Accumulated Other Comprehensive Loss

9 Months Ended

Sep. 30, 2020

13.Accumulated Other Comprehensive Loss

Accumulated other comprehensive loss is a separate line within the Condensed Consolidated Statements of Equity that reports our cumulative loss that has not been reported as part of net loss. The components of accumulated other comprehensive loss attributable to Covia at September 30, 2020 and December 31, 2019 were as follows:

	September 30, 2020
	Gross			Tax Effect		Net Amount
	(in thousands)
Foreign currency translation adjustments	$	(67,459	)	$	-	$	(67,459	)
Amounts related to employee benefit obligations		(50,738	)		14,748		(35,990	)
	$	(118,197	)	$	14,748	$	(103,449	)

	December 31, 2019
	Gross			Tax Effect		Net Amount
	(in thousands)
Foreign currency translation adjustments	$	(47,584	)	$	-	$	(47,584	)
Amounts related to employee benefit obligations		(54,650	)		14,882		(39,768	)
Unrealized gain (loss) on interest rate hedges		(22,500	)		4,766		(17,734	)
	$	(124,734	)	$	19,648	$	(105,086	)

The following table presents the changes in accumulated other comprehensive loss, net of taxes, by component for the nine months ended September 30, 2020:

	Nine Months Ended September 30, 2020
	Foreign currency translation adjustments			Amounts related to employee benefit obligations			Unrealized gain (loss) on interest rate hedges			Total
	(in thousands)
Beginning balance	$	(47,584	)	$	(39,768	)	$	(17,734	)	$	(105,086	)
Other comprehensive loss before reclassifications		(19,875	)		(1,325	)		(16,285	)		(37,485	)
Amounts reclassified from accumulated other comprehensive loss		-			5,103			34,019			39,122
Ending balance	$	(67,459	)	$	(35,990	)	$	-		$	(103,449	)

Covia Holdings Corp 10-Q