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Comprehensive Income

6 Months Ended

Jun. 30, 2022

Comprehensive Income

Comprehensive Income

14.  Comprehensive Income

Comprehensive income for the three and six months ended June 30, 2022 and 2021, was as follows:

​

​	​	​	​	​	​	​	​	​	​	​	​	​
​	​	Three Months Ended June 30,					​	Six Months Ended June 30,
​		2022			2021			2022			2021
​	​	(Dollars in thousands)
Net earnings	​	$	4,495	​	$	3,820	​	$	8,548	​	$	5,145
Foreign currency translation adjustments	​		(1,235)	​		176	​		(714)	​		33
Pension liability, net of tax of $60, $65, $114, and $129, respectively	​		170	​		182	​		324	​		365
Total comprehensive income	​	$	3,430	​	$	4,178	​	$	8,158	​	$	5,543

​

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

​

​	​	​	​	​	​	​
​		June 30,			December 31,
​	​	2022		​	2021
​	​	(Dollars in thousands)
Foreign currency translation adjustments	​	$	(7,497)	​	$	(6,783)
Pension liability, net of tax	​		(17,687)	​		(18,011)
Total accumulated other comprehensive loss	​	$	(25,184)	​	$	(24,794)

​

The following tables show changes in accumulated other comprehensive loss during the six months ended June 30, 2022 and 2021:

​

​	​	​	​	​	​	​	​	​	​
​		​			Defined			​	​
​	​	Foreign Currency		​	Benefit		​	​	​
​	​	Translation		​	Pension		​	​	​
​	​	Adjustments		​	Items		​	Total
Beginning balance, December 31, 2021	​	$	(6,783)	​	$	(18,011)	​	$	(24,794)
Other comprehensive loss before reclassifications	​	​	(714)	​	​	—	​	​	(714)
Amounts reclassified from accumulated other comprehensive loss	​	​	—	​	​	324	​	​	324
Net current period other comprehensive (loss) income	​	​	(714)	​	​	324	​	​	(390)
Ending balance, June 30, 2022	​	$	(7,497)	​	$	(17,687)	​	$	(25,184)

​

​	​	​	​	​	​	​	​	​	​
​		​			Defined			​	​
​	​	Foreign Currency		​	Benefit		​	​	​
​	​	Translation		​	Pension		​	​	​
​	​	Adjustments		​	Items		​	Total
Beginning balance, December 31, 2020	​	$	(6,050)	​	$	(21,955)	​	$	(28,005)
Other comprehensive income before reclassifications	​	​	33	​	​	—	​	​	33
Amounts reclassified from accumulated other comprehensive loss	​	​	—	​	​	365	​	​	365
Net current period other comprehensive income		​	33		​	365		​	398
Ending balance, June 30, 2021	​	$	(6,017)	​	$	(21,590)	​	$	(27,607)

​

The following table shows reclassification adjustments out of accumulated other comprehensive loss during the three and six month periods ended June 30, 2022 and 2021:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Amounts Reclassified from Accumulated Other Comprehensive Loss

​

Affected line item in the

​

​

Three Months Ended June 30,

​

Six Months Ended June 30,

​

statement where net income is

​

2022

2021

​

2022

​

2021

presented

Amortization of defined benefit pension items

​

​

​

​

​

​

​

​

Prior service cost

​

$

1

​

$

(15)

​

$

3

​

$

(31)

(1)

Other income, net

Actuarial losses

​

229

​

​

262

​

​

435

​

525

(1)

Other income, net

Total before tax

​

230

​

​

247

​

​

438

​

494

Tax benefit

​

(60)

​

​

(65)

​

​

(114)

​

(129)

Net of tax

​

$

170

​

$

182

​

$

324

​

$

365

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

X

- 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 https://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 https://asc.fasb.org/extlink&oid=126953954&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 https://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 https://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

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X

- Definition

n/a

+ References

No definition available.

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