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Comprehensive Income

3 Months Ended

Mar. 31, 2022

Comprehensive Income

Comprehensive Income

14.  Comprehensive Income

Comprehensive income for the three months ended March 31, 2022 and 2021, was as follows:

​

​	​	​	​	​	​	​
​	​	Three Months Ended March 31,
​		2022			2021
​	​	(Dollars in thousands)
Net earnings	​	$	4,053	​	$	1,325
Foreign currency translation adjustments	​		521	​		(143)
Pension liability, net of tax of $54 and $64, respectively	​		154	​		183
Total comprehensive income	​	$	4,728	​	$	1,365

​

The components of accumulated other comprehensive loss as recorded in the Consolidated Condensed Balance Sheets (Unaudited) were as follows:

​

​	​	​	​	​	​	​
​		March 31,			December 31,
​	​	2022		​	2021
​	​	(Dollars in thousands)
Foreign currency translation adjustments	​	$	(6,262)	​	$	(6,783)
Pension liability, net of tax	​		(17,857)	​		(18,011)
Total accumulated other comprehensive loss	​	$	(24,119)	​	$	(24,794)

​

The following table shows changes in accumulated other comprehensive loss during the three months ended March 31, 2022 and 2021:

​

​	​	​	​	​	​	​	​	​	​
​		Foreign			Defined			​	​
​	​	Currency		​	Benefit		​	​	​
​	​	Translation		​	Pension		​	​	​
​	​	Adjustments		​	Items		​	Total
Beginning balance, December 31, 2021	​	$	(6,783)	​	$	(18,011)	​	$	(24,794)
Other comprehensive income before reclassifications	​	​	521	​	​	—	​	​	521
Amounts reclassified from accumulated other comprehensive loss	​	​	—	​	​	154	​	​	154
Net current period other comprehensive income	​	​	521	​	​	154	​	​	675
Ending balance, March 31, 2022	​	$	(6,262)	​	$	(17,857)	​	$	(24,119)

​

​	​	​	​	​	​	​	​	​	​
​		Foreign			Defined			​	​
​	​	Currency		​	Benefit		​	​	​
​	​	Translation		​	Pension		​	​	​
​	​	Adjustments		​	Items		​	Total
Beginning balance, December 31, 2020	​	$	(6,050)	​	$	(21,955)	​	$	(28,005)
Other comprehensive loss before reclassifications	​	​	(143)	​	​	—	​	​	(143)
Amounts reclassified from accumulated other comprehensive loss	​	​	—	​	​	183	​	​	183
Net current period other comprehensive (loss) income		​	(143)		​	183		​	40
Ending balance, March 31, 2021	​	$	(6,193)	​	$	(21,772)	​	$	(27,965)

​

The following table shows  reclassification adjustments out of accumulated other comprehensive loss during the three months ended March 31, 2022:

​

​	​	​	​	​	​
​	​	Amounts reclassified from		​	​
​	​	accumulated other		​	​
​	​	comprehensive loss for		​	Affected line item in the
​	​	the three months ended		​	statement where net income is
​		March 31, 2022			presented
Amortization of defined benefit pension items		​
Prior service cost	​	$	2	(1)	Other (expense) income, net
Actuarial losses	​		206	(1)	Other (expense) income, net
Total before tax	​		208	​
Tax benefit	​		(54)	​
Net of tax	​	$	154	​

(1) These amounts were included in pension expense. See Note 8 for additional details.

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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 http://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 http://asc.fasb.org/extlink&oid=123367319&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 http://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 http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

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- Definition

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+ References

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