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Accumulated Other Comprehensive Loss (Tables) | 6 Months Ended
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Jun. 30, 2024
Equity [Abstract] |
Schedule of Reclassification out of Accumulated Other Comprehensive Loss | Reclassifications out of AOCL were as follows:
| Gain (Loss) Reclassified from AOCL
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Cash flow hedges |  |  |  |  |  |  |
Cost of sales | $ | — |  |  | $ | (34) |  |  | $ | — |  |  | $ | (33) |
Interest expense, net | 2,584 |  |  | 138 |  |  | 5,175 |  |  | 275 |
Total before tax | 2,584 |  |  | 104 |  |  | 5,175 |  |  | 242 |
Income tax provision | 646 |  |  | 26 |  |  | 1,294 |  |  | 61 |
Net of tax | $ | 1,938 |  |  | $ | 78 |  |  | $ | 3,881 |  |  | $ | 181 |
Available-for-sale securities |  |  |  |  |  |  |
Financing revenue | $ | (487) |  |  | $ | (1) |  |  | $ | (1,135) |  |  | $ | 9 |
Income tax (benefit) provision | (122) |  |  | — |  |  | (284) |  |  | 2 |
Net of tax | $ | (365) |  |  | $ | (1) |  |  | $ | (851) |  |  | $ | 7 |
Pension and postretirement benefit plans |  |  |  |  |  |  |
Prior service costs | $ | (68) |  |  | $ | (67) |  |  | $ | (137) |  |  | $ | (132) |
Actuarial losses | (6,593) |  |  | (4,581) |  |  | (13,193) |  |  | (9,147) |
Settlement | — |  |  | (314) |  |  | — |  |  | (314) |
Total before tax | (6,661) |  |  | (4,962) |  |  | (13,330) |  |  | (9,593) |
Income tax benefit | (1,654) |  |  | (1,223) |  |  | (3,282) |  |  | (2,365) |
Net of tax | $ | (5,007) |  |  | $ | (3,739) |  |  | $ | (10,048) |  |  | $ | (7,228) |
Schedule of Accumulated Other Comprehensive Loss | Changes in AOCL, net of tax were as follows:
| Cash flow hedges |  | Available for sale securities |  | Pension and postretirement benefit plans |  | Foreign currency adjustments |  | Total
Balance at January 1, 2024 | $ | 6,962 |  |  | $ | (33,463) |  |  | $ | (757,452) |  |  | $ | (67,292) |  |  | $ | (851,245) |
Other comprehensive income (loss) before reclassifications | 964 |  |  | (1,843) |  |  | — |  |  | (20,417) |  |  | (21,296) |
Reclassifications into earnings | (3,881) |  |  | 851 |  |  | 10,048 |  |  | — |  |  | 7,018 |
Net other comprehensive (loss) income | (2,917) |  |  | (992) |  |  | 10,048 |  |  | (20,417) |  |  | (14,278) |
Balance at June 30, 2024 | $ | 4,045 |  |  | $ | (34,455) |  |  | $ | (747,404) |  |  | $ | (87,709) |  |  | $ | (865,523) |
| Cash flow hedges |  | Available for sale securities |  | Pension and postretirement benefit plans |  | Foreign currency adjustments |  | Total
Balance at January 1, 2023 | $ | 12,503 |  |  | $ | (39,440) |  |  | $ | (716,056) |  |  | $ | (92,571) |  |  | $ | (835,564) |
Other comprehensive (loss) income before reclassifications | (1,506) |  |  | 1,957 |  |  | — |  |  | 20,080 |  |  | 20,531 |
Reclassifications into earnings | (181) |  |  | (7) |  |  | 7,228 |  |  | — |  |  | 7,040 |
Net other comprehensive (loss) income | (1,687) |  |  | 1,950 |  |  | 7,228 |  |  | 20,080 |  |  | 27,571 |
Balance at June 30, 2023 | $ | 10,816 |  |  | $ | (37,490) |  |  | $ | (708,828) |  |  | $ | (72,491) |  |  | $ | (807,993) |

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