CHANGES IN ACCUMULATED OTHER COMPREHENSIVE LOSS

9 Months Ended

Sep. 30, 2022

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 nine months ended September 30, 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	13		(9)		(222)		(218)
Amounts Reclassified from Accumulated Other Comprehensive Loss (a)	2		1		—		3
Net Current-period Other Comprehensive Income (Loss)	15		(8)		(222)		(215)


Balance at September 30, 2022	$	7	$	(102)	$	(344)	$	(439)

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

The following represents reclassifications out of Accumulated Other Comprehensive Loss for the nine months ended September 30, 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	$	(11)		Cost of Sales

Interest Rate Swap Agreements	—			Interest Expense, Net
	(11)			Total before Tax
	13		(a)	Tax Expense
	$	2		Total, Net of Tax

Amortization of Defined Benefit Pension Plans:

Actuarial Losses	$	3	(b)

	(1)			Tax (Benefit)
	$	2		Total, Net of Tax

Amortization of Postretirement Benefit Plans:

Actuarial Gains	$	(1)	(b)
	$	(1)		Total, Net of Tax



Total Reclassifications for the Period	$	3

(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").