Accumulated Other Comprehensive Income (Loss)

3 Months Ended

Mar. 31, 2023

Equity [Abstract]

Accumulated Other Comprehensive Income (Loss)

Accumulated Other Comprehensive Income

The following table summarizes the changes in accumulated other comprehensive income ("AOCI") attributable to the Company for the three months ended March 31, 2023 and 2022:

	Three months ended March 31,
(in thousands)	2023		2022
Currency Translation Adjustment
Beginning balance	$	(8,203)	$	5,631
Other comprehensive income (loss) before reclassifications	767		98
Tax effect	—		—
Other comprehensive income (loss), net of tax	767		98
Ending balance	$	(7,436)	$	5,729
Hedging Adjustment
Beginning balance	$	23,546	$	(5,335)
Other comprehensive income (loss) before reclassifications	(4,302)		10,712
Amounts reclassified from AOCI (a)	(2,105)		2,279
Tax effect	1,611		(569)
Other comprehensive income (loss), net of tax	(4,796)		12,422
Ending balance	$	18,750	$	7,087
Pension and Other Postretirement Adjustment
Beginning balance	$	4,883	$	640
Other comprehensive income (loss) before reclassifications	(14)		12
Amounts reclassified from AOCI (b)	(228)		(228)
Tax effect	54		57
Other comprehensive income (loss), net of tax	(188)		(159)
Ending balance	$	4,695	$	481
Investments in Convertible Preferred Securities Adjustment
Beginning balance	$	258	$	258
Other comprehensive income (loss), net of tax	—		—
Ending balance	$	258	$	258
Total AOCI Ending Balance	$	16,267	$	13,555

(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.