| Schedule of Components of Accumulated Other Comprehensive (Loss) Income |
The components of accumulated other comprehensive loss is as follows: | | | | | | | | | | | | | | | | | | March 31, | | | | 2026 | | 2025 | | Foreign currency translation adjustment – net of tax | | $ | (21,599) | | | $ | (33,942) | | | Pension liability – net of tax | | 14,442 | | | 12,661 | | | Postretirement obligations – net of tax | | 1,527 | | | 1,573 | | | Split-dollar life insurance arrangements – net of tax | | 502 | | | 526 | | | Derivatives qualifying as hedges – net of tax | | (1,620) | | | (1,919) | | | | | | | | Accumulated other comprehensive loss | | $ | (6,748) | | | $ | (21,101) | |
Changes in accumulated other comprehensive income by component are as follows (in thousands):
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | March 31, 2026 | | | | | Retirement Obligations | | Foreign Currency | | Change in Derivatives Qualifying as Hedges | | Total | | Beginning balance net of tax | | | $ | 14,760 | | | $ | (33,942) | | | $ | (1,919) | | | (21,101) | | | Other comprehensive income (loss) before reclassification | | | 2,605 | | | 12,343 | | | (1,155) | | | 13,793 | | | Amounts reclassified from other comprehensive loss to net income | | | (894) | | | — | | | 1,454 | | | 560 | | | Net current period other comprehensive (loss) income | | | 1,711 | | | 12,343 | | | 299 | | | 14,353 | | | Ending balance net of tax | | | $ | 16,471 | | | $ | (21,599) | | | $ | (1,620) | | | $ | (6,748) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | March 31, 2025 | | | | | Retirement Obligations | | Foreign Currency | | Change in Derivatives Qualifying as Hedges | | Total | | Beginning balance net of tax | | | $ | (10,696) | | | $ | (32,785) | | | $ | 3,804 | | | (39,677) | | | Other comprehensive income (loss) before reclassification | | | 7,274 | | | (1,157) | | | 2,243 | | | 8,360 | | | Amounts reclassified from other comprehensive loss to net income | | | 18,182 | | | — | | | (7,966) | | | 10,216 | | | Net current period other comprehensive (loss) income | | | 25,456 | | | (1,157) | | | (5,723) | | | 18,576 | | | Ending balance net of tax | | | $ | 14,760 | | | $ | (33,942) | | | $ | (1,919) | | | $ | (21,101) | |
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| Schedule of Reclassification Out of Accumulated Other Comprehensive Loss |
Details of amounts reclassified out of accumulated other comprehensive loss for the year ended March 31, 2026 are as follows (in thousands):
| | | | | | | | | | | | | | | | Details of AOCL Components | | Amount reclassified from AOCL | | Affected line item on consolidated statement of operations | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Net pension amount unrecognized | | | | | | | | $ | (1,205) | | | (1) | | | | (1,205) | | | Total before tax | | | | 311 | | | Tax benefit | | | | $ | (894) | | | Net of tax | | | | | | | Change in derivatives qualifying as hedges | | | | | | | | $ | (173) | | | Cost of products sold | | | (1,114) | | | Interest expense | | | 3,217 | | | Foreign currency | | | | 1,930 | | | Total before tax | | | | (476) | | | Tax benefit | | | | $ | 1,454 | | | Net of tax |
(1)These accumulated other comprehensive loss components are included in the computation of net periodic pension cost. (See Note 13 for additional details.) Details of amounts reclassified out of accumulated other comprehensive loss for the year ended March 31, 2025 are as follows (in thousands): | | | | | | | | | | | | | Details of AOCL Components | | Amount reclassified from AOCL | Affected line item on consolidated statement of operations | | | | | | | | | | | | | | | | | | | | | | | | | | Net pension amount unrecognized | | | | | | | $ | 24,118 | | (1) | | | | 24,118 | | Total before tax | | | | (5,936) | | Tax benefit | | | | $ | 18,182 | | Net of tax | | | | | | Change in derivatives qualifying as hedges | | | | | | | $ | 36 | | Cost of products sold | | | (10,717) | | Interest expense | | | 20 | | Foreign currency | | | | (10,661) | | Total before tax | | | | 2,695 | | Tax benefit | | | | $ | (7,966) | | Net of tax |
(1)These accumulated other comprehensive loss components are included in the computation of net periodic pension cost. (See Note 13 for additional details.)
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