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Equity
 12 Months Ended
Dec. 31, 2022
Equity [Abstract]  
Equity

Note 17 – Equity

The following table presents changes in accumulated other comprehensive (loss) income, net of tax, by components of accumulated other comprehensive (loss) income for the years ended December 31, 2022, 2021 and 2020:

 

(In thousands)

 

Unrealized
Gains (Losses)
on Available-
for-Sale
Securities

 

 

Defined
Benefit Plan
Adjustments

 

 

Foreign
Currency
Adjustments

 

 

ASU 2018-02 Adoption (1)

 

 

Total

 

Balance as of December 31, 2019

 

$

(284

)

 

$

(9,226

)

 

$

(7,292

)

 

$

385

 

 

$

(16,417

)

Other comprehensive (loss) income before reclassifications

 

 

749

 

 

 

(1,231

)

 

 

4,857

 

 

 

—

 

 

 

4,375

 

Amounts reclassified from accumulated other comprehensive (loss) income

 

 

(433

)

 

 

836

 

 

 

—

 

 

 

—

 

 

 

403

 

Balance as of December 31, 2020

 

 

32

 

 

 

(9,621

)

 

 

(2,435

)

 

 

385

 

 

 

(11,639

)

Other comprehensive (loss) income before reclassifications

 

 

(705

)

 

 

3,439

 

 

 

(3,699

)

 

 

—

 

 

 

(965

)

Amounts reclassified from accumulated other comprehensive (loss) income

 

 

121

 

 

 

569

 

 

 

—

 

 

 

—

 

 

 

690

 

Balance as of December 31, 2021

 

 

(552

)

 

 

(5,613

)

 

 

(6,134

)

 

 

385

 

 

 

(11,914

)

Other comprehensive (loss) income before reclassifications

 

 

(41

)

 

 

4,519

 

 

 

53,396

 

 

 

—

 

 

 

57,874

 

Amounts reclassified from accumulated other comprehensive (loss) income

 

 

(243

)

 

 

78

 

 

 

—

 

 

 

—

 

 

 

(165

)

Net current period other comprehensive (loss) income

 

 

(284

)

 

 

4,597

 

 

 

53,396

 

 

 

—

 

 

 

57,709

 

Less: Comprehensive Loss attributable to non-controlling interest, net of tax

 

 

—

 

 

 

—

 

 

 

(918

)

 

 

—

 

 

 

(918

)

Balance as of December 31, 2022

 

$

(836

)

 

$

(1,016

)

 

$

48,180

 

 

$

385

 

 

$

46,713

 
(1)
With the adoption of ASU 2018-02 on January 1, 2019, stranded tax effects related to the Tax Cuts and Jobs Act of 2017 were reclassified to retained earnings.

 

 

The following tables present the details of reclassifications out of accumulated other comprehensive (loss) income for the years ended December 31, 2022, 2021 and 2020:

 

(In thousands)

 

For the year ended December 31,

 

 

 

Details about Accumulated Other Comprehensive (Loss)
Income Components

 

2022

 

 

2021

 

 

2020

 

 

Affected Line Item in the
Statement Where Net (Loss) Income Is Presented

Unrealized (loss) gains on available-for-sale securities:

 

 

 

 

 

 

 

 

 

 

 

Net realized gain (loss) on sales of securities

 

$

328

 

 

$

(164

)

 

$

585

 

 

Net investment gain

Defined benefit plan adjustments – actuarial losses

 

 

(113

)

 

 

(825

)

 

 

(1,212

)

 

(1)

Total reclassifications for the period, before tax

 

 

215

 

 

 

(989

)

 

 

(627

)

 

 

Tax (benefit) expense

 

 

(50

)

 

 

299

 

 

 

224

 

 

 

Total reclassifications for the period, net of tax

 

$

165

 

 

$

(690

)

 

$

(403

)

 

 

 

(1)
Included in the computation of net periodic pension cost. See Note 16 for additional information.

The following tables present the tax effects related to the change in each component of other comprehensive (loss) income for the years ended December 31, 2022, 2021 and 2020:

 

 

 

2022

 

(In thousands)

 

Before-Tax
Amount

 

 

Tax
(Expense)
Benefit

 

 

Net-of-Tax
Amount

 

Unrealized gains (losses) on available-for-sale securities

 

$

(55

)

 

$

14

 

 

$

(41

)

Reclassification adjustment for amounts related to available-for-sale investments included in net income (loss)

 

 

(328

)

 

 

85

 

 

 

(243

)

Defined benefit plan adjustments

 

 

6,549

 

 

 

(2,030

)

 

 

4,519

 

Reclassification adjustment for amounts related to defined benefit plan adjustments included in net income (loss)

 

 

113

 

 

 

(35

)

 

 

78

 

Foreign currency translation adjustment

 

 

53,396

 

 

 

—

 

 

 

53,396

 

Total Other Comprehensive (Loss) Income

 

$

59,675

 

 

$

(1,966

)

 

$

57,709

 

 

 

 

2021

 

(In thousands)

 

Before-Tax
Amount

 

 

Tax
(Expense)
Benefit

 

 

Net-of-Tax
Amount

 

Unrealized gains (losses) on available-for-sale securities

 

$

(953

)

 

$

248

 

 

$

(705

)

Reclassification adjustment for amounts related to available-for-sale investments included in net income (loss)

 

 

164

 

 

 

(43

)

 

 

121

 

Defined benefit plan adjustments

 

 

4,984

 

 

 

(1,545

)

 

 

3,439

 

Reclassification adjustment for amounts related to defined benefit plan adjustments included in net income (loss)

 

 

825

 

 

 

(256

)

 

 

569

 

Foreign currency translation adjustment

 

 

(3,699

)

 

 

—

 

 

 

(3,699

)

Total Other Comprehensive (Loss) Income

 

$

1,321

 

 

$

(1,596

)

 

$

(275

)

 

 

 

2020

 

(In thousands)

 

Before-Tax
Amount

 

 

Tax
(Expense)
Benefit

 

 

Net-of-Tax
Amount

 

Unrealized gains (losses) on available-for-sale securities

 

$

1,012

 

 

$

(263

)

 

$

749

 

Reclassification adjustment for amounts related to available-for-sale investments included in net (loss) income

 

 

(585

)

 

 

152

 

 

 

(433

)

Defined benefit plan adjustments

 

 

(1,784

)

 

 

553

 

 

 

(1,231

)

Reclassification adjustment for amounts related to defined benefit plan adjustments included in net (loss) income

 

 

1,212

 

 

 

(376

)

 

 

836

 

Foreign currency translation adjustment

 

 

4,857

 

 

 

—

 

 

 

4,857

 

Total Other Comprehensive (Loss) Income

 

$

4,712

 

 

$

66

 

 

$

4,778