Accumulated Other Comprehensive Loss

6 Months Ended

Jun. 30, 2021

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

Note M – Accumulated Other Comprehensive Loss

The components of Accumulated other comprehensive loss on the Consolidated Balance Sheets at December 31, 2020 and June 30, 2021 and the changes during the six-month period ended June 30, 2021, are presented net of taxes in the following table.


(Thousands of dollars)	Foreign Currency Translation Gains (Losses)		Retirement and Postretirement Benefit Plan Adjustments		Deferred Loss on Interest Rate Derivative Hedges		Total
Balance at December 31, 2020	$	(324,011)	(275,632)		(1,690)		(601,333)
Components of other comprehensive income (loss):
Before reclassifications to income and retained earnings	37,842		—		—		37,842
Reclassifications to income	—		8,282	¹	1,690	²	9,972
Net other comprehensive income (loss)	37,842		8,282		1,690		47,814
Balance at June 30, 2021	$	(286,169)	(267,350)		—		(553,519)

1 Reclassifications before taxes of $10,513 are included in the computation of net periodic benefit expense for the six-month period ended June 30, 2021. See Note H for additional information. Related income taxes of $2,231 are included in Income tax expense (benefit) for the six-month period ended June 30, 2021.

2 Reclassifications before taxes of $2,140 are included in Interest expense, net, for the six-month period ended June 30, 2021. Related income taxes of $450 are included in Income tax expense (benefit) for the six-month period ended June 30, 2021. See Note L for additional information.