Equity (Tables)

12 Months Ended

Dec. 31, 2024

Components and Activity in Accumulated Other Comprehensive (Loss) Income, Net of Deferred Income Taxes

The components and activity in Accumulated other comprehensive loss (net of deferred income taxes) consisted of the following during the years ended December 31, 2024, 2023 and 2022 (in thousands):


	Foreign Currency Translation and Other		Cash Flow Hedge(a)		Interest Rate Swap(b)		Total
Balance at December 31, 2021	$	(391,674)	$	6,623	$	(7,399)	$	(392,450)
Other comprehensive loss before reclassifications	(171,367)		(4,399)		—		(175,766)
Amounts reclassified from accumulated other comprehensive loss	72		—		7,399		7,471
Other comprehensive (loss) income, net of tax	(171,295)		(4,399)		7,399		(168,295)
Other comprehensive loss attributable to noncontrolling interests	83		—		—		83
Balance at December 31, 2022	$	(562,886)	$	2,224	$	—	$	(560,662)
Other comprehensive income before reclassifications	26,337		5,986		—		32,323
Amounts reclassified from accumulated other comprehensive loss	66		(135)		—		(69)
Other comprehensive income, net of tax	26,403		5,851		—		32,254
Other comprehensive income attributable to noncontrolling interests	(118)		—		—		(118)
Balance at December 31, 2023	$	(536,601)	$	8,075	$	—	$	(528,526)
Other comprehensive loss before reclassifications	(210,611)		(28,701)		—		(239,312)
Amounts reclassified from accumulated other comprehensive loss	77		25,766		—		25,843
Other comprehensive loss, net of tax	(210,534)		(2,935)		—		(213,469)
Other comprehensive income attributable to noncontrolling interests	(67)		—		—		(67)
Balance at December 31, 2024	$	(747,202)	$	5,140	$	—	$	(742,062)

(a) We previously entered into a foreign currency forward contract, which was designated and accounted for as a cash flow hedge under ASC 815, Derivatives and Hedging. During the year ended December 31, 2024, the Company dedesignated the remaining foreign currency forward contracts accounted for as cash flow hedges. The related loss was reclassified to Other income, net during the year ended December 31, 2024. The balance of the settled hedged foreign currency forward contracts will be reclassified to earnings over the life of the related assets. See Note 17, “Restructuring Charges and Asset Write-offs,” and Note 22, “Fair Value of Financial Instruments,” for additional information.

(b) The pre-tax portion of the amount reclassified from accumulated other comprehensive loss is included in interest expense. The balance of this interest rate swap was being amortized to Interest and financing expenses over the life of the 4.15% senior notes originally due in 2024. As discussed in Note 12, “Long-term Debt,” the Company repaid these notes in the second quarter of 2022, and as a result, reclassified the remaining balance of this interest rate swap to interest expense during the same period as part of the early extinguishment of debt.

Amount of Income Tax (Expense) Benefit Allocated to Component of Other Comprehensive (Loss) Income

The amount of income tax (expense) benefit allocated to each component of Other comprehensive (loss) income for the years ended December 31, 2024, 2023 and 2022 is provided in the following tables (in thousands):


	Foreign Currency Translation and Other		Cash Flow Hedge		Interest Rate Swap		Total
2024
Other comprehensive loss, before tax	$	(210,522)	$	(2,935)	$	—	$	(213,457)
Income tax expense	(12)		—		—		(12)
Other comprehensive loss, net of tax	$	(210,534)	$	(2,935)	$	—	$	(213,469)

2023
Other comprehensive income, before tax	$	23,964	$	8,358	$	—	$	32,322
Income tax benefit (expense)	2,439		(2,507)		—		(68)
Other comprehensive income, net of tax	$	26,403	$	5,851	$	—	$	32,254

2022
Other comprehensive (loss) income, before tax	$	(168,953)	$	(4,399)	$	9,739	$	(163,613)
Income tax expense	(2,342)		—		(2,340)		(4,682)
Other comprehensive (loss) income, net of tax	$	(171,295)	$	(4,399)	$	7,399	$	(168,295)