Ecovyst, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)

3 Months Ended

Mar. 31, 2020

Schedule of Accumulated Other Comprehensive Income (Loss)

The following tables present the tax effects of each component of other comprehensive income for the three months ended March 31, 2020 and 2019:













	Three months ended March 31,
	2020										2019
	Pre-tax amount		Tax benefit/(expense)		After-tax amount		Pre-tax amount		Tax benefit/(expense)		After-tax amount
Defined benefit and other postretirement plans:
Amortization of net gains and (losses)	$	44	$	(8)	$	36	$	(8)	$	2	$	(6)
Amortization of prior service cost	(64)		13		(51)		(32)		8		(24)
Benefit plans, net	(20)		5		(15)		(40)		10		(30)
Net loss from hedging activities	(705)		176		(529)		(2,070)		518		(1,552)
Foreign currency translation⁽¹⁾	(50,057)		3,702		(46,355)		9,282		(2,115)		7,167
Other comprehensive income (loss)	$	(50,782)	$	3,883	$	(46,899)	$	7,172	$	(1,587)	$	5,585

⁽¹⁾ The income tax benefit or expense included in other comprehensive income is attributed to the portion of foreign currency translation associated with the Company’s cross-currency interest rate swaps, for which the tax effect is based on the applicable U.S. deferred income tax rate. See Note 13 to these condensed consolidated financial statements for information regarding the Company’s cross-currency interest rate swaps.

The following table presents the changes in accumulated other comprehensive income (loss), net of tax, by component for the three months ended March 31, 2020 and 2019:


	Defined benefit and other postretirement plans		Net gain (loss) from hedging activities		Foreign currency translation		Total
December 31, 2019	$	3,568	$	(1,838)	$	(17,078)	$	(15,348)
Other comprehensive loss before reclassifications	(2)		(984)		(42,867)		(43,853)
Amounts reclassified from accumulated other comprehensive income⁽¹⁾	(13)		455		—		442


March 31, 2020	$	3,553	$	(2,367)	$	(59,945)	$	(58,759)

December 31, 2018	$	(546)	$	637	$	(39,195)	$	(39,104)
Other comprehensive income (loss) before reclassifications	1		(1,501)		6,852		5,352
Amounts reclassified from accumulated other comprehensive income⁽¹⁾	(31)		(51)		—		(82)
Net current period other comprehensive income (loss)	(30)		(1,552)		6,852		5,270
Tax Cuts and Jobs Act, reclassification from AOCI to retained earnings	1,684		190		—		1,874
March 31, 2019	$	1,108	$	(725)	$	(32,343)	$	(31,960)

⁽¹⁾ See the following table for details about these reclassifications. Amounts in parentheses indicate debits.

Reclassification out of Accumulated Other Comprehensive Income

The following table presents the reclassifications out of accumulated other comprehensive income for the three months ended March 31, 2020 and 2019:


Details about Accumulated Other Comprehensive Income Components	Amounts Reclassified from Accumulated Other Comprehensive Income⁽¹⁾					Affected Line Item where Income is Presented
	Three months ended March 31,
	2020		2019
Amortization of defined benefit and other postretirement items:
Prior service credit (cost)	$	52	$	33	Other income (expense)⁽²⁾
Actuarial gains (losses)	(34)		8		Other income (expense)⁽²⁾
	18		41		Total before tax
	(5)		(10)		Tax expense
	$	13	$	31	Net of tax

Gains and losses on cash flow hedges:
Interest rate caps	$	(231)	$	(123)	Interest expense
Natural gas swaps	(373)		191		Cost of goods sold
	(604)		68		Total before tax
	149		(17)		Tax benefit
	$	(455)	$	51	Net of tax

Total reclassifications for the period	$	(442)	$	82	Net of tax

⁽¹⁾Amounts in parentheses indicate debits to profit/loss.

⁽²⁾These accumulated other comprehensive income (loss) components are components of net periodic pension and other postretirement cost (see Note 15 to these condensed consolidated financial statements for additional details).