| Reclassifications Out of Accumulated Other Comprehensive Income (Loss) |
Note 13 – Reclassifications Out of Accumulated Other Comprehensive Income (Loss) Reclassification adjustments and other activities impacting accumulated other comprehensive income (loss) during the three and six months ended June 30, 2025 and 2024 were as follows:
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Defined
Benefit
Pension
Plans |
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Foreign
Currency
Translation
Adjustments |
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Cash Flow
Hedge
Derivatives |
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Total |
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Balance at March 31, 2025 |
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$ |
(1,838 |
) |
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$ |
(54,668 |
) |
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$ |
(375 |
) |
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$ |
(56,881 |
) |
Other comprehensive income before reclassifications |
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— |
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54,623 |
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5,634 |
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|
60,257 |
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Income tax effect of other comprehensive income before reclassifications |
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— |
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— |
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|
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(1,212 |
) |
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|
(1,212 |
) |
Amounts reclassified from accumulated other comprehensive income (loss) into net income |
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20 |
|
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— |
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(207 |
) |
a |
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(187 |
) |
Income taxes reclassified into net income |
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(5 |
) |
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— |
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33 |
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28 |
|
Net current period other comprehensive income |
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15 |
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54,623 |
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4,248 |
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|
58,886 |
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Balance at June 30, 2025 |
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$ |
(1,823 |
) |
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$ |
(45 |
) |
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$ |
3,873 |
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$ |
2,005 |
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(a)The amounts reclassified from accumulated other comprehensive income (loss) were included in cost of sales in the consolidated condensed statements of income.
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Defined
Benefit
Pension
Plans |
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Foreign
Currency
Translation
Adjustments |
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|
Cash Flow
Hedge
Derivatives |
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Total |
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Balance at March 31, 2024 |
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$ |
(997 |
) |
|
$ |
(49,212 |
) |
|
$ |
5,014 |
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$ |
(45,195 |
) |
Other comprehensive (loss) income before reclassifications |
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— |
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(4,970 |
) |
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(3,690 |
) |
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(8,660 |
) |
Income tax effect of other comprehensive (loss) income before reclassifications |
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— |
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|
360 |
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|
804 |
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1,164 |
|
Amounts reclassified from accumulated other comprehensive loss into net income |
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24 |
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— |
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(3,870 |
) |
a |
|
(3,846 |
) |
Income taxes reclassified into net income |
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(5 |
) |
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— |
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|
843 |
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|
838 |
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Net current period other comprehensive income (loss) |
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19 |
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(4,610 |
) |
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(5,913 |
) |
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(10,504 |
) |
Balance at June 30, 2024 |
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$ |
(978 |
) |
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$ |
(53,822 |
) |
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$ |
(899 |
) |
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$ |
(55,699 |
) |
(a)The amounts reclassified from accumulated other comprehensive income (loss) were included in cost of sales in the consolidated condensed statements of income.
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Defined
Benefit
Pension
Plans |
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Foreign
Currency
Translation
Adjustments |
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Cash Flow
Hedge
Derivatives |
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Total |
|
Balance at December 31, 2024 |
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$ |
(1,851 |
) |
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$ |
(80,096 |
) |
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$ |
(3,246 |
) |
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$ |
(85,193 |
) |
Other comprehensive income before reclassifications |
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— |
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|
80,051 |
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|
9,187 |
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|
89,238 |
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Income tax effect of other comprehensive income before reclassifications |
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|
— |
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— |
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|
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(1,949 |
) |
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(1,949 |
) |
Amounts reclassified from accumulated other comprehensive income (loss) into net income |
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38 |
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— |
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(133 |
) |
a |
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(95 |
) |
Income taxes reclassified into net income |
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(10 |
) |
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— |
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14 |
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|
4 |
|
Net current period other comprehensive income |
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28 |
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80,051 |
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7,119 |
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|
87,198 |
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Balance at June 30, 2025 |
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$ |
(1,823 |
) |
|
$ |
(45 |
) |
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$ |
3,873 |
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$ |
2,005 |
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(a)The amounts reclassified from accumulated other comprehensive income (loss) were included in cost of sales in the consolidated condensed statements of income.
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Defined
Benefit
Pension
Plans |
|
|
Foreign
Currency
Translation
Adjustments |
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|
Cash Flow
Hedge
Derivatives |
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Total |
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Balance at December 31, 2023 |
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$ |
(1,011 |
) |
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$ |
(34,830 |
) |
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$ |
5,681 |
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$ |
(30,160 |
) |
Other comprehensive (loss) income before reclassifications |
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— |
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(19,245 |
) |
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(194 |
) |
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(19,439 |
) |
Income tax effect of other comprehensive (loss) income before reclassifications |
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|
— |
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|
|
253 |
|
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42 |
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|
295 |
|
Amounts reclassified from accumulated other comprehensive loss into net income |
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45 |
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|
— |
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(8,219 |
) |
a |
|
(8,174 |
) |
Income taxes reclassified into net income |
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(12 |
) |
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— |
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1,791 |
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|
1,779 |
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Net current period other comprehensive income (loss) |
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33 |
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(18,992 |
) |
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(6,580 |
) |
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(25,539 |
) |
Balance at June 30, 2024 |
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$ |
(978 |
) |
|
$ |
(53,822 |
) |
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$ |
(899 |
) |
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$ |
(55,699 |
) |
(a)The amounts reclassified from accumulated other comprehensive income (loss) were included in cost of sales in the consolidated condensed statements of income. The Company expects that substantially all of the existing gains and losses related to foreign currency derivatives reported in accumulated other comprehensive income (loss) as of June 30, 2025 to be reclassified into earnings during the next twelve months. See Note 10 for additional information about derivative financial instruments and the effects from reclassification to net income.
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