| Deferred Components of AOCL in Equity, Net of Related Taxes, and Changes in AOCL |
The following table presents deferred components of AOCL in equity, net of related taxes:
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| (In thousands) |
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September 2022 |
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December 2021 |
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September 2021 |
| Foreign currency translation |
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$ |
(121,582) |
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$ |
(93,125) |
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$ |
(89,764) |
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| Defined benefit pension plans |
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(2,160) |
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(2,177) |
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(1,822) |
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| Derivative financial instruments |
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31,459 |
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2,546 |
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(2,549) |
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| Accumulated other comprehensive loss |
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$ |
(92,283) |
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$ |
(92,756) |
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$ |
(94,135) |
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The following tables present changes in AOCL, net of related tax impact:
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Three Months Ended September 2022 |
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| (In thousands) |
Foreign Currency Translation |
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Defined Benefit Pension Plans |
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Derivative Financial Instruments |
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Total |
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| Balance, June 2022 |
$ |
(110,014) |
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$ |
(2,166) |
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$ |
20,223
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$ |
(91,957) |
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| Other comprehensive income (loss) due to gains (losses) arising before reclassifications |
(11,568) |
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— |
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15,078 |
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3,510 |
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| Reclassifications to net income of previously deferred (gains) losses |
— |
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6 |
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(3,842) |
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(3,836) |
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| Net other comprehensive income (loss) |
(11,568) |
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6 |
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11,236 |
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(326) |
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| Balance, September 2022 |
$ |
(121,582) |
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$ |
(2,160) |
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$ |
31,459
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$ |
(92,283) |
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Three Months Ended September 2021 |
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| (In thousands) |
Foreign Currency Translation |
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Defined Benefit Pension Plans |
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Derivative Financial Instruments |
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Total |
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| Balance, June 2021 |
$ |
(83,192) |
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$ |
(1,826) |
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$ |
(3,951) |
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$ |
(88,969) |
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| Other comprehensive income (loss) due to gains (losses) arising before reclassifications |
(6,572) |
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— |
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434 |
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(6,138) |
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| Reclassifications to net income of previously deferred (gains) losses |
— |
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4 |
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968 |
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972 |
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| Net other comprehensive income (loss) |
(6,572) |
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4 |
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1,402 |
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(5,166) |
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| Balance, September 2021 |
$ |
(89,764) |
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$ |
(1,822) |
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$ |
(2,549) |
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$ |
(94,135) |
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Nine Months Ended September 2022 |
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| (In thousands) |
Foreign Currency Translation |
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Defined Benefit Pension Plans |
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Derivative Financial Instruments |
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Total |
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| Balance, December 2021 |
$ |
(93,125) |
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$ |
(2,177) |
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$ |
2,546
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$ |
(92,756) |
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| Other comprehensive income (loss) due to gains (losses) arising before reclassifications |
(28,457) |
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— |
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35,444 |
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6,987 |
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| Reclassifications to net income of previously deferred (gains) losses |
— |
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17 |
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(6,531) |
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(6,514) |
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| Net other comprehensive income (loss) |
(28,457) |
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17 |
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28,913 |
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473 |
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| Balance, September 2022 |
$ |
(121,582) |
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$ |
(2,160) |
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$ |
31,459
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$ |
(92,283) |
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Nine Months Ended September 2021 |
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| (In thousands) |
Foreign Currency Translation |
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Defined Benefit Pension Plans |
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Derivative Financial Instruments |
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Total |
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| Balance, December 2020 |
$ |
(80,178) |
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$ |
(1,889) |
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$ |
(12,740) |
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$ |
(94,807) |
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| Other comprehensive income (loss) due to gains (losses) arising before reclassifications |
(9,586) |
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— |
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4,631 |
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(4,955) |
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| Reclassifications to net income of previously deferred (gains) losses |
— |
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67 |
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5,560 |
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5,627 |
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| Net other comprehensive income (loss) |
(9,586) |
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67 |
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10,191 |
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|
672 |
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| Balance, September 2021 |
$ |
(89,764) |
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$ |
(1,822) |
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$ |
(2,549) |
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$ |
(94,135) |
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| Reclassification Out of AOCL |
The following table presents reclassifications out of AOCL:
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| (In thousands) |
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Three Months Ended September |
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Nine Months Ended September |
| Details About Accumulated Other Comprehensive Loss Reclassifications |
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Affected Line Item in the Financial Statements |
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2022 |
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2021 |
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2022 |
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2021 |
| Defined benefit pension plans: |
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| Net change in deferred losses during the period |
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Selling, general and administrative expenses |
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$ |
(8) |
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$ |
(4) |
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$ |
(23) |
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$ |
(89) |
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| Total before tax |
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(8) |
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(4) |
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(23) |
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(89) |
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| Income taxes |
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Income taxes |
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2 |
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— |
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6 |
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22 |
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| Net of tax |
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(6) |
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(4) |
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(17) |
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(67) |
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| Gains (losses) on derivative financial instruments: |
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| Foreign currency exchange contracts |
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Net revenues |
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$ |
(401) |
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$ |
47 |
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$ |
(794) |
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$ |
247 |
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| Foreign currency exchange contracts |
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Cost of goods sold |
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4,228 |
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58 |
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8,954 |
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(2,775) |
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| Foreign currency exchange contracts |
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Other expense, net |
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168 |
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(170) |
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67 |
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(597) |
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| Interest rate swap agreements |
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Interest expense |
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346 |
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(1,507) |
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(1,665) |
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(4,515) |
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| Total before tax |
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4,341 |
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(1,572) |
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6,562 |
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(7,640) |
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| Income taxes |
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Income taxes |
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(499) |
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604 |
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(31) |
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2,080 |
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| Net of tax |
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3,842 |
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(968) |
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6,531 |
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(5,560) |
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| Total reclassifications for the period, net of tax |
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$ |
3,836
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$ |
(972) |
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$ |
6,514
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$ |
(5,627) |
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