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Accumulated Other Comprehensive Income (Loss)

6 Months Ended

Jun. 30, 2021

Jun. 30, 2020

Accumulated Other Comprehensive Income (Loss) [Line Items]

Comprehensive Income (Loss) Note [Text Block]

The following table summarizes the after-tax changes in accumulated other comprehensive income (loss) for the six months ended June 30, 2021:

(In thousands)			Foreign currency translation adjustment						Gain (loss) on derivative financial instruments						Pension and other post-retirement benefit adjustments						Total
Beginning balance, January 1, 2021			$	(84,149)					$	2,264					$	(96,519)					$	(178,404)
Other comprehensive income (loss) before reclassifications			1,345						2,724						—						4,069
Amounts reclassified from accumulated other comprehensive income (loss)			—						(1,492)						6,637						5,145
Net other comprehensive income (loss) - current period			1,345						1,232						6,637						9,214
Ending balance, June 30, 2021			$	(82,804)					$	3,496					$	(89,882)					$	(169,190)

The following table summarizes the after-tax changes in accumulated other comprehensive income (loss) for the six months ended June 30, 2020:

(In thousands)			Foreign currency translation adjustment						Gain (loss) on derivative financial instruments						Pension and other post-retirement benefit adjustments						Total
Beginning balance, January 1, 2020			$	(100,663)					$	(1,307)					$	(95,681)					$	(197,651)
Other comprehensive income (loss) before reclassifications			(12,003)						(6,242)						—						(18,245)
Amounts reclassified from accumulated other comprehensive income (loss)			—						3,725						5,862						9,587
Net other comprehensive income (loss) - current period			(12,003)						(2,517)						5,862						(8,658)
Ending balance, June 30, 2020			$	(112,666)					$	(3,824)					$	(89,819)					$	(206,309)

Reclassifications of balances out of accumulated other comprehensive income (loss) into net income (loss) for the three months ended June 30, 2021 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			$	1,372					Cost of sales
Foreign currency forward contracts, before taxes			(147)						Selling, general & administrative
Foreign currency forward contracts, before taxes			16						Cost of sales
Total, before taxes			1,241
Income tax expense (benefit)			257						Income tax expense (benefit)
Total, net of tax			$	984
Amortization of pension and other post-retirement benefits:
Actuarial gain (loss) and prior service costs, before taxes			$	(4,240)					(a)
Income tax expense (benefit)			(922)						Income tax expense (benefit)
Total, net of tax			$	(3,318)

(a)    This component of accumulated other comprehensive income (loss) is included in the computation of net periodic pension cost (see Note 9 for additional detail).

Reclassifications of balances out of accumulated other comprehensive income (loss) into net income (loss) for the six months ended June 30, 2021 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			$	2,012					Cost of sales
Foreign currency forward contracts, before taxes			(149)						Selling, general & administrative
Foreign currency forward contracts, before taxes			33						Cost of sales
Total, before taxes			1,896
Income tax expense (benefit)			404						Income tax expense (benefit)
Total, net of tax			$	1,492
Amortization of pension and other post-retirement benefits:
Actuarial gain (loss) and prior service costs, before taxes			$	(8,483)					(a)
Income tax expense (benefit)			(1,846)						Income tax expense (benefit)
Total, net of tax			$	(6,637)

(a)    This component of accumulated other comprehensive income (loss) is included in the computation of net periodic pension cost (see Note 9 for additional detail).

Reclassifications of balances out of accumulated other comprehensive income (loss) into net income for the three months ended June 30, 2020 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			$	(1,551)					Cost of sales
Foreign currency forward contracts, before taxes			(1,798)						Selling, general & administrative
Foreign currency forward contracts, before taxes			16						Cost of sales
Total, before taxes			(3,333)
Income tax expense (benefit)			(721)						Income tax expense (benefit)
Total, net of tax			$	(2,612)
Amortization of pension and other post-retirement benefits:
Actuarial gain (loss) and prior service costs, before taxes			$	(3,766)					(a)
Income tax expense (benefit)			(835)						Income tax expense (benefit)
Total, net of tax			$	(2,931)

(a)    This component of accumulated other comprehensive income (loss) is included in the computation of net periodic pension cost (see Note 9 for additional detail).

Cost of goods sold

The following table summarizes the after-tax changes in accumulated other comprehensive income (loss) for the six months ended June 30, 2021:

(In thousands)			Foreign currency translation adjustment						Gain (loss) on derivative financial instruments						Pension and other post-retirement benefit adjustments						Total
Beginning balance, January 1, 2021			$	(84,149)					$	2,264					$	(96,519)					$	(178,404)
Other comprehensive income (loss) before reclassifications			1,345						2,724						—						4,069
Amounts reclassified from accumulated other comprehensive income (loss)			—						(1,492)						6,637						5,145
Net other comprehensive income (loss) - current period			1,345						1,232						6,637						9,214
Ending balance, June 30, 2021			$	(82,804)					$	3,496					$	(89,882)					$	(169,190)

The following table summarizes the after-tax changes in accumulated other comprehensive income (loss) for the six months ended June 30, 2020:

(In thousands)			Foreign currency translation adjustment						Gain (loss) on derivative financial instruments						Pension and other post-retirement benefit adjustments						Total
Beginning balance, January 1, 2020			$	(100,663)					$	(1,307)					$	(95,681)					$	(197,651)
Other comprehensive income (loss) before reclassifications			(12,003)						(6,242)						—						(18,245)
Amounts reclassified from accumulated other comprehensive income (loss)			—						3,725						5,862						9,587
Net other comprehensive income (loss) - current period			(12,003)						(2,517)						5,862						(8,658)
Ending balance, June 30, 2020			$	(112,666)					$	(3,824)					$	(89,819)					$	(206,309)

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