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Equity | 9 Months Ended
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Sep. 30, 2022
Equity [Abstract] |
Equity | 16. EQUITY Non-Controlling Interest Non-controlling interest represents the equity interest in ADVA held by holders other than the Company. On July 15, 2022, upon the closing of the Business Combination, the ADVA stockholders’ equity ownership percentage in ADVA was 34.57%. The Company has consolidated the financial position and results of operations of ADVA and reflected the proportionate interest held by the ADVA stockholders as non-controlling interest in the accompanying Condensed Consolidated Balance Sheet. As of September 30, 2022, the ADVA stockholders’ equity ownership percentage in ADVA was 34.65%. Stock Repurchase Program During the nine months ended September 30, 2022, the Company did no t repurchase any shares of Company Common Stock and there is no current authorization to repurchase Company Common Stock. Accumulated Other Comprehensive Loss The following tables present the changes in accumulated other comprehensive loss, net of tax, by component:
|  | Three Months Ended September 30, 2022 |
(In thousands) |  | Unrealized (Losses) Gains on Available- for-Sale Securities |  |  | Defined Benefit Plan Adjustments |  |  | Foreign Currency Adjustments |  |  | ASU 2018-02 Adoption |  |  | Total |
Balance as of June 30, 2022 |  | $ | (1,476 | ) |  | $ | (5,713 | ) |  | $ | (9,892 | ) |  | $ | 385 |  |  | $ | (16,696 | )
Other comprehensive loss before reclassifications |  |  | (254 | ) |  |  | — |  |  |  | (23,172 | ) |  |  | — |  |  |  | (23,426 | )
Amounts reclassified from accumulated other comprehensive (loss) income |  |  | (142 | ) |  |  | (118 | ) |  |  | — |  |  |  | — |  |  |  | (260 | )
Net current period other comprehensive (loss) income |  |  | (396 | ) |  |  | (118 | ) |  |  | (23,172 | ) |  |  | — |  |  |  | (23,686 | )
Less: Comprehensive Loss attributable to non-controlling interest, net of tax |  |  | — |  |  |  | — |  |  |  | (94 | ) |  |  | — |  |  |  | (94 | )
Balance as of September 30, 2022 |  | $ | (1,872 | ) |  | $ | (5,831 | ) |  | $ | (32,970 | ) |  | $ | 385 |  |  | $ | (40,288 | )
|  | Three Months Ended September 30, 2021 |
(In thousands) |  | Unrealized Gains (Losses) on Available- for-Sale Securities |  |  | Defined Benefit Plan Adjustments |  |  | Foreign Currency Adjustments |  |  | ASU 2018-02 Adoption |  |  | Total |
Balance as of June 30, 2021 |  | $ | (255 | ) |  | $ | (9,310 | ) |  | $ | (3,960 | ) |  | $ | 385 |  |  | $ | (13,140 | )
Other comprehensive loss before reclassifications |  |  | (29 | ) |  |  | — |  |  |  | (1,389 | ) |  |  | — |  |  |  | (1,418 | )
Amounts reclassified from accumulated other comprehensive (loss) income |  |  | (32 | ) |  |  | 124 |  |  |  | — |  |  |  | — |  |  |  | 92 |
Net current period other comprehensive (loss) income |  |  | (61 | ) |  |  | 124 |  |  |  | (1,389 | ) |  |  | — |  |  |  | (1,326 | )
Balance as of September 30, 2021 |  | $ | (316 | ) |  | $ | (9,186 | ) |  | $ | (5,349 | ) |  | $ | 385 |  |  | $ | (14,466 | )
|  | Nine Months Ended September 30, 2022 |
(In thousands) |  | Unrealized Gains (Losses) on Available- for-Sale Securities |  |  | Defined Benefit Plan Adjustments |  |  | Foreign Currency Adjustments |  |  | ASU 2018-02 Adoption |  |  | Total |
As of December 31, 2021 |  | $ | (552 | ) |  | $ | (5,613 | ) |  | $ | (6,134 | ) |  | $ | 385 |  |  | $ | (11,914 | )
Other comprehensive loss before reclassifications |  |  | (1,818 | ) |  |  | — |  |  |  | (26,930 | ) |  |  | — |  |  |  | (28,748 | )
Amounts reclassified from accumulated other comprehensive income (loss) |  |  | 498 |  |  |  | (218 | ) |  |  | — |  |  |  | — |  |  |  | 280 |
Net current period other comprehensive loss |  |  | (1,320 | ) |  |  | (218 | ) |  |  | (26,930 | ) |  |  | — |  |  |  | (28,468 | )
Less: Comprehensive Loss attributable to non-controlling interest, net of tax |  |  | — |  |  |  | — |  |  |  | (94 | ) |  |  | — |  |  |  | (94 | )
As of September 30, 2022 |  | $ | (1,872 | ) |  | $ | (5,831 | ) |  | $ | (32,970 | ) |  | $ | 385 |  |  | $ | (40,288 | )
|  | Nine Months Ended September 30, 2021 |
(In thousands) |  | Unrealized Gains (Losses) on Available- for-Sale Securities |  |  | Defined Benefit Plan Adjustments |  |  | Foreign Currency Adjustments |  |  | ASU 2018-02 Adoption |  |  | Total |
As of December 31, 2020 |  | $ | 32 |  |  | $ | (9,621 | ) |  | $ | (2,435 | ) |  | $ | 385 |  |  | $ | (11,639 | )
Other comprehensive loss before reclassifications |  |  | (358 | ) |  |  | — |  |  |  | (2,914 | ) |  |  | — |  |  |  | (3,272 | )
Amounts reclassified from accumulated other comprehensive income |  |  | 10 |  |  |  | 435 |  |  |  | — |  |  |  | — |  |  |  | 445 |
Net current period other comprehensive (loss) income |  |  | (348 | ) |  |  | 435 |  |  |  | (2,914 | ) |  |  | — |  |  |  | (2,827 | )
As of September 30, 2021 |  | $ | (316 | ) |  | $ | (9,186 | ) |  | $ | (5,349 | ) |  | $ | 385 |  |  | $ | (14,466 | )
The following tables present the details of reclassifications out of accumulated other comprehensive loss:
|  | Three Months Ended September 30, 2022
(In thousands) |  | Amount Reclassified from Accumulated Other Comprehensive (Loss) Income |  |  | Affected Line Item in the Statement Where Net (Loss) Income Is Presented
Unrealized gain (loss) on available-for-sale securities: |  |  |  |  |
Net realized loss on sales of securities |  | $ | 187 |  |  | Net investment (loss) gain
Defined benefit plan adjustments – actuarial loss |  |  | 171 |  |  | (1)
Total reclassifications for the period, before tax |  |  | 358 |  |  |
Tax benefit |  |  | (98 | ) |  |
Total reclassifications for the period, net of tax |  | $ | 260 |  |  |
(1) A part of the computation of net periodic pension cost, which is included in other income, net in the Condensed Consolidated Statements of Loss.
|  | Three Months Ended September 30, 2021
(In thousands) |  | Amount Reclassified from Accumulated Other Comprehensive (Loss) Income |  |  | Affected Line Item in the Statement Where Net (Loss) Income Is Presented
Unrealized gain (loss) on available-for-sale securities: |  |  |  |  |
Net realized loss on sales of securities |  | $ | 42 |  |  | Net investment (loss) gain
Defined benefit plan adjustments – actuarial gain |  |  | (180 | ) |  | (1)
Total reclassifications for the period, before tax |  |  | (138 | ) |  |
Tax expense |  |  | 46 |  |  |
Total reclassifications for the period, net of tax |  | $ | (92 | ) |  |
(1) A part of the computation of net periodic pension cost, which is included in other income, net in the Condensed Consolidated Statements of Loss.
|  | Nine Months Ended September 30, 2022
(In thousands) |  | Amount Reclassified from Accumulated Other Comprehensive (Loss) Income |  |  | Affected Line Item in the Statement Where Net (Loss) Income Is Presented
Unrealized gain (loss) on available-for-sale securities: |  |  |  |  |
Net realized gain on sales of securities |  | $ | (655 | ) |  | Net investment (loss) gain
Defined benefit plan adjustments – actuarial loss |  |  | 316 |  |  | (1)
Total reclassifications for the period, before tax |  |  | (339 | ) |  |
Tax expense |  |  | 59 |  |  |
Total reclassifications for the period, net of tax |  | $ | (280 | ) |  |
(1) A part of the computation of net periodic pension cost, which is included in other income, net in the Condensed Consolidated Statements of Loss.
|  | Nine Months Ended September 30, 2021
(In thousands) |  | Amount Reclassified from Accumulated Other Comprehensive (Loss) Income |  |  | Affected Line Item in the Statement Where Net (Loss) Income Is Presented
Unrealized gain (loss) on available-for-sale securities: |  |  |  |  |
Net realized gain on sales of securities |  | $ | (13 | ) |  | Net investment (loss) gain
Defined benefit plan adjustments – actuarial gain |  |  | (630 | ) |  | (1)
Total reclassifications for the period, before tax |  |  | (643 | ) |  |
Tax expense |  |  | 198 |  |  |
Total reclassifications for the period, net of tax |  | $ | (445 | ) |  |
(1) A part of the computation of net periodic pension cost, which is included in other income, net in the Condensed Consolidated Statements of Loss. The following tables present the tax effects related to the change in each component of other comprehensive loss:
|  | Three Months Ended |  |  | Three Months Ended |
|  | September 30, 2022 |  |  | September 30, 2021 |
(In thousands) |  | Before-Tax Amount |  |  | Tax (Expense) Benefit |  |  | Net-of-Tax Amount |  |  | Before-Tax Amount |  |  | Tax (Expense) Benefit |  |  | Net-of-Tax Amount |
Unrealized loss on available-for-sale securities |  | $ | (334 | ) |  | $ | 80 |  |  | $ | (254 | ) |  | $ | (38 | ) |  | $ | 9 |  |  | $ | (29 | )
Reclassification adjustment for amounts related to available-for-sale investments included in net loss |  |  | (187 | ) |  |  | 45 |  |  |  | (142 | ) |  |  | (42 | ) |  |  | 10 |  |  |  | (32 | )
Reclassification adjustment for amounts related to defined benefit plan adjustments included in net (loss) gain |  |  | (171 | ) |  |  | 53 |  |  |  | (118 | ) |  |  | 180 |  |  |  | (56 | ) |  |  | 124 |
Foreign currency translation adjustments |  |  | (23,172 | ) |  |  | — |  |  |  | (23,172 | ) |  |  | (1,389 | ) |  |  | — |  |  |  | (1,389 | )
Total Other Comprehensive Loss |  | $ | (23,864 | ) |  | $ | 178 |  |  | $ | (23,686 | ) |  | $ | (1,289 | ) |  | $ | (37 | ) |  | $ | (1,326 | )
|  | Nine Months Ended |  |  | Nine Months Ended |
|  | September 30, 2022 |  |  | September 30, 2021 |
(In thousands) |  | Before-Tax Amount |  |  | Tax (Expense) Benefit |  |  | Net-of-Tax Amount |  |  | Before-Tax Amount |  |  | Tax (Expense) Benefit |  |  | Net-of-Tax Amount |
Unrealized loss on available-for-sale securities |  | $ | (2,392 | ) |  | $ | 574 |  |  | $ | (1,818 | ) |  | $ | (471 | ) |  | $ | 113 |  |  | $ | (358 | )
Reclassification adjustment for amounts related to available-for-sale investments included in net gain |  |  | 655 |  |  |  | (157 | ) |  |  | 498 |  |  |  | 13 |  |  |  | (3 | ) |  |  | 10 |
Reclassification adjustment for amounts related to defined benefit plan adjustments included in net (loss) gain |  |  | (316 | ) |  |  | 98 |  |  |  | (218 | ) |  |  | 630 |  |  |  | (195 | ) |  |  | 435 |
Foreign currency translation adjustments |  |  | (26,930 | ) |  |  | — |  |  |  | (26,930 | ) |  |  | (2,914 | ) |  |  | — |  |  |  | (2,914 | )
Total Other Comprehensive Loss |  | $ | (28,983 | ) |  | $ | 515 |  |  | $ | (28,468 | ) |  | $ | (2,742 | ) |  | $ | (85 | ) |  | $ | (2,827 | )

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