified from accumulated other comprehensive loss		—		73		73
Net current period other comprehensive (loss) income		(1,092)		73		(1,019)
Balance, March 31, 2024	$	(9,046)	$	(9,284)	$	(18,330)


	Foreign Currency
	Translation		Defined Benefit
	Adjustments		Pension Items		Total
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)
Balance, March 31, 2023	$	(8,902)	$	(11,498)	$	(20,400)

The following table shows reclassification adjustments out of accumulated other comprehensive loss during the three months ended March 31, 2024 and 2023:



	Amounts Reclassified from Accumulated Other Comprehensive Loss						Affected line item in the
	Three Months Ended March 31,						statement where net
	2024			2023			earnings is presented
Amortization of defined benefit pension items
Prior service cost	$	5	⁽¹⁾	$	5	⁽¹⁾	Other expense, net
Actuarial losses		94	⁽¹⁾		129	⁽¹⁾	Other expense, net
Total before tax		99			134
Tax benefit		(26)			(35)
Net of tax	$	73		$	99

(1)

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