COLUMBUS MCKINNON CORP
For the period ended Mar 31, 2026. Filed Jun 8, 2026.
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FY2026 · Filed Jun 8, 2026
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Accumulated Other Comprehensive Loss
- Accumulated Other Comprehensive Loss
The components of accumulated other comprehensive loss is as follows:
| March 31, | ||
|---|---|---|
| 2026 | 2025 | |
| Foreign currency translation adjustment – net of tax | $(21,599) | $(33,942) |
| Pension liability – net of tax | 14,442 | 12,661 |
| Postretirement obligations – net of tax | 1,527 | 1,573 |
| Split-dollar life insurance arrangements – net of tax | 502 | 526 |
| Derivatives qualifying as hedges – net of tax | (1,620) | (1,919) |
| Accumulated other comprehensive loss | $(6,748) | $(21,101) |
The deferred taxes related to the adjustments associated with the items included in accumulated other comprehensive loss, net of deferred tax asset valuation allowances, were $(478,758), $(6,530,121), and $636,000 for fiscal 2026, 2025, and 2024 respectively. Refer to Note 17 for discussion of the deferred tax asset valuation allowance. In the period subsequent to our initial recording of the valuation allowance in fiscal 2011, increases and decreases to both the deferred tax assets associated with items in accumulated other comprehensive loss, and the valuation allowance, have been recorded as offsets to comprehensive income.
As a result of the Tax Cuts and Jobs Act (the "TCJA"), the Company recorded as an offsetting entry a $(7,251,000) stranded tax effect in the minimum pension liability component and a $(194,000) stranded tax effect in the split dollar life insurance arrangement component of other comprehensive income in fiscal 2018. As a result of the pension termination in fiscal 2025, $(7,050,000) of the stranded tax effect was released from accumulated other comprehensive loss and recorded as a decrease of income taxes in the consolidated statement of operations in fiscal 2025. The resulting stranded tax effect of $201,000 relates to the Company's remaining plans. The stranded tax effect related to the other post retirement obligations component was not material.
As a result of the recording of a deferred tax asset valuation allowance in fiscal 2011, the Company recorded as an offsetting entry a $(7,251,000) stranded tax effect in the minimum pension liability component, $935,000 stranded tax effect in the other post retirement obligations component and a $747,000 stranded tax effect in the split dollar life insurance arrangement component of other comprehensive income. With the reversal of that valuation allowance in fiscal 2013, the Company recorded the reversal of the valuation allowance as a reduction of income taxes in the consolidated statement of operations. As a result of the pension termination in fiscal 2025, the stranded tax effect of $7,605,000 was released from accumulated other comprehensive loss and recorded as a decrease of income taxes in the consolidated statement of operations in fiscal 2025.
The stranded tax effects described above are in accordance with ASC 740, “Income Taxes” even though the impact of the TCJA and the deferred tax asset valuation allowance described above were initially established as an adjustment to comprehensive income. This amount will remain indefinitely as a component of accumulated other comprehensive loss.
Changes in accumulated other comprehensive income by component are as follows (in thousands):
| Retirement Obligations | Foreign Currency | Change in Derivatives Qualifying as Hedges | Total | |
|---|---|---|---|---|
| Beginning balance net of tax | $14,760 | $(33,942) | $(1,919) | (21,101) |
| Other comprehensive income (loss) before reclassification | 2,605 | 12,343 | (1,155) | 13,793 |
| Amounts reclassified from other comprehensive loss to net income | (894) | — | 1,454 | 560 |
| Net current period other comprehensive (loss) income | 1,711 | 12,343 | 299 | 14,353 |
| Ending balance net of tax | $16,471 | $(21,599) | $(1,620) | $(6,748) |
| March 31, 2025 | ||||
|---|---|---|---|---|
| Retirement Obligations | Foreign Currency | Change in Derivatives Qualifying as Hedges | Total | |
| Beginning balance net of tax | $(10,696) | $(32,785) | $3,804 | (39,677) |
| Other comprehensive income (loss) before reclassification | 7,274 | (1,157) | 2,243 | 8,360 |
| Amounts reclassified from other comprehensive loss to net income | 18,182 | — | (7,966) | 10,216 |
| Net current period other comprehensive (loss) income | 25,456 | (1,157) | (5,723) | 18,576 |
| Ending balance net of tax | $14,760 | $(33,942) | $(1,919) | $(21,101) |
Details of amounts reclassified out of accumulated other comprehensive loss for the year ended March 31, 2026 are as follows (in thousands):
| Details of AOCL Components · Amount reclassified from AOCL · Affected line item on consolidated statement of operations | |
|---|---|
| Net pension amount unrecognized | |
| $(1,205) | (1) |
| (1,205) | Total before tax |
| 311 | Tax benefit |
| $(894) | Net of tax |
| Change in derivatives qualifying as hedges | |
| $(173) | Cost of products sold |
| (1,114) | Interest expense |
| 3,217 | Foreign currency |
| 1,930 | Total before tax |
| (476) | Tax benefit |
| $1,454 | Net of tax |
(1)These accumulated other comprehensive loss components are included in the computation of net periodic pension cost. (See Note 13 for additional details.)
Details of amounts reclassified out of accumulated other comprehensive loss for the year ended March 31, 2025 are as follows (in thousands):
| Details of AOCL Components · Amount reclassified from AOCL · Affected line item on consolidated statement of operations | |
|---|---|
| Net pension amount unrecognized | |
| $24,118 | (1) |
| 24,118 | Total before tax |
| (5,936) | Tax benefit |
| $18,182 | Net of tax |
| Change in derivatives qualifying as hedges | |
| $36 | Cost of products sold |
| (10,717) | Interest expense |
| 20 | Foreign currency |
| (10,661) | Total before tax |
| 2,695 | Tax benefit |
| $(7,966) | Net of tax |
(1)These accumulated other comprehensive loss components are included in the computation of net periodic pension cost. (See Note 13 for additional details.)
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