Accumulated Other Comprehensive Income (Loss) (Tables)

12 Months Ended

Dec. 31, 2021

Components of Accumulated Other Comprehensive Income (Loss)

The following tables reflect the changes in accumulated other comprehensive income (loss) by component (in thousands):

	Gains and (Losses) on			Foreign Currency			Adjustment to Early
	Hedging Derivatives			Gains (Losses)			Retiree Medical Plan			Total
December 31, 2020	$	(4,700	)	$	(120,827	)	$	6,666		$	(118,861	)
Other comprehensive income (loss) before reclassifications		15,112			(4,041	)		1,875			12,946
Amounts reclassified from accumulated other comprehensive income (loss) into earnings ⁽¹⁾		(9,300	)		—			(67	)		(9,367	)
Net current-period other comprehensive income (loss)		5,812			(4,041	)		1,808			3,579
December 31, 2021	$	1,112		$	(124,868	)	$	8,474		$	(115,282	)

(1)

Includes $(9,300) and $(67) net-of-tax impact of accumulated other comprehensive income (loss) reclassifications into cost of products sold for net gains on commodity contracts and adjustment to early retiree medical plan, respectively. The tax impacts of these reclassifications were $(3,100) and $(10) respectively.

	Gains and (Losses) on			Foreign Currency			Adjustment to Early
	Hedging Derivatives			Gains (Losses)			Retiree Medical Plan			Total
December 31, 2019	$	(14,000	)	$	(296,773	)	$	7,807		$	(302,966	)
Other comprehensive income (loss) before reclassifications		2,084			17,306			(1,213	)		18,177
Amounts reclassified from accumulated other comprehensive income (loss) into earnings ⁽²⁾		7,216			158,640			72			165,928
Net current-period other comprehensive income (loss)		9,300			175,946			(1,141	)		184,105
December 31, 2020	$	(4,700	)	$	(120,827	)	$	6,666		$	(118,861	)

(2)

Includes $7,216 and $72 net-of-tax impact of accumulated other comprehensive income (loss) reclassifications into cost of products sold for net losses on commodity contracts and adjustment to early retiree medical plan, respectively. The tax impacts of these reclassifications were $2,500 and $17, respectively. Also includes a $158.6 million reclassification of cumulative foreign currency translation losses into losses and impairments of assets, of which there was no tax impact.