Air Products Chemicals Inc
For the period ended Dec 31, 2023. Filed Feb 5, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Dec 31, 2023 · Filed Feb 5, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
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Accumulated Other Comprehensive Loss
- ACCUMULATED OTHER COMPREHENSIVE LOSS
The table below summarizes changes in accumulated other comprehensive loss ("AOCL"), net of tax, attributable to Air Products for the three months ended 31 December 2023:
| Derivativesqualifyingas hedges | Foreigncurrencytranslationadjustments | Pension andpostretirementbenefits | Total | |
|---|---|---|---|---|
| Balance at 30 September 2023 | $61.1 | ($1,913.3) | ($597.2) | ($2,449.4) |
| Other comprehensive (loss) income before reclassifications | (161.1) | 380.6 | — | 219.5 |
| Amounts reclassified from AOCL | (42.2) | — | 13.7 | (28.5) |
| Net current period other comprehensive (loss) income | (203.3) | 380.6 | 13.7 | 191.0 |
| Amount attributable to noncontrolling interests | (154.1) | 16.0 | — | (138.1) |
| Balance at 31 December 2023 | $11.9 | ($1,548.7) | ($583.5) | ($2,120.3) |
The table below summarizes the reclassifications out of AOCL and the affected line item on the consolidated income statements:
| Three Months Ended | ||
|---|---|---|
| 31 December | ||
| 2023 | 2022 | |
| Gain on Cash Flow Hedges, net of tax | ||
| Sales | $0.2 | $— |
| Cost of sales | 1.0 | 1.0 |
| Interest expense | 0.8 | 1.0 |
| Other non-operating income (expense), net | (44.2) | (70.7) |
| Total Gain on Cash Flow Hedges, net of tax | ($42.2) | ($68.7) |
| Pension and Postretirement Benefits, net of tax(A) | $13.7 | $11.9 |
(A)The components of net periodic benefit/cost reclassified out of AOCL include items such as prior service cost amortization, actuarial loss amortization, settlements, and curtailments and are included in “Other non-operating income (expense), net” on the consolidated income statements. Refer to Note 9, Retirement Benefits, for additional information.
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