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Accumulated Other Comprehensive Income ("AOCI") (Tables) | 6 Months Ended
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Jun. 30, 2025
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, 2024 to June 30, 2025:
(in thousands) | Translation adjustments | Pension and postretirement liability adjustments | Derivative valuation adjustment | Total Accumulated Other Comprehensive Income
December 31, 2024 | $ | (181,555) |  | $ | (14,328) |  | $ | (106) |  | $ | (195,989) |
Foreign currency translation and other adjustments | 55,971 |  | (2,699) |  | (520) |  | 52,752 |
Pension settlement/curtailment, net of tax | — |  | (1,178) |  | — |  | (1,178) |
Interest (expense)/income related to swaps reclassified to the Consolidated Statements of Income, net of tax | — |  | — |  | (237) |  | (237) |
Pension and postretirement liability adjustments reclassified to Consolidated Statements of Income, net of tax | — |  | 360 |  | — |  | 360 |
Net current period other comprehensive income | 55,971 |  | (3,517) |  | (757) |  | 51,697 |
June 30, 2025 | $ | (125,584) |  | $ | (17,845) |  | $ | (863) |  | $ | (144,292) |
The table below presents changes in the components of AOCI for the period from December 31, 2023 to June 30, 2024:
(in thousands) | Translation adjustments | Pension and postretirement liability adjustments | Derivative valuation adjustment | Total Accumulated Other Comprehensive Income
December 31, 2023 | $ | (124,901) |  | $ | (17,346) |  | $ | 9,079 |  | $ | (133,168) |
Foreign currency translation and other adjustments | (29,403) |  | 435 |  | 1,231 |  | (27,737) |
Interest (expense)/income related to swaps reclassified to the Consolidated Statements of Income, net of tax | — |  | — |  | (6,195) |  | (6,195) |
Pension and postretirement liability adjustments reclassified to Consolidated Statements of Income, net of tax | — |  | 193 |  | — |  | 193 |
Net current period other comprehensive income | (29,403) |  | 628 |  | (4,964) |  | (33,739) |
June 30, 2024 | $ | (154,304) |  | $ | (16,718) |  | $ | 4,115 |  | $ | (166,907) |
Schedule 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 six months ended June 30, 2025 and 2024:
| Three months ended June 30, | Six months ended June 30,
(in thousands) | 2025 | 2024 | 2025 | 2024
Pre-tax Derivative valuation reclassified from Accumulated Other Comprehensive Income: |  |  |  |
Interest (income)/expense, net related to interest rate swaps included in Income before taxes | $ | (79) |  | $ | (4,180) |  | $ | (271) |  | $ | (8,218) |
Income tax effect | 20 |  | 1,001 |  | 34 |  | 2,023 |
Effect on net income due to items reclassified from Accumulated Other Comprehensive Income | $ | (59) |  | $ | (3,179) |  | $ | (237) |  | $ | (6,195) |
Pre-tax pension and postretirement liabilities reclassified from Accumulated Other Comprehensive Income: |  |  |  |
Pension settlement/curtailment | $ | (3,200) |  | $ | — |  | $ | (1,600) |  | $ | 0 |
Amortization of prior service credit | $ | (37) |  | $ | (38) |  | $ | (74) |  | $ | (76) |
Amortization of net actuarial loss | 306 |  | 176 |  | 593 |  | 354 |
Total pre-tax amount reclassified (a) | (2,931) |  | 138 |  | (1,081) |  | 278 |
Income tax effect | 763 |  | (42) |  | 264 |  | (85) |
Effect on net income due to items reclassified from Accumulated Other Comprehensive Income | $ | (2,168) |  | $ | 96 |  | $ | (817) |  | $ | 193 |
(a)These accumulated other comprehensive income components are included in the computation of net periodic pension cost (see Note 4. Pensions and Other Postretirement Benefit Plans).

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