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ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables) | 3 Months Ended
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Mar. 31, 2022
Stockholders' Equity Note [Abstract] |
Schedule of Accumulated Other Comprehensive Loss | Accumulated other comprehensive loss consisted of the following (amounts in thousands):
| Currency Translation Adjustments |  | Gain (Loss) on Derivatives |  | Unrecognized Losses and Prior Service Cost |  | Total
Balance at January 1, 2022 | $ | (236,059) |  |  | $ | (39) |  |  | $ | (10,382) |  |  | $ | (246,480) |
Currency translation adjustments, net (1) | 18,457 |  |  | — |  |  | — |  |  | 18,457 |
Defined benefit pension plans: |  |  |  |  |  |  |
Amortization of unrecognized losses and prior service cost, net of tax of $(182) | — |  |  | — |  |  | 544 |  |  | 544 |
Derivative gain | — |  |  | 303 |  |  | — |  |  | 303 |
Balance at March 31, 2022 | $ | (217,602) |  |  | $ | 264 |  |  | $ | (9,838) |  |  | $ | (227,176) |
(1) The currency translation adjustments, net includes amounts reclassified into other expense within the Condensed Consolidated Statements of Operations of approximately $10 million for the three months ended March 31, 2022 related to the sale of the Australian wheel business. Refer to Note 1 for additional information.
| Currency Translation Adjustments |  | Gain (Loss) on Derivatives |  | Unrecognized Losses and Prior Service Cost |  | Total
Balance at January 1, 2021 | $ | (194,151) |  |  | $ | (413) |  |  | $ | (22,690) |  |  | $ | (217,254) |
Currency translation adjustments, net | (26,665) |  |  | — |  |  | — |  |  | (26,665) |
Defined benefit pension plans: |  |  |  |  |  |  |
Amortization of unrecognized losses and prior service cost, net of tax of $(44) | — |  |  | — |  |  | 873 |  |  | 873 |
Derivative gain | — |  |  | 40 |  |  | — |  |  | 40 |
Balance at March 31, 2021 | $ | (220,816) |  |  | $ | (373) |  |  | $ | (21,817) |  |  | $ | (243,006) |
The change in currency translation adjustments for the three months ended March 31, 2022 as compared to the three months ended March 31, 2021 was due to foreign currency rate fluctuations, the ongoing initiative to rationalize the Company's legal entity structure, and the ongoing management of the intercompany capital structure during the year.

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