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ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) ("AOCI")

6 Months Ended

Jun. 30, 2023

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) ("AOCI")

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) ("AOCI")

NOTE 7 – ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) ("AOCI")

The following tables set forth the total changes in AOCI by component, net of taxes:


		Three Months Ended June 30, 2023
		Unrealized gain
		(loss) on derivatives
		designated and			Defined benefit			Currency
		qualifying as cash			pension plan			translation
		flow hedges			activity			adjustment			Total
Balance at March 31, 2023		$	23,040		$	(1,221)		$	(272,708)		$	(250,889)
Other comprehensive income (loss) before reclassification			(3,459)			—			20,957			17,498
Amounts reclassified from AOCI			(1,429)	¹		(1,366)			—			(2,795)
Net current-period other comprehensive income (loss)			(4,888)			(1,366)			20,957			14,703
Balance at June 30, 2023		$	18,152		$	(2,587)		$	(251,751)		$	(236,186)


		Three Months Ended June 30, 2022
		Unrealized gain
		(loss) on derivatives
		designated and			Defined benefit			Currency
		qualifying as cash			pension plan			translation
		flow hedges			activity			adjustment			Total
Balance at March 31, 2022		$	13,449		$	(13,124)		$	(259,890)		$	(259,565)
Other comprehensive income (loss) before reclassification			9,439			—			(34,616)			(25,177)
Amounts reclassified from AOCI			(489)	¹		(44)			—			(533)
Net current-period other comprehensive income (loss)			8,950			(44)			(34,616)			(25,710)
Balance at June 30, 2022		$	22,399		$	(13,168)		$	(294,506)		$	(285,275)

(1)

During the three months ended June 30, 2023, the AOCI reclassification is a component of Net sales of $1,404 (net of tax of $480) and Cost of goods sold of $(25) (net of tax of $(18)); during the three months ended June 30, 2022, the reclassification is a component of Net sales of $122 (net of tax of $59) and Cost of goods sold of $(367) (net of tax of $(86)). See Note 13 to the consolidated financial statements for additional details.


		Six Months Ended June 30, 2023
		Unrealized gain
		(loss) on derivatives
		designated and			Defined benefit			Currency
		qualifying as cash			pension plan			translation
		flow hedges			activity			adjustment			Total
Balance at December 31, 2022		$	13,909		$	(1,781)		$	(287,526)		$	(275,398)
Other comprehensive income before reclassification			6,675			—			35,775			42,450
Amounts reclassified from AOCI			(2,432)	¹		(806)			—			(3,238)
Net current-period other comprehensive income (loss)			4,243			(806)			35,775			39,212
Balance at June 30, 2023		$	18,152		$	(2,587)		$	(251,751)		$	(236,186)


		Six Months Ended June 30, 2022
		Unrealized gain
		(loss) on derivatives
		designated and			Defined benefit			Currency
		qualifying as cash			pension plan			translation
		flow hedges			activity			adjustment			Total
Balance at December 31, 2021		$	8,094		$	(13,231)		$	(252,442)		$	(257,579)
Other comprehensive income (loss) before reclassification			15,288			—			(42,064)			(26,776)
Amounts reclassified from AOCI			(983)	¹		63			—			(920)
Net current-period other comprehensive income (loss)			14,305			63			(42,064)			(27,696)
Balance at June 30, 2022		$	22,399		$	(13,168)		$	(294,506)		$	(285,275)

(1)

During the six months ended June 30, 2023, the AOCI reclassification is a component of Net sales of $2,269 (net of tax of $821) and Cost of goods sold of $(163) (net of tax of $(61)); during the six months ended June 30, 2022, the reclassification is a component of Net sales of $254 (net of tax of $107) and Cost of goods sold of $(729) (net of tax of $(179)). See Note 13 to the consolidated financial statements for additional details.