| Pre-tax and After-tax Components of Other Comprehensive Income |
The following tables present the tax effects of each component of other comprehensive income for the three months ended March 31, 2026 and 2025, respectively:
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Three months ended March 31, |
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2026 |
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2025 |
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Pre-tax
amount |
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Tax benefit/
(expense) |
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After-tax amount |
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Pre-tax
amount |
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Tax benefit/
(expense) |
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After-tax amount |
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| Net loss from defined benefit and postretirement plans |
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$ |
(138) |
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$ |
34 |
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$ |
(104) |
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$ |
(1) |
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$ |
— |
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$ |
(1) |
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| Net gain (loss) from hedging activities |
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1,357 |
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(339) |
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1,018 |
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(5,738) |
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1,434 |
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(4,304) |
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| Foreign currency translation |
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— |
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— |
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— |
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4,531 |
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— |
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4,531 |
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| Other comprehensive income |
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$ |
1,219 |
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$ |
(305) |
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$ |
914 |
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$ |
(1,208) |
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$ |
1,434 |
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$ |
226 |
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The following tables present the changes in accumulated other comprehensive income (loss) (“AOCI”), net of tax, by component for the three months ended March 31, 2026 and 2025, respectively:
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Defined benefit
and other
postretirement
plans |
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Net gain (loss) from hedging activities |
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Foreign
currency
translation |
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Total |
| December 31, 2025 |
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$ |
2,450 |
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$ |
821 |
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$ |
— |
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$ |
3,271 |
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| Other comprehensive (loss) income before reclassifications |
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(89) |
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1,298 |
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— |
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1,209 |
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Amounts reclassified from AOCI(1)
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(15) |
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(280) |
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— |
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(295) |
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| Net current period other comprehensive (loss) income |
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(104) |
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1,018 |
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— |
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914 |
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| March 31, 2026 |
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$ |
2,346 |
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$ |
1,839 |
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$ |
— |
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$ |
4,185 |
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| December 31, 2024 |
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$ |
1,467 |
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$ |
9,902 |
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$ |
(18,776) |
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$ |
(7,407) |
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| Other comprehensive (loss) income before reclassifications |
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— |
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(2,699) |
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4,531 |
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1,832 |
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Amounts reclassified from AOCI(1)
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(1) |
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(1,605) |
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— |
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(1,606) |
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| Net current period other comprehensive (loss) income |
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(1) |
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(4,304) |
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4,531 |
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226 |
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| March 31, 2025 |
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$ |
1,466 |
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$ |
5,598 |
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$ |
(14,245) |
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$ |
(7,181) |
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(1)See the following table for details about these reclassifications. Amounts in parentheses indicate debits.
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| Reclassifications out of Accumulated Other Comprehensive Income |
The following table presents the reclassifications out of AOCI for the three months ended March 31, 2026 and 2025, respectively:
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| Details about AOCI Components |
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Amounts reclassified from AOCI(1)
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Affected line item where
income is presented |
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Three months ended
March 31, |
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2026 |
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2025 |
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| Amortization of defined benefit and other postretirement items: |
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| Net loss |
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$ |
20 |
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$ |
1 |
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Other expense, net(2)
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| Tax benefit |
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(5) |
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— |
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Provision (benefit) for income taxes |
| Net of tax |
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$ |
15 |
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$ |
1 |
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| Gains and losses on cash flow hedges: |
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| Interest rate caps |
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$ |
373 |
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$ |
2,140 |
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Interest expense |
| Tax benefit |
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(93) |
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(535) |
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Provision (benefit) for income taxes |
| Net of tax |
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$ |
280 |
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$ |
1,605 |
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| Total reclassifications for the period, net of tax |
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$ |
295 |
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$ |
1,606 |
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(1)Amounts in parentheses indicate debits to profit/loss.
(2)These AOCI components are components of net periodic pension and other postretirement cost (see Note 14 to these condensed consolidated financial statements for additional details).
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