Accumulated Other Comprehensive Income (Loss)

6 Months Ended

Jun. 30, 2023

Accumulated Other Comprehensive Income (Loss)

The following table presents the changes in AOCL, net of tax for the three months ended June 30, 2023 and 2022:


	2023								2022
(Amounts in thousands)	Foreign currency translation items(1)		Pension and other post-retirement effects		Cash flow hedging activity (2)		Total		Foreign currency translation items(1)		Pension and other post-retirement effects		Cash flow hedging activity (2)		Total
Balance - April 1	$	(541,177)	$	(86,799)	$	(903)	$	(628,879)	$	(472,769)	$	(98,078)	$	(1,307)	$	(572,154)
Other comprehensive income (loss) before reclassifications (3)	8,901		(1,345)		—		7,556		(64,160)		5,415		—		(58,745)
Amounts reclassified from AOCL	—		506		30		536		—		1,155		29		1,184
Net current-period other comprehensive income (loss) (3)	8,901		(839)		30		8,092		(64,160)		6,570		29		(57,561)
Balance - June 30	$	(532,276)	$	(87,638)	$	(873)	$	(620,787)	$	(536,929)	$	(91,508)	$	(1,278)	$	(629,715)

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(1) Includes foreign currency translation adjustments attributable to noncontrolling interests of $2.7 million and $5.9 million at April 1, 2023 and 2022, respectively, and $2.9 million and $5.9 million at June 30, 2023 and 2022, respectively. Also includes the impacts from the changes in fair value of our cross-currency swaps, which were $26.5 million for the three months ended June 30, 2022.

(2) Other comprehensive loss before reclassifications and amounts reclassified from AOCL to interest expense related to designated cash flow hedges.

(3) Amounts in parentheses indicate an increase to AOCL.

The following table presents the reclassifications out of AOCL:


		Three Months Ended June 30,
(Amounts in thousands)	Affected line item in the statement of income	2023(1)		2022(1)












Pension and other postretirement effects
Amortization of actuarial losses(2)	Other income (expense), net	$	(381)	$	(1,468)
Prior service costs(2)	Other income (expense), net	(154)		(144)
	Tax benefit	29		457
	Net of tax	$	(506)	$	(1,155)

Cash flow hedging activity
Amortization of Treasury rate lock	Interest income (expense)	$	(37)	$	(29)
	Tax benefit (expense)	7		—
	Net of tax	$	(30)	$	(29)

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(1) Amounts in parentheses indicate decreases to income. None of the reclassified amounts have a noncontrolling interest component.

(2) These AOCL components are included in the computation of net periodic pension cost. See Note 11 for additional details.