| ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME |
ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME Comprehensive (loss) income for the three and six months ended June 30, 2025 and 2024: | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | Dollars in thousands | 2025 | | 2024 | | 2025 | | 2024 | | Net loss | $ | (484,073) | | | $ | (12,402) | | | $ | (509,366) | | | $ | (15,683) | | | Foreign currency translation adjustment | (3,445) | | | (8,674) | | | 8,186 | | | (7,945) | | | Change in unrealized (gain) loss on derivatives, net of tax | (3,190) | | | 594 | | | (11,206) | | | 4,330 | | | Pension liability adjustment, net of tax | (166) | | | — | | | (316) | | | (5) | | | Comprehensive (loss) income, net | $ | (490,874) | | | $ | (20,482) | | | $ | (512,702) | | | $ | (19,303) | |
Changes in accumulated other comprehensive (loss) income by component between December 31, 2024 and June 30, 2025 are presented in the table below, net of tax: | | | | | | | | | | | | | | | | | | | | | | | | | | | | Dollars in thousands | | Gains and Losses on Derivatives | | Defined Benefit Pension Items | | Foreign Currency Items | | Total | Balance at January 1, 2025 | | $ | 26,612 | | | $ | 4,028 | | | $ | (58,211) | | | $ | (27,571) | | | Other comprehensive (loss) gain | | (49,920) | | | | | 12,592 | | | (37,328) | | | Less: Amounts reclassified from accumulated other comprehensive income, net | | (38,714) | | | 316 | | | 4,406 | | | (33,992) | | | Net current-period other comprehensive (loss) gain | | (11,206) | | | (316) | | | 8,186 | | | (3,336) | | Balance at June 30, 2025 | | $ | 15,406 | | | $ | 3,712 | | | $ | (50,025) | | | $ | (30,907) | |
For the six months ended June 30, 2025, the Company reclassified losses of $(40.6) million and $(0.3) million from AOCI to other income and cost of good sold, respectively. Additionally, the Company reclassified a gain of $6.6 million from AOCI to interest income.
|