Detail of Certain Balance Sheet Accounts

12 Months Ended

Dec. 31, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Detail of Certain Balance Sheet Accounts


	December 31,
	2021		2020
	(In thousands)
Inventories of products:
Finished products	$	324,482	$	240,021
Work in progress	3,698		3,074
Raw materials	121,227		84,039
Inventories of products, gross	449,407		327,134
Inventory reserves	(6,382)		(8,249)
Inventories of products, net	$	443,025	$	318,885
Property, plant, and equipment:
Land	$	47,348	$	46,936
Buildings	202,813		199,720
Plant and equipment (1)	1,379,997		1,358,990
Construction in progress	93,689		69,336
Finance leases	2,831		—
Property, plant, and equipment	1,726,678		1,674,982
Less accumulated depreciation	791,835		732,279
Property, plant, and equipment, net of accumulated depreciation	$	934,843	$	942,703
Intangible assets:
Contractual agreements	$	262,430	$	265,375
Technology	145,862		147,011
Customer relationships	60,340		60,623
Tradenames/trademarks	84,512		83,519
Software	73,822		68,276
Intangible assets	626,966		624,804
Less accumulated amortization:
Contractual agreements	131,417		110,811
Technology	80,586		74,693
Customer relationships	41,544		40,205
Tradenames/trademarks	59,274		53,951
Software	53,180		50,410
Accumulated amortization	366,001		330,070
Intangible assets, net of accumulated amortization	$	260,965	$	294,734

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(1) Plant and equipment, net of depreciation, includes $2.0 million and $2.7 million of assets related to finance leases as of December 31, 2021 and December 31, 2020, respectively.


	December 31,
	2021		2020
	(In thousands)
Other payables and accruals:
Employee related	$	59,478	$	52,145
Short-term operating lease liabilities	20,123		18,299
Interest payable	4,379		3,873
Capital project accruals	3,825		1,149
Customer related	12,935		10,484
Short-term deferred income	26,737		24,182
Income tax payable	40,657		26,367
Utilities payable	4,081		2,886
Property and other taxes	1,648		1,303
Other	22,064		26,676
Total other payables and accruals	$	195,927	$	167,364
Other long-term liabilities:
Pension and other postretirement benefits	$	92,151	$	133,634
Long-term tax liability	18,246		19,530
Other	15,679		15,402
Total other long-term liabilities	$	126,076	$	168,566

Depreciation expense for property, plant, and equipment was approximately $85.0 million, $82.7 million, and $89.9 million for the years ended December 31, 2021, 2020, and 2019, respectively.

Amortization expense for intangible assets was approximately $41.1 million, $43.0 million, and $46.0 million for the years ended December 31, 2021, 2020, and 2019, respectively. Estimated amortization expense for each of the next five years is as follows:


December 31:	Amortization Expense
	(In thousands)
2022	$	39,367
2023	$	37,399
2024	$	36,621
2025	$	36,338
2026	$	31,258

Changes in accumulated other comprehensive income (loss) by component were as follows:


	Cumulative Foreign Currency Translation		Cash Flow Hedges, Net of Tax			Net Investment Hedges, Net of Tax		Benefit Plans Liability, Net of Tax			Total
	(In thousands)
Balance at December 31, 2019	$	(29,389)	$	(2,389)		$	13,624	$	(87,641)		$	(105,795)
Other comprehensive income (loss) before reclassifications	36,431		1,387			(25,881)		(11,370)			567
Amounts reclassified to (income) expense from accumulated other comprehensive income (loss)	66,533		1,002		(2)	(899)		727		(1)	67,363
Net other comprehensive income (loss) for the year	102,964		2,389			(26,780)		(10,643)			67,930
Balance at December 31, 2020	73,575		—			(13,156)		(98,284)			(37,865)
Other comprehensive income (loss) before reclassifications	(28,875)		—			19,792		22,069			12,986
Amounts reclassified to (income) expense from accumulated other comprehensive income (loss)	—		—			—		(3,042)		(1)	(3,042)
Net other comprehensive income (loss) for the year	(28,875)		—			19,792		19,027			9,944
Balance at December 31, 2021	$	44,700	$	—		$	6,636	$	(79,257)		$	(27,921)

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(1) The reclassifications from accumulated other comprehensive income (loss) is for the change in benefit plans liability related to amortization of net actuarial losses and prior service costs. These costs are allocated between cost of goods sold, selling, general, and administrative and research and development expenses in the Consolidated Statement of Operations. See Note 12 Employee Benefits for further information related to net periodic benefit cost for pension and other post-retirement benefit plans.

(2) The reclassifications from accumulated other comprehensive income (loss) is related to the exit of interest rate swaps related to prepayments under our U.S. dollar denominated tranche (the “USD Tranche”). These costs are recorded in loss on extinguishment of debt in the Consolidated Statement of Operations.