Accumulated Other Comprehensive Income (Loss)

9 Months Ended

Oct. 01, 2022

Accumulated Other Comprehensive Income (Loss)

NOTE 15. ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

The following table shows the components of accumulated other comprehensive income (loss) for the three and nine months ended October 1, 2022 and October 2, 2021 (in thousands):


Three months ended October 1, 2022	Aluminum			MTP
(in thousands)	Contracts			Contracts			Total
Balance at July 2, 2022	$	(3,846	)	$	1,478		$	(2,368	)
Increase (decrease) in fair value of derivatives		(2,012	)		(621	)		(2,633	)
Amounts reclassified from accumulated other comprehensive income (loss)		3,185			(769	)		2,416
Tax effect		(279	)		335			56
Net current-period other comprehensive loss		894			(1,055	)		(161	)
Balance at October 1, 2022	$	(2,952	)	$	423		$	(2,529	)

Nine months ended October 1, 2022	Aluminum			MTP
(in thousands)	Contracts			Contracts			Total
Balance at January 1, 2022	$	3,610		$	3,396		$	7,006
Increase (decrease) in fair value of derivatives		(9,427	)		(60	)		(9,487	)
Amounts reclassified from accumulated other comprehensive income		597			(3,941	)		(3,344	)
Tax effect		2,268			1,028			3,296
Net current-period other comprehensive loss		(6,562	)		(2,973	)		(9,535	)
Balance at October 1, 2022	$	(2,952	)	$	423		$	(2,529	)



Three months ended October 2, 2021	Aluminum			MTP
(in thousands)	Contracts			Contracts			Total
Balance at July 3, 2021	$	6,191		$	5,139		$	11,330
Increase in fair value of derivatives		4,194			2,355			6,549
Amounts reclassified from accumulated other comprehensive income		(4,271	)		(2,425	)		(6,696	)
Tax effect		20			17			37
Net current-period other comprehensive loss		(57	)		(53	)		(110	)
Balance at October 2, 2021	$	6,134		$	5,086		$	11,220

Nine months ended October 2, 2021	Aluminum			MTP
(in thousands)	Contracts			Contracts			Total
Balance at January 2, 2021	$	2,403		$	317		$	2,720
Increase in fair value of derivatives		13,385			10,525			23,910
Amounts reclassified from accumulated other comprehensive income		(8,423	)		(4,181	)		(12,604	)
Tax effect		(1,231	)		(1,575	)		(2,806	)
Net current-period other comprehensive income		3,731			4,769			8,500
Balance at October 2, 2021	$	6,134		$	5,086		$	11,220