v3.26.1
Equity (Tables)
 3 Months Ended
Mar. 31, 2026
Equity [Abstract]  
Components and Activity in Accumulated Other Comprehensive (Loss) Income Net of Deferred Income Taxes
The components and activity in Accumulated other comprehensive loss (net of deferred income taxes) consisted of the following during the periods indicated below (in thousands):
Three Months Ended March 31, 2026Three Months Ended March 31, 2025
Foreign Currency Translation and Other(a)
Cash Flow Hedge(b)
TotalForeign Currency Translation and Other
Cash Flow Hedge(b)
Total
Balance, beginning of period$(339,519)$4,712 $(334,807)$(747,202)$5,140 $(742,062)
Other comprehensive income (loss) before reclassifications26,453 (110)26,343 108,999 (231)108,768 
Amounts reclassified from accumulated other comprehensive loss49,314 3 49,317 16 124 140 
Other comprehensive income (loss), net of tax75,767 (107)75,660 109,015 (107)108,908 
Other comprehensive loss attributable to noncontrolling interests35 — 35 18 — 18 
Balance, end of period$(263,717)$4,605 $(259,112)$(638,169)$5,033 $(633,136)
(a)Amount reclassified from accumulated other comprehensive loss for the three-month period ended March 31, 2026 is primarily included in Loss on sale of business on the consolidated statement of income, and resulted from the release of cumulative foreign currency translation adjustments into earnings upon the sale of the Refining Solutions business on March 2, 2026. See Note 2, “Divestitures,” for additional information.
(b)We previously entered into a foreign currency forward contract, which was designated and accounted for as a cash flow hedge under ASC 815, Derivatives and Hedging. During 2024, the Company dedesignated the remaining foreign currency forward contracts accounted for as cash flow hedges. The balance of the settled hedged foreign currency forward contracts will be reclassified to earnings over the life of the related assets.
Amount of Income Tax (Expense) Benefit Allocated to Component Of Other Comprehensive Income (Loss)
The amount of income tax benefit (expense) allocated to each component of Other comprehensive income for the three-month periods ended March 31, 2026 and 2025 is provided in the following tables (in thousands):
Three Months Ended March 31, 2026Three Months Ended March 31, 2025
Foreign Currency Translation and OtherCash Flow HedgeTotalForeign Currency Translation and OtherCash Flow HedgeTotal
Other comprehensive income (loss), before tax$75,738 $(107)$75,631 $109,018 $(107)$108,911 
Income tax benefit (expense)29 — 29 (3)— (3)
Other comprehensive income (loss), net of tax$75,767 $(107)$75,660 $109,015 $(107)$108,908