Accumulated Other Comprehensive Income (Loss) (Tables)

12 Months Ended

Dec. 31, 2021

Schedule of Accumulated Other Comprehensive Income (Loss)

AOCI was comprised of the following for the three years ended December 31:


	2021		2020		2019
Unrecognized components of employee benefit plans, net of tax:
Balance, beginning of year	$	(146,614)	$	(126,638)	$	(135,590)
Other comprehensive gain (loss) before reclassifications	63,147		(37,515)		(8,119)
Income tax on other comprehensive gain (loss)	(13,365)		8,940		2,413
Reclassifications to earnings: (a)
Pension settlement loss (gain) (b)	7,618		(2,548)		8,787
Amortization of losses	15,491		12,838		9,889
Amortization of prior service costs	550		564		693

Income tax on reclassifications	(6,649)		(2,255)		(4,711)
Plans included in sale of assets to GreenFirst	4,012		—		—
Income Tax on plans included in sale of assets to GreenFirst	(1,039)		—		—

Net comprehensive gain (loss) on employee benefit plans, net of tax	69,765		(19,976)		8,952
Balance, end of year	(76,849)		(146,614)		(126,638)

Unrealized gain on derivative instruments, net of tax:
Balance, beginning of year	1,834		1,290		(11,622)
Other comprehensive income before reclassifications	—		(8,788)		12,822
Income tax on other comprehensive income	—		2,171		(3,076)
Reclassifications to earnings: (c)
Interest rate contracts	—		2,666		(688)
Foreign exchange contracts	(3,691)		6,697		5,615
Income tax on reclassifications	1,010		(2,202)		(1,761)
Net comprehensive gain on derivative instruments, net of tax	(2,681)		544		12,912
Balance, end of year (c)	(847)		1,834		1,290

Foreign currency translation:
Balance, beginning of year	11,145		(13,879)		(8,485)
Foreign currency translation, net of tax effects of $0, $0, and $0 (d)	(17,919)		25,024		(5,394)
Balance, end of year	(6,774)		11,145		(13,879)

Accumulated other comprehensive income (loss), end of year	$	(84,470)	$	(133,635)	$	(139,227)

(a)The AOCI components for defined benefit pension and post-retirement plans are included in the computation of net periodic pension cost. See Note 17 — Employee Benefit Plans for additional information.

(b)In 2021, the Company purchased annuity contracts from a third-party insurance company who assumed responsibility for future pension benefits for certain participants in its U.S. defined benefit plan and recorded a loss of $6 million on the settlement and de-recognition of the projected benefit obligation. Additionally, the Company continued the process of winding up certain Canadian pension plans and as a result recorded a settlement loss of $2 million. During 2020, the Company finalized the wind up process of certain Canadian pension plans and as a result recorded a settlement gain of $3 million. In 2019, the Company purchased annuity contracts from a third-party insurance company who assumed responsibility for future pension benefits for certain participants in its Canadian defined benefit plans and recorded a loss of $9 million on the settlement and de-recognition of the projected benefit obligation. See Note 17 — Employee Benefit Plans.

(c)Reclassifications of interest rate contracts are recorded in interest expense. Reclassifications of foreign currency exchange contracts are recorded in cost of sales, other operating income or non-operating income as appropriate. Additional details about the reclassifications related to derivative instruments is included in Note 11 —Derivative Instruments.

(d)Foreign currency translation is net of tax effects of zero for all periods presented as the French operations are taxed on the foreign functional currency, not the translated Company’s reporting currency.