Vulcan Materials CO
For the period ended Dec 31, 2024. Filed Feb 20, 2025.
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FY2024 · Filed Feb 20, 2025
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Note
NOTE 14: OTHER COMPREHENSIVE INCOME
Comprehensive income comprises two subsets: net earnings and other comprehensive income (OCI). The components of OCI are presented in the accompanying Consolidated Statements of Comprehensive Income and Consolidated Statements of Equity, net of applicable taxes.
Amounts in accumulated other comprehensive income (loss) (AOCI), net of tax, at December 31, are as follows:
| in millions | 2024 | 2023 | 2022 |
|---|---|---|---|
| Cash flow hedges | $(17.7) | $(19.4) | $(21.0) |
| Pension and postretirement plans | (109.7) | (124.4) | (133.7) |
| Total AOCI | $(127.4) | $(143.8) | $(154.7) |
Changes in AOCI, net of tax, for the three years ended December 31, 2024 are as follows:
| in millions | Cash FlowHedges | Pension andPostretirementBenefit Plans | Total |
|---|---|---|---|
| AOCI Balances at December 31, 2021 | $(22.5) | $(130.2) | $(152.7) |
| Other comprehensive income (loss) before reclassifications | 0.0 | (6.5) | (6.5) |
| Amounts reclassified from AOCI | 1.5 | 3.0 | 4.5 |
| Net OCI changes | 1.5 | (3.5) | (2.0) |
| AOCI Balances at December 31, 2022 | $(21.0) | $(133.7) | $(154.7) |
| Other comprehensive income (loss) before reclassifications | 0.0 | 4.2 | 4.2 |
| Amounts reclassified from AOCI | 1.6 | 5.1 | 6.7 |
| Net OCI changes | 1.6 | 9.3 | 10.9 |
| AOCI Balances at December 31, 2023 | $(19.4) | $(124.4) | $(143.8) |
| Other comprehensive income (loss) before reclassifications | 0.0 | 9.7 | 9.7 |
| Amounts reclassified from AOCI | 1.7 | 5.0 | 6.7 |
| Net OCI changes | 1.7 | 14.7 | 16.4 |
| AOCI Balances at December 31, 2024 | $(17.7) | $(109.7) | $(127.4) |
Amounts reclassified from AOCI to earnings are as follows:
| in millions | 2024 | 2023 | 2022 |
|---|---|---|---|
| Amortization of Accumulated Cash Flow Hedge Losses | |||
| Interest expense | $2.2 | $2.1 | $2.0 |
| Benefit from income taxes | (0.5) | (0.5) | (0.5) |
| Total | $1.7 | $1.6 | $1.5 |
| Amortization of Accumulated Benefit Plan Costs | |||
| Other nonoperating expense | $6.8 | $6.9 | $4.0 |
| Benefit from income taxes | (1.8) | (1.8) | (1.0) |
| Total | $5.0 | $5.1 | $3.0 |
| Total reclassifications from AOCI to earnings | $6.7 | $6.7 | $4.5 |
| Part II | 102 |
|---|
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