Note 11 – Accumulated Other Comprehensive Loss Net change and ending balances for the various components of accumulated other comprehensive loss as of and for the three months ended March 31, 2026 and 2025 are summarized below. All amounts are net of tax where applicable.
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Foreign
Currency
Translation |
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Unrecognized
Employee
Benefit Costs |
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Cash Flow
Hedges |
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Total
Accumulated Other
Comprehensive Loss |
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Less:
Noncontrolling
Interest |
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Accumulated Other
Comprehensive Loss
Attributable to Ampco-Pittsburgh |
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Balance at January 1, 2026 |
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$ |
863 |
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|
$ |
(29,405 |
) |
|
$ |
116 |
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|
$ |
(28,426 |
) |
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$ |
(222 |
) |
|
$ |
(28,204 |
) |
Net change |
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(563 |
) |
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|
(61 |
) |
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|
95 |
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|
(529 |
) |
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|
211 |
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|
(740 |
) |
Balance at March 31, 2026 |
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$ |
300 |
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|
$ |
(29,466 |
) |
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$ |
211 |
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|
$ |
(28,955 |
) |
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$ |
(11 |
) |
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$ |
(28,944 |
) |
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Balance at January 1, 2025 |
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$ |
(27,691 |
) |
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$ |
(39,856 |
) |
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$ |
(102 |
) |
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$ |
(67,649 |
) |
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$ |
(813 |
) |
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$ |
(66,836 |
) |
Net change |
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4,125 |
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(464 |
) |
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|
721 |
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4,382 |
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|
71 |
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|
4,311 |
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Balance at March 31, 2025 |
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$ |
(23,566 |
) |
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$ |
(40,320 |
) |
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$ |
619 |
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$ |
(63,267 |
) |
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$ |
(742 |
) |
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$ |
(62,525 |
) |
The following summarizes the line items affected on the condensed consolidated statements of operations for components reclassified from accumulated other comprehensive loss. Amounts in parentheses represent credits to net (loss) income.
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Three Months Ended March 31, |
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2026 |
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2025 |
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Amortization of unrecognized employee benefit costs: |
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Other loss – net |
$ |
(67 |
) |
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$ |
(65 |
) |
Income tax effect |
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— |
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— |
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Net of tax |
$ |
(67 |
) |
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$ |
(65 |
) |
Settlements of cash flow hedges: |
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Depreciation and amortization (foreign currency purchase contracts) |
$ |
(6 |
) |
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$ |
(6 |
) |
Costs of products sold (excluding depreciation and
amortization) (futures contracts – copper and aluminum) |
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(64 |
) |
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(55 |
) |
Total before income tax |
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(70 |
) |
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(61 |
) |
Income tax effect |
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2 |
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2 |
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Net of tax |
$ |
(68 |
) |
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$ |
(59 |
) |
The income tax effect associated with the various components of other comprehensive (loss) income for the three months ended March 31, 2026 and 2025 is summarized below. Amounts in parentheses represent credits to net (loss) income when reclassified to earnings. Certain amounts have no tax effect due to the Corporation having a valuation allowance recorded against the deferred income tax assets for the jurisdiction where the income or expense is recognized. Foreign currency translation adjustments exclude the effect of income taxes since earnings of non-U.S. subsidiaries are deemed to be reinvested for an indefinite period of time.
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Three Months Ended March 31, |
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2026 |
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2025 |
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Income tax effect associated with changes in: |
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Unrecognized employee benefit costs |
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$ |
— |
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$ |
— |
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Fair value of cash flow hedges |
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$ |
6 |
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$ |
21 |
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Income tax effect associated with reclassification adjustments: |
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Amortization of unrecognized employee benefit costs |
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$ |
— |
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$ |
— |
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Settlement of cash flow hedges |
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$ |
2 |
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$ |
2 |
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