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Reclassifications Out of Accumulated Other Comprehensive Income (Loss) (Tables)
12 Months Ended
Dec. 31, 2022
Equity [Abstract]  
Schedule of Reclassification Adjustments and Other Activities Impacting Accumulated Other Comprehensive Income (Loss)

Reclassification adjustments and other activities impacting accumulated other comprehensive income (loss) during the years ended December 31, 2022, 2021 and 2020 are as follows:

 

 

Defined
Benefit
Pension
Plans

 

 

Foreign
Currency
Translation
Adjustments

 

 

Commodity Hedge Derivatives

 

 

Foreign
Currency
Hedge
Derivatives

 

 

Total

 

Balance at December 31, 2021

 

$

(2,893

)

 

$

(34,188

)

 

$

5

 

 

$

154

 

 

$

(36,922

)

Other comprehensive income (loss) before reclassifications

 

 

2,341

 

 

 

(13,786

)

 

 

13

 

 

 

4,954

 

 

 

(6,478

)

Income tax effect of other comprehensive income (loss) before reclassifications

 

 

(621

)

 

 

(295

)

 

 

(3

)

 

 

(1,092

)

 

 

(2,011

)

Amounts reclassified from accumulated other comprehensive loss into net income

 

 

137

 

 

 

 

 

 

(19

)

a

 

(1,458

)

a

 

(1,340

)

Income taxes reclassified into net income

 

 

(31

)

 

 

 

 

 

4

 

 

 

289

 

 

 

262

 

Net current period other comprehensive income (loss)

 

 

1,826

 

 

 

(14,081

)

 

 

(5

)

 

 

2,693

 

 

 

(9,567

)

Balance at December 31, 2022

 

$

(1,067

)

 

$

(48,269

)

 

$

 

 

$

2,847

 

 

$

(46,489

)

 

(a)
The amounts reclassified from Accumulated other comprehensive income (loss) are included in Cost of sales. See Note 13 for information related to the effect of commodity and foreign currency derivative instruments on our consolidated statements of income.

 

 

 

Defined
Benefit
Pension
Plans

 

 

Foreign
Currency
Translation
Adjustments

 

 

Commodity Hedge Derivatives

 

 

Foreign
Currency
Hedge
Derivatives

 

 

Total

 

Balance at December 31, 2020

 

$

(3,451

)

 

$

(12,637

)

 

$

 

 

$

1,106

 

 

$

(14,982

)

Other comprehensive income (loss) before reclassifications

 

 

512

 

 

 

(21,274

)

 

 

20

 

 

 

392

 

 

 

(20,350

)

Income tax effect of other comprehensive income (loss) before reclassifications

 

 

(71

)

 

 

(277

)

 

 

(4

)

 

 

(85

)

 

 

(437

)

Amounts reclassified from accumulated other comprehensive loss into net income

 

 

159

 

 

 

 

 

 

(14

)

a

 

(1,609

)

a

 

(1,464

)

Income taxes reclassified into net income

 

 

(42

)

 

 

 

 

 

3

 

 

 

350

 

 

 

311

 

Net current period other comprehensive income (loss)

 

 

558

 

 

 

(21,551

)

 

 

5

 

 

 

(952

)

 

 

(21,940

)

Balance at December 31, 2021

 

$

(2,893

)

 

$

(34,188

)

 

$

5

 

 

$

154

 

 

$

(36,922

)

 

(a)
The amounts reclassified from Accumulated other comprehensive income (loss) are included in Cost of sales. See Note 13 for information related to the effect of commodity and foreign currency derivative instruments on our consolidated statements of income.

 

 

 

Defined Benefit
Pension Plans

 

 

Foreign Currency
Translation
Adjustments

 

 

Commodity Hedge Derivatives

 

 

Foreign Currency
Hedge
Derivatives

 

 

Total

 

Balance at December 31, 2019

 

$

(3,371

)

 

$

(39,879

)

 

$

 

 

$

895

 

 

$

(42,355

)

Other comprehensive (loss) income before reclassifications

 

 

(328

)

 

 

27,147

 

 

 

 

 

 

(1,751

)

 

 

25,068

 

Income tax effect of other comprehensive (loss) income before reclassifications

 

 

117

 

 

 

95

 

 

 

 

 

 

381

 

 

 

593

 

Amounts reclassified from accumulated other comprehensive loss into net income

 

$

131

 

 

 

 

 

 

 

 

 

2,023

 

a

 

2,154

 

Income taxes reclassified into net income

 

 

 

 

 

 

 

 

 

 

 

(442

)

 

 

(442

)

Net current period other comprehensive (loss) income

 

 

(80

)

 

 

27,242

 

 

 

 

 

 

211

 

 

 

27,373

 

Balance at December 31, 2020

 

$

(3,451

)

 

$

(12,637

)

 

$

 

 

$

1,106

 

 

$

(14,982

)

 

(a)
The amounts reclassified from Accumulated other comprehensive income (loss) are included in Cost of sales. See Note 13 for information related to the effect of commodity and foreign currency derivative instruments on our consolidated statements of income.