XML 22 R13.htm IDEA: XBRL DOCUMENT
v3.23.3

Accumulated Other Comprehensive Income (AOCI) | 9 Months Ended
--- | ---
Sep. 30, 2023
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] |
Accumulated Other Comprehensive Income (AOCI) | Accumulated Other Comprehensive Income ("AOCI") The table below presents changes in the components of AOCI for the period from December 31, 2022 to September 30, 2023:
(in thousands) | Translation adjustments | Pension and postretirement liability adjustments | Derivative valuation adjustment | Total Other Comprehensive Income
December 31, 2022 | $ | (146,851) |  | $ | (15,783) |  | $ | 17,707 |  | $ | (144,927) |
Other comprehensive income/(loss) before reclassifications, net of tax | (4,326) |  | (183) |  | 3,386 |  | (1,123) |
Interest (expense)/income related to swaps reclassified to the Consolidated Statements of Income, net of tax | — |  | — |  | (8,136) |  | (8,136) |
Pension and postretirement liability adjustments reclassified to Consolidated Statements of Income, net of tax | — |  | (1,423) |  | — |  | (1,423) |
Net current period other comprehensive income | (4,326) |  | (1,606) |  | (4,750) |  | (10,682) |
September 30, 2023 | $ | (151,177) |  | $ | (17,389) |  | $ | 12,957 |  | $ | (155,609) |
The table below presents changes in the components of AOCI for the period from December 31, 2021 to September 30, 2022:
(in thousands) | Translation adjustments | Pension and postretirement liability adjustments | Derivative valuation adjustment | Total Other Comprehensive Income
December 31, 2021 | $ | (105,880) |  | $ | (38,490) |  | $ | (1,614) |  | $ | (145,984) |
Other comprehensive income/(loss) before reclassifications, net of tax | (79,841) |  | — |  | 17,569 |  | (62,272) |
Pension settlement expense, net of tax | — |  | 26,198 |  | — |  | 26,198 |
Interest (expense)/income related to swaps reclassified to the Consolidated Statements of Income, net of tax | — |  | — |  | 2,006 |  | 2,006 |
Pension and postretirement liability adjustments reclassified to Consolidated Statements of Income, net of tax | — |  | (321) |  | — |  | (321) |
Net current period other comprehensive income | (79,841) |  | 25,877 |  | 19,575 |  | (34,389) |
September 30, 2022 | $ | (185,721) |  | $ | (12,613) |  | $ | 17,961 |  | $ | (180,373) |
The components of AOCI that are reclassified to the Consolidated Statements of Income relate to our pension and postretirement plans and interest rate swaps. The table below presents the expense/(income) amounts reclassified from AOCI, and the line items of the Consolidated Statements of Income that were affected for the three and nine months ended September 30, 2023 and 2022:
| Three months ended September 30, | Nine months ended September 30,
(in thousands) | 2023 | 2022 | 2023 | 2022
Pretax Derivative valuation reclassified from Accumulated Other Comprehensive Income: |  |  |  |
Other (income)/expense, net related to interest rate swaps included in Income before taxes | $ | (3,990) |  | $ | (106) |  | $ | (10,891) |  | $ | 2,758 |
Income tax effect | 1,009 |  | (27) |  | 2,755 |  | (752) |
Effect on net income due to items reclassified from Accumulated Other Comprehensive Income | $ | (2,981) |  | $ | (133) |  | $ | (8,136) |  | $ | 2,006 |
Pretax pension and postretirement liabilities reclassified from Accumulated Other Comprehensive Income: |  |  |  |
Pension settlement expense | $ | — |  | $ | 42,657 |  | $ | — |  | $ | 42,657 |
Amortization of prior service credit | (1,031) |  | (1,123) |  | (3,092) |  | (3,368) |
Amortization of net actuarial loss | 349 |  | 967 |  | 1,042 |  | 2,905 |
Total pretax amount reclassified (a) | (682) |  | 42,501 |  | (2,050) |  | 42,194 |
Income tax effect | 208 |  | (16,411) |  | 627 |  | (16,317) |
Effect on net income due to items reclassified from Accumulated Other Comprehensive Income | $ | (474) |  | $ | 26,090 |  | $ | (1,423) |  | $ | 25,877 |
(a)These accumulated other comprehensive income components are included in the computation of net periodic pension cost (see Note 3. Pensions and Other Postretirement Benefit Plans).

X
- References No definition available. + Details
Name: | us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTaxAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04(19)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(21)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04(23)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//220/tableOfContent + Details
Name: | us-gaap_ComprehensiveIncomeNoteTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration