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Accumulated Other Comprehensive Income (AOCI)
 9 Months Ended
Sep. 30, 2021
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Accumulated Other Comprehensive Income (AOCI) Accumulated Other Comprehensive Income (AOCI)
The table below presents changes in the components of AOCI for the period December 31, 2020 to September 30, 2021:
(in thousands)
Translation
adjustments
Pension and
postretirement
liability
adjustments
Derivative
adjustment
Total Other
Comprehensive
Income
December 31, 2020$(83,203)$(39,661)$(9,544)$(132,408)
Other comprehensive income/(loss) before reclassifications, net of tax
(17,124)627 274 (16,223)
Interest expense related to swaps reclassified to the Consolidated Statements of Income, net of tax— — 3,745 3,745 
Pension and postretirement liability adjustments reclassified to Consolidated Statements of Income, net of tax
— (25)— (25)
Net current period other comprehensive income(17,124)602 4,019 (12,503)
September 30, 2021$(100,327)$(39,059)$(5,525)$(144,911)
The table below presents changes in the components of AOCI for the period December 31, 2019 to September 30, 2020:
(in thousands)
Translation
adjustments
Pension and
postretirement
liability
adjustments
Derivative
adjustment
Total Other
Comprehensive
Income
December 31, 2019$(122,852)$(49,994)$(3,135)$(175,981)
Other comprehensive income/(loss) before reclassifications, net of tax3,038 9 (9,315)(6,268)
Pension/postretirement curtailment loss, net of tax— 265 — 265 
Interest expense related to swaps reclassified to the Consolidated Statements of Income, net of tax— — 2,041 2,041 
Pension and postretirement liability adjustments reclassified to Consolidated Statements of Income, net of tax— 284 — 284 
Net current period other comprehensive income3,038 558 (7,274)(3,678)
September 30, 2020$(119,814)$(49,436)$(10,409)$(179,659)
The components of our Accumulated Other Comprehensive Income that are reclassified to the Statement of Income relate to our pension and postretirement plans and interest rate swaps.
The table below presents the expense/(income) amounts reclassified from AOCI, and the line items of the Statement of Income that were affected for the three and nine months ended September 30, 2021 and 2020:
Three months ended September 30,Nine months ended September 30,
(in thousands)
2021202020212020
Pretax Derivative valuation reclassified from Accumulated Other Comprehensive Income:
Expense/(income) related to interest rate swaps included in Income before taxes (a)
$1,803 $1,219 $5,049 $2,742 
Income tax effect(466)(311)(1,304)(701)
Effect on net income due to items reclassified from Accumulated Other Comprehensive Income
$1,337 $908 $3,745 $2,041 
Pretax pension and postretirement liabilities reclassified from Accumulated Other Comprehensive Income:
Pension/postretirement curtailment— — — 378 
Amortization of prior service credit(1,119)(1,114)(3,356)(3,342)
Amortization of net actuarial loss1,103 1,244 3,320 3,720 
Total pretax amount reclassified (b)(16)130 (36)756 
Income tax effect5 (32)11 (207)
Effect on net income due to items reclassified from Accumulated Other Comprehensive Income$(11)$98 $(25)$549 
(a)Included in Interest expense, net are payments related to the interest rate swap agreements and amortization of swap buyouts (see Notes 13 and 14).
(b)These accumulated other comprehensive income components are included in the computation of net periodic pension cost (see Note 3).