Accumulated Other Comprehensive Income (Loss)

12 Months Ended

Dec. 31, 2022

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

Accumulated Other Comprehensive Income (Loss)

14. Accumulated Other Comprehensive Income (Loss)

The following tables summarize changes in AOCI by component, all of which are presented net of tax:

thousands
Balance as of December 31, 2019	$	(29,372)
Other comprehensive income (loss) before reclassifications	(34,906)
(Gain) loss reclassified from accumulated other comprehensive loss to net income	11,836
Pension adjustment	(84)
Share of investee’s other comprehensive income	1,002
Deconsolidation of 110 North Wacker	12,934
Net current-period other comprehensive income (loss)	(9,218)
Balance at December 31, 2020	$	(38,590)
Other comprehensive income (loss) before reclassifications	5,300
(Gain) loss reclassified from accumulated other comprehensive loss to net income	12,660
Pension adjustment	452
Share of investee's other comprehensive income	5,721
Net current-period other comprehensive income (loss)	24,133
Balance at December 31, 2021	$	(14,457)
Other comprehensive income (loss) before reclassifications	25,657
(Gain) loss reclassified from accumulated other comprehensive loss to net income	6,041
Pension adjustment	(183)
Reclassification of the Company's share of previously deferred derivative gains to net income (a)	(6,723)
Net current-period other comprehensive income (loss)	24,792
Balance at December 31, 2022	$	10,335

(a)In March 2022, the Company completed the sale of its ownership interest in 110 North Wacker and released a net of $6.7 million from Accumulated other comprehensive income (loss), representing the Company’s $8.6 million share of previously deferred gains associated with the Venture’s derivative instruments net of tax expense of $1.9 million. See Note 2 - Investments in Unconsolidated Ventures for additional information.

The following table summarizes the amounts reclassified out of AOCI:

Accumulated Other Comprehensive Income  (Loss) Components thousands	Amounts reclassified from  Accumulated other comprehensive income (loss)
	For the Year Ended				Affected line items in the Statements of Operations
	2022		2021
(Gains) losses on cash flow hedges	$	7,778	$	16,221	Interest expense
Company's share of previously deferred derivative gains	(8,636)		—		Equity in earnings (losses) from unconsolidated ventures
Income taxes on (gains) losses on cash flow hedges	176		(3,561)		Income tax expense (benefit)
Total reclassifications of (income) loss for the period	$	(682)	$	12,660