XML 83 R32.htm IDEA: XBRL DOCUMENT
v3.6.0.2

Summary Of Significant Accounting Policies (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] |  |  |
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:
| 2016 |  | 2015 |  | 2014
Weighted average shares outstanding used to compute basic earnings per share | 32,761,793 |  |  | 32,578,116 |  |  | 32,302,108 |
Incremental shares attributable to stock options and restricted stock | 13,279 |  |  | — |  |  | 251,746 |
Shares used to compute diluted earnings per share | 32,775,072 |  |  | 32,578,116 |  |  | 32,553,854 |
Schedule Of Assumptions For Valuing Stock Options Granted | The assumptions used in this model for valuing Tredegar stock options granted in 2014 (no grants in 2015 and 2016) were as follows:
| 2014
Dividend yield | 1.3 | %
Weighted average volatility percentage | 43.5 | %
Weighted average risk-free interest rate | 2.0 | %
Holding period (years): |
Officers | 6.0 |
Management | 5.0 |
Weighted average exercise price at date of grant (also weighted average market price at date of grant): |
Officers | $ | 22.49 |
Management | $ | 22.33 |
Schedule Of Stock Options Granted And Related Estimated Fair Value At Date Of Grant | Tredegar stock options granted during 2014 (no grants in 2015 and 2016), and related estimated fair value at the date of grant, are as follows:
| 2014
Stock options granted (number of shares): |
Officers | 87,820 |
Management | 93,656 |
Total | 181,476 |
Estimated weighted average fair value of options per share at date of grant: |
Officers | $ | 9.21 |
Management | $ | 7.60 |
Total estimated fair value of stock options granted (in thousands) | $ | 1,521 |
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, 2016:
(In Thousands) | Foreign currency translation adjustment |  | Gain (loss) on derivative financial instruments |  | Pension and other post-retirement benefit adjustments |  | Total
Beginning balance, January 1, 2016 | $ | (112,807 | ) |  | $ | (373 | ) |  | $ | (95,539 | ) |  | $ | (208,719 | )
Other comprehensive income (loss) before reclassifications | 18,837 |  |  | 247 |  |  | (3,288 | ) |  | 15,796 |
Amounts reclassified from accumulated other comprehensive income (loss) | — |  |  | 989 |  |  | 8,700 |  |  | 9,689 |
Net other comprehensive income (loss) - current period | 18,837 |  |  | 1,236 |  |  | 5,412 |  |  | 25,485 |
Ending balance, December 31, 2016 | $ | (93,970 | ) |  | $ | 863 |  |  | $ | (90,127 | ) |  | $ | (183,234 | )
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 | )
Reclassification out of Accumulated Other Comprehensive Income | Reclassifications of balances out of accumulated other comprehensive income (loss) into net income during 2016 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 | $ | (1,630 | ) |  | Cost of sales
Foreign currency forward contracts, before taxes | 62 |  |  | Cost of sales
Total, before taxes | (1,568 | ) |  |
Income tax expense (benefit) | (579 | ) |  | Income taxes
Total, net of tax | $ | (989 | ) |  |
Amortization of pension and other post-retirement benefits: |  |  |
Actuarial gain (loss) and prior service costs, before taxes | $ | (13,098 | ) |  | (a)
Income tax expense (benefit) | (4,398 | ) |  | Income taxes
Total, net of tax | $ | (8,700 | ) |  |
(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 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
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).

X
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details
Name: | us-gaap_ReclassificationAdjustmentOutOfAccumulatedOtherComprehensiveIncomeOnDerivativesLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information about items reclassified out of accumulated other comprehensive income (loss). + References No definition available. + Details
Name: | us-gaap_ReclassificationOutOfAccumulatedOtherComprehensiveIncomeTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of accumulated other comprehensive income (loss). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 14A -URI http://asc.fasb.org/extlink&oid=66004124&loc=SL7669686-108580 + Details
Name: | us-gaap_ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) in the future that were not included in the computation of diluted EPS because to do so would increase EPS amounts or decrease loss per share amounts for the period presented, by antidilutive securities. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 + Details
Name: | us-gaap_ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the weighted-average grant-date fair value of equity options or other equity instruments granted during the year. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d)(1) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
Name: | us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValueTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration