Accumulated Other Comprehensive Income Attributable to SMP

9 Months Ended

Sep. 30, 2024

Accumulated Other Comprehensive Income Attributable to SMP

Changes in Accumulated Other Comprehensive Income by Component (in thousands)


	Three Months Ended September 30, 2024
	Foreign Currency Translation		Cash Flow Hedge			Postretirement Benefit Plans		Total
Balance at June 30, 2024	$	(13,850)	$	4,369		$	19	$	(9,462)
Other comprehensive income (loss) before reclassifications	2,443		(2,055)		(a)	—		388
Amounts reclassified from accumulated other comprehensive income	—		(497)			(3)		(500)
Other comprehensive income (loss), net of tax	2,443		(2,552)			(3)		(112)
Balance at September 30, 2024	$	(11,407)	$	1,817		$	16	$	(9,574)


	Nine Months Ended September 30, 2024
	Foreign Currency Translation		Cash Flow Hedge			Postretirement Benefit Plans		Total
Balance at December 31, 2023	$	(8,897)	$	2,899		$	24	$	(5,974)
Other comprehensive income (loss) before reclassifications	(2,510)		406		(a)	—		(2,104)
Amounts reclassified from accumulated other comprehensive income	—		(1,488)			(8)		(1,496)
Other comprehensive income (loss), net of tax	(2,510)		(1,082)			(8)		(3,600)
Balance at September 30, 2024	$	(11,407)	$	1,817		$	16	$	(9,574)

(a)Consists of the unrecognized loss relating to the change in fair value of the cash flow interest rate hedge of $3.5 million ($2.6 million, net of tax) and $1.5 million ($1.1 million, net of tax) in the three and nine months ended September 30, 2024, respectively, and cash settlement receipts of $0.7 million ($0.5 million, net of tax) and $2.0 million (1.5 million, net of tax) in the three and nine months ended September 30, 2024, respectively.

Reclassifications Out of Accumulated Other Comprehensive Income (in thousands)


	Three Months Ended September 30, 2024		Nine Months Ended September 30, 2024
Derivative cash flow hedge gain (a)	$	(671)	$	(2,010)
Postretirement benefit plans unrecognized gain (b)	(5)		(14)
Total before income tax	(676)		(2,024)
Income tax expense	(176)		(528)
Total reclassifications attributable to SMP	$	(500)	$	(1,496)

(a)Unrecognized accumulated other comprehensive income (loss) related to the cash flow interest rate hedge is reclassified to earnings and reported as part of interest expense in our consolidated statements of operations when the interest payments on the underlying borrowings are recognized.

(b)Unrecognized accumulated other comprehensive income (loss) related to our postretirement benefit plans is reclassified to earnings and included in the computation of net periodic postretirement benefit costs, which are included in other non-operating income, net in our consolidated statements of operations (see Note 12, “Employee Benefits,” for additional information).