XML 29 R24.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Equity
 6 Months Ended
Jun. 30, 2024
Equity [Abstract]  
Equity

13. EQUITY

Accumulated Other Comprehensive Income

The following tables present the changes in accumulated other comprehensive income, net of tax, by component:

 

 

Three Months Ended June 30, 2024

 

(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 March 31, 2024

 

$

(382

)

 

$

(2,566

)

 

$

32,219

 

 

$

385

 

 

$

29,656

 

Other comprehensive loss before
   reclassifications

 

 

(5

)

 

 

—

 

 

 

(1,375

)

 

 

—

 

 

 

(1,380

)

Amounts reclassified from accumulated other
   comprehensive income (loss)

 

 

5

 

 

 

(7

)

 

 

—

 

 

 

—

 

 

 

(2

)

Net current period other comprehensive loss

 

 

—

 

 

 

(7

)

 

 

(1,375

)

 

 

—

 

 

 

(1,382

)

Balance as of June 30, 2024

 

$

(382

)

 

$

(2,573

)

 

$

30,844

 

 

$

385

 

 

$

28,274

 

 

 

 

Three Months Ended June 30, 2023

 

(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 March 31, 2023

 

$

(767

)

 

$

(981

)

 

$

35,889

 

 

$

385

 

 

$

34,526

 

Other comprehensive income before
   reclassifications

 

 

15

 

 

 

—

 

 

 

6,940

 

 

 

—

 

 

 

6,955

 

Amounts reclassified from accumulated other
   comprehensive (loss) income

 

 

(21

)

 

 

23

 

 

 

—

 

 

 

—

 

 

 

2

 

Net current period other comprehensive income

 

 

(6

)

 

 

23

 

 

 

6,940

 

 

 

—

 

 

 

6,957

 

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

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Balance as of June 30, 2023

 

$

(773

)

 

$

(958

)

 

$

42,829

 

 

$

385

 

 

$

41,483

 

 

 

 

Six Months Ended June 30, 2024

 

(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 December 31, 2023

 

$

(382

)

 

$

(2,506

)

 

$

49,964

 

 

$

385

 

 

$

47,461

 

Other comprehensive loss before
   reclassifications

 

 

(124

)

 

 

—

 

 

 

(19,120

)

 

 

—

 

 

 

(19,244

)

Amounts reclassified from accumulated other
   comprehensive income (loss)

 

 

124

 

 

 

(67

)

 

 

—

 

 

 

—

 

 

 

57

 

Net current period other comprehensive loss

 

 

—

 

 

 

(67

)

 

 

(19,120

)

 

 

—

 

 

 

(19,187

)

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

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Balance as of June 30, 2024

 

$

(382

)

 

$

(2,573

)

 

$

30,844

 

 

$

385

 

 

$

28,274

 

 

 

 

 

Six Months Ended June 30, 2023

 

(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 December 31, 2022

 

$

(836

)

 

$

(1,016

)

 

$

27,593

 

 

$

385

 

 

$

26,126

 

Other comprehensive loss before
   reclassifications

 

 

98

 

 

 

—

 

 

 

15,618

 

 

 

—

 

 

 

15,716

 

Amounts reclassified from accumulated other
   comprehensive income

 

 

(35

)

 

 

58

 

 

 

—

 

 

 

—

 

 

 

23

 

Net current period other comprehensive (loss) income

 

 

63

 

 

 

58

 

 

 

15,618

 

 

 

—

 

 

 

15,739

 

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

 

 

—

 

 

 

—

 

 

 

382

 

 

 

—

 

 

 

382

 

Balance as of June 30, 2023

 

$

(773

)

 

$

(958

)

 

$

42,829

 

 

$

385

 

 

$

41,483

 

The following tables present the details of reclassifications out of accumulated other comprehensive income:

 

 

 

Three Months Ended June 30, 2024

(In thousands)

 

Amount
Reclassified
from
Accumulated
Other
Comprehensive
Income

 

 

Affected Line Item in the
Statement Where Net
Loss Is Presented

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

 

 

 

 

 

Net realized loss on sales of securities

 

$

(7

)

 

Net investment gain

Defined benefit plan adjustments – actuarial gain

 

 

10

 

 

(1)

Total reclassifications for the period, before tax

 

 

3

 

 

 

Tax expense

 

 

(1

)

 

 

Total reclassifications for the period, net of tax

 

$

2

 

 

 
(1)
A part of the computation of net periodic pension cost, which is included in other (expense) income, net in the Condensed Consolidated Statements of Loss.

 

 

Three Months Ended June 30, 2023

(In thousands)

 

Amount
Reclassified
from
Accumulated
Other
Comprehensive
Income

 

 

Affected Line Item in the
Statement Where Net
Loss Is Presented

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

 

 

 

 

 

Net realized gain on sales of securities

 

$

28

 

 

Net investment gain

Defined benefit plan adjustments – actuarial loss

 

 

(33

)

 

(1)

Total reclassifications for the period, before tax

 

 

(5

)

 

 

Tax benefit

 

 

3

 

 

 

Total reclassifications for the period, net of tax

 

$

(2

)

 

 
(1)
A part of the computation of net periodic pension cost, which is included in other (expense) income, net in the Condensed Consolidated Statements of Loss.

 

 

 

 

Six Months Ended June 30, 2024

(In thousands)

 

Amount
Reclassified
from
Accumulated
Other
Comprehensive
Loss

 

 

Affected Line Item in the
Statement Where Net Loss
Is Presented

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

 

 

 

 

 

Net realized loss on sales of securities

 

$

(168

)

 

Net investment gain

Defined benefit plan adjustments – actuarial gain

 

 

97

 

 

(1)

Total reclassifications for the period, before tax

 

 

(71

)

 

 

Tax benefit

 

 

14

 

 

 

Total reclassifications for the period, net of tax

 

$

(57

)

 

 
(1)
A part of the computation of net periodic pension cost, which is included in other (expense) income, net in the Condensed Consolidated Statements of Loss.

 

 

 

Six Months Ended June 30, 2023

(In thousands)

 

Amount
Reclassified
from
Accumulated
Other
Comprehensive
Income

 

 

Affected Line Item in the
Statement Where Net Loss
Is Presented

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

 

 

 

 

 

Net realized gain on sales of securities

 

$

46

 

 

Net investment gain

Defined benefit plan adjustments – actuarial loss

 

 

(84

)

 

(1)

Total reclassifications for the period, before tax

 

 

(38

)

 

 

Tax benefit

 

 

15

 

 

 

Total reclassifications for the period, net of tax

 

$

(23

)

 

 
(1)
A part of the computation of net periodic pension cost, which is included in other (expense) income, net in the Condensed Consolidated Statements of Loss.

The following table presents the tax effects related to the change in each component of other comprehensive (loss) income:

 

 

Three Months Ended

 

 

Three Months Ended

 

 

 

June 30, 2024

 

 

June 30, 2023

 

(In thousands)

 

Before-Tax
Amount

 

 

Tax
(Expense)
Benefit

 

 

Net-of-Tax
Amount

 

 

Before-Tax
Amount

 

 

Tax
(Expense)
Benefit

 

 

Net-of-Tax
Amount

 

Unrealized (loss) gain on available-for-sale
   securities

 

$

(7

)

 

$

2

 

 

$

(5

)

 

$

20

 

 

$

(5

)

 

$

15

 

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

 

 

7

 

 

 

(2

)

 

 

5

 

 

 

(28

)

 

 

7

 

 

 

(21

)

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

 

 

(10

)

 

 

3

 

 

 

(7

)

 

 

33

 

 

 

(10

)

 

 

23

 

Foreign currency translation adjustments

 

 

(1,375

)

 

 

—

 

 

 

(1,375

)

 

 

6,940

 

 

 

—

 

 

 

6,940

 

Total Other Comprehensive (Loss) Income

 

$

(1,385

)

 

$

3

 

 

$

(1,382

)

 

$

6,965

 

 

$

(8

)

 

$

6,957

 

 

 

 

Six Months Ended

 

 

Six Months Ended

 

 

 

June 30, 2024

 

 

June 30, 2023

 

(In thousands)

 

Before-Tax
Amount

 

 

Tax
(Expense)
Benefit

 

 

Net-of-Tax
Amount

 

 

Before-Tax
Amount

 

 

Tax
(Expense)
Benefit

 

 

Net-of-Tax
Amount

 

Unrealized (loss) gain on available-for-sale
   securities

 

$

(168

)

 

$

44

 

 

$

(124

)

 

$

129

 

 

$

(31

)

 

$

98

 

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

 

 

168

 

 

 

(44

)

 

 

124

 

 

 

(46

)

 

 

12

 

 

 

(34

)

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

 

 

(97

)

 

 

30

 

 

 

(67

)

 

 

84

 

 

 

(27

)

 

 

57

 

Foreign currency translation adjustments

 

 

(19,120

)

 

 

—

 

 

 

(19,120

)

 

 

15,618

 

 

 

—

 

 

 

15,618

 

Total Other Comprehensive (Loss) Income

 

$

(19,217

)

 

$

30

 

 

$

(19,187

)

 

$

15,785

 

 

$

(46

)

 

$

15,739