Schedule of Accumulated Other Comprehensive Income (Loss) |
The following table summarizes the changes in accumulated other comprehensive income (loss) ("AOCI") attributable to the Company for the three and nine months ended September 30, 2022 and 2021:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three months ended September 30, | | Nine months ended September 30, | (in thousands) | | 2022 | | 2021 | | 2022 | | 2021 | Currency Translation Adjustment | | | | | | | | | Beginning balance | | $ | 50 | | | $ | 8,432 | | | $ | 5,631 | | | $ | 5,739 | | Other comprehensive income (loss) before reclassifications | | (9,828) | | | (3,004) | | | (15,409) | | | (311) | | | | | | | | | | | Tax effect | | — | | | — | | | — | | | — | | Other comprehensive income (loss), net of tax | | (9,828) | | | (3,004) | | | (15,409) | | | (311) | | Ending balance | | $ | (9,778) | | | $ | 5,428 | | | $ | (9,778) | | | $ | 5,428 | | Hedging Adjustment | | | | | | | | | Beginning balance | | $ | 13,784 | | | $ | (10,223) | | | $ | (5,335) | | | $ | (18,106) | | Other comprehensive income (loss) before reclassifications | | 14,492 | | | (146) | | | 37,325 | | | 4,467 | | Amounts reclassified from AOCI (a) | | (210) | | | 2,244 | | | 2,421 | | | 6,604 | | Tax effect | | (3,563) | | | (561) | | | (9,908) | | | (1,651) | | Other comprehensive income (loss), net of tax | | 10,719 | | | 1,537 | | | 29,838 | | | 9,420 | | Ending balance | | $ | 24,503 | | | $ | (8,686) | | | $ | 24,503 | | | $ | (8,686) | | Pension and Other Postretirement Adjustment | | | | | | | | | Beginning balance | | $ | 998 | | | $ | (304) | | | $ | 640 | | | $ | 33 | | Other comprehensive income (loss) before reclassifications | | 69 | | | 69 | | | 983 | | | 74 | | Amounts reclassified from AOCI (b) | | (228) | | | (228) | | | (684) | | | (684) | | Tax effect | | 28 | | | 57 | | | (72) | | | 171 | | Other comprehensive income (loss), net of tax | | (131) | | | (102) | | | 227 | | | (439) | | Ending balance | | $ | 867 | | | $ | (406) | | | $ | 867 | | | $ | (406) | | Investments in Convertible Preferred Securities Adjustment | | | | | | | | | Beginning balance | | $ | 258 | | | $ | 258 | | | $ | 258 | | | $ | 258 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Other comprehensive income (loss), net of tax | | — | | | — | | | — | | | — | | Ending balance | | $ | 258 | | | $ | 258 | | | $ | 258 | | | $ | 258 | | | | | | | | | | | Total AOCI Ending Balance | | $ | 15,850 | | | $ | (3,406) | | | $ | 15,850 | | | $ | (3,406) | |
(a) Amounts reclassified from gain (loss) on cash flow hedges are reclassified from AOCI to income when the hedged item affects earnings and is recognized in Interest expense, net. See Note 5 for additional information. (b) This accumulated other comprehensive loss component is included in the computation of net periodic benefit cost recorded in Operating, administrative and general expenses.
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