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COMPREHENSIVE INCOME

12 Months Ended

Dec. 31, 2023

COMPREHENSIVE INCOME

COMPREHENSIVE INCOME

13. COMPREHENSIVE INCOME

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

​

​	​	​	​	​	​	​
​		December 31,			December 31,
​	​	2023		​	2022
​	​	(Dollars in thousands)
Foreign currency translation adjustments	​	$	(7,954)	​	$	(8,596)
Pension liability, net of tax	​		(9,357)	​		(11,597)
Total accumulated other comprehensive loss	​	$	(17,311)	​	$	(20,193)

​

The following table shows changes in accumulated other comprehensive loss during the years ended December 31, 2023 and 2022 (dollars in thousands):

​	​	​	​	​	​	​	​	​	​
​		Foreign Currency			​	​		​	​
​	​	Translation		​	Defined Benefit		​	​	​
​		Adjustments			Pension Items			Total
Balance, December 31, 2021	​	$	(6,783)	​	$	(18,011)	​	$	(24,794)
Other comprehensive (loss) income before reclassifications	​	​	(1,813)	​	​	5,767	​	​	3,954
Amounts reclassified from accumulated other comprehensive loss	​	​	—	​	​	647	​	​	647
Net current period other comprehensive (loss) income	​	​	(1,813)	​	​	6,414	​	​	4,601
Balance, December 31, 2022	​	$	(8,596)	​	$	(11,597)	​	$	(20,193)
Other comprehensive income before reclassifications	​	​	642	​	​	1,874	​	​	2,516
Amounts reclassified from accumulated other comprehensive loss	​	​	—	​	​	366	​	​	366
Net current period other comprehensive income	​	​	642	​	​	2,240	​	​	2,882
Balance, December 31, 2023	​	$	(7,954)	​	$	(9,357)	​	$	(17,311)

​

The following table shows reclassification adjustments out of accumulated other comprehensive loss during the years ended December 31, 2023 and 2022 (dollars in thousands):

​	​	​	​	​	​	​	​	​
​	​	Amounts reclassified from accumulated					​	​
​	​	other comprehensive loss for the year					​	Affected line item in the
​	​	ended December 31,					​	statement where net earnings
​	​	2023		​	2022			is presented
Amortization of defined benefit pension items	​	​	​	​	​			​
Prior service cost	​	$	20	(1)	$	6	(1)	Other expense, net
Actuarial losses	​	​	475	(1)		869	(1)	Other expense, net
Total before tax	​	​	495	​		875		​
Tax benefit	​	​	(129)	​		(228)		​
Net of tax	​	$	366	​	$	647		​

​

(1) These amounts were included in the computation of pension expense. See Note 12 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://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(19))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(21))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(23))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//220/tableOfContent

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- Definition

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+ References

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