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Comprehensive Income | 9 Months Ended
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Sep. 30, 2023
Comprehensive Income |
Comprehensive Income | 13. Comprehensive Income Comprehensive income for the three and nine months ended September 30, 2023 and 2022, was as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended September 30, | ​ | Nine Months Ended September 30,
​ |  | 2023 |  | 2022 |  | 2023 |  | 2022
​ | ​ | (Dollars in thousands)
Net earnings | ​ | $ | 9,337 | ​ | $ | 10,770 | ​ | $ | 21,646 | ​ | $ | 19,318
Foreign currency translation adjustments | ​ |  | (773) | ​ |  | (1,684) | ​ |  | (817) | ​ |  | (2,398)
Pension liability adjustment, net of tax of $32, $57, $97, and $171, respectively | ​ |  | 92 | ​ |  | 162 | ​ |  | 275 | ​ |  | 486
Total comprehensive income | ​ | $ | 8,656 | ​ | $ | 9,248 | ​ | $ | 21,104 | ​ | $ | 17,406
​ The components of accumulated other comprehensive loss as recorded in the Consolidated Condensed Balance Sheets (Unaudited) were as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | September 30, |  | December 31,
​ | ​ | 2023 | ​ | 2022
​ | ​ | (Dollars in thousands)
Foreign currency translation adjustments | ​ | $ | (9,413) | ​ | $ | (8,596)
Pension liability, net of tax | ​ |  | (11,322) | ​ |  | (11,597)
Total accumulated other comprehensive loss | ​ | $ | (20,735) | ​ | $ | (20,193)
​ ​ The following tables show changes in accumulated other comprehensive loss during the nine months ended September 30, 2023 and 2022: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Foreign |  | Defined |  | ​ | ​
​ | ​ | Currency | ​ | Benefit | ​ | ​ | ​
​ | ​ | Translation | ​ | Pension | ​ | ​ | ​
​ | ​ | Adjustments | ​ | Items | ​ | Total
Beginning balance, December 31, 2022 | ​ | $ | (8,596) | ​ | $ | (11,597) | ​ | $ | (20,193)
Other comprehensive loss before reclassifications | ​ | ​ | (817) | ​ | ​ | — | ​ | ​ | (817)
Amounts reclassified from accumulated other comprehensive loss | ​ | ​ | — | ​ | ​ | 275 | ​ | ​ | 275
Net current period other comprehensive (loss) income | ​ | ​ | (817) | ​ | ​ | 275 | ​ | ​ | (542)
Ending balance, September 30, 2023 | ​ | $ | (9,413) | ​ | $ | (11,322) | ​ | $ | (20,735)
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Foreign |  | Defined |  | ​ | ​
​ | ​ | Currency | ​ | Benefit | ​ | ​ | ​
​ | ​ | Translation | ​ | Pension | ​ | ​ | ​
​ | ​ | Adjustments | ​ | Items | ​ | Total
Beginning balance, December 31, 2021 | ​ | $ | (6,783) | ​ | $ | (18,011) | ​ | $ | (24,794)
Other comprehensive loss before reclassifications | ​ | ​ | (2,398) | ​ | ​ | — | ​ | ​ | (2,398)
Amounts reclassified from accumulated other comprehensive loss | ​ | ​ | — | ​ | ​ | 486 | ​ | ​ | 486
Net current period other comprehensive (loss) income |  | ​ | (2,398) |  | ​ | 486 |  | ​ | (1,912)
Ending balance, September 30, 2022 | ​ | $ | (9,181) | ​ | $ | (17,525) | ​ | $ | (26,706)
​ The following table shows reclassification adjustments out of accumulated other comprehensive loss during the three and nine month periods ended September 30, 2023 and 2022: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Amounts Reclassified from Accumulated Other Comprehensive Loss | ​ | Affected line item in the
​ | ​ | Three Months Ended September 30, | ​ | Nine Months Ended September 30, | ​ | statement where net income is
​ |  | 2023 |  | 2022 |  | 2023 |  | 2022 |  | presented
Amortization of defined benefit pension items |  | ​ |  |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  |  |
Prior service cost | ​ | $ | 5 | ​ | $ | 2 | ​ | $ | 15 | ​ | $ | 5 | (1) | Other (expense) income, net
Actuarial losses | ​ |  | 119 | ​ | ​ | 217 | ​ | ​ | 357 | ​ |  | 652 | (1) | Other (expense) income, net
Total before tax | ​ |  | 124 | ​ | ​ | 219 | ​ | ​ | 372 | ​ |  | 657 |  |
Tax benefit | ​ |  | (32) | ​ | ​ | (57) | ​ | ​ | (97) | ​ |  | (171) |  |
Net of tax | ​ | $ | 92 | ​ | $ | 162 | ​ | $ | 275 | ​ | $ | 486 |  |
​
| (1) | These amounts were included in pension expense. See Note 7 for additional details.

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