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ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME

6 Months Ended

Jun. 30, 2024

Equity [Abstract]

ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME

ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME

Comprehensive (loss) income for the three and six months ended June 30, 2024 and 2023:

			Three Months Ended June 30,												Six Months Ended June 30,
Dollars in thousands			2024						2023						2024						2023
Net (loss) income			$	(12,402)					$	4,184					$	(15,683)					$	28,410
Foreign currency translation adjustment			(8,674)						(10,029)						(7,945)						(6,838)
Change in unrealized loss/(gain) on derivatives, net of tax			594						7,561						4,330						1,069
Pension liability adjustment, net of tax									231						(5)						334
Comprehensive (loss) income, net			$	(20,482)					$	1,947					$	(19,303)					$	22,975

Changes in accumulated other comprehensive (loss) income by component between December 31, 2023 and June 30, 2024 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, 2024						$	21,489					$	2,712					$	(39,307)					$	(15,106)
Other comprehensive gain (loss)						39,109						(5)						(4,361)						34,743
Less: Amounts reclassified from accumulated other comprehensive income, net						34,779						—						3,584						38,363
Net current-period other comprehensive gain (loss)						4,330						(5)						(7,945)						(3,620)
Balance at June 30, 2024						$	25,819					$	2,707					$	(47,252)					$	(18,726)

For the six months ended June 30, 2024, the Company reclassified a gain of $26.9 million and $11.5 million from accumulated other comprehensive income 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://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(19))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(21))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(23))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/220/tableOfContent

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- References

No definition available.

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