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ACCUMULATED OTHER COMPREHENSIVE LOSS | 6 Months Ended
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Jun. 30, 2022
Equity [Abstract] |
ACCUMULATED OTHER COMPREHENSIVE LOSS | ACCUMULATED OTHER COMPREHENSIVE LOSS Comprehensive income for the six months ended June 30, 2022 and 2021 was as follows:
| Three Months Ended June 30, |  | Six Months Ended June 30,
Dollars in thousands | 2022 |  | 2021 |  | 2022 |  | 2021
Net income | $ | 44,788 |  |  | $ | 35,068 |  |  | $ | 77,689 |  |  | $ | 80,462 |
Foreign currency translation adjustment | (18,067) |  |  | 1,558 |  |  | (23,749) |  |  | (5,243) |
Change in unrealized gain (loss) on derivatives, net of tax | 25,922 |  |  | (7,804) |  |  | 55,744 |  |  | 29,111 |
Pension liability adjustment, net of tax | (45) |  |  | (91) |  |  | (54) |  |  | 228 |
Comprehensive income, net | $ | 52,598 |  |  | $ | 28,731 |  |  | $ | 109,630 |  |  | $ | 104,558 |
Changes in accumulated other comprehensive loss by component between December 31, 2021 and June 30, 2022 are presented in the table below, net of tax:
Dollars in thousands |  | Gains and Losses on Derivatives |  | Defined Benefit Pension Items |  | Foreign Currency Items |  | Total
Balance at January 1, 2022 |  | $ | (42,981) |  |  | $ | 1,893 |  |  | $ | (4,067) |  |  | $ | (45,155) |
Other comprehensive gain (loss) |  | 72,499 |  |  | (54) |  |  | (23,750) |  |  | 48,695 |
Less: Amounts reclassified from accumulated other comprehensive income, net |  | 16,755 |  |  | — |  |  | — |  |  | 16,755 |
Net current-period other comprehensive gain (loss) |  | 55,744 |  |  | (54) |  |  | (23,750) |  |  | 31,940 |
Balance at June 30, 2022 |  | $ | 12,763 |  |  | $ | 1,839 |  |  | $ | (27,817) |  |  | $ | (13,215) |
For the six months ended June 30, 2022, the Company reclassified a gain of $22.8 million and a loss of $5.2 million from accumulated other comprehensive loss to other income, net and interest income, respectively.

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- 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -URI https://asc.fasb.org/topic&trid=2134417 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(21)) -URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04(23)) -URI https://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04(19)) -URI https://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263 + Details
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