Other comprehensive income (loss)

9 Months Ended

Sep. 30, 2023

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]


NOTE 5: OTHER COMPREHENSIVE INCOME (LOSS)

Reclassification adjustments – Information regarding amounts reclassified from accumulated other comprehensive loss to net (loss) income was as follows:


Accumulated other comprehensive loss components	Amounts reclassified from accumulated other comprehensive loss								Affected line item in consolidated statements of comprehensive (loss) income
	Quarter Ended September 30,				Nine Months Ended September 30,
(in thousands)	2023		2022		2023		2022
Amortization of postretirement benefit plan items:
Prior service credit	$	355	$	355	$	1,066	$	1,066	Other income
Net actuarial loss	(568)		(225)		(1,705)		(674)		Other income
Total amortization	(213)		130		(639)		392		Other income
Tax benefit (expense)	17		(79)		49		(237)		Income tax benefit (provision)
Amortization of postretirement benefit plan items, net of tax	(196)		51		(590)		155		Net (loss) income
Realized loss on debt securities	—		—		—		(8)		Revenue
Tax benefit	—		—		—		2		Income tax benefit (provision)
Realized loss on debt securities, net of tax	—		—		—		(6)		Net (loss) income
Realized gain (loss) on cash flow hedges	984		53		2,191		(412)		Interest expense
Tax (expense) benefit	(264)		(15)		(588)		109		Income tax benefit (provision)
Realized gain (loss) on cash flow hedges, net of tax	720		38		1,603		(303)		Net (loss) income
Currency translation adjustment(1)	—		—		(863)		(5,550)		(Loss) gain on sale of businesses and long-lived assets
Total reclassifications, net of tax	$	524	$	89	$	150	$	(5,704)

(1) Relates to the sale of our North American web hosting business during the quarter ended June 30, 2023 and the sale of our Australian web hosting business during the quarter ended June 30, 2022. Further information can be found in Note 6.

Accumulated other comprehensive loss – Changes in the components of accumulated other comprehensive loss for the nine months ended September 30, 2023 and 2022 were as follows:


(in thousands)	Postretirement benefit plans		Net unrealized loss on debt securities(1)		Net unrealized gain on cash flow hedges(2)		Currency translation adjustment		Accumulated other comprehensive loss
Balance, December 31, 2022	$	(26,872)	$	(909)	$	2,593	$	(12,076)	$	(37,264)
Other comprehensive (loss) income before reclassifications	—		(183)		8,487		460		8,764
Amounts reclassified from accumulated other comprehensive loss	590		—		(1,603)		863		(150)
Net current-period other comprehensive income (loss)	590		(183)		6,884		1,323		8,614
Balance, September 30, 2023	$	(26,282)	$	(1,092)	$	9,477	$	(10,753)	$	(28,650)

(1) Other comprehensive loss before reclassifications is net of an income tax benefit of $63.

(2) Other comprehensive income before reclassifications is net of income tax expense of $3,114.


(in thousands)	Postretirement benefit plans		Net unrealized loss on debt securities(1)		Net unrealized gain on cash flow hedges(2)		Currency translation adjustment		Accumulated other comprehensive loss
Balance, December 31, 2021	$	(15,431)	$	(344)	$	(2,261)	$	(13,456)	$	(31,492)
Other comprehensive (loss) income before reclassifications	—		(566)		4,712		(6,006)		(1,860)
Amounts reclassified from accumulated other comprehensive loss	(155)		6		303		5,550		5,704
Net current-period other comprehensive (loss) income	(155)		(560)		5,015		(456)		3,844
Balance, September 30, 2022	$	(15,586)	$	(904)	$	2,754	$	(13,912)	$	(27,648)

(1) Other comprehensive loss before reclassifications is net of an income tax benefit of $197.

(2) Other comprehensive income before reclassifications is net of income tax expense of $1,701.