Shareholders' equity (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of Weighted Average Number of Shares

The following table provides a reconciliation of basic to diluted weighted average shares outstanding:


	2023	2022	2021

Basic	46,981	46,898	46,774
Dilutive effect of share based awards	323	411	653

Diluted	47,304	47,309	47,427

Schedule of Accumulated Other Comprehensive Income (Loss)

The following table provides information relating to the changes in accumulated other comprehensive income (loss), net of tax, for each of the years ended December 31, 2023 and 2022:


	Cash Flow Hedges		Pension and Other Postretirement Benefit Plans		Foreign Currency Translation Adjustment		Accumulated Other Comprehensive Income (Loss)

Balance at December 31, 2021	$	1,081	$	(138,290)	$	(209,750)	$	(346,959)
Other comprehensive income (loss) before reclassifications	7,179		(2,606)		(62,904)		(58,331)
Amounts reclassified from accumulated other comprehensive income	(3,329)		5,097		—		1,768
Net current-year other comprehensive income (loss)	3,850		2,491		(62,904)		(56,563)

Balance at December 31, 2022	4,931		(135,799)		(272,654)		(403,522)
Other comprehensive income before reclassifications	8,314		42,380		44,902		95,596
Amounts reclassified from accumulated other comprehensive income	(11,849)		5,370		—		(6,479)
Net current-year other comprehensive (loss) income	(3,535)		47,750		44,902		89,117

Balance at December 31, 2023	$	1,396	$	(88,049)	$	(227,752)	$	(314,405)

Reclassification out of Accumulated Other Comprehensive Income

The following table provides information relating to the (gains) losses recognized in the statements of income including the reclassifications of losses (gains) in accumulated other comprehensive (loss) income into expense/

(income), net of tax, for the years ended December 31, 2023, 2022 and 2021:


	Year Ended December 31,
	2023		2022		2021
(Gains) losses on designated foreign exchange forward contracts:
Cost of goods sold	$	(12,234)	$	(3,532)	$	1,150
Total before tax	(12,234)		(3,532)		1,150
Taxes expense	385		203		62
Net of tax	(11,849)		(3,329)		1,212





Amortization of pension and other postretirement benefits items:
Actuarial losses (1)	7,989		7,660		8,543
Prior-service credits (1)	(1,008)		(1,017)		(1,012)

Total before tax	6,981		6,643		7,531
Tax benefit	(1,611)		(1,546)		(1,756)
Net of tax	5,370		5,097		5,775
Impact on income from continuing operations, net of tax	$	(6,479)	$	1,768	$	6,987

(1)These accumulated other comprehensive (loss) income components are included in the computation of net benefit cost of pension and other postretirement benefit plans (see Note 16 for additional information).