XML 30 R20.htm IDEA: XBRL DOCUMENT v3.22.2.2
Reclassifications Out of Accumulated Other Comprehensive Loss
9 Months Ended
Sep. 30, 2022
Equity [Abstract]  
Reclassifications Out of Accumulated Other Comprehensive Loss

Note 13 – Reclassifications Out of Accumulated Other Comprehensive Loss

Reclassification adjustments and other activities impacting Accumulated other comprehensive loss during the three and nine months ended September 30, 2022 and 2021 were as follows:

 

 

Defined
Benefit
Pension
Plans

 

 

Foreign
Currency
Translation
Adjustments

 

 

Foreign
Currency
Hedge
Derivatives

 

 

Commodity Hedge
Derivatives

 

 

Total

 

Balance at June 30, 2022

 

$

(2,837

)

 

$

(66,182

)

 

$

371

 

 

$

 

 

$

(68,648

)

Other comprehensive (loss) income before reclassifications

 

 

 

 

 

(28,411

)

 

 

1,948

 

 

 

 

 

 

(26,463

)

Income tax effect of other comprehensive (loss) income before reclassifications

 

 

 

 

 

(271

)

 

 

(423

)

 

 

 

 

 

(694

)

Amounts reclassified from accumulated other comprehensive loss into net income

 

 

6

 

 

 

 

 

 

(321

)

 a

 

 

 a

 

(315

)

Income taxes reclassified into net income

 

 

 

 

 

 

 

 

69

 

 

 

 

 

 

69

 

Net current period other comprehensive income (loss)

 

 

6

 

 

 

(28,682

)

 

 

1,273

 

 

 

 

 

 

(27,403

)

Balance at September 30, 2022

 

$

(2,831

)

 

$

(94,864

)

 

$

1,644

 

 

$

 

 

$

(96,051

)

(a)
The amounts reclassified from accumulated other comprehensive loss were included in cost of sales.

 

 

Defined
Benefit
Pension
Plans

 

 

Foreign
Currency
Translation
Adjustments

 

 

Foreign
Currency
Hedge
Derivatives

 

 

Commodity Hedge
Derivatives

 

 

Total

 

Balance at June 30, 2021

 

$

(3,451

)

 

$

(21,261

)

 

$

536

 

 

$

 

 

$

(24,176

)

Other comprehensive loss before reclassifications

 

 

 

 

 

(7,267

)

 

 

(158

)

 

 

(42

)

 

 

(7,467

)

Income tax effect of other comprehensive loss before reclassifications

 

 

 

 

 

(165

)

 

 

35

 

 

 

9

 

 

 

(121

)

Amounts reclassified from accumulated other comprehensive loss into net income

 

 

 

 

 

 

 

 

(448

)

 a

 

(2

)

 a

 

(450

)

Income taxes reclassified into net income

 

 

 

 

 

 

 

 

97

 

 

 

 

 

 

97

 

Net current period other comprehensive loss

 

 

 

 

 

(7,432

)

 

 

(474

)

 

 

(35

)

 

 

(7,941

)

Balance at September 30, 2021

 

$

(3,451

)

 

$

(28,693

)

 

$

62

 

 

$

(35

)

 

$

(32,117

)

(a)
The amounts reclassified from accumulated other comprehensive loss were included in cost of sales.

 

 

Defined
Benefit
Pension
Plans

 

 

Foreign
Currency
Translation
Adjustments

 

 

Foreign
Currency
Hedge
Derivatives

 

 

Commodity Hedge
Derivatives

 

 

Total

 

Balance at December 31, 2021

 

$

(2,893

)

 

$

(34,188

)

 

$

154

 

 

$

5

 

 

$

(36,922

)

Other comprehensive (loss) income before reclassifications

 

 

 

 

 

(60,023

)

 

 

2,728

 

 

 

13

 

 

 

(57,282

)

Income tax effect of other comprehensive (loss) income before reclassifications

 

 

 

 

 

(653

)

 

 

(606

)

 

 

(3

)

 

 

(1,262

)

Amounts reclassified from accumulated other comprehensive loss into net income

 

 

76

 

 

 

 

 

 

(807

)

 a

 

(19

)

 a

 

(750

)

Income taxes reclassified into net income

 

 

(14

)

 

 

 

 

 

175

 

 

 

4

 

 

 

165

 

Net current period other comprehensive income (loss)

 

 

62

 

 

 

(60,676

)

 

 

1,490

 

 

 

(5

)

 

 

(59,129

)

Balance at September 30, 2022

 

$

(2,831

)

 

$

(94,864

)

 

$

1,644

 

 

$

 

 

$

(96,051

)

(a)
The amounts reclassified from accumulated other comprehensive loss were included in cost of sales.

 

 

Defined
Benefit
Pension
Plans

 

 

Foreign
Currency
Translation
Adjustments

 

 

Foreign
Currency
Hedge
Derivatives

 

 

Commodity Hedge
Derivatives

 

 

Total

 

Balance at December 31, 2020

 

$

(3,451

)

 

$

(12,637

)

 

$

1,106

 

 

$

 

 

$

(14,982

)

Other comprehensive (loss) income before reclassifications

 

 

 

 

 

(15,608

)

 

 

120

 

 

 

(42

)

 

 

(15,530

)

Income tax effect of other comprehensive (loss) income before reclassifications

 

 

 

 

 

(448

)

 

 

(26

)

 

 

9

 

 

 

(465

)

Amounts reclassified from accumulated other comprehensive loss into net income

 

 

 

 

 

 

 

 

(1,455

)

 a

 

(2

)

 a

 

(1,457

)

Income taxes reclassified into net income

 

 

 

 

 

 

 

 

317

 

 

 

 

 

 

317

 

Net current period other comprehensive loss

 

 

 

 

 

(16,056

)

 

 

(1,044

)

 

 

(35

)

 

 

(17,135

)

Balance at September 30, 2021

 

$

(3,451

)

 

$

(28,693

)

 

$

62

 

 

$

(35

)

 

$

(32,117

)

(a)
The amounts reclassified from accumulated other comprehensive loss were included in cost of sales.

The Company expects all of the existing gains and losses related to foreign currency derivatives reported in Accumulated other comprehensive loss as of September 30, 2022 to be reclassified into earnings during the next twelve months. See Note 10 for additional information about derivative financial instruments and the effects from reclassification to net income.