Page 125 - Martin Marietta - 2023 Proxy Statement

NOTES TO FINANCIAL STATEMENTS (Continued)

The components of the changes in accumulated other comprehensive loss and related cumulative noncurrent deferred tax assets
are as follows:
Pension and
Postretirement Foreign
years ended December 31 Benefit Plans Currency Total
(in millions) 2022
Accumulated other comprehensive loss at beginning of period $ (97.6) $ — $ (97.6)
Other comprehensive earnings (loss) before
reclassifications, net of tax 51.6 (2.0) 49.6
Amounts reclassified from accumulated other
comprehensive loss, net of tax 9.5 — 9.5
Other comprehensive earnings (loss), net of tax 61.1 (2.0) 59.1
Accumulated other comprehensive loss at end of period $ (36.5) $ (2.0) $ (38.5)
Cumulative noncurrent deferred tax assets at end of period $ 50.1 $ — $ 50.1

2021
Accumulated other comprehensive loss at beginning of period $ (158.1) $ (0.3) $ (158.4)
Other comprehensive earnings before
reclassifications, net of tax 51.3 0.3 51.6
Amounts reclassified from accumulated other
comprehensive loss, net of tax 9.2 — 9.2
Other comprehensive earnings, net of tax 60.5 0.3 60.8
Accumulated other comprehensive loss at end of period $ (97.6) $ — $ (97.6)
Cumulative noncurrent deferred tax assets at end of period $ 69.7 $ — $ 69.7

2020
Accumulated other comprehensive loss at beginning of period $ (144.9) $ (0.9) $ (145.8)
Other comprehensive (loss) earnings before reclassifications,
net of tax (26.6) 0.6 (26.0)
Amounts reclassified from accumulated other
comprehensive loss, net of tax 13.4 — 13.4
Other comprehensive (loss) earnings, net of tax (13.2) 0.6 (12.6)
Accumulated other comprehensive loss at end of period $ (158.1) $ (0.3) $ (158.4)
Cumulative noncurrent deferred tax assets at end of period $ 89.4 $ — $ 89.4

Reclassifications out of accumulated other comprehensive loss are as follows:
Affected line items in the
years ended December 31 consolidated statements of
(in millions) 2022 2021 2020 earnings
Pension and postretirement benefit plans:
Settlement charge $ 4.6 $ — $ 3.7
Amortization of:
rior service cost (credit) 4.0 — (0.1)
Actuarial loss 3.7 12.1 14.3
12.3 12.1 17.9 Other nonoperating income, net
Tax effect (2.8) (2.9) (4.5) Income tax expense
Total $ 9.5 $ 9.2 $ 13.4

Annual Report ♦ Page 21