| Accumulated Other Comprehensive Loss |
Note 13. Accumulated Other Comprehensive Loss Comprehensive loss for the three and six months ended June 30, 2026 and 2025: | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | Dollars in thousands | 2026 | | 2025 | | 2026 | | 2025 | | Net income (loss) | $ | 4,482 | | | $ | (484,073) | | | $ | (134) | | | $ | (509,366) | | | Foreign currency translation adjustment | (3,413) | | | (3,445) | | | (3,889) | | | 8,186 | | | Change in unrealized gain on derivatives, net of tax | (5,645) | | | (3,190) | | | (5,865) | | | (11,206) | | | Pension liability adjustment, net of tax | (199) | | | (166) | | | (366) | | | (316) | | | Comprehensive loss, net | $ | (4,775) | | | $ | (490,874) | | | $ | (10,254) | | | $ | (512,702) | |
Changes in accumulated other comprehensive loss by component between December 31, 2025 and June 30, 2026 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, 2026 | | $ | 15,948 | | | $ | 4,984 | | | $ | (51,009) | | | $ | (30,077) | | | Other comprehensive gain | | 16,652 | | | | | 877 | | | 17,529 | | | Less: Amounts reclassified from accumulated other comprehensive income, net | | 22,517 | | | 366 | | | 4,766 | | | 27,649 | | | Net current-period other comprehensive (loss) | | (5,865) | | | (366) | | | (3,889) | | | (10,120) | | Balance at June 30, 2026 | | $ | 10,083 | | | $ | 4,618 | | | $ | (54,898) | | | $ | (40,197) | |
For the six months ended June 30, 2026, the Company reclassified gains of $15.8 million and $11.5 million from AOCI to other income and interest income, respectively. Additionally, the Company reclassified a loss of $0.4 million from AOCI to cost of goods sold.
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