Reclassifications Out of Accumulated Other Comprehensive Income (Loss)

9 Months Ended

Sep. 30, 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 income (loss) during the three and nine months ended September 30, 2025 and 2024 were as follows:


	Defined Benefit Pension Plans			Foreign Currency Translation Adjustments			Cash Flow Hedge Derivatives				Total
Balance at June 30, 2025	$	(1,823	)	$	(45	)	$	3,873			$	2,005
Other comprehensive (loss) income before reclassifications		—			(687	)		2,276				1,589
Income tax effect of other comprehensive (loss) income before reclassifications		—			—			(474	)			(474	)
Amounts reclassified from accumulated other comprehensive income (loss) into net income		21			—			(2,243	)	a		(2,222	)
Income taxes reclassified into net income		(6	)		—			466				460
Net current period other comprehensive income (loss)		15			(687	)		25				(647	)
Balance at September 30, 2025	$	(1,808	)	$	(732	)	$	3,898			$	1,358

(a)

In the three months ended September 30, 2025 $2,086 and $156 were reclassified from accumulated other comprehensive income (loss) into cost of sales and interest expense, net, respectively, in the consolidated condensed statements of income.


	Defined Benefit Pension Plans			Foreign Currency Translation Adjustments			Cash Flow Hedge Derivatives				Total
Balance at June 30, 2024	$	(978	)	$	(53,822	)	$	(899	)		$	(55,699	)
Other comprehensive income (loss) before reclassifications		—			22,691			(1,754	)			20,937
Income tax effect of other comprehensive income (loss) before reclassifications		—			(253	)		382				129
Amounts reclassified from accumulated other comprehensive loss into net income		24			—			(518	)	a		(494	)
Income taxes reclassified into net income		(7	)		—			113				106
Net current period other comprehensive income (loss)		17			22,438			(1,777	)			20,678
Balance at September 30, 2024	$	(961	)	$	(31,384	)	$	(2,676	)		$	(35,021	)

(a)

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


	Defined Benefit Pension Plans			Foreign Currency Translation Adjustments			Cash Flow Hedge Derivatives				Total
Balance at December 31, 2024	$	(1,851	)	$	(80,096	)	$	(3,246	)		$	(85,193	)
Other comprehensive income before reclassifications		—			79,364			11,463				90,827
Income tax effect of other comprehensive income before reclassifications		—			—			(2,423	)			(2,423	)
Amounts reclassified from accumulated other comprehensive income (loss) into net income		59			—			(2,376	)	a		(2,317	)
Income taxes reclassified into net income		(16	)		—			480				464
Net current period other comprehensive income		43			79,364			7,144				86,551
Balance at September 30, 2025	$	(1,808	)	$	(732	)	$	3,898			$	1,358

(a)

In the nine months ended September 30, 2025 $2,220 and $156 were reclassified from accumulated other comprehensive income (loss) into cost of sales and interest expense, net, respectively, in the consolidated condensed statements of income.


	Defined Benefit Pension Plans			Foreign Currency Translation Adjustments			Cash Flow Hedge Derivatives				Total
Balance at December 31, 2023	$	(1,011	)	$	(34,830	)	$	5,681			$	(30,160	)
Other comprehensive income (loss) before reclassifications		—			3,446			(1,948	)			1,498
Income tax effect of other comprehensive income (loss) before reclassifications		—			—			424				424
Amounts reclassified from accumulated other comprehensive loss into net income		69			—			(8,737	)	a		(8,668	)
Income taxes reclassified into net income		(19	)		—			1,904				1,885
Net current period other comprehensive income (loss)		50			3,446			(8,357	)			(4,861	)
Balance at September 30, 2024	$	(961	)	$	(31,384	)	$	(2,676	)		$	(35,021	)

(a)

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

The Company expects that substantially all of the existing gains and losses related to cash flow derivatives reported in accumulated other comprehensive income (loss) as of September 30, 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 income.