Comprehensive Income and Equity

3 Months Ended

Mar. 31, 2023

Equity [Abstract]

Comprehensive Income and Equity

. Comprehensive Income and Equity

Total comprehensive income for the three months ended March 31, 2023 and 2022 is summarized in the table below:

	Three Months Ended March 31,
	2023		2022
(Dollars in millions)
Net income	$	26.2	$	18.8
Changes in other comprehensive income:
Currency translation adjustment		2.7		5.8
Unrealized gain (loss) on cash flow hedges, net of tax   (expense) benefit of $(1.9) and $2.1		4.7		(4.3	)
Unrecognized pension net loss, net of tax expense of $(0.1) and $(0.1)		0.3		0.2
Comprehensive income		33.9		20.5
Comprehensive income attributable to noncontrolling interests		0.7		0.0
Comprehensive income attributable to Koppers	$	33.2	$	20.5

Amounts reclassified from accumulated other comprehensive loss to net income consist of amounts shown for changes in or amortization of unrecognized pension net loss. This component of accumulated other comprehensive loss is included in the computation of net periodic pension cost as disclosed in Note 11 – “Pensions and Post-Retirement Benefit Plans.” Other amounts reclassified from accumulated other comprehensive loss related to derivative financial instruments of $1.7 million for the three months ended March 31, 2023, and $10.1 million for the three months ended March 31, 2022. The amounts in the preceding sentence are net of tax.

The following tables present the change in equity for the three months ended March 31, 2023 and 2022, respectively:

(Dollars in millions)	Common Stock		Additional   Paid-In Capital		Retained Earnings			Accumulated Other Comprehensive Loss			Treasury Stock			Noncontrolling Interests		Total Equity
Balance at December 31,   2022	$	0.2	$	263.9	$	360.2		$	(97.3	)	$	(127.6	)	$	3.6	$	403.0
Net income		0.0		0.0		25.5			0.0			0.0			0.7		26.2
Dividends		0.0		0.0		(1.5	)		0.0			0.0			0.0		(1.5	)
Issuance of common stock		0.0		1.3		0.0			0.0			0.0			0.0		1.3
Repurchases of common   stock		0.0		0.0		0.0			0.0			(5.8	)		0.0		(5.8	)
Employee stock plans		0.0		4.0		0.0			0.0			0.0			0.0		4.0
Other comprehensive   income
Currency translation   adjustment		0.0		0.0		0.0			2.7			0.0			0.0		2.7
Unrealized gain on   cash flow hedges		0.0		0.0		0.0			4.7			0.0			0.0		4.7
Unrecognized pension   net loss		0.0		0.0		0.0			0.3			0.0			0.0		0.3
Balance at March 31,   2023	$	0.2	$	269.2	$	384.2		$	(89.6	)	$	(133.4	)	$	4.3	$	434.9

(Dollars in millions)	Common Stock		Additional   Paid-In Capital		Retained Earnings			Accumulated Other Comprehensive Loss			Treasury Stock			Noncontrolling Interests			Total Equity
Balance at December 31,   2021	$	0.2	$	249.5	$	300.9		$	(40.0	)	$	(104.0	)	$	4.2		$	410.8
Net income		0.0		0.0		18.8			0.0			0.0			0.0			18.8
Dividends		0.0		0.0		(1.0	)		0.0			0.0			0.0			(1.0	)
Issuance of common stock		0.0		0.3		0.0			0.0			0.0			0.0			0.3
Repurchases of common   stock		0.0		0.0		0.0			0.0			(11.1	)		0.0			(11.1	)
Employee stock plans		0.0		3.6		0.0			0.0			0.0			0.0			3.6
Other comprehensive   (loss) income
Currency translation       adjustment		0.0		0.0		0.0			5.9			0.0			(0.1	)		5.8
Unrealized loss on       cash flow hedges		0.0		0.0		0.0			(4.3	)		0.0			0.0			(4.3	)
Unrecognized pension       net loss		0.0		0.0		0.0			0.2			0.0			0.0			0.2
Balance at March 31,   2022	$	0.2	$	253.4	$	318.7		$	(38.3	)	$	(115.1	)	$	4.1		$	423.0

On May 4, 2023, we declared a quarterly dividend of $0.06 per common share, payable on June 12, 2023 to shareholders of record as of May 26, 2023.