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Comprehensive Income | 9 Months Ended
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Sep. 30, 2024
Comprehensive Income |
Comprehensive Income | 13. Comprehensive Income Comprehensive income for the three and nine months ended September 30, 2024 and 2023, was as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended September 30, | ​ | Nine Months Ended September 30,
​ |  | 2024 |  | 2023 |  | 2024 |  | 2023
​ | ​ | (Dollars in thousands)
Net earnings | ​ | $ | 8,063 | ​ | $ | 9,337 | ​ | $ | 20,320 | ​ | $ | 21,646
Foreign currency translation adjustments | ​ |  | 913 | ​ |  | (773) | ​ |  | (118) | ​ |  | (817)
Pension liability adjustment, net of tax of $28, $32, $80, and $97, respectively | ​ |  | 79 | ​ |  | 92 | ​ |  | 225 | ​ |  | 275
Total comprehensive income | ​ | $ | 9,055 | ​ | $ | 8,656 | ​ | $ | 20,427 | ​ | $ | 21,104
​ The components of accumulated other comprehensive loss as recorded in the Consolidated Condensed Balance Sheets (Unaudited) were as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | September 30, |  | December 31,
​ | ​ | 2024 | ​ | 2023
​ | ​ | (Dollars in thousands)
Foreign currency translation adjustments | ​ | $ | (8,072) | ​ | $ | (7,954)
Pension liability, net of tax | ​ |  | (9,132) | ​ |  | (9,357)
Total accumulated other comprehensive loss | ​ | $ | (17,204) | ​ | $ | (17,311)
​ The following tables show changes in accumulated other comprehensive loss during the nine months ended September 30, 2024 and 2023: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Foreign Currency |  | ​ | ​ |  | ​ | ​
​ | ​ | Translation | ​ | Defined Benefit | ​ | ​ | ​
​ |  | Adjustments |  | Pension Items |  | Total
​ | ​ | (Dollars in thousands)
Balance, December 31, 2023 | ​ | $ | (7,954) | ​ | $ | (9,357) | ​ | $ | (17,311)
Other comprehensive loss before reclassifications | ​ | ​ | (118) | ​ | ​ | — | ​ | ​ | (118)
Amounts reclassified from accumulated other comprehensive loss | ​ | ​ | — | ​ | ​ | 225 | ​ | ​ | 225
Net current period other comprehensive (loss) income | ​ | ​ | (118) | ​ | ​ | 225 | ​ | ​ | 107
Balance, September 30, 2024 | ​ | $ | (8,072) | ​ | $ | (9,132) | ​ | $ | (17,204)
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Foreign Currency |  | ​ | ​ |  | ​ | ​
​ | ​ | Translation | ​ | Defined Benefit | ​ | ​ | ​
​ |  | Adjustments |  | Pension Items |  | Total
​ | ​ | (Dollars in thousands)
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)
Balance, September 30, 2023 | ​ | $ | (9,413) | ​ | $ | (11,322) | ​ | $ | (20,735)
​ The following table shows reclassification adjustments out of accumulated other comprehensive loss during the three and nine months ended September 30, 2024 and 2023: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 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 | ​
​ | ​ | 2024 | ​ | 2023 |  | ​ | 2024 | ​ | 2023 |  | earnings is presented | ​
​ | ​ | ​ | (Dollars in thousands) | ​ | ​ | ​
Amortization of defined benefit pension items | ​ | ​ | ​ | ​ | ​ |  |  | ​ | ​ | ​ | ​ | ​ |  |  | ​ | ​
Prior service cost | ​ | $ | 5 | (1) | $ | 5 | (1) | ​ | $ | 15 | (1) | $ | 15 | (1) | Other expense, net | ​
Actuarial losses | ​ | ​ | 102 | (1) |  | 119 | (1) | ​ | ​ | 290 | (1) |  | 357 | (1) | Other expense, net | ​
Total before tax | ​ | ​ | 107 | ​ |  | 124 |  | ​ | ​ | 305 | ​ |  | 372 |  |  | ​
Tax benefit | ​ | ​ | (28) | ​ |  | (32) |  | ​ | ​ | (80) | ​ |  | (97) |  |  | ​
Net of tax | ​ | $ | 79 | ​ | $ | 92 |  | ​ | $ | 225 | ​ | $ | 275 |  |  | ​
​
| (1) | These amounts were included in the computation of pension expense. See Note 7 for additional details.

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