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Accumulated Other Comprehensive Income (Loss) | 12 Months Ended
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Dec. 31, 2020
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, 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 (1) |  |  | 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 | )
(1) | Includes $7,216 and $72 net-of-tax impact of accumulated other comprehensive income 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.
|  | Gains and (Losses) on |  |  | Foreign Currency |  |  | Adjustment to Early |  |  |  |  |
|  | Hedging Derivatives |  |  | Gains (Losses) |  |  | Retiree Medical Plan |  |  | Total |
December 31, 2018 |  | $ | (6,500 | ) |  | $ | (304,646 | ) |  | $ | 7,013 |  |  | $ | (304,133 | )
Other comprehensive income (loss) before reclassifications |  |  | (9,833 | ) |  |  | 7,873 |  |  |  | (1,148 | ) |  |  | (3,108 | )
Amounts reclassified from accumulated other comprehensive income (loss) into earnings (2) |  |  | 2,333 |  |  |  | — |  |  |  | 57 |  |  |  | 2,390 |
Net current-period other comprehensive income (loss) |  |  | (7,500 | ) |  |  | 7,873 |  |  |  | (1,091 | ) |  |  | (718 | )
Other |  |  | — |  |  |  | — |  |  |  | 1,885 |  |  |  | 1,885 |
December 31, 2019 |  | $ | (14,000 | ) |  | $ | (296,773 | ) |  | $ | 7,807 |  |  | $ | (302,966 | )
(2) | Includes $2,333 and $57 net-of-tax impact of accumulated other comprehensive income 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 $700 and $49, respectively.
In December 2020, Nucor closed on an agreement to transfer its 50% interest in Duferdofin Nucor to the owner of the remaining 50% interest. As a result, $158.6 million of cumulative foreign currency translation losses related to our investment was reclassified into earnings in the fourth quarter. The non-cash charge is included in the steel mills segment and in losses and impairments of assets in the consolidated statement of earnings for the year ended December 31, 2020.

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- Definition The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -URI http://asc.fasb.org/topic&trid=2134417 + Details
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- References No definition available. + Details
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