Schedule of accumulated other comprehensive loss |
The components of AOCI, net of the effect of income taxes, and activity for the six months ended June 30, 2021 and 2022 was as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Components of AOCI, Net of Tax | (In thousands) | | Cumulative Foreign Exchange Translation Adjustments | | Effective Portion of Derivatives Designated as Hedging Instruments | | Cumulative Unrecognized Actuarial Losses on Pension Obligations | | Unrealized Gain (Loss) on Marketable Securities | | Total | Balance at December 31, 2020 | | $ | (125,392) | | | $ | (5,840) | | | $ | (514,500) | | | $ | (9) | | | $ | (645,741) | | | | | | | | | | | | | OCI before reclassifications | | 12,150 | | (a) | (259) | | (b) | (5,451) | | (a) | 25 | | | 6,465 | | Amounts reclassified from AOCI, net of tax | | — | | | 1,182 | | | 11,495 | | | — | | | 12,677 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Total OCI | | 12,150 | | | 923 | | | 6,044 | | | 25 | | | 19,142 | | Less: OCI attributable to noncontrolling interests | | (393) | | | — | | | — | | | — | | | (393) | | OCI attributable to Harsco Corporation | | 12,543 | | | 923 | | | 6,044 | | | 25 | | | 19,535 | | Balance at June 30, 2021 | | $ | (112,849) | | | $ | (4,917) | | | $ | (508,456) | | | $ | 16 | | | $ | (626,206) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Components of AOCI, Net of Tax | (In thousands) | | Cumulative Foreign Exchange Translation Adjustments | | Effective Portion of Derivatives Designated as Hedging Instruments | | Cumulative Unrecognized Actuarial Losses on Pension Obligations | | Unrealized Gain (Loss) on Marketable Securities | | Total | Balance at December 31, 2021 | | $ | (134,889) | | | $ | (3,024) | | | $ | (422,248) | | | $ | 22 | | | $ | (560,139) | | | | | | | | | | | | | OCI before reclassifications | | (61,493) | | (a) | 1,692 | | (b) | 33,697 | | (a) | (13) | | | (26,117) | | Amounts reclassified from AOCI, net of tax | | — | | | 168 | | | 8,831 | | | — | | | 8,999 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Total OCI | | (61,493) | | | 1,860 | | | 42,528 | | | (13) | | | (17,118) | | Less: OCI attributable to noncontrolling interests | | (3,385) | | | — | | | — | | | — | | | (3,385) | | OCI attributable to Harsco Corporation | | (58,108) | | | 1,860 | | | 42,528 | | | (13) | | | (13,733) | | Balance at June 30, 2022 | | $ | (192,997) | | | $ | (1,164) | | | $ | (379,720) | | | $ | 9 | | | $ | (573,872) | |
(a) Principally foreign currency fluctuation. (b) Net change from periodic revaluations.
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Reclassification out of accumulated other comprehensive income |
Amounts reclassified from AOCI were as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (In thousands) | | Three Months Ended | | Six Months Ended | | Location on the Condensed Consolidated Statements of Operations | | June 30 | | June 30 | | 2022 | | 2021 | | 2022 | | 2021 | | | | | | | | | | | | | | | | | | | | | | | | Amortization of cash flow hedging instruments: | Foreign currency exchange forward contracts | | $ | (998) | | | $ | 3 | | | $ | (1,586) | | | $ | (47) | | | Income (loss) from discontinued operations | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Interest rate swaps | | 1,061 | | | 862 | | | 2,111 | | | 1,727 | | | Interest expense | | | | | | | | | | | | Total before taxes | | 63 | | | 865 | | | 525 | | | 1,680 | | | | Income taxes | | (233) | | | (253) | | | (357) | | | (498) | | | | Total reclassification of cash flow hedging instruments, net of tax | | $ | (170) | | | $ | 612 | | | $ | 168 | | | $ | 1,182 | | | | | | | | | | | | | | | Amortization of defined benefit pension items (c): | Actuarial losses | | $ | 4,496 | | | $ | 6,007 | | | $ | 9,223 | | | $ | 11,955 | | | Defined benefit pension income | Prior service costs | | 113 | | | 129 | | | 233 | | | 256 | | | Defined benefit pension income | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Total before taxes | | 4,609 | | | 6,136 | | | 9,456 | | | 12,211 | | | | Income taxes | | (312) | | | (358) | | | (625) | | | (716) | | | | Total reclassification of defined benefit pension items, net of tax | | $ | 4,297 | | | $ | 5,778 | | | $ | 8,831 | | | $ | 11,495 | | | |
(c) These AOCI components are included in the computation of net periodic pension costs. See Note 10, Employee Benefit Plans, for additional details.
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