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Accumulated Other Comprehensive Income (Loss) (Tables)

9 Months Ended

Sep. 30, 2024

Equity [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss)

The following table presents the changes in Accumulated Other Comprehensive Loss ("AOCL"), net of tax for the three months ended September 30, 2024 and 2023:

			2024																								2023
(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 - July 1			$	(576,548)					$	(119,687)					$	(794)					$	(697,029)					$	(532,276)					$	(87,638)					$	(873)					$	(620,787)
Other comprehensive income (loss) before reclassifications (3)			52,872						(3,080)						—						49,792						(43,012)						2,697						—						(40,315)
Amounts reclassified from AOCL			—						859						23						882						—						(492)						30						(462)
Net current-period other comprehensive income (loss) (3)			52,872						(2,221)						23						50,674						(43,012)						2,205						30						(40,777)
Balance - September 30			$	(523,676)					$	(121,908)					$	(771)					$	(646,355)					$	(575,288)					$	(85,433)					$	(843)					$	(661,564)

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(1) Includes foreign currency translation adjustments attributable to noncontrolling interests of $(7.3) million and $2.9 million at July 1, 2024 and 2023, respectively, and $(7.3) million and $(1.9) million at September 30, 2024 and 2023, respectively.

(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 changes in AOCL, net of tax for the nine months ended September 30, 2024 and 2023:

			2024																								2023
(Amounts in thousands)			Foreign currency translation items(1)(4)						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 - January 1			$	(523,873)					$	(121,882)					$	(813)					$	(646,568)					$	(554,683)					$	(86,356)					$	(933)					$	(641,972)
Other comprehensive income (loss) before reclassifications (3)			(3,369)						(2,549)						—						(5,918)						(20,605)						2,425						—						(18,180)
Amounts reclassified from AOCL			3,566						2,523						42						6,131						—						(1,502)						90						(1,412)
Net current-period other comprehensive income (loss) (3)			197						(26)						42						213						(20,605)						923						90						(19,592)
Balance - September 30			$	(523,676)					$	(121,908)					$	(771)					$	(646,355)					$	(575,288)					$	(85,433)					$	(843)					$	(661,564)

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(1) Includes foreign currency translation adjustments attributable to noncontrolling interests of $(7.0) million and $5.8 million at January 1, 2024 and 2023, respectively, and $(7.3) million and $(1.9) million at September 30, 2024 and 2023, respectively.

(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.

(4) Amounts reclassified from AOCL within foreign currency translation items had no associated tax benefit (expense) and are included within loss on sale of business in our condensed consolidated statements of income.

Reclassifications out of Accumulated Other Comprehensive Income (Loss)

The following table presents the reclassifications out of AOCL:

												Three Months Ended September 30,
(Amounts in thousands)						Affected line item in the statement of income						2024(1)						2023(1)
Pension and other postretirement effects
Amortization of actuarial losses(2)						Other income (expense), net						$	(724)					$	321
Prior service costs(2)						Other income (expense), net						(158)						151
						Tax benefit (expense)						23						20
						Net of tax						$	(859)					$	492
Cash flow hedging activity
Amortization of Treasury rate lock						Interest income (expense)						$	(30)					$	(37)
						Tax benefit (expense)						7						7
						Net of tax						$	(23)					$	(30)

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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, "Pension and Postretirement Benefits," for additional details.

The following table presents the reclassifications out of AOCL:

												Nine Months Ended September 30,
(Amounts in thousands)						Affected line item in the statement of income						2024(1)						2023(1)
Pension and other postretirement effects
Amortization of actuarial losses(2)						Other income (expense), net						$	(2,033)					$	985
Prior service costs(2)						Other income (expense), net						(464)						455
						Tax benefit (expense)						(26)						62
						Net of tax						$	(2,523)					$	1,502
Cash flow hedging activity
Amortization of Treasury rate lock						Interest income (expense)						$	(92)					$	(111)
						Tax benefit (expense)						50						21
						Net of tax						$	(42)					$	(90)

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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, "Pension and Postretirement Benefits," for additional details.

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Tabular disclosure of the components of accumulated other comprehensive income (loss).

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 14A
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482790/220-10-45-14A

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481674/830-30-50-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 20
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481694/830-30-45-20

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