Changes in Accumulated Other Comprehensive Loss

3 Months Ended

Mar. 31, 2022

Equity [Abstract]

Changes in Accumulated Other Comprehensive Loss

CHANGES IN ACCUMULATED OTHER COMPREHENSIVE LOSS

The following represents changes in Accumulated Other Comprehensive Loss attributable to Graphic Packaging Holding Company by component for the three months ended March 31, 2022:

In millions, net of tax	Derivatives Instruments		Pension and Postretirement Benefit Plans		Currency Translation Adjustments		Total
Balance at December 31, 2021	$	(8)	$	(94)	$	(122)	$	(224)
Other Comprehensive Income (Loss) before Reclassifications	5		(10)		(22)		(27)
Amounts Reclassified from Accumulated Other Comprehensive Income (a)	8		1		—		9
Net Current-period Other Comprehensive Income (Loss)	13		(9)		(22)		(18)
Balance at March 31, 2022	$	5	$	(103)	$	(144)	$	(242)

(a) See following table for details about these reclassifications.

The following represents reclassifications out of Accumulated Other Comprehensive Loss for the three months ended March 31, 2022:

In millions
Details about Accumulated Other Comprehensive Loss Components	Amount Reclassified from Accumulated Other Comprehensive Loss			Affected Line Item in the Statement Where Net Income is Presented
Derivatives Instruments:
Commodity Contracts	$	(3)		Cost of Sales
Interest Rate Swap Agreements	—			Interest Expense, Net
	(3)			Total before Tax
	11		(a)	Tax Expense
	$	8		Total, Net of Tax
Amortization of Defined Benefit Pension Plans:
Actuarial Losses	1		(b)
	$	1		Total, Net of Tax
Total Reclassifications for the Period	$	9

(a) Includes tax expense of $10 million to release the lingering tax effect after settling the interest rate swaps (see "Note 7 - Financial Instruments and Fair Value Measurement" and "Note 8 - Income Taxes").

(b) These accumulated other comprehensive loss components are included in the computation of net periodic pension cost (see “Note 6 - Pensions and Other Postretirement Benefits").