Accumulated Other Comprehensive Income (Loss) (Tables)

12 Months Ended

Dec. 31, 2023

Summary of Accumulated Other Comprehensive (Loss)

Following is a summary of AOCI(L) for 2023, 2022 and 2021:


			Gains (Losses) During the Period				Reclassification to Income
(in thousands)	December 31, 2022		Pre-tax Activity		Tax Effect		Pre-tax Activity		Tax Effect		December 31, 2023
Net pension activity:
Actuarial loss	$	(71,140)	$	3,036	$	(744)	$	1,946	$	(476)	$	(67,378)
Prior service costs	(105)		(5)		1		16		(4)		(97)
Pension plan settlement(1)	—		—		—		112,796		(44,885)		67,911
Net postretirement benefits activity:
Actuarial gain	6,752		(7,986)		1,955		—		—		721
Prior service costs	(624)		—		—		—		—		(624)
Reclassification of stranded tax effects(1)	(19,720)		—		—		—		14,911		(4,809)
Total AOCI(L)	$	(84,837)	$	(4,955)	$	1,212	$	114,758	$	(30,454)	$	(4,276)


			Gains (Losses) During the Period				Reclassification to Income
(in thousands)	December 31, 2021		Pre-tax Activity		Tax Effect		Pre-tax Activity		Tax Effect		December 31, 2022
Net pension activity:
Actuarial loss	$	(78,882)	$	6,263	$	(1,533)	$	3,990	$	(978)	$	(71,140)
Prior service credits (costs)	11		(154)		38		—		—		(105)
Net postretirement benefits activity:
Actuarial (loss) gain	(1,239)		10,138		(2,481)		444		(110)		6,752
Prior service costs	(624)		—		—		—		—		(624)
Foreign currency translation adjustment	(9)		—		—		11		(2)		—
Reclassification of stranded tax effects	(19,720)		—		—		—		—		(19,720)
Total AOCI(L)	$	(100,463)	$	16,247	$	(3,976)	$	4,445	$	(1,090)	$	(84,837)


			Gains (Losses) During the Period				Reclassification to Income
(in thousands)	December 31, 2020		Pre-tax Activity		Tax Effect		Pre-tax Activity		Tax Effect		December 31, 2021
Net pension activity:
Actuarial loss	$	(93,847)	$	14,897	$	(3,658)	$	4,954	$	(1,228)	$	(78,882)
Prior service credits	8		—		—		3		—		11
Net postretirement benefits activity:
Actuarial loss	(4,328)		3,414		(838)		682		(169)		(1,239)
Prior service costs	(624)		—		—		—		—		(624)
Interest rate swap(2)	(556)		—		—		739		(183)		—
Foreign currency translation adjustment	14		—		—		(32)		9		(9)
Reclassification of stranded tax effects	(19,720)		—		—		—		—		(19,720)
Total AOCI(L)	$	(119,053)	$	18,311	$	(4,496)	$	6,346	$	(1,571)	$	(100,463)

(1)The stranded tax effect activity for 2023 is associated with the full settlement of the Primary Plan benefit liabilities.

(2)In 2019, the Company entered into a $100 million fixed rate swap to hedge a portion of the interest rate risk on its previous term loan facility, both of which matured on June 7, 2021. This interest rate swap was designated as a cash flow hedging instrument and changes in its fair value were not material to the consolidated balance sheets.