| Other comprehensive income (loss) |
| | | | | | | NOTE 5: OTHER COMPREHENSIVE INCOME (LOSS) |
Reclassification adjustments – Information regarding amounts reclassified from accumulated other comprehensive loss to net income was as follows:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Accumulated other comprehensive loss components | | Amounts reclassified from accumulated other comprehensive loss | | Affected line item in consolidated statements of comprehensive income | | | Quarter Ended
June 30, | | Six Months Ended
June 30, | | | | (in thousands) | | 2025 | | 2024 | | 2025 | | 2024 | | | Amortization of postretirement benefit plan items: | | | | | | | | | | | | Prior service credit | | $ | 355 | | | $ | 355 | | | $ | 711 | | | $ | 711 | | | Other income, net | | Net actuarial loss | | (212) | | | (334) | | | (424) | | | (667) | | | Other income, net | | Total amortization | | 143 | | | 21 | | | 287 | | | 44 | | | Other income, net | | Tax expense | | (76) | | | (44) | | | (152) | | | (89) | | | Income tax provision | | Amortization of postretirement benefit plan items, net of tax | | 67 | | | (23) | | | 135 | | | (45) | | | Net income | | Cash flow hedges: | | | | | | | | | | | Realized gain on cash flow hedges | | — | | | 895 | | | — | | | 1,810 | | | Interest expense | Tax expense | | — | | | (242) | | | — | | | (489) | | | Income tax provision | Realized gain on cash flow hedges, net of tax | | — | | | 653 | | | — | | | 1,321 | | | Net income | | Total reclassifications, net of tax | | $ | 67 | | | $ | 630 | | | $ | 135 | | | $ | 1,276 | | | |
Accumulated other comprehensive loss – Changes in the components of accumulated other comprehensive loss for the six months ended June 30, 2025 and June 30, 2024 were as follows:
| | | | | | | | | | | | | | | | | | | | | | (in thousands) | | Postretirement benefit plans | | Currency translation adjustment | | Accumulated other comprehensive loss | Balance, December 31, 2024 | | $ | (16,566) | | | $ | (13,350) | | | $ | (29,916) | | Other comprehensive income before reclassifications | | — | | | 1,104 | | | 1,104 | | Amounts reclassified from accumulated other comprehensive loss | | (135) | | | — | | | (135) | | Net current-period other comprehensive (loss) income | | (135) | | | 1,104 | | | 969 | | Balance, June 30, 2025 | | $ | (16,701) | | | $ | (12,246) | | | $ | (28,947) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | (in thousands) | | Postretirement benefit plans | | Net unrealized gain on cash flow hedges(1) | | Currency translation adjustment | | Accumulated other comprehensive loss | Balance, December 31, 2023 | | $ | (19,824) | | | $ | (286) | | | $ | (9,918) | | | $ | (30,028) | | Other comprehensive income (loss) before reclassifications | | — | | | 6,903 | | | (1,499) | | | 5,404 | | Amounts reclassified from accumulated other comprehensive loss | | 45 | | | (1,321) | | | — | | | (1,276) | | Net current-period other comprehensive income (loss) | | 45 | | | 5,582 | | | (1,499) | | | 4,128 | | Balance, June 30, 2024 | | $ | (19,779) | | | $ | 5,296 | | | $ | (11,417) | | | $ | (25,900) | |
(1) Other comprehensive income before reclassifications is net of income tax expense of $2,553.
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