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Accumulated Other Comprehensive Income (Loss)
 12 Months Ended
Dec. 31, 2022
Equity [Abstract]  
Accumulated Other Comprehensive Income (Loss)

20. 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, 2021

 

$

1,112

 

 

$

(124,868

)

 

$

8,474

 

 

$

(115,282

)

Other comprehensive income

   (loss) before reclassifications

 

 

76,542

 

 

 

(55,348

)

 

 

6,328

 

 

 

27,522

 

Amounts reclassified from

   accumulated other

   comprehensive income

   (loss) into earnings (1)

 

 

(51,554

)

 

 

—

 

 

 

1,797

 

 

 

(49,757

)

Net current-period other

   comprehensive income (loss)

 

 

24,988

 

 

 

(55,348

)

 

 

8,125

 

 

 

(22,235

)

December 31, 2022

 

$

26,100

 

 

$

(180,216

)

 

$

16,599

 

 

$

(137,517

)

 

(1)

Includes $(51,554) and $1,797 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 $(16,400) and $671 respectively.

 

 

 

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 (2)

 

 

(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

)

 

(2)

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.