SunCoke Energy Inc
For the period ended Dec 31, 2024. Filed Feb 21, 2025.
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FY2024 · Filed Feb 21, 2025
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14. Accumulated Other Comprehensive Loss
- Accumulated Other Comprehensive Loss
The following tables set forth the changes in the balance of accumulated other comprehensive income (loss), net of tax, by component:
| Benefit Plans | Currency Translation Adjustments | Total | |
|---|---|---|---|
| (Dollars in millions) | |||
| At December 31, 2022 | $(3.4) | $(9.6) | $(13.0) |
| Other comprehensive income before reclassifications / adjustments | 0.1 | 0.5 | 0.6 |
| Retirement benefit plans funded status adjustment | (0.4) | — | (0.4) |
| Net current period change in accumulated other comprehensive income (loss) | (0.3) | 0.5 | 0.2 |
| At December 31, 2023 | $(3.7) | $(9.1) | $(12.8) |
| Other comprehensive income before reclassifications / adjustments | 0.2 | (1.5) | (1.3) |
| Retirement benefit plans funded status adjustment | 6.4 | — | 6.4 |
| Net current period change in accumulated other comprehensive income (loss) | 6.6 | (1.5) | 5.1 |
| At December 31, 2024 | $2.9 | $(10.6) | $(7.7) |
The Company recorded tax expense of $0.9 million and a taxbenefit of $1.0 million associated with the Company's benefit plans as of December 31, 2024 and 2023, respectively.
The decrease in net income due to reclassification adjustments from accumulated other comprehensive income (loss) were as follows(1):
| Years Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| (Dollars in millions) | |||
| Amortization of benefit plans to net income:(2) | |||
| Actuarial loss | $(0.4) | $(0.4) | $(0.7) |
| Prior service benefit | 0.1 | 0.2 | 0.2 |
| Total before taxes | (0.3) | (0.2) | (0.5) |
| Income tax | 0.1 | 0.1 | 0.1 |
| Total, net of tax | $(0.2) | $(0.1) | $(0.4) |
(1)Amounts in parentheses indicate a decrease to net income.
(2)These accumulated other comprehensive income (loss) components are included in the computation of postretirement benefit plan expense and included in interest expense, net on the Consolidated Statements of Income. See Note 9.
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