Summary Of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2015

Schedule Of Diluted Earnings Per Share Computed Using Weighted Average Common And Potentially Dilutive Common Equivalent Shares Outstanding

Diluted earnings per share is computed using the weighted average common and potentially dilutive common equivalent shares outstanding, determined as follows:



	2015	2014	2013
Weighted average shares outstanding used to compute basic earnings per share	32,578,116	32,302,108	32,171,751
Incremental shares attributable to stock options and restricted stock	—	251,746	427,528
Shares used to compute diluted earnings per share	32,578,116	32,553,854	32,599,279

Schedule Of Assumptions For Valuing Stock Options Granted

The assumptions used in this model for valuing Tredegar stock options granted in 2014 and 2013 (no grants in 2015) are as follows:



	2014			2013
Dividend yield	1.3		%	1.1		%
Weighted average volatility percentage	43.5		%	48.3		%
Weighted average risk-free interest rate	2.0		%	1.1		%
Holding period (years):
Officers	6.0			6.0
Management	5.0			5.0
Weighted average exercise price at date of grant (also weighted average market price at date of grant):
Officers	$	22.49		$	24.84
Management	$	22.33		$	25.10

Schedule Of Stock Options Granted And Related Estimated Fair Value At Date Of Grant

Tredegar stock options granted during 2014 and 2013 (no grants in 2015), and related estimated fair value at the date of grant, are as follows:



	2014		2013
Stock options granted (number of shares):
Officers	87,820		94,400
Management	93,656		90,300
Total	181,476		184,700
Estimated weighted average fair value of options per share at date of grant:
Officers	$	9.21	$	10.37
Management	$	7.60	$	9.65
Total estimated fair value of stock options granted (in thousands)	$	1,521	$	1,850

Schedule of Accumulated Other Comprehensive Income (Loss)

The following table summarizes the after-tax changes in accumulated other comprehensive income (loss) for the year ended December 31, 2015:



(In Thousands)	Foreign currency translation adjustment			Gain (loss) on derivative financial instruments			Pension and other post-retirement benefit adjustments			Total
Beginning balance, January 1, 2015	$	(47,270	)	$	656		$	(103,581	)	$	(150,195	)
Other comprehensive income (loss) before reclassifications	(65,537		)	(3,221		)	(2,176		)	(70,934		)
Amounts reclassified from accumulated other comprehensive income (loss)	—			2,192			10,218			12,410
Net other comprehensive income (loss) - current period	(65,537		)	(1,029		)	8,042			(58,524		)
Ending balance, December 31, 2015	$	(112,807	)	$	(373	)	$	(95,539	)	$	(208,719	)

The following table summarizes the after-tax changes in accumulated other comprehensive income (loss) for the year ended December 31, 2014:



(In Thousands)	Foreign currency translation adjustment			Gain (loss) on derivative financial instruments			Pension and other post-retirement benefit adjustments			Total
Beginning balance, January 1, 2014	$	(19,205	)	$	765		$	(71,848	)	$	(90,288	)
Other comprehensive income (loss) before reclassifications	(28,065		)	294			(38,730		)	(66,501		)
Amounts reclassified from accumulated other comprehensive income (loss)	—			(403		)	6,997			6,594
Net other comprehensive income (loss) - current period	(28,065		)	(109		)	(31,733		)	(59,907		)
Ending balance, December 31, 2014	$	(47,270	)	$	656		$	(103,581	)	$	(150,195	)

Reclassification out of Accumulated Other Comprehensive Income

Reclassifications of balances out of accumulated other comprehensive income (loss) into net income during 2015 are summarized as follows:



(In Thousands)	Amount reclassified from other comprehensive income (loss)			Location of gain (loss) reclassified from accumulated other comprehensive income (loss) to net income (loss)
Gain (loss) on derivative financial instruments:
Aluminum future contracts, before taxes	$	(3,538	)	Cost of sales
Foreign currency forward contracts, before taxes	62			Cost of sales
Total, before taxes	(3,476		)
Income tax expense (benefit)	(1,284		)	Income taxes
Total, net of tax	$	(2,192	)
Amortization of pension and other post-retirement benefits:
Actuarial gain (loss) and prior service costs, before taxes	$	(16,041	)	(a)
Income tax expense (benefit)	(5,823		)	Income taxes
Total, net of tax	$	(10,218	)

(a) This component of accumulated other comprehensive income is included in the computation of net periodic pension cost (see Note 14 for additional detail).

Reclassifications of balances out of accumulated other comprehensive income (loss) into net income during 2014 are summarized as follows:



(In Thousands)	Amount reclassified from other comprehensive income (loss)			Location of gain (loss) reclassified from accumulated other comprehensive income (loss) to net income
Gain (loss) on derivative financial instruments:
Aluminum future contracts, before taxes	$	631		Cost of sales
Foreign currency forward contracts, before taxes	16			Cost of sales
Total, before taxes	647
Income tax expense (benefit)	244			Income taxes
Total, net of tax	$	403
Amortization of pension and other post-retirement benefits:
Actuarial gain (loss) and prior service costs, before taxes	$	(10,579	)	(a)
Income tax expense (benefit)	(3,582		)	Income taxes
Total, net of tax	$	(6,997	)

(a) This component of accumulated other comprehensive income is included in the computation of net periodic pension cost (see Note 14 for additional detail).