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Equity
 12 Months Ended
Dec. 31, 2024
Equity [Abstract]  
Equity

Note 14 – Equity

The following table presents changes in accumulated other comprehensive income (loss), net of tax, by components of accumulated other comprehensive income (loss) for the years ended December 31, 2024, 2023 and 2022:

 

(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, 2022

 

 

(836

)

 

 

(1,016

)

 

 

27,593

 

 

 

385

 

 

 

26,126

 

Other comprehensive (loss) income before reclassifications

 

 

734

 

 

 

(1,590

)

 

 

22,757

 

 

 

—

 

 

 

21,901

 

Amounts reclassified from accumulated other comprehensive (loss) income

 

 

(280

)

 

 

100

 

 

 

—

 

 

 

—

 

 

 

(180

)

Net current period other comprehensive income (loss)

 

 

454

 

 

 

(1,490

)

 

 

22,757

 

 

 

—

 

 

 

21,721

 

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

 

 

—

 

 

 

—

 

 

 

382

 

 

 

—

 

 

 

382

 

Balance as of December 31, 2023

 

 

(382

)

 

 

(2,506

)

 

 

49,968

 

 

 

385

 

 

 

47,465

 

Other comprehensive (loss) income before reclassifications

 

 

(160

)

 

 

1,640

 

 

 

(38,047

)

 

 

—

 

 

 

(36,567

)

Amounts reclassified from accumulated other comprehensive income (loss)

 

 

160

 

 

 

(161

)

 

 

—

 

 

 

—

 

 

 

(1

)

Net current period other comprehensive income (loss)

 

 

—

 

 

 

1,479

 

 

 

(38,047

)

 

 

—

 

 

 

(36,568

)

Balance as of December 31, 2024

 

$

(382

)

 

$

(1,027

)

 

$

11,921

 

 

$

385

 

 

$

10,897

 
(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 income (loss) for the years ended December 31, 2024, 2023 and 2022:

 

(In thousands)

 

For the year ended December 31,

 

 

 

Details about Accumulated Other Comprehensive (Loss)
Income Components

 

2024

 

 

2023

 

 

2022

 

 

Affected Line Item in the
Statement Where Net Loss Is Presented

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

 

 

 

 

 

 

 

 

 

 

 

Net realized gain (loss) on sales of securities

 

$

216

 

 

$

(378

)

 

$

(328

)

 

Net investment gain

Defined benefit plan adjustments – actuarial (loss) gain

 

 

(233

)

 

 

145

 

 

 

113

 

 

(1)

Total reclassifications for the period, before tax

 

 

(17

)

 

 

(233

)

 

 

(215

)

 

 

Tax expense

 

 

16

 

 

 

53

 

 

 

50

 

 

 

Total reclassifications for the period, net of tax

 

$

(1

)

 

$

(180

)

 

$

(165

)

 

 

 

(1)
Included in the computation of net periodic pension cost. See Note 13 for additional information.

The following tables present the tax effects related to the change in each component of other comprehensive income (loss) for the years ended December 31, 2024, 2023 and 2022:

 

 

 

2024

 

(In thousands)

 

Before-Tax
Amount

 

 

Tax
(Expense)
Benefit

 

 

Net-of-Tax
Amount

 

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

 

$

(216

)

 

$

56

 

 

$

(160

)

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

 

 

216

 

 

 

(56

)

 

 

160

 

Defined benefit plan adjustments

 

 

1,640

 

 

 

—

 

 

 

1,640

 

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

 

 

(233

)

 

 

72

 

 

 

(161

)

Foreign currency translation adjustment

 

 

(38,047

)

 

 

—

 

 

 

(38,047

)

Total Other Comprehensive Loss

 

$

(36,640

)

 

$

72

 

 

$

(36,568

)

 

 

 

2023

 

(In thousands)

 

Before-Tax
Amount

 

 

Tax
(Expense)
Benefit

 

 

Net-of-Tax
Amount

 

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

 

$

992

 

 

$

(258

)

 

$

734

 

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

 

 

(378

)

 

 

98

 

 

 

(280

)

Defined benefit plan adjustments

 

 

(2,304

)

 

 

714

 

 

 

(1,590

)

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

 

 

145

 

 

 

(45

)

 

 

100

 

Foreign currency translation adjustment

 

 

22,757

 

 

 

—

 

 

 

22,757

 

Total Other Comprehensive Income

 

$

21,212

 

 

$

509

 

 

$

21,721

 

 

 

 

2022

 

(In thousands)

 

Before-Tax
Amount

 

 

Tax
(Expense)
Benefit

 

 

Net-of-Tax
Amount

 

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

 

$

(55

)

 

$

14

 

 

$

(41

)

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

 

 

(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 Income (Loss)

 

$

59,675

 

 

$

(1,966

)

 

$

57,709