ACCUMULATED OTHER COMPREHENSIVE LOSS

12 Months Ended

Dec. 31, 2023

Accumulated other comprehensive loss is reported in our 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 January 1, 2021	$	(168,604)	$	(4,656)	$	(87,693)	$	(260,953)
Other comprehensive loss before reclassifications	41,422		715		(50,334)		(8,197)
Amounts reclassified from accumulated other comprehensive loss	7,708		1,614		—		9,322
Other comprehensive income	49,130		2,329		(50,334)		1,125

Balance at December 31, 2021	(119,474)		(2,327)		(138,027)		(259,828)
Other comprehensive loss before reclassifications	(39,174)		2,195		(49,778)		(86,757)
Amounts reclassified from accumulated other comprehensive loss	1,915		(640)		—		1,275
Other comprehensive loss	(37,259)		1,555		(49,778)		(85,482)
Balance at December 31, 2022	(156,733)		(772)		(187,805)		(345,310)
Other comprehensive income before reclassifications	15,556		852		46,149		62,557
Amounts reclassified from accumulated other comprehensive loss	7,654		(296)		24,034		31,392
Other comprehensive income	23,210		556		70,183		93,949
Balance at December 31, 2023	$	(133,523)	$	(216)	$	(117,622)	$	(251,361)

The amounts reclassified to earnings from the unrecognized net defined benefit plan costs component of accumulated other comprehensive loss for the years ended December 31, 2023, 2022 and 2021 were net (losses) of $(10.2) million, $(2.9) million and $(10.6) million, respectively, excluding income tax benefits of $2.5 million, $1.0 million and $2.9 million, respectively. These net losses included amortization of net actuarial (losses) of $(11.0) million, $(4.3) million and $(12.2) million for the years ended December 31, 2023, 2022 and 2021, respectively, and amortization of net prior service credit of $0.8 million, $1.4 million and $1.6 million for the years ended December 31, 2023, 2022 and 2021, respectively. Amortization of net actuarial losses and net prior service credit is a component of net periodic benefit cost (credit). See Note 13 for further discussion.

The amounts reclassified to earnings from the change in fair value of derivatives component of accumulated other comprehensive loss for the years ended December 31, 2023, 2022 and 2021 were not significant. See Note 10 which includes a discussion of derivative instruments and hedging activities.

The foreign currency translation component of accumulated other comprehensive loss includes: (i) foreign currency gains (losses) related to translation of year-end financial statements of foreign subsidiaries utilizing a functional currency other than the U.S. Dollar; (ii) foreign currency gains related to intra-entity foreign currency transactions that are of a long-term investment nature; and (iii) foreign currency (losses) gains related to our net investment hedges, net of tax. Foreign currency gains (losses) related to translation of year-end financial statements of foreign subsidiaries utilizing a functional currency other than the U.S. Dollar for the years ended December 31, 2023, 2022 and 2021 were $57.7 million, $(76.3) million and $(82.8) million, respectively. Foreign currency gains related to intra-entity foreign currency transactions that are of a long-term investment nature for the years ended December 31, 2023, 2022 and 2021 were $2.0 million, $2.0 million and $1.3 million, respectively. Foreign currency (losses) gains related to our net investment hedges for the years ended December 31, 2023, 2022 and 2021 were $(17.3) million, $32.1 million and $40.9 million, respectively, excluding an income tax benefit (provision) of $3.8 million, $(7.6) million and $(9.7) million, respectively. See Note 10 for further discussion. Foreign

currency translation losses reclassified from accumulated other comprehensive loss in 2023 were due to the shutdown of the two metal container manufacturing facilities in Russia.