REGAL REXNORD CORP
For the period ended Sep 30, 2024. Filed Nov 5, 2024.
View on SEC.govAbout this filing
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.
Sep 30, 2024 · Filed Nov 5, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
4. Accumulated Other Comprehensive Income (Loss)
- ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
Foreign currency translation adjustments, hedging activities and pension and post-retirement benefit adjustments are included in Accumulated Other Comprehensive Income (Loss) ("AOCI"), a component of Total Equity.
The following tables present changes in AOCI by component for the three and nine months ended September 30, 2024 and September 30, 2023:
| Three Months Ended | ||||
|---|---|---|---|---|
| September 30, 2024 | Hedging Activities | Pension and Post Retirement Benefit Adjustments | Foreign Currency Translation Adjustments | Total |
| Beginning Balance | $16.1 | $(25.1) | $(307.7) | $(316.7) |
| Other Comprehensive (Loss) Income before Reclassifications | (10.9) | — | 124.3 | 113.4 |
| Tax Impact | 2.6 | — | — | 2.6 |
| Amounts Reclassified from Accumulated Other Comprehensive (Loss) Income | (7.2) | 0.2 | — | (7.0) |
| Tax Impact | 1.7 | (0.1) | — | 1.6 |
| Net Current Period Other Comprehensive (Loss) Income | (13.8) | 0.1 | 124.3 | 110.6 |
| Ending Balance | $2.3 | $(25.0) | $(183.4) | $(206.1) |
| September 30, 2023 | Hedging Activities | Pension and Post Retirement Benefit Adjustments | Foreign Currency Translation Adjustments | Total |
| Beginning Balance | $38.6 | $(14.1) | $(351.2) | $(326.7) |
| Other Comprehensive Loss before Reclassifications | (2.4) | — | (85.7) | (88.1) |
| Tax Impact | 0.6 | — | — | 0.6 |
| Amounts Reclassified from Accumulated Other Comprehensive Loss | (3.1) | (0.5) | — | (3.6) |
| Tax Impact | 0.7 | 0.1 | — | 0.8 |
| Net Current Period Other Comprehensive Loss | (4.2) | (0.4) | (85.7) | (90.3) |
| Ending Balance | $34.4 | $(14.5) | $(436.9) | $(417.0) |
| Nine Months Ended | ||||
|---|---|---|---|---|
| September 30, 2024 | Hedging Activities | Pension and Post Retirement Benefit Adjustments | Foreign Currency Translation Adjustments | Total |
| Beginning Balance | $28.8 | $(25.0) | $(286.2) | $(282.4) |
| Other Comprehensive Loss before Reclassifications | (11.8) | (0.5) | (18.5) | (30.8) |
| Tax Impact | 2.8 | 0.1 | — | 2.9 |
| Amounts Reclassified from Accumulated Other Comprehensive (Loss) Income | (23.0) | 0.5 | 121.3 | 98.8 |
| Tax Impact | 5.5 | (0.1) | — | 5.4 |
| Net Current Period Other Comprehensive (Loss) Income | (26.5) | — | 102.8 | 76.3 |
| Ending Balance | $2.3 | $(25.0) | $(183.4) | $(206.1) |
| September 30, 2023 | Hedging Activities | Pension and Post Retirement Benefit Adjustments | Foreign Currency Translation Adjustments | Total |
| Beginning balance | $17.3 | $(13.3) | $(356.1) | $(352.1) |
| Other Comprehensive Income (Loss) before Reclassifications | 24.6 | — | (80.8) | (56.2) |
| Tax Impact | (5.9) | — | — | (5.9) |
| Amounts Reclassified from Accumulated Other Comprehensive Loss | (2.1) | (1.6) | — | (3.7) |
| Tax Impact | 0.5 | 0.4 | — | 0.9 |
| Net Current Period Other Comprehensive Income (Loss) | 17.1 | (1.2) | (80.8) | (64.9) |
| Ending Balance | $34.4 | $(14.5) | $(436.9) | $(417.0) |
The Condensed Consolidated Statements of Income (Loss) line items affected by the hedging activities reclassified from AOCI in the tables above are disclosed in Note 13 - Derivative Financial Instruments.
The reclassification amounts for pension and post-retirement benefit adjustments in the tables above are part of net periodic benefit costs recorded in Other (Income) Expense, Net (see also Note 8 - Retirement Plans).
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.