| Schedule of Accumulated Other Comprehensive Income (Loss) |
The table below presents changes in the components of AOCI for the period from December 31, 2024 to March 31, 2025: | | | | | | | | | | | | | | | (in thousands) | Translation adjustments | Pension and postretirement liability adjustments | Derivative valuation adjustment | Total Other Comprehensive Income | | December 31, 2024 | $ | (181,555) | | $ | (14,328) | | $ | (106) | | $ | (195,989) | | Other comprehensive income/(loss) before reclassifications, net of tax | 17,136 | | (4,013) | | (457) | | 12,666 | | Pension settlement/curtailment, net of tax | — | | 1,178 | | — | | 1,178 | | | Interest (expense)/income related to swaps reclassified to the Consolidated Statements of Income, net of tax | — | | — | | (178) | | (178) | | Pension and postretirement liability adjustments reclassified to Consolidated Statements of Income, net of tax | — | | 173 | | — | | 173 | | | Net current period other comprehensive income | 17,136 | | (2,662) | | (635) | | 13,839 | | | March 31, 2025 | $ | (164,419) | | $ | (16,990) | | $ | (741) | | $ | (182,150) | |
The table below presents changes in the components of AOCI for the period from December 31, 2023 to March 31, 2024: | | | | | | | | | | | | | | | | (in thousands) | Translation adjustments | Pension and postretirement liability adjustments | Derivative valuation adjustment | Total Other Comprehensive Income | | December 31, 2023 | $ | (124,901) | | $ | (17,346) | | $ | 9,079 | | $ | (133,168) | | | Other comprehensive income/(loss) before reclassifications, net of tax | (12,116) | | 285 | | 892 | | (10,939) | | | | | | | | Interest (expense)/income related to swaps reclassified to the Consolidated Statements of Income, net of tax | — | | — | | (3,016) | | (3,016) | | | Pension and postretirement liability adjustments reclassified to Consolidated Statements of Income, net of tax | — | | 97 | | — | | 97 | | | Net current period other comprehensive income | (12,116) | | 382 | | (2,124) | | (13,858) | | | March 31, 2024 | $ | (137,017) | | $ | (16,964) | | $ | 6,955 | | $ | (147,026) | |
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| Schedule of Reclassification Out of Accumulated Other Comprehensive Income |
The table below presents the expense/(income) amounts reclassified from AOCI, and the line items of the Consolidated Statements of Income that were affected for the three months ended March 31, 2025 and 2024: | | | | | | | | | | | | Three months ended March 31, | | (in thousands) | 2025 | 2024 | | | Pre-tax Derivative valuation reclassified from Accumulated Other Comprehensive Income: | | | | | Interest (income)/expense, net related to interest rate swaps included in Income before taxes | $ | (192) | | $ | (4,038) | | | | | Income tax effect | 14 | | 1,022 | | | | Effect on net income due to items reclassified from Accumulated Other Comprehensive Income | $ | (178) | | $ | (3,016) | | | | | | | | | Pre-tax pension and postretirement liabilities reclassified from Accumulated Other Comprehensive Income: | | | | | Pension settlement/curtailment | $ | 1,600 | | $ | — | | | | | Amortization of prior service credit | $ | (37) | | $ | (38) | | | | Amortization of net actuarial loss | 287 | | 178 | | | | Total pre-tax amount reclassified (a) | 1,850 | | 140 | | | | | Income tax effect | (499) | | (43) | | | | | Effect on net income due to items reclassified from Accumulated Other Comprehensive Income | $ | 1,351 | | $ | 97 | | | |
(a)These accumulated other comprehensive income components are included in the computation of net periodic pension cost (see Note 3. Pensions and Other Postretirement Benefit Plans).
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