| Accumulated Other Comprehensive Income (Loss) |
11.ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) Below is the change in the Company’s accumulated other comprehensive income (loss) (AOCI) balance by component (net of income taxes) for the three months ended March 31, 2026 and 2025:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(In thousands) |
|
Foreign
Currency
Translation
Adjustments |
|
|
Defined
Benefit
Pension Plan
Adjustments |
|
|
Cash Flow
Hedge
Adjustments |
|
|
Total |
|
Balance at December 31, 2024 |
|
$ |
(175,802 |
) |
|
$ |
(25,996 |
) |
|
$ |
4,960 |
|
|
$ |
(196,838 |
) |
Other comprehensive income (loss) before
reclassifications |
|
|
21,609 |
|
|
|
— |
|
|
|
(1,112 |
) |
|
|
20,497 |
|
Amounts reclassified from AOCI |
|
|
— |
|
|
|
55 |
|
|
|
(2 |
) |
|
|
53 |
|
Net current-period other comprehensive income (loss) |
|
|
21,609 |
|
|
|
55 |
|
|
|
(1,114 |
) |
|
|
20,550 |
|
Balance at March 31, 2025 |
|
$ |
(154,193 |
) |
|
$ |
(25,941 |
) |
|
$ |
3,846 |
|
|
$ |
(176,288 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance at December 31, 2025 |
|
$ |
(113,982 |
) |
|
$ |
(26,982 |
) |
|
$ |
1,990 |
|
|
$ |
(138,974 |
) |
Other comprehensive income (loss) before
reclassifications |
|
|
262 |
|
|
|
— |
|
|
|
(103 |
) |
|
|
159 |
|
Amounts reclassified from AOCI |
|
|
— |
|
|
|
145 |
|
|
|
(2 |
) |
|
|
143 |
|
Net current-period other comprehensive income (loss) |
|
|
262 |
|
|
|
145 |
|
|
|
(105 |
) |
|
|
302 |
|
Balance at March 31, 2026 |
|
$ |
(113,720 |
) |
|
$ |
(26,837 |
) |
|
$ |
1,885 |
|
|
$ |
(138,672 |
) |
Information regarding the reclassifications out of AOCI for the three months ended March 31, 2026 and 2025, is displayed below:
|
|
|
|
|
|
|
|
|
|
|
(In thousands) |
|
Amount Reclassified from AOCI (1) |
|
|
|
AOCI Components |
|
Three Months Ended
March 31, |
|
|
Affected Line Item in
Condensed Consolidated
Statements of Income |
|
|
2026 |
|
|
2025 |
|
|
|
Amortization of defined benefit
pension actuarial losses |
|
$ |
(193 |
) |
|
$ |
(73 |
) |
|
(2) |
|
|
|
48 |
|
|
|
18 |
|
|
Tax benefit |
|
|
$ |
(145 |
) |
|
$ |
(55 |
) |
|
Net of tax |
Gains and losses on cash flow
hedges: |
|
|
|
|
|
|
|
|
Foreign exchange contracts |
|
|
2 |
|
|
|
2 |
|
|
Cost of sales |
|
|
|
2 |
|
|
|
2 |
|
|
Total before tax |
|
|
|
— |
|
|
|
— |
|
|
Tax benefit |
|
|
$ |
2 |
|
|
$ |
2 |
|
|
Net of tax |
Total reclassifications for the period |
|
$ |
(143 |
) |
|
$ |
(53 |
) |
|
Net of tax |
(1)Amounts in parentheses denote expense to the Company’s Condensed Consolidated Statements of Income. (2)This component of accumulated other comprehensive income is included in the computation of net periodic benefit cost. See Note 9, Postretirement Benefit Plans, of the notes to the Company’s condensed consolidated financial statements (included in Item 1 of this Form 10-Q) for additional details. |