| Pre-tax and After-tax Components of Other Comprehensive Income |
The following tables present the tax effects of each component of other comprehensive income for the three and six months ended June 30, 2026 and 2025, respectively: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three months ended June 30, | | | 2026 | | 2025 | | | Pre-tax amount | | Tax benefit/(expense) | | After-tax amount | | Pre-tax amount | | Tax benefit/(expense) | | After-tax amount | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Net gain from defined benefit and postretirement plans | | $ | 466 | | | $ | (116) | | | $ | 350 | | | $ | 226 | | | $ | (55) | | | $ | 171 | | | Net gain (loss) from hedging activities | | 1,284 | | | (321) | | | 963 | | | (3,214) | | | 804 | | | (2,410) | | | Foreign currency translation | | — | | | — | | | — | | | 8,582 | | | — | | | 8,582 | | | Other comprehensive income | | $ | 1,750 | | | $ | (437) | | | $ | 1,313 | | | $ | 5,594 | | | $ | 749 | | | $ | 6,343 | | | | | | | | | | | | | | | | | Six months ended June 30, | | | 2026 | | 2025 | | | Pre-tax
amount | | Tax benefit/
(expense) | | After-tax amount | | Pre-tax
amount | | Tax benefit/
(expense) | | After-tax amount | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Net gain from defined benefit and postretirement plans | | $ | 328 | | | $ | (82) | | | $ | 246 | | | $ | 225 | | | $ | (55) | | | $ | 170 | | | Net gain (loss) from hedging activities | | 2,641 | | | (660) | | | 1,981 | | | (8,952) | | | 2,238 | | | (6,714) | | | Foreign currency translation | | — | | | — | | | — | | | 13,113 | | | — | | | 13,113 | | | Other comprehensive income | | $ | 2,969 | | | $ | (742) | | | $ | 2,227 | | | $ | 4,386 | | | $ | 2,183 | | | $ | 6,569 | | | | | | | | | | | | | | |
The following tables present the changes in accumulated other comprehensive income (loss) (“AOCI”), net of tax, by component for the six months ended June 30, 2026 and 2025, respectively: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Defined benefit
and other
postretirement
plans | | Net gain (loss) from hedging activities | | Foreign
currency
translation | | Total | | December 31, 2025 | | $ | 2,450 | | | $ | 821 | | | $ | — | | | $ | 3,271 | | | Other comprehensive income before reclassifications | | 268 | | | 2,487 | | | — | | | 2,755 | | Amounts reclassified from AOCI(1) | | (22) | | | (506) | | | — | | | (528) | | | Net current period other comprehensive income | | 246 | | | 1,981 | | | — | | | 2,227 | | | June 30, 2026 | | $ | 2,696 | | | $ | 2,802 | | | $ | — | | | $ | 5,498 | | | | | | | | | | | | December 31, 2024 | | $ | 1,467 | | | $ | 9,902 | | | $ | (18,776) | | | $ | (7,407) | | | Other comprehensive income (loss) before reclassifications | | 172 | | | (3,545) | | | 13,113 | | | 9,740 | | Amounts reclassified from AOCI(1) | | (2) | | | (3,169) | | | — | | | (3,171) | | | Net current period other comprehensive income (loss) | | 170 | | | (6,714) | | | 13,113 | | | 6,569 | | | June 30, 2025 | | $ | 1,637 | | | $ | 3,188 | | | $ | (5,663) | | | $ | (838) | | | | | | | | | | |
(1)See the following table for details about these reclassifications. Amounts in parentheses indicate debits.
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| Reclassifications out of Accumulated Other Comprehensive Income |
The following table presents the reclassifications out of AOCI for the three and six months ended June 30, 2026 and 2025, respectively: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Details about AOCI Components | | Amounts reclassified from AOCI(1) | | Affected line item where
income is presented | | | Three months ended
June 30, | | Six months ended
June 30, | | | | | 2026 | | 2025 | | 2026 | | 2025 | | | | Amortization of defined benefit and other postretirement items: | | | | | | | | | | | | Net loss | | $ | 10 | | | $ | 2 | | | $ | 30 | | | $ | 3 | | | Other expense, net(2) | | | | | | | | | | | | | | | | | | | | | | | | Tax benefit | | (3) | | | (1) | | | (8) | | | (1) | | | Provision (benefit) for income taxes | | Net of tax | | $ | 7 | | | $ | 1 | | | $ | 22 | | | $ | 2 | | | | | | | | | | | | | | | | Gains and losses on cash flow hedges: | | | | | | | | | | | | Interest rate caps | | $ | 302 | | | $ | 2,085 | | | $ | 675 | | | $ | 4,225 | | | Interest expense | | Tax benefit | | (76) | | | (521) | | | (169) | | | (1,056) | | | Provision (benefit) for income taxes | | Net of tax | | $ | 226 | | | $ | 1,564 | | | $ | 506 | | | $ | 3,169 | | | | | | | | | | | | | | | | Total reclassifications for the period, net of tax | | $ | 233 | | | $ | 1,565 | | | $ | 528 | | | $ | 3,171 | | | |
(1)Amounts in parentheses indicate debits to profit/loss. (2)These AOCI components are components of net periodic pension and other postretirement cost (see Note 14 to these condensed consolidated financial statements for additional details).
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