Reclassifications Out of Accumulated Other Comprehensive Income (Loss)

3 Months Ended

Mar. 31, 2025

Reclassifications Out of Accumulated Other Comprehensive Income (Loss)

Note 13 – Reclassifications Out of Accumulated Other Comprehensive Income (Loss)

Reclassification adjustments and other activities impacting accumulated other comprehensive loss during the three months ended March 31, 2025 and 2024 were as follows:


	Defined Benefit Pension Plans			Foreign Currency Translation Adjustments			Foreign Currency Hedge Derivatives				Total
Balance at December 31, 2024	$	(1,851	)	$	(80,096	)	$	(3,246	)		$	(85,193	)
Other comprehensive income before reclassifications		—			25,428			3,553				28,981
Income tax effect of other comprehensive income before reclassifications		—			—			(737	)			(737	)
Amounts reclassified from accumulated other comprehensive loss into net loss		18			—			74		a		92
Income taxes reclassified into net loss		(5	)		—			(19	)			(24	)
Net current period other comprehensive income		13			25,428			2,871				28,312
Balance at March 31, 2025	$	(1,838	)	$	(54,668	)	$	(375	)		$	(56,881	)

(a)

The amounts reclassified from accumulated other comprehensive income were included in cost of sales in the consolidated condensed statements of (loss) income.


	Defined Benefit Pension Plans			Foreign Currency Translation Adjustments			Foreign Currency Hedge Derivatives				Total
Balance at December 31, 2023	$	(1,011	)	$	(34,830	)	$	5,681			$	(30,160	)
Other comprehensive (loss) income before reclassifications		—			(14,275	)		3,496				(10,779	)
Income tax effect of other comprehensive (loss) income before reclassifications		—			(107	)		(762	)			(869	)
Amounts reclassified from accumulated other comprehensive loss into net income		21			—			(4,349	)	a		(4,328	)
Income taxes reclassified into net income		(7	)		—			948				941
Net current period other comprehensive income (loss)		14			(14,382	)		(667	)			(15,035	)
Balance at March 31, 2024	$	(997	)	$	(49,212	)	$	5,014			$	(45,195	)

(a)

The amounts reclassified from accumulated other comprehensive loss were included in cost of sales in the consolidated condensed statements of (loss) income.

The Company expects that substantially all of the existing gains and losses related to foreign currency derivatives reported in accumulated other comprehensive loss as of March 31, 2025 to be reclassified into earnings during the next twelve months. See Note 10 for additional information about derivative financial instruments and the effects from reclassification to net (loss) income.