Axalta Coating Systems Ltd
For the period ended Mar 31, 2024. Filed May 1, 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.
Mar 31, 2024 · Filed May 1, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
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(18) ACCUMULATED OTHER COMPREHENSIVE LOSS
| UnrealizedCurrencyTranslationAdjustments | PensionAdjustments | UnrealizedGain (Loss) onDerivatives | AccumulatedOtherComprehensive (Loss) Income | |
|---|---|---|---|---|
| Balance, December 31, 2023 | $(374) | $(70) | $— | $(444) |
| Current year deferrals to AOCI | (41) | — | — | (41) |
| Reclassifications from AOCI to Net income | (4) | 1 | — | (3) |
| Net Change | (45) | 1 | — | (44) |
| Balance, March 31, 2024 | $(419) | $(69) | $— | $(488) |
The cumulative income tax expense related to the adjustments for foreign exchange at March 31, 2024 wasimmaterial. The cumulative income tax benefit related to the adjustments for pension benefits at March 31, 2024 was $29 million. The cumulative income tax expense related to the adjustments for the unrealized gain on derivatives at March 31, 2024 wasimmaterial. See Note 16 for classification within the condensed consolidated statements of operations of the gains and losses on derivatives reclassified from AOCI.
| UnrealizedCurrencyTranslationAdjustments | PensionAdjustments | Unrealized(Loss) Gain onDerivatives | AccumulatedOtherComprehensive(Loss) Income | |
|---|---|---|---|---|
| Balance, December 31, 2022 | $(434) | $(36) | $3 | $(467) |
| Current year deferrals to AOCI | 50 | — | 1 | 51 |
| Reclassifications from AOCI to Net income | (4) | — | (3) | (7) |
| Net Change | 46 | — | (2) | 44 |
| Balance, March 31, 2023 | $(388) | $(36) | $1 | $(423) |
The cumulative income tax benefit related to the adjustments for foreign exchange at March 31, 2023 was $1 million. The cumulative income tax benefit related to the adjustments for pension benefits at March 31, 2023 was $14 million. The cumulative income tax expense related to the adjustments for the unrealized gain on derivatives at March 31, 2023 wasimmaterial. See Note 16 for classification within the condensed consolidated statements of operations of the gains and losses on derivatives reclassified from AOCI.
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