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Accumulated Other Comprehensive Loss (Tables) | 6 Months Ended
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Jun. 30, 2024
Equity [Abstract] |
Schedule of Accumulated Other Comprehensive Loss | Changes in Accumulated other comprehensive loss were as follows (in thousands):
| Three months ended June 30, 2024
| Foreign currency translation adjustments |  |  |  | Derivative financial instruments |  | Pension and postretirement benefit plans |  | Total
Balance, beginning of period | $ | (100,033) |  |  |  |  | $ | (2,080) |  |  | $ | (230,445) |  |  | $ | (332,558) |
Other comprehensive loss, before reclassifications | (6,895) |  |  |  |  | (4,110) |  |  | — |  |  | (11,005) |
Income tax benefit | — |  |  |  |  | 1,006 |  |  | — |  |  | 1,006 |
| (6,895) |  |  |  |  | (3,104) |  |  | — |  |  | (9,999) |
Reclassifications: |  |  |  |  |  |  |  |  |
Net loss on derivative financial instruments | — |  |  |  |  | 7,247 |  |  | — |  |  | 7,247 |
Prior service credits(a) | — |  |  |  |  | — |  |  | 337 |  |  | 337 |
Actuarial gains(a) | — |  |  |  |  | — |  |  | (1,413) |  |  | (1,413) |
Reclassifications before tax | — |  |  |  |  | 7,247 |  |  | (1,076) |  |  | 6,171 |
Income tax (expense) benefit | — |  |  |  |  | (1,740) |  |  | 252 |  |  | (1,488) |
| — |  |  |  |  | 5,507 |  |  | (824) |  |  | 4,683 |
Other comprehensive (loss) income | (6,895) |  |  |  |  | 2,403 |  |  | (824) |  |  | (5,316) |
Balance, end of period | $ | (106,928) |  |  |  |  | $ | 323 |  |  | $ | (231,269) |  |  | $ | (337,874) |
| Three months ended June 30, 2023
| Foreign currency translation adjustments |  |  |  | Derivative financial instruments |  | Pension and postretirement benefit plans |  | Total
Balance, beginning of period | $ | (70,150) |  |  |  |  | $ | (32,322) |  |  | $ | (252,180) |  |  | $ | (354,652) |
Other comprehensive (loss) income, before reclassifications | (23,296) |  |  |  |  | 25,694 |  |  | — |  |  | 2,398 |
Income tax benefit (expense) | 3,659 |  |  |  |  | (6,027) |  |  | — |  |  | (2,368) |
| (19,637) |  |  |  |  | 19,667 |  |  | — |  |  | 30 |
Reclassifications: |  |  |  |  |  |  |  |  |
Net gain on derivative financial instruments | — |  |  |  |  | (703) |  |  | — |  |  | (703) |
Prior service credits(a) | — |  |  |  |  | — |  |  | 22 |  |  | 22 |
Actuarial gains(a) | — |  |  |  |  | — |  |  | (1,278) |  |  | (1,278) |
Reclassifications before tax | — |  |  |  |  | (703) |  |  | (1,256) |  |  | (1,959) |
Income tax benefit | — |  |  |  |  | 162 |  |  | 295 |  |  | 457 |
| — |  |  |  |  | (541) |  |  | (961) |  |  | (1,502) |
Other comprehensive (loss) income | (19,637) |  |  |  |  | 19,126 |  |  | (961) |  |  | (1,472) |
Balance, end of period | $ | (89,787) |  |  |  |  | $ | (13,196) |  |  | $ | (253,141) |  |  | $ | (356,124) |
(a) Amounts reclassified are included in the computation of net periodic benefit (income) cost, discussed further in Note 13.
| Six months ended June 30, 2024
| Foreign currency translation adjustments |  |  |  | Derivative financial instruments |  | Pension and postretirement benefit plans |  | Total
Balance, beginning of period | $ | (68,739) |  |  |  |  | $ | (6,601) |  |  | $ | (229,622) |  |  | $ | (304,962) |
Other comprehensive loss, before reclassifications | (38,200) |  |  |  |  | (26,751) |  |  | — |  |  | (64,951) |
Income tax benefit | 11 |  |  |  |  | 6,419 |  |  | — |  |  | 6,430 |
| (38,189) |  |  |  |  | (20,332) |  |  | — |  |  | (58,521) |
Reclassifications: |  |  |  |  |  |  |  |  |
Net loss on derivative financial instruments | — |  |  |  |  | 35,753 |  |  | — |  |  | 35,753 |
Prior service credits(a) | — |  |  |  |  | — |  |  | 674 |  |  | 674 |
Actuarial gains(a) | — |  |  |  |  | — |  |  | (2,826) |  |  | (2,826) |
Reclassifications before tax | — |  |  |  |  | 35,753 |  |  | (2,152) |  |  | 33,601 |
Income tax (expense) benefit | — |  |  |  |  | (8,497) |  |  | 505 |  |  | (7,992) |
| — |  |  |  |  | 27,256 |  |  | (1,647) |  |  | 25,609 |
Other comprehensive (loss) income | (38,189) |  |  |  |  | 6,924 |  |  | (1,647) |  |  | (32,912) |
Balance, end of period | $ | (106,928) |  |  |  |  | $ | 323 |  |  | $ | (231,269) |  |  | $ | (337,874) |
| Six months ended June 30, 2023
| Foreign currency translation adjustments |  |  |  | Derivative financial instruments |  | Pension and postretirement benefit plans |  | Total
Balance, beginning of period | $ | (80,271) |  |  |  |  | $ | (10,440) |  |  | $ | (251,218) |  |  | $ | (341,929) |
Other comprehensive (loss) income, before reclassifications | (12,320) |  |  |  |  | 24,454 |  |  | — |  |  | 12,134 |
Income tax benefit (expense) | 2,804 |  |  |  |  | (5,654) |  |  | — |  |  | (2,850) |
| (9,516) |  |  |  |  | 18,800 |  |  | — |  |  | 9,284 |
Reclassifications: |  |  |  |  |  |  |  |  |
Net gain on derivative financial instruments | — |  |  |  |  | (28,168) |  |  | — |  |  | (28,168) |
Prior service credits(a) | — |  |  |  |  | — |  |  | 44 |  |  | 44 |
Actuarial gains(a) | — |  |  |  |  | — |  |  | (2,556) |  |  | (2,556) |
Reclassifications before tax | — |  |  |  |  | (28,168) |  |  | (2,512) |  |  | (30,680) |
Income tax benefit | — |  |  |  |  | 6,612 |  |  | 589 |  |  | 7,201 |
| — |  |  |  |  | (21,556) |  |  | (1,923) |  |  | (23,479) |
Other comprehensive loss | (9,516) |  |  |  |  | (2,756) |  |  | (1,923) |  |  | (14,195) |
Balance, end of period | $ | (89,787) |  |  |  |  | $ | (13,196) |  |  | $ | (253,141) |  |  | $ | (356,124) |
(a)Amounts reclassified are included in the computation of net periodic benefit (income) cost, discussed further in Note 15

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