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)

6 Months Ended

Jun. 30, 2022

Schedule of Accumulated Other Comprehensive Income (Loss)

The following tables present the tax effects of each component of other comprehensive income (loss) for the three and six months ended June 30, 2022 and 2021:


	Three months ended June 30,
	2022						2021
	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	$	—	$	—	$	—	$	2	$	(1)	$	1
Amortization of prior service cost	(52)		13		(39)		(58)		15		(43)

Benefit plans, net	(52)		13		(39)		(56)		14		(42)
Net gain from hedging activities	6,343		(1,586)		4,757		551		(138)		413
Foreign currency translation(1)	(7,994)		—		(7,994)		12,163		—		12,163
Other comprehensive income	$	(1,703)	$	(1,573)	$	(3,276)	$	12,658	$	(124)	$	12,534

	Six months ended June 30,
	2022						2021
	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	$	1	$	—	$	1	$	3	$	(1)	$	2
Amortization of prior service cost	(105)		26		(79)		(116)		29		(87)

Benefit plans, net	(104)		26		(78)		(113)		28		(85)
Net gain from hedging activities	24,639		(6,160)		18,479		1,571		(393)		1,178
Foreign currency translation(1)	(10,299)		—		(10,299)		5,855		2,447		8,302
Other comprehensive income (loss)	$	14,236	$	(6,134)	$	8,102	$	7,313	$	2,082	$	9,395

(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 the six months ended June 30, 2021, for which the tax effect is based on the applicable U.S. deferred income tax rate. See Note 14 to these condensed consolidated financial statements for information regarding the Company’s cross-currency interest rate swaps, which were settled in March 2021.

The following table presents the changes in accumulated other comprehensive income (loss), net of tax, by component for the six months ended June 30, 2022 and 2021:


	Defined benefit and other postretirement plans		Net gain (loss) from hedging activities		Foreign currency translation		Total
December 31, 2021	$	11,072	$	2,254	$	(19,118)	$	(5,792)
Other comprehensive income (loss) before reclassifications	(155)		18,029		(10,299)		7,575
Amounts reclassified from accumulated other comprehensive income(1)	77		450		—		527

June 30, 2022	$	10,994	$	20,733	$	(29,417)	$	2,310

December 31, 2020	$	5,278	$	(660)	$	(19,883)	$	(15,265)
Other comprehensive income (loss) before reclassifications	(170)		1,043		8,243		9,116
Amounts reclassified from accumulated other comprehensive income(1)	85		135		—		220
June 30, 2021	$	5,193	$	518	$	(11,640)	$	(5,929)

(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 and six months ended June 30, 2022 and 2021:


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 June 30,				Six months ended June 30,
	2022		2021		2022		2021
Amortization of defined benefit and other postretirement items:
Prior service (cost) credit	$	(53)	$	(58)	$	(105)	$	(116)	Other income (expense)(2)
Actuarial gains (losses)	1		2		2		3		Other income (expense)(2)
	(52)		(56)		(103)		(113)		Total before tax
	13		15		26		28		Tax benefit (expense)
	$	(39)	$	(41)	$	(77)	$	(85)	Net of tax

Gains and losses on cash flow hedges:
Interest rate caps	$	(359)	$	(70)	$	(598)	$	(179)	Interest expense


	88		17		148		44		Tax benefit
	$	(271)	$	(53)	$	(450)	$	(135)	Net of tax

Total reclassifications for the period	$	(310)	$	(94)	$	(527)	$	(220)	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 16 to these condensed consolidated financial statements for additional details).