Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity (Tables)

v3.22.2
Stockholders' Equity (Tables)
6 Months Ended
Jun. 30, 2022
Equity [Abstract]  
Schedule of Accumulated Other Comprehensive Income (Loss)
The following tables present the tax effects of each component of other comprehensive income (loss) for the three and six months ended June 30, 2022 and 2021:
Three months ended June 30,
2022 2021
Pre-tax
amount
Tax benefit/
(expense)
After-tax amount Pre-tax
amount
Tax benefit/
(expense)
After-tax amount
Defined benefit and other postretirement plans:
Amortization of net gains $ —  $ —  $ —  $ $ (1) $
Amortization of prior service cost (52) 13  (39) (58) 15  (43)
Benefit plans, net (52) 13  (39) (56) 14  (42)
Net gain from hedging activities 6,343  (1,586) 4,757  551  (138) 413 
Foreign currency translation(1)
(7,994) —  (7,994) 12,163  —  12,163 
Other comprehensive income $ (1,703) $ (1,573) $ (3,276) $ 12,658  $ (124) $ 12,534 
Six months ended June 30,
2022 2021
Pre-tax
amount
Tax benefit/
(expense)
After-tax amount Pre-tax
amount
Tax benefit/
(expense)
After-tax amount
Defined benefit and other postretirement plans:
Amortization of net gains $ $ —  $ $ $ (1) $
Amortization of prior service cost (105) 26  (79) (116) 29  (87)
Benefit plans, net (104) 26  (78) (113) 28  (85)
Net gain from hedging activities 24,639  (6,160) 18,479  1,571  (393) 1,178 
Foreign currency translation(1)
(10,299) —  (10,299) 5,855  2,447  8,302 
Other comprehensive income (loss) $ 14,236  $ (6,134) $ 8,102  $ 7,313  $ 2,082  $ 9,395 
(1)The income tax benefit or expense included in other comprehensive income is attributed to the portion of foreign currency translation associated with the Company’s cross-currency interest rate swaps for the six months ended June 30, 2021, for which the tax effect is based on the applicable U.S. deferred income tax rate. See Note 14 to these condensed consolidated financial statements for information regarding the Company’s cross-currency interest rate swaps, which were settled in March 2021.
The following table presents the changes in accumulated other comprehensive income (loss), net of tax, by component for the six months ended June 30, 2022 and 2021:
Defined benefit
and other
postretirement
plans 
Net gain (loss)
from hedging
activities
Foreign
currency
translation 
Total 
December 31, 2021 $ 11,072  $ 2,254  $ (19,118) $ (5,792)
Other comprehensive income (loss) before reclassifications (155) 18,029  (10,299) 7,575 
Amounts reclassified from accumulated other comprehensive income(1)
77  450  —  527 
June 30, 2022 $ 10,994  $ 20,733  $ (29,417) $ 2,310 
December 31, 2020 $ 5,278  $ (660) $ (19,883) $ (15,265)
Other comprehensive income (loss) before reclassifications (170) 1,043  8,243  9,116 
Amounts reclassified from accumulated other comprehensive income(1)
85  135  —  220 
June 30, 2021 $ 5,193  $ 518  $ (11,640) $ (5,929)
(1)See the following table for details about these reclassifications. Amounts in parentheses indicate debits.
Reclassification out of Accumulated Other Comprehensive Income
The following table presents the reclassifications out of accumulated other comprehensive income for the three and six months ended June 30, 2022 and 2021:
Details about Accumulated Other Comprehensive
Income Components
Amounts Reclassified from Accumulated Other
Comprehensive Income(1)
Affected Line Item where
Income is Presented
Three months ended
June 30,
Six months ended
June 30,
2022 2021 2022 2021
Amortization of defined benefit and other postretirement items:
Prior service (cost) credit $ (53) $ (58) $ (105) $ (116)
Other income (expense)(2)
Actuarial gains (losses)
Other income (expense)(2)
(52) (56) (103) (113) Total before tax
13  15  26  28  Tax benefit (expense)
$ (39) $ (41) $ (77) $ (85) Net of tax
Gains and losses on cash flow hedges:
Interest rate caps $ (359) $ (70) $ (598) $ (179) Interest expense
88  17  148  44  Tax benefit
$ (271) $ (53) $ (450) $ (135) Net of tax
Total reclassifications for the period $ (310) $ (94) $ (527) $ (220) Net of tax
(1)Amounts in parentheses indicate debits to profit/loss.
(2)These accumulated other comprehensive income (loss) components are components of net periodic pension and other postretirement cost (see Note 16 to these condensed consolidated financial statements for additional details).