| Reclassification Out of Accumulated Other Comprehensive Loss |
Changes in accumulated other comprehensive loss were as follows: | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | (In thousands) | 2024 | | 2023 | | 2024 | | 2023 | Pension and other post-retirement benefits (a) | | | | | | | | | Balance at beginning of period | $ | (42,278) | | | $ | (49,896) | | | $ | (42,652) | | | $ | (50,335) | | | Amounts reclassified from accumulated other comprehensive loss into net income (loss): | | | | | | | | | Amortization of prior service credit (Note 14) | (9) | | | (24) | | | (18) | | | (48) | | | Recognized net actuarial losses (Note 14) | 2,271 | | | 185 | | | 2,668 | | | 370 | | | Tax (benefit) expense | (240) | | | (46) | | | (254) | | | 232 | | | Total amount reclassified from accumulated other comprehensive loss, net of tax, into net income (loss) | 2,022 | | | 115 | | | 2,396 | | | 554 | | | | | | | | | | | Balance at end of period | $ | (40,256) | | | $ | (49,781) | | | $ | (40,256) | | | $ | (49,781) | | | Available-for-sale securities | | | | | | | | | Balance at beginning of period | $ | — | | | $ | — | | | $ | — | | | $ | (2) | | | Unrealized net gains on available-for-sale securities (Note 16) | — | | | — | | | — | | | 2 | | | Balance at end of period | $ | — | | | $ | — | | | $ | — | | | $ | — | | | Foreign currency translation | | | | | | | | | Balance at beginning of period | $ | (97,270) | | | $ | (97,186) | | | $ | (86,597) | | | $ | (108,380) | | Reclassification from accumulated other comprehensive loss into net income (loss)(b) | (1,200) | | | — | | | (1,200) | | | — | | | Foreign currency translation adjustments | (8,822) | | | 5,039 | | | (19,495) | | | 16,233 | | | Balance at end of period | $ | (107,292) | | | $ | (92,147) | | | $ | (107,292) | | | $ | (92,147) | | (a) Amounts reclassified from accumulated other comprehensive loss into net income (loss) are included in the computation of net periodic pension and other post-retirement benefit costs (refer to Note 14—Pensions and Other Post-retirement Benefits). (b) Reclassification from accumulated other comprehensive loss into net income (loss) relates primarily to the recognition of non-cash net cumulative translation gains associated with certain foreign subsidiaries. The reclassifications are included in Currency exchange (gains) losses, net, within the unaudited Condensed Consolidated Statements of Income. |
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