Accumulated Other Comprehensive Income (Loss)

6 Months Ended

Jun. 30, 2021

Equity [Abstract]

Accumulated Other Comprehensive Income (Loss)

Accumulated Other Comprehensive Income (Loss)

The following table summarizes the changes in accumulated other comprehensive income (loss) attributable to the Company for the three and six months ended June 30, 2021 and 2020:

	Three months ended June 30,				Six months ended June 30,
(in thousands)	2021		2020		2021		2020
Currency Translation Adjustment
Beginning balance	$	6,963	$	(5,574)	$	5,739	$	1,065
Other comprehensive income (loss) before reclassifications	1,469		3,249		2,693		(3,390)
Tax effect	—		—		—		—
Other comprehensive income (loss), net of tax	1,469		3,249		2,693		(3,390)
Ending balance	$	8,432	$	(2,325)	$	8,432	$	(2,325)
Hedging Adjustment
Beginning balance	$	(8,365)	$	(23,106)	$	(18,106)	$	(9,443)
Other comprehensive income (loss) before reclassifications	(3,514)		(3,669)		4,613		(18,059)
Amounts reclassified from accumulated other comprehensive income (loss)(a)	2,208		2,412		4,360		3,381
Tax effect	(552)		(603)		(1,090)		(845)
Other comprehensive income (loss), net of tax	(1,858)		(1,860)		7,883		(15,523)
Ending balance	$	(10,223)	$	(24,966)	$	(10,223)	$	(24,966)
Pension and Other Postretirement Adjustment
Beginning balance	$	(70)	$	773	$	33	$	889
Other comprehensive income (loss) before reclassifications	(63)		186		5		241
Amounts reclassified from accumulated other comprehensive income (loss)(b)	(228)		(228)		(456)		(456)
Tax effect	57		57		114		114
Other comprehensive income (loss), net of tax	(234)		15		(337)		(101)
Ending balance	$	(304)	$	788	$	(304)	$	788
Investments in Convertible Preferred Securities Adjustment
Beginning balance	$	258	$	258	$	258	$	258
Other comprehensive income (loss), net of tax	—		—		—		—
Ending balance	$	258	$	258	$	258	$	258
Total AOCI Ending Balance	$	(1,837)	$	(26,245)	$	(1,837)	$	(26,245)

(a) Amounts reclassified from gain (loss) on cash flow hedges are reclassified from AOCI to income when the hedged item affects earnings and is recognized in Interest expense, net. See Note 5 for additional information.

(b) This accumulated other comprehensive loss component is included in the computation of net periodic benefit cost recorded in Operating, administrative and general expenses.