Accumulated Other Comprehensive Loss

3 Months Ended

Mar. 31, 2023

Accumulated other comprehensive loss is reported in our Condensed Consolidated Statements of Stockholders’ Equity. Amounts included in accumulated other comprehensive loss, net of tax, were as follows:


	Unrecognized Net Defined Benefit Plan Costs		Change in Fair Value of Derivatives		Foreign Currency Translation		Total
	(Dollars in thousands)
Balance at December 31, 2022	$	(156,733)	$	(772)	$	(187,805)	$	(345,310)
Other comprehensive income before reclassifications	—		(1,714)		19,721		18,007
Amounts reclassified from accumulated other comprehensive loss	2,306		427		—		2,733
Other comprehensive income	2,306		(1,287)		19,721		20,740
Balance at March 31, 2023	$	(154,427)	$	(2,059)	$	(168,084)	$	(324,570)

The amounts reclassified to earnings from the unrecognized net defined benefit plan costs component of accumulated other comprehensive loss for the three months ended March 31, 2023 were net (losses) of $(2.6) million, excluding income tax benefits of $0.3 million. These net (losses) consisted of amortization of net actuarial (losses) of $(2.8) million and amortization of net prior service credit of $0.2 million. Amortization of net actuarial losses and net prior service credit was recorded in other pension and postretirement income in our Condensed Consolidated Statements of Income. See Note 10 for further information.

The amounts reclassified to earnings from the change in fair value of derivatives component of accumulated other comprehensive loss for the three months ended March 31, 2023 were not significant.

Other comprehensive loss before reclassifications related to foreign currency translation for the three months ended March 31, 2023 consisted of (i) foreign currency gains related to translation of quarter end financial statements of foreign subsidiaries utilizing a functional currency other than the U.S. dollar of $25.6 million, (ii) foreign currency gains related to intra-entity foreign currency transactions that are of a long-term investment nature of $0.8 million, and (iii) foreign currency (losses) related to our net investment hedges of $(8.8) million, excluding an income tax benefit of $2.1 million. See Note 7 for further discussion.