| Equity |
15. EQUITY Accumulated Other Comprehensive Income (Loss) The following tables present the changes in accumulated other comprehensive income (loss), net of tax, by component:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended March 31, 2023 |
|
(In thousands) |
|
Unrealized
(Losses) Gains
on
Available-
for-Sale
Securities |
|
|
Defined
Benefit Plan
Adjustments |
|
|
Foreign
Currency
Adjustments |
|
|
ASU 2018-02 Adoption |
|
|
Total |
|
Balance as of December 31, 2022 |
|
$ |
(836 |
) |
|
$ |
(1,016 |
) |
|
$ |
48,180 |
|
|
$ |
385 |
|
|
$ |
46,713 |
|
Other comprehensive income before
reclassifications |
|
|
83 |
|
|
|
— |
|
|
|
8,678 |
|
|
|
— |
|
|
|
8,761 |
|
Amounts reclassified from accumulated other
comprehensive (loss) income |
|
|
(14 |
) |
|
|
35 |
|
|
|
— |
|
|
|
— |
|
|
|
21 |
|
Net current period other comprehensive income |
|
|
69 |
|
|
|
35 |
|
|
|
8,678 |
|
|
|
— |
|
|
|
8,782 |
|
Less: Comprehensive income attributable to non-controlling interest, net of tax |
|
|
— |
|
|
|
— |
|
|
|
244 |
|
|
|
— |
|
|
|
244 |
|
Balance as of March 31, 2023 |
|
$ |
(767 |
) |
|
$ |
(981 |
) |
|
$ |
56,614 |
|
|
$ |
385 |
|
|
$ |
55,251 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended March 31, 2022 |
|
(In thousands) |
|
Unrealized
(Losses)
Gains
on
Available-
for-Sale
Securities |
|
|
Defined
Benefit Plan
Adjustments |
|
|
Foreign
Currency
Adjustments |
|
|
ASU 2018-02 Adoption |
|
|
Total |
|
Balance as of December 31, 2021 |
|
$ |
(552 |
) |
|
$ |
(5,613 |
) |
|
$ |
(6,134 |
) |
|
$ |
385 |
|
|
$ |
(11,914 |
) |
Other comprehensive loss before
reclassifications |
|
|
(975 |
) |
|
|
— |
|
|
|
(905 |
) |
|
|
— |
|
|
|
(1,880 |
) |
Amounts reclassified from accumulated other
comprehensive income (loss) |
|
|
251 |
|
|
|
(13 |
) |
|
|
— |
|
|
|
— |
|
|
|
238 |
|
Net current period other comprehensive income (loss) |
|
|
(724 |
) |
|
|
(13 |
) |
|
|
(905 |
) |
|
|
— |
|
|
|
(1,642 |
) |
Balance as of March 31, 2022 |
|
$ |
(1,276 |
) |
|
$ |
(5,626 |
) |
|
$ |
(7,039 |
) |
|
$ |
385 |
|
|
$ |
(13,556 |
) |
The following tables present the details of reclassifications out of accumulated other comprehensive loss:
|
|
|
|
|
|
|
|
|
|
Three Months Ended March 31, 2023 |
(In thousands) |
|
Amount
Reclassified
from
Accumulated
Other
Comprehensive
(Loss) Income |
|
|
Affected Line Item in the
Statement Where Net
(Loss) Income Is Presented |
Unrealized gain (loss) on available-for-sale securities: |
|
|
|
|
|
Net realized gain on sales of securities |
|
$ |
18 |
|
|
Net investment (loss) gain |
Defined benefit plan adjustments – actuarial loss |
|
|
(51 |
) |
|
(1) |
Total reclassifications for the period, before tax |
|
|
(33 |
) |
|
|
Tax benefit |
|
|
12 |
|
|
|
Total reclassifications for the period, net of tax |
|
$ |
(21 |
) |
|
|
(1)A part of the computation of net periodic pension cost, which is included in other income, net in the Condensed Consolidated Statements of Loss.
|
|
|
|
|
|
|
|
|
|
Three Months Ended March 31, 2022 |
(In thousands) |
|
Amount
Reclassified
from
Accumulated
Other
Comprehensive
(Loss) Income |
|
|
Affected Line Item in the
Statement Where Net
(Loss) Income Is Presented |
Unrealized gain (loss) on available-for-sale securities: |
|
|
|
|
|
Net realized loss on sales of securities |
|
$ |
(330 |
) |
|
Net investment (loss) gain |
Defined benefit plan adjustments – actuarial gain |
|
|
19 |
|
|
(1) |
Total reclassifications for the period, before tax |
|
|
(311 |
) |
|
|
Tax benefit |
|
|
73 |
|
|
|
Total reclassifications for the period, net of tax |
|
$ |
(238 |
) |
|
|
(1)A part of the computation of net periodic pension cost, which is included in other income, net in the Condensed Consolidated Statements of Loss. The following table presents the tax effects related to the change in each component of other comprehensive income (loss):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
|
Three Months Ended |
|
|
|
March 31, 2023 |
|
|
March 31, 2022 |
|
(In thousands) |
|
Before-Tax
Amount |
|
|
Tax
(Expense)
Benefit |
|
|
Net-of-Tax
Amount |
|
|
Before-Tax
Amount |
|
|
Tax
(Expense)
Benefit |
|
|
Net-of-Tax
Amount |
|
Unrealized gain (loss) on available-for-sale
securities |
|
$ |
109 |
|
|
$ |
(26 |
) |
|
$ |
83 |
|
|
$ |
(1,283 |
) |
|
$ |
308 |
|
|
$ |
(975 |
) |
Reclassification adjustment for amounts related to
available-for-sale investments included in net (loss) gain |
|
|
(18 |
) |
|
|
4 |
|
|
|
(14 |
) |
|
|
330 |
|
|
|
(79 |
) |
|
|
251 |
|
Reclassification adjustment for amounts related to
defined benefit plan adjustments included in net (loss) gain |
|
|
51 |
|
|
|
(16 |
) |
|
|
35 |
|
|
|
(19 |
) |
|
|
6 |
|
|
|
(13 |
) |
Foreign currency translation adjustments |
|
|
8,678 |
|
|
|
— |
|
|
|
8,678 |
|
|
|
(905 |
) |
|
|
— |
|
|
|
(905 |
) |
Total Other Comprehensive Income (Loss) |
|
$ |
8,820 |
|
|
$ |
(38 |
) |
|
$ |
8,782 |
|
|
$ |
(1,877 |
) |
|
$ |
235 |
|
|
$ |
(1,642 |
) |
|