XML 41 R32.htm IDEA: XBRL DOCUMENT
v3.23.3

Accumulated Other Comprehensive Income (AOCI) (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2023
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] |
Schedule of Accumulated Other Comprehensive Income (Loss) | 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) |
Summary of Reclassification out of Accumulated Other Comprehensive Income | 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 Tabular disclosure of information about items reclassified out of accumulated other comprehensive income (loss). + References No definition available. + Details
Name: | us-gaap_ReclassificationOutOfAccumulatedOtherComprehensiveIncomeTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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 + Details
Name: | us-gaap_ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration