Tredegar (TG) 10-Q 9 May 24 2024 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2024	May 03, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	1-10258
Entity Registrant Name	Tredegar Corporation
Entity Incorporation, State or Country Code	VA
Entity Tax Identification Number	54-1497771
Entity Address, Address Line One	1100 Boulders Parkway
Entity Address, City or Town	Richmond,
Entity Address, State or Province	VA
Entity Address, Postal Zip Code	23225
City Area Code	(804)
Local Phone Number	330-1000
Title of 12(b) Security	Common stock, no par value
Trading Symbol	TG
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0000850429
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Document Period End Date	Mar. 31, 2024
Amendment Flag	false
Entity Common Stock, Shares Outstanding		34,484,893

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 3,493	$ 9,660
Restricted Cash	1,299	3,795
Accounts and other receivables, net	73,032	67,938
Income taxes recoverable	793	1,182
Inventories	86,822	82,037
Prepaid expenses and other	9,438	12,065
Total current assets	174,877	176,677
Property, plant and equipment, at cost	540,856	541,046
Less: accumulated depreciation	(362,884)	(357,591)
Net property, plant and equipment	177,972	183,455
Right-of-use leased assets	16,761	11,848
Identifiable intangible assets, net	9,364	9,851
Goodwill	35,717	35,717
Deferred Income Tax Assets, Net	24,320	25,034
Other assets	3,520	3,879
Total assets	442,531	446,461
Current liabilities:
Accounts payable	84,925	95,023
Accrued expenses	23,083	24,442
Lease liability, short-term	2,871	2,107
Short-Term Debt	128,330	126,322
Income taxes payable	225	1,210
Total current liabilities	239,434	249,104
Lease liability, long-term	15,318	10,942
Long-term debt	20,000	20,000
Pension and other postretirement benefit obligations, net	6,582	6,643
Other non-current liabilities	4,382	4,119
Total liabilities	285,716	290,808
Shareholders’ equity:
Common stock, no par value (authorized shares 150,000,000, issued and outstanding 34,533,870 shares at March 31, 2024 and 34,408,638 shares at December 31, 2023)	61,959	61,606
Common stock held in trust for savings restoration plan (118,543 shares at March 31, 2024 and 118,543 shares at December 31, 2023)	(2,233)	(2,233)
Foreign currency translation adjustment	(84,985)	(83,037)
Gain (loss) on derivative financial instruments	297	801
Pension and other postretirement benefit adjustments	512	539
Retained earnings	181,265	177,977
Total shareholders’ equity	156,815	155,653
Total liabilities and shareholders’ equity	$ 442,531	$ 446,461

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - shares	Mar. 31, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Common Stock, Shares Authorized	150,000,000
Common Stock, Shares, Issued	34,533,870	34,408,638
Common Stock, Shares, Outstanding	34,533,870	34,408,638
Common Stock, Shares Held in Employee Trust, Shares	118,543	118,543

Consolidated Statements Of Inco

Consolidated Statements Of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Revenues and other items:
Sales	$ 175,736	$ 191,122
Other income (expense), net	8	280
Total revenues, net of other expenses	175,744	191,402
Costs and expenses:
Selling, general and administrative	18,258	19,006
Research and development	352	1,205
Amortization of identifiable intangibles	464	503
Accrued pension and post-retirement benefits	54	3,418
Interest expense	3,455	2,311
Asset impairments and costs associated with exit and disposal activities, net of adjustments	507	69
Pension settlement loss		92,300
Total	171,799	192,080
Income (loss) before income taxes	3,945	(678)
Income tax expense (benefit)	657	331
Net Income (Loss) Attributable to Parent, Total	$ 3,288	$ (1,009)
Earnings (loss) per share:
Basic (in dollars per share)	$ 0.10	$ (0.03)
Diluted (in dollars per share)	$ 0.10	$ (0.03)
Shares used to compute earnings (loss) per share:
Basic (in shares)	34,323	33,895
Diluted (in shares)	34,323	33,895
Cost of goods sold
Costs and expenses:
Cost of Goods and Services Sold	$ 142,043	$ 159,525
Freight
Costs and expenses:
Cost of Goods and Services Sold	$ 6,666	$ 6,043

Consolidated Statements Of Comp

Consolidated Statements Of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Statement of Comprehensive Income [Abstract]
Net Income (Loss) Attributable to Parent	$ 3,288	$ (1,009)
Other Comprehensive Income (Loss), Net of Tax [Abstract]
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax	(1,948)	1,120
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax	(504)	1,269
Other Comprehensive (Income) Loss, Defined Benefit Plan, Reclassification Adjustment from AOCI, after Tax	(27)	2,287
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent, Total	(2,479)	4,676
Comprehensive Income (Loss), Net of Tax, Attributable to Parent, Total	$ 809	$ 3,667

Consolidated Statements Of Co_2

Consolidated Statements Of Comprehensive Income (Loss) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Statement of Comprehensive Income [Abstract]
Foreign currency translation adjustment, tax (benefit)	$ (221)	$ (436)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification, Tax	140	836
Amortization of prior service costs and net gains or losses, tax	$ 8	$ 637

Consolidated Statements Of Cash

Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Cash flows from operating activities:
Net Income (Loss) Attributable to Parent	$ 3,288	$ (1,009)
Adjustments for noncash items:
Depreciation	6,252	6,340
Amortization of identifiable intangibles	464	503
Reduction of right-of-use lease asset	610	551
Deferred income taxes	623	411
Accrued pension and post-retirement benefits	54	3,418
Pension settlement loss		92,300
Stock-based compensation expense	686	186
Gain on investment in kaléo	0	(262)
Changes in assets and liabilities:
Accounts and other receivables	(5,337)	(4,320)
Inventories	(5,481)	14,840
Income taxes recoverable/payable	(580)	(1,156)
Prepaid expenses and other	1,890	1,816
Accounts payable and accrued expenses	(10,306)	(28,977)
Lease liability	(689)	(558)
Pension and postretirement benefit plan contributions	(158)	(154)
Other, net	965	(737)
Net Cash Provided by (Used in) Operating Activities	(7,719)	(9,108)
Cash flows from investing activities:
Capital expenditures	(2,461)	(9,025)
Proceeds from Sale of Investment Projects	0	262
Net cash provided by (used in) investing activities	(2,378)	(8,763)
Cash flows from financing activities:
Borrowings	179,248	37,250
Debt principal payments	(177,240)	(19,250)
Dividends paid	0	(4,419)
Net cash provided by (used in) financing activities	2,008	13,581
Effect of exchange rate changes on cash	(574)	83
Increase (decrease) in cash, cash equivalents and restricted cash	(8,663)	(4,207)
Cash, cash equivalents, and restricted cash at beginning of period	13,455	19,232
Cash, cash equivalents, and restricted cash at end of period	4,792	15,025
Proceeds from Sale of Other Assets, Investing Activities	$ 83	$ 0

Consolidated Statements Of Shar

Consolidated Statements Of Shareholders' Equity - USD ($) $ in Thousands	Total	Common Stock [Member]	Retained Earnings [Member]	Trust For Saving Restoration Plan [Member]	AOCI Attributable to Parent [Member]
Beginning Balance at Dec. 31, 2022	$ 201,762	$ 58,824	$ 292,721	$ (2,188)	$ (147,595)
Net Income (Loss)	(1,009)		(1,009)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax	1,120				1,120
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax	1,269				1,269
Other Comprehensive (Income) Loss, Defined Benefit Plan, Reclassification Adjustment from AOCI, after Tax	2,287				2,287
Dividends, Common Stock, Cash	(4,419)		(4,419)
Share Based Compensation Expense, Value	853	853
Tredegar Common Stock Purchased by Trust for Savings Restoration Plan			15	(15)
Ending Balance at Mar. 31, 2023	201,609	59,423	287,308	(2,203)	(142,919)
Beginning Balance at Dec. 31, 2023	155,653	61,606	177,977	(2,233)	(81,697)
Net Income (Loss)	3,288		3,288
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax	(1,948)				(1,948)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax	(504)				(504)
Other Comprehensive (Income) Loss, Defined Benefit Plan, Reclassification Adjustment from AOCI, after Tax	(27)				(27)
Share Based Compensation Expense, Value	579	579
Ending Balance at Mar. 31, 2024	$ 156,815	$ 61,959	$ 181,265	$ (2,233)	$ (84,176)

Consolidated Statements Of Sh_2

Consolidated Statements Of Shareholders' Equity (Parenthetical)	3 Months Ended
	Mar. 31, 2023 $ / shares
Statement of Stockholders' Equity [Abstract]
Cash dividends declared, per share	$ 0.13

Basis Of Presentation

Basis Of Presentation	3 Months Ended
	Mar. 31, 2024
Basis Of Presentation [Abstract]
Basis Of Presentation	In the opinion of management, the accompanying condensed consolidated financial statements of Tredegar Corporation and its subsidiaries (“Tredegar,” “the Company,” “we,” “us” or “our”) contain all adjustments necessary to state fairly, in all material respects, Tredegar’s condensed consolidated financial position as of March 31, 2024, the condensed consolidated results of operations for the three months ended March 31, 2024 and 2023, the condensed consolidated cash flows for the three months ended March 31, 2024 and 2023, and the condensed consolidated changes in shareholders’ equity for the three months ended March 31, 2024 and 2023, in accordance with U.S. generally accepted accounting principles (“GAAP”). All such adjustments, unless otherwise detailed in the notes to the condensed consolidated financial statements, are deemed to be of a normal, recurring nature. The Company operates on a calendar fiscal year except for the Aluminum Extrusions segment, which operates on a 52/53-week fiscal year basis. As such, the fiscal first quarter for 2024 and 2023 for this segment references 13-week periods ended March 31, 2024 and March 26, 2023, respectively. The Company does not believe the impact of reporting the results of this segment as stated above is material to the consolidated financial results. The Company may fund or receive cash from the Aluminum Extrusions segment based on Aluminum Extrusion’s cash flows from operations during the intervening period from Aluminum Extrusion’s fiscal quarter end and the Company’s fiscal quarter end. The condensed consolidated financial statements as of December 31, 2023 that is included herein was derived from the audited consolidated financial statements provided in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 (“2023 Form 10-K”) but does not include all disclosures required by GAAP. These financial statements should be read in conjunction with the audited consolidated financial statements and related notes included in the 2023 Form 10-K. The results of operations for the three months ended March 31, 2024, are not necessarily indicative of the results to be expected for the full year. Sale of Flexible Packaging Films On September 1, 2023, the Company announced that it had entered into a definitive agreement to sell its Flexible Packaging Films business (also referred to as "Terphane") to Oben Group (the “Contingent Terphane Sale”). Completion of the sale is contingent upon the satisfaction of customary closing conditions, including the receipt of certain competition filing approvals by authorities in Brazil and Colombia. On October 27, 2023, the Company filed the requisite competition forms with the Administrative Council for Economic Defense (“CADE”) in Brazil. The regulatory review process is ongoing and in line with the Company’s expectations. CADE’s maximum deadline for completing its review is no later than November 18, 2024. The merger review regarding the transaction was cleared by the Colombian authority in early February 2024. Closure of PE Films Technical Center In August 2023, the Company adopted a plan to close the PE Films technical center in Richmond, VA and reduce its efforts to develop and sell films supporting the semiconductor market. Future research & development activities for PE Films will be performed at the production facility in Pottsville, PA. PE Films continues to have new business opportunities primarily relating to surface protection films that protect components of flat panel and flexible displays. All activities ceased at the PE Films technical center in Richmond, VA as of the end of the first quarter of 2024. The Company recognized expense incurred through March 31, 2024 associated with the exit activities of $0.2 million for building closure costs. In addition, the Company recognized a non-cash loss on the lease abandonment ($0.3 million). Supply Chain Financing As of March 31, 2024 and December 31, 2023, $8.8 million and $15.8 million, respectively, of the Company’s accounts payable were financed by participating suppliers through third-party financial institutions. Accounting standards not yet adopted

Accounts and Other Receivables

Accounts and Other Receivables	3 Months Ended
	Mar. 31, 2024
Receivables [Abstract]
Accounts and Other Receivables	As of March 31, 2024 and December 31, 2023, accounts and other receivables, net include the following: (In thousands) March 31, 2024 December 31, 2023 Customer receivables $ 73,333 $ 67,183 Other receivables 1,754 3,056 Total accounts and other receivables 75,087 70,239 Less: Allowance for bad debts (2,055) (2,301) Total accounts and other receivables, net $ 73,032 $ 67,938

Inventories

Inventories	3 Months Ended
	Mar. 31, 2024
Inventory, Net [Abstract]
Inventories	The components of inventories are as follows: (In thousands) March 31, 2024 December 31, 2023 Finished goods $ 28,939 $ 29,821 Work-in-process 9,835 7,830 Raw materials 25,182 21,939 Stores, supplies and other 22,866 22,447 Total $ 86,822 $ 82,037

Pension And Other Post-Retireme

Pension And Other Post-Retirement Benefits	3 Months Ended
	Mar. 31, 2024
Retirement Benefits [Abstract]
Pension And Other Post-Retirement Benefits	Tredegar sponsored a noncontributory defined benefit (pension) plan covering certain current and former U.S. employees. As of January 31, 2018, the plan no longer accrued benefits associated with crediting employees for service, thereby freezing all future benefits under the plan. On February 10, 2022, Tredegar announced the initiation of a process to terminate and settle its frozen defined benefit pension plan through lump sum distributions and the purchase of annuity contracts. On November 3, 2023, the pension plan termination and settlement process for the Company was completed, and the remaining pension plan obligation was transferred to Massachusetts Mutual Life Insurance Company. During 2023, the Company recognized a pre-tax pension settlement loss of $92.3 million. Tredegar also has a non-qualified supplemental pension plan covering certain employees. Effective December 31, 2005, further participation in this plan was terminated and benefit accruals for existing participants were frozen. Pension expense recognized for this plan was immaterial in the three months ended March 31, 2024 and 2023. This information has been included in the pension benefit table below. The components of net periodic benefit cost for the pension and other postretirement benefit programs reflected in the condensed consolidated statements of income for the three months ended March 31, 2024 and 2023, are shown below: Pension Benefits Other Post-Retirement Benefits Three Months Ended March 31, Three Months Ended March 31, (In thousands) 2024 2023 2024 2023 Service cost $ — $ — $ 3 $ 3 Interest cost 19 3,027 67 71 Expected return on plan assets — (2,607) — — Amortization of prior service costs, (gains) losses and net transition asset 5 2,983 (40) (59) Net periodic benefit cost $ 24 $ 3,403 $ 30 $ 15 Pension and other postretirement liabilities were $7.2 million and $7.3 million at March 31, 2024 and December 31, 2023, respectively ($0.6 million and $0.7 million included in “Accrued expenses” at March 31, 2024 and December 31, 2023, respectively, with the remainder included in “Pension and other postretirement benefit obligations, net” in the condensed consolidated balance sheets). Tredegar funds its other postretirement benefits on a claims-made basis; for 2024, the Company anticipates the amount will be consistent with amounts paid for the year ended December 31, 2023, or approximately $0.4 million.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2024
Earnings Per Share [Abstract]
Earnings Per Share	Basic earnings per share is computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding. Diluted earnings per share is computed by dividing net income (loss) by the weighted average common and potentially dilutive common equivalent shares outstanding, determined as follows: Three Months Ended March 31, (In thousands) 2024 2023 Weighted average shares outstanding used to compute basic earnings per share 34,323 33,895 Incremental dilutive shares attributable to stock options and restricted stock — — Shares used to compute diluted earnings per share 34,323 33,895

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	3 Months Ended
	Mar. 31, 2023
Other Comprehensive Income (Loss), Net of Tax [Abstract]
Comprehensive Income (Loss) Note [Text Block]	The changes in accumulated other comprehensive income (loss) by component for the three months ended March 31, 2024. (In thousands) Foreign Currency Translation Gain (Loss) on Derivative Financial Instruments Pension & Other Postretirement Benefit Adjust Total Accumulated Other Comprehensive Income (Loss) Balance at January 1, 2024 $ (83,037) $ 801 $ 539 $ (81,697) Other comprehensive income (loss) (1,727) 282 — (1,445) Income tax (expense) benefit (221) (112) — (333) Other comprehensive income (loss), net of tax (1,948) 170 — (1,778) Reclassification adjustment to net income (loss) — (927) (35) (962) Income tax (expense) benefit — 253 8 261 Reclassification adjustment to net income (loss), net of tax — (674) (27) (701) Other comprehensive income (loss), net of tax (1,948) (504) (27) (2,479) Balance at March 31, 2024 $ (84,985) $ 297 $ 512 $ (84,176) The changes in accumulated other comprehensive income (loss) by component for the three months ended March 31, 2023. (In thousands) Foreign Currency Translation Gain (Loss) on Derivative Financial Instruments Pension & Other Postretirement Benefit Adjust Total Accumulated Other Comprehensive Income (Loss) Balance at January 1, 2023 $ (86,079) $ (2,480) $ (59,036) $ (147,595) Other comprehensive income (loss) 1,557 3,078 — 4,635 Income tax (expense) benefit (437) (1,087) — (1,524) Other comprehensive income (loss), net of tax 1,120 1,991 — 3,111 Reclassification adjustment to net income (loss) — (973) 2,924 1,951 Income tax (expense) benefit — 251 (637) (386) Reclassification adjustment to net income (loss), net of tax — (722) 2,287 1,565 Other comprehensive income (loss), net of tax 1,120 1,269 2,287 4,676 Balance at March 31, 2023 $ (84,959) $ (1,211) $ (56,749) $ (142,919)

Derivative Financial Instrument

Derivative Financial Instruments	3 Months Ended
	Mar. 31, 2024
Summary of Derivative Instruments [Abstract]
Derivative Financial Instruments	Tredegar uses derivative financial instruments for the purpose of hedging margin exposure from fixed-price forward sales contracts in Aluminum Extrusions and exposure from currency volatility that exists as part of ongoing business operations in Flexible Packaging Films. These derivative financial instruments are designated as and qualify as cash flow hedges and are recognized in the condensed consolidated balance sheet at fair value. If individual derivative instruments with the same counterparty can be settled on a net basis, the Company records the corresponding derivative fair values as a net asset or net liability. In the normal course of business, Aluminum Extrusions enters into fixed-price forward sales contracts with a small subset of its customers for the future sale of fixed quantities of aluminum extrusions at scheduled intervals. In order to hedge margin exposure created from the fixing of future sales prices relative to volatile raw material (aluminum) costs, Aluminum Extrusions enters into a combination of forward purchase commitments and futures contracts to acquire or hedge aluminum, based on the scheduled purchases for the firm sales commitments. The fixed-price firm sales commitments and related hedging instruments have durations generally no longer than 12 months. The notional amount of aluminum futures contracts that hedged future purchases of aluminum to meet fixed-price forward sales contract obligations was $6.8 million (5.1 million pounds of aluminum) at March 31, 2024 and $7.7 million (5.6 million pounds of aluminum) at December 31, 2023. The table below summarizes the location and gross amounts of aluminum futures contract fair values (Level 2) in the condensed consolidated balance sheets as of March 31, 2024 and December 31, 2023: March 31, 2024 December 31, 2023 (In thousands) Balance Sheet Fair Balance Sheet Fair Derivatives Designated as Hedging Instruments Asset derivatives: Aluminum futures contracts Other assets 28 Other assets — Liability derivatives: Aluminum futures contracts Accrued expenses (318) Accrued expenses (483) Aluminum futures contracts Other non-current liabilities — Other non-current liabilities (9) Net asset (liability) $ (290) $ (492) In the event that a counterparty to an aluminum fixed-price forward sales contract chooses not to take delivery of its aluminum extrusions, the customer is contractually obligated to compensate Aluminum Extrusions for any losses on the related aluminum futures and/or forward contracts through the date of cancellation. The Company's earnings are exposed to foreign currency exchange risk primarily through the translation of the financial statements of subsidiaries that have a functional currency other than the U.S. Dollar. The Company estimates that the net mismatch translation exposure for the Flexible Packaging Film's business unit in Brazil (“Terphane Ltda.”) of its sales and raw materials quoted or priced in U.S. Dollars and its variable conversion, fixed conversion and sales, general and administrative costs (before depreciation and amortization) quoted or priced in Brazilian Real ("R$") will result in an annual net cost of R$139 million for the full year of 2024. Terphane Ltda. had the following outstanding foreign exchange average forward rate contracts to purchase Brazilian Real and sell U.S. Dollars as of March 31, 2024: USD Notional Amount (000s) Average Forward Rate Contracted on USD/BRL R$ Equivalent Amount (000s) Applicable Month Estimated % of Terphane Ltda. R$ Operating Cost Exposure Hedged $1,827 5.3373 R$9,751 Apr-24 84% $1,798 5.3588 R$9,635 May-24 83% $1,812 5.3708 R$9,732 Jun-24 84% $1,804 5.3848 R$9,714 Jul-24 84% $1,806 5.4014 R$9,755 Aug-24 84% $1,857 5.4107 R$10,048 Sep-24 87% $1,851 5.4225 R$10,037 Oct-24 87% $1,837 5.4403 R$9,994 Nov-24 86% $1,801 5.4580 R$9,830 Dec-24 85% $16,393 5.3984 R$88,496 84% These foreign currency exchange contracts have been designated and qualify as cash flow hedges of Terphane Ltda.’s forecasted sales to customers quoted or priced in U.S. Dollars over that period. By changing the currency risk associated with these U.S. Dollar sales, the derivatives have the effect of offsetting operating costs quoted or priced in Brazilian Real and decreasing the net exposure to Brazilian Real in the condensed consolidated statements of income. The table below summarizes the location and gross amounts of foreign currency forward contract fair values (Level 2) in the condensed consolidated balance sheets as of March 31, 2024 and December 31, 2023: March 31, 2024 December 31, 2023 (In thousands) Balance Sheet Fair Balance Sheet Fair Derivatives Designated as Hedging Instruments Asset derivatives: Foreign currency forward contracts Prepaid expenses and other $ 1,154 Prepaid expenses and other $ 2,050 Foreign currency forward contracts Other assets — Other assets 146 Liability derivatives: Foreign currency forward contracts Accrued expenses (6) Other non-current liabilities — Foreign currency forward contracts Other non-current liabilities (2) Other non-current liabilities — Net asset (liability) $ 1,146 $ 2,196 These derivative contracts involve elements of market risk that are not reflected on the condensed consolidated balance sheet, including the risk of dealing with counterparties and their ability to meet the terms of the contracts. The counterparties to any forward purchase commitments are major aluminum brokers and suppliers, and the counterparties to any aluminum futures contracts are major financial institutions. Fixed-price forward sales contracts are only made available to the most credit-worthy customers. The counterparties to the Company’s foreign currency cash flow hedge contracts are major financial institutions. The pre-tax effect on net income (loss) and other comprehensive income (loss) of derivative instruments classified as cash flow hedges and described in the previous paragraphs for the three month periods ended March 31, 2024 and 2023 is summarized in the table below: Cash Flow Derivative Hedges Three Months Ended March 31, Aluminum Futures Contracts Foreign Currency Forwards (In thousands) 2024 2023 2024 2023 Amount of pre-tax gain (loss) recognized in other comprehensive income (loss) $ 721 $ 1,402 $ — $ (439) $ — $ 1,676 Location of gain (loss) reclassified from accumulated other comprehensive income (loss) into net income (effective portion) Cost of goods sold Cost of goods sold Cost of goods sold Selling, general & admin Cost of goods sold Selling, general & admin Amount of pre-tax gain (loss) reclassified from accumulated other comprehensive income (loss) to net income (effective portion) $ 519 $ 672 $ 15 $ 393 $ 15 $ 286 As of March 31, 2024, the Company expects $0.4 million of unrealized after-tax gains on aluminum and foreign currency derivative instruments reported in accumulated other comprehensive income (loss) to be reclassified to earnings within the next 12 months. For the three month periods ended March 31, 2024 and 2023, net gains or losses realized, from previously unrealized net gains or losses on hedges that had been discontinued, were not material.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Tredegar recorded tax expense (benefit) of $0.7 million on pre-tax income (loss) of $3.9 million in the first three months of 2024. The effective tax rate in the first three months of 2024 was 16.7% and (48.8)% in the first three months of 2023. The change in effective tax rate was primarily due to pre-tax income in the first quarter of 2024 versus a pre-tax loss in the first three months of 2023. The effective tax rate for the first three months of 2024 varies from the 21% statutory rate primarily due to foreign rate differences and non-deductible expenses offset by Brazilian tax incentives and federal tax credits. Brazil income tax was deemed deductible but not creditable in the U.S. in the first three months of 2023. As a result of guidance released by the U.S. Treasury and Internal Revenue Service ("IRS") in the fourth quarter of 2023, and new Brazil tax legislation effective January 1, 2024, Brazil income tax is deemed creditable in the U.S. for 2024.

Segment Reporting

Segment Reporting	3 Months Ended
	Mar. 31, 2024
Segment Reporting [Abstract]
Segment Reporting	The Company’s business segments are Aluminum Extrusions, PE Films, and Flexible Packaging Films. Information by business segment is reported below. There are no accounting transactions between segments and no allocations to segments. The Company’s reportable segments are based on its method of internal reporting, which is generally segregated by differences in products. Accounting standards for presentation of segments require an approach based on the way the Company organizes the segments for making operating decisions and how the CODM assesses performance. Earnings before interest, taxes, depreciation and amortization ("EBITDA") from ongoing operations is the key profitability measure used by the CODM (Tredegar’s President and Chief Executive Officer) for purposes of assessing financial performance. The Company uses sales less freight (“net sales”) as its measure of revenues from external customers at the segment level. This measure is separately included in the financial information regularly provided to the CODM. The following table presents net sales and EBITDA from ongoing operations by segment for the three months ended March 31, 2024 and 2023: Three Months Ended March 31, (In thousands) 2024 2023 Net Sales Aluminum Extrusions $ 114,222 $ 133,370 PE Films 24,735 20,182 Flexible Packaging Films 30,113 31,527 Total net sales 169,070 185,079 Add back freight 6,666 6,043 Sales as shown in the condensed consolidated statements of income (loss) $ 175,736 $ 191,122 EBITDA from Ongoing Operations Aluminum Extrusions: Ongoing operations: EBITDA $ 12,540 $ 14,638 Depreciation & amortization (4,542) (4,411) EBIT 7,998 10,227 Plant shutdowns, asset impairments, restructurings and other (1,167) (493) PE Films: Ongoing operations: EBITDA 6,904 1,849 Depreciation & amortization (1,329) (1,643) EBIT 5,575 206 Plant shutdowns, asset impairments, restructurings and other (504) 2 Flexible Packaging Films: Ongoing operations: EBITDA 1,963 1,350 Depreciation & amortization (751) (700) EBIT 1,212 650 Plant shutdowns, asset impairments, restructurings and other — (78) Total 13,114 10,514 Interest income 22 44 Interest expense 3,455 2,311 Gain on investment in kaleo, Inc. — 262 Stock option-based compensation costs — 231 Corporate expenses, net 5,736 8,956 Income (loss) before income taxes 3,945 (678) Income tax expense (benefit) 657 331 Net income (loss) $ 3,288 $ (1,009) The following table presents identifiable assets by segment at March 31, 2024 and December 31, 2023: (In thousands) March 31, 2024 December 31, 2023 Aluminum Extrusions $ 264,300 $ 255,756 PE Films 57,925 56,536 Flexible Packaging Films 81,290 84,062 Subtotal 403,515 396,354 General corporate 34,224 36,652 Cash, cash equivalents and restricted cash 4,792 13,455 Total $ 442,531 $ 446,461 The following tables disaggregate the Company’s revenue by geographic area and product group for the three months ended March 31, 2024 and 2023: Net Sales by Geographic Area (a) Three Months Ended March 31, (In thousands) 2024 2023 United States $ 132,627 $ 150,611 Exports from the United States to: Asia 8,825 5,732 Latin America 1,331 1,859 Canada 4,539 4,284 Europe 255 860 Operations outside the United States: Brazil 21,331 21,628 Asia 162 105 Total $ 169,070 $ 185,079 (a) Export sales relate mostly to PE Films. Operations in Brazil relate to Flexible Packaging Films. The Company’s facilities in Pottsville, PA (“PV”) and Guangzhou, China (“GZ”) have a tolling arrangement whereby certain surface protection films are manufactured in GZ for a fee with raw materials supplied from PV that are then shipped by GZ directly to customers principally in the Asian market, but paid by customers directly to PV. Amounts associated with this intercompany tolling arrangement are reported in the table above as export sales from the U.S. to Asia, and include net sales of $6.1 million and $3.4 million in the first quarter of 2024 and 2023, respectively. Net Sales by Product Group Three Months Ended March 31, (In thousands) 2024 2023 Aluminum Extrusions: Nonresidential building & construction $ 66,347 $ 78,629 Consumer durables 7,984 10,347 Automotive 10,606 12,122 Residential building & construction 7,902 11,603 Electrical 5,836 8,129 Machinery & equipment 12,195 10,724 Distribution 3,352 1,816 Subtotal 114,222 133,370 PE Films: Surface protection films 17,011 12,855 Overwrap packaging 7,724 7,327 Subtotal 24,735 20,182 Flexible Packaging Films 30,113 31,527 Total $ 169,070 $ 185,079

Debt (Notes)

Debt (Notes)	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
Debt Disclosure [Text Block]	66% of $125 million aggregate commitment 225.0 125.0 40.0 ≤ 66% but > 33% of $125 million aggregate commitment 250.0 150.0 40.0 ≤ 33% of $125 million aggregate commitment 275.0 175.0 40.0 * The Commitment Fee before the ABL Adjustment Date and after the ABL Adjustment Date remain the same as reflected in this table. Under the terms of the ABL Facility, certain domestic bank accounts are subject to blocked account agreements, each of which contains a springing feature whereby the lenders may exercise control over those accounts during a cash dominion period (any such period, a “Cash Dominion Period”). A Cash Dominion Period was implemented on the date of the closing of the ABL Facility and will remain in effect at all times prior to the ABL Adjustment Date. After the ABL Adjustment Date, a Cash Dominion Period goes into effect if availability under the ABL Facility falls below 12.5% or an Event of Default (as defined in the ABL Facility) occurs. The Company would then be subject to the Cash Dominion Period until the Event of Default is waived or ABL Facility availability is above 12.5% of the $125 million aggregate commitment for 30 consecutive days. Receipts that have not yet been applied to the ABL Facility are classified as restricted cash in the Company’s consolidated balance sheets. The financial covenants in the ABL Facility are as follows: • Until the ABL Adjustment Date, the Company is required to maintain (i) a minimum Credit EBITDA (as defined in the ABL Facility), as of the end of each fiscal month for the 12-month period then ended (presented below) and (ii) a Minimum Liquidity (as defined in the ABL Facility) of $10.0 million. Minimum Credit EBITDA (In thousands) March 2024 $ 16,640 April 2024 19,780 May 2024 19,660 June 2024 19,450 July 2024 21,860 August 2024 22,830 September 2024 25,370 October 2024 26,070 November 2024 27,640 December 2024 29,640 January 2025 29,740 February 2025 29,850 March 2025 29,980 April 2025 30,340 May 2025 30,700 June 2025 31,030 July 2025 31,370 August 2025 31,710 September 2025 $ 32,080 • Following the ABL Adjustment Date, the foregoing financial covenants will cease to exist and will be replaced with a minimum fixed charge coverage ratio of 1.00:1.00 that will be triggered in the event that availability is less than 10% of $125 million commitment amount and continuing thereafter until availability is greater than 10% of the $125 million commitment amount for 30 consecutive days. In addition to the financial covenants, the ABL Facility contains restrictive covenants, including covenants that restrict the Company’s ability to pay dividends and repurchase shares of its common stock. If at any time the availability under the ABL facility after the ABL Adjustment Date is less than 20% of the maximum aggregate principal amount in effect at such time or an Event of Default occurs, the Company’s current weekly reporting requirements to lenders will continue until the Event of Default is waived, cured or the availability under the ABL facility is above 20% of the maximum aggregate principal amount for 30 consecutive days. The ABL Facility has customary representations and warranties including, as a condition to each borrowing, that all such representations and warranties are true and correct in all material respects (including a representation that no Material Adverse Effect (as defined in the ABL Facility) has occurred since December 31, 2022). In the event that the Company cannot certify that all conditions to the borrowing have been met, the lenders can restrict the Company’s future borrowings under the ABL Facility. Because a Cash Dominion Period is currently in effect and the Company is required to represent that no Material Adverse Effect has occurred as a condition to borrowing, the outstanding debt under the ABL Facility (all contractual payments due on June 30, 2026) is classified as a current liability in the condensed consolidated balance sheets. In accordance with the ABL Facility, the lenders have been provided with the Company’s financial statements, covenant compliance certificates and projections to facilitate their ongoing assessment of the Company. Accordingly, the Company believes the likelihood that lenders would exercise the subjective acceleration clause whereby prohibiting future borrowings is remote. As of March 31, 2024, the Company was in compliance with all debt covenants. Terphane Brazil Loan On October 26, 2023, Flexible Packaging Film's business unit in Brazil (“Terphane Ltda.”), the Company’s wholly owned subsidiary in Brazil, borrowed $20 million secured by certain of its assets (“Terphane Brazil Loan”). This U.S. Dollar borrowing matures on October 30, 2028, with interest payable quarterly at an annual floating interest rate of the SOFR plus 5.99%. The SOFR rate was 5.31% as of March 31, 2024. Quarterly principal payments of $1.7 million begin starting in year 3 of the loan. There are no prepayment penalties. The Company expects that the Terphane Brazil Loan will be repaid (and collateral released) upon the closing of the Contingent Terphane Sale. On October 26, 2023, the Company borrowed $20 million from Terphane Ltda. (the “Intercompany Loan”) at the same interest rate as the Terphane Brazil Loan, thereby transferring the funds to the U.S. The Company will repay the Intercompany Loan in conjunction with the closing of the Contingent Terphane Sale." id="sjs-B4">ABL Facility On December 27, 2023, the Company entered into Amendment No. 3 (the “ABL Facility”) to the Second Amended and Restated Credit Agreement, which provides the Company with a $180 million senior secured asset-based revolving credit facility that will expire on June 30, 2026. On April 16, 2024, the Company entered into Amendment No. 4 (the "Amendment") that, among other items: (i) moves the ABL Adjustment Date (defined below) from March 31, 2025 to September 30, 2025 and (ii) requires weekly reporting of the borrowing base financial covenant. The ABL Facility is secured by substantially all assets of the Company and its domestic subsidiaries, including equity in certain material first-tier foreign subsidiaries. Availability for borrowings under the ABL Facility is governed by a borrowing base, determined by the application of specified advance rates against eligible assets, including a portion of trade accounts receivable, inventory, cash and cash equivalents, owned real properties, and owned machinery and equipment. Upon the earlier of September 30, 2025 or the date the Company receives the proceeds from the sale of Terphane (the “ABL Adjustment Date”), the $180 million ABL Facility will be reduced to $125 million. As of March 31, 2024, availability under the ABL Facility was $22.2 million, after reducing the borrowing base by the aggregate outstanding borrowings of $128.3 million, standby letters of credit of $13.1 million, and the Minimum Liquidity (as defined in the ABL Facility) financial covenant. Outstanding borrowings accrue interest at the rates elected by the Company depending on the type of loan and denomination of such borrowing. With respect to revolving loans denominated in U.S. Dollars, the Company may elect interest rates at: • Alternate Base Rate (“ABR”) plus 2.50% before the ABL Adjustment Date and the applicable ABR Spread (as defined in the ABL Facility) after the ABL Adjustment Date are determined in accordance with an excess availability-based pricing grid. ABR is defined, in part, as the greater of (a) the Prime Rate in effect on such day, (b) the Federal Reserve Bank of New York Rate in effect on such day plus ½ of 1% and (c) the Adjusted Term SOFR Rate (defined below) for a one-month period plus 1%; or • The Adjusted Term Secured Overnight Financing Rate ("SOFR") Rate plus 3.50% before the ABL Adjustment Date and the applicable Term Benchmark Spread (as defined in the ABL Facility) are determined in accordance with an excess availability-based pricing grid after the ABL Adjustment Date. Adjusted Term SOFR Rate is defined as the Term SOFR Rate plus 0.10%, subject to an initial Floor (as defined in the ABL Facility) of 0%. Interest rate indices for select non-U.S. dollar borrowings, including borrowings denominated in Euro, Pounds Sterling, Swiss Francs and Japanese Yen, remain consistent with the Second Amended and Restated Credit Agreement. Based upon the quarterly average of daily availability under the ABL Facility, the interest rate pricing grid applicable after the ABL Adjustment Date will be as follows: Pricing under the ABL Facility (Basis Points) Quarter Average of Daily Availability Term Benchmark ABR Commitment > 66% of $125 million aggregate commitment 225.0 125.0 40.0 ≤ 66% but > 33% of $125 million aggregate commitment 250.0 150.0 40.0 ≤ 33% of $125 million aggregate commitment 275.0 175.0 40.0 * The Commitment Fee before the ABL Adjustment Date and after the ABL Adjustment Date remain the same as reflected in this table. Under the terms of the ABL Facility, certain domestic bank accounts are subject to blocked account agreements, each of which contains a springing feature whereby the lenders may exercise control over those accounts during a cash dominion period (any such period, a “Cash Dominion Period”). A Cash Dominion Period was implemented on the date of the closing of the ABL Facility and will remain in effect at all times prior to the ABL Adjustment Date. After the ABL Adjustment Date, a Cash Dominion Period goes into effect if availability under the ABL Facility falls below 12.5% or an Event of Default (as defined in the ABL Facility) occurs. The Company would then be subject to the Cash Dominion Period until the Event of Default is waived or ABL Facility availability is above 12.5% of the $125 million aggregate commitment for 30 consecutive days. Receipts that have not yet been applied to the ABL Facility are classified as restricted cash in the Company’s consolidated balance sheets. The financial covenants in the ABL Facility are as follows: • Until the ABL Adjustment Date, the Company is required to maintain (i) a minimum Credit EBITDA (as defined in the ABL Facility), as of the end of each fiscal month for the 12-month period then ended (presented below) and (ii) a Minimum Liquidity (as defined in the ABL Facility) of $10.0 million. Minimum Credit EBITDA (In thousands) March 2024 $ 16,640 April 2024 19,780 May 2024 19,660 June 2024 19,450 July 2024 21,860 August 2024 22,830 September 2024 25,370 October 2024 26,070 November 2024 27,640 December 2024 29,640 January 2025 29,740 February 2025 29,850 March 2025 29,980 April 2025 30,340 May 2025 30,700 June 2025 31,030 July 2025 31,370 August 2025 31,710 September 2025 $ 32,080 • Following the ABL Adjustment Date, the foregoing financial covenants will cease to exist and will be replaced with a minimum fixed charge coverage ratio of 1.00:1.00 that will be triggered in the event that availability is less than 10% of $125 million commitment amount and continuing thereafter until availability is greater than 10% of the $125 million commitment amount for 30 consecutive days. In addition to the financial covenants, the ABL Facility contains restrictive covenants, including covenants that restrict the Company’s ability to pay dividends and repurchase shares of its common stock. If at any time the availability under the ABL facility after the ABL Adjustment Date is less than 20% of the maximum aggregate principal amount in effect at such time or an Event of Default occurs, the Company’s current weekly reporting requirements to lenders will continue until the Event of Default is waived, cured or the availability under the ABL facility is above 20% of the maximum aggregate principal amount for 30 consecutive days. The ABL Facility has customary representations and warranties including, as a condition to each borrowing, that all such representations and warranties are true and correct in all material respects (including a representation that no Material Adverse Effect (as defined in the ABL Facility) has occurred since December 31, 2022). In the event that the Company cannot certify that all conditions to the borrowing have been met, the lenders can restrict the Company’s future borrowings under the ABL Facility. Because a Cash Dominion Period is currently in effect and the Company is required to represent that no Material Adverse Effect has occurred as a condition to borrowing, the outstanding debt under the ABL Facility (all contractual payments due on June 30, 2026) is classified as a current liability in the condensed consolidated balance sheets. In accordance with the ABL Facility, the lenders have been provided with the Company’s financial statements, covenant compliance certificates and projections to facilitate their ongoing assessment of the Company. Accordingly, the Company believes the likelihood that lenders would exercise the subjective acceleration clause whereby prohibiting future borrowings is remote. As of March 31, 2024, the Company was in compliance with all debt covenants. Terphane Brazil Loan On October 26, 2023, Flexible Packaging Film's business unit in Brazil (“Terphane Ltda.”), the Company’s wholly owned subsidiary in Brazil, borrowed $20 million secured by certain of its assets (“Terphane Brazil Loan”). This U.S. Dollar borrowing matures on October 30, 2028, with interest payable quarterly at an annual floating interest rate of the SOFR plus 5.99%. The SOFR rate was 5.31% as of March 31, 2024. Quarterly principal payments of $1.7 million begin starting in year 3 of the loan. There are no prepayment penalties. The Company expects that the Terphane Brazil Loan will be repaid (and collateral released) upon the closing of the Contingent Terphane Sale. On October 26, 2023, the Company borrowed $20 million from Terphane Ltda. (the “Intercompany Loan”) at the same interest rate as the Terphane Brazil Loan, thereby transferring the funds to the U.S. The Company will repay the Intercompany Loan in conjunction with the closing of the Contingent Terphane Sale.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ 3,288	$ (1,009)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Mar. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Accounts and Other Receivables

Accounts and Other Receivables (Tables)	3 Months Ended
	Mar. 31, 2024
Receivables [Abstract]
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	As of March 31, 2024 and December 31, 2023, accounts and other receivables, net include the following: (In thousands) March 31, 2024 December 31, 2023 Customer receivables $ 73,333 $ 67,183 Other receivables 1,754 3,056 Total accounts and other receivables 75,087 70,239 Less: Allowance for bad debts (2,055) (2,301) Total accounts and other receivables, net $ 73,032 $ 67,938

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2024
Inventory, Net [Abstract]
Schedule of Inventory, Current	The components of inventories are as follows: (In thousands) March 31, 2024 December 31, 2023 Finished goods $ 28,939 $ 29,821 Work-in-process 9,835 7,830 Raw materials 25,182 21,939 Stores, supplies and other 22,866 22,447 Total $ 86,822 $ 82,037

Pension And Other Post-Retire_2

Pension And Other Post-Retirement Benefits (Tables)	3 Months Ended
	Mar. 31, 2024
Retirement Benefits [Abstract]
Schedule Of Components Of Net Periodic Benefit Cost For Pension And Other Post-Retirement Benefit Programs	The components of net periodic benefit cost for the pension and other postretirement benefit programs reflected in the condensed consolidated statements of income for the three months ended March 31, 2024 and 2023, are shown below: Pension Benefits Other Post-Retirement Benefits Three Months Ended March 31, Three Months Ended March 31, (In thousands) 2024 2023 2024 2023 Service cost $ — $ — $ 3 $ 3 Interest cost 19 3,027 67 71 Expected return on plan assets — (2,607) — — Amortization of prior service costs, (gains) losses and net transition asset 5 2,983 (40) (59) Net periodic benefit cost $ 24 $ 3,403 $ 30 $ 15

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2024
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	Diluted earnings per share is computed by dividing net income (loss) by the weighted average common and potentially dilutive common equivalent shares outstanding, determined as follows: Three Months Ended March 31, (In thousands) 2024 2023 Weighted average shares outstanding used to compute basic earnings per share 34,323 33,895 Incremental dilutive shares attributable to stock options and restricted stock — — Shares used to compute diluted earnings per share 34,323 33,895

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	3 Months Ended
	Mar. 31, 2023
Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule Of Reclassifications Of Balances Out Of Accumulated Other Comprehensive Income (Loss) Into Net Income	The changes in accumulated other comprehensive income (loss) by component for the three months ended March 31, 2023. (In thousands) Foreign Currency Translation Gain (Loss) on Derivative Financial Instruments Pension & Other Postretirement Benefit Adjust Total Accumulated Other Comprehensive Income (Loss) Balance at January 1, 2023 $ (86,079) $ (2,480) $ (59,036) $ (147,595) Other comprehensive income (loss) 1,557 3,078 — 4,635 Income tax (expense) benefit (437) (1,087) — (1,524) Other comprehensive income (loss), net of tax 1,120 1,991 — 3,111 Reclassification adjustment to net income (loss) — (973) 2,924 1,951 Income tax (expense) benefit — 251 (637) (386) Reclassification adjustment to net income (loss), net of tax — (722) 2,287 1,565 Other comprehensive income (loss), net of tax 1,120 1,269 2,287 4,676 Balance at March 31, 2023 $ (84,959) $ (1,211) $ (56,749) $ (142,919)

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2024
Summary of Derivative Instruments [Abstract]
Summary Of Location And Fair Value Of Derivative Financial Instruments	The table below summarizes the location and gross amounts of aluminum futures contract fair values (Level 2) in the condensed consolidated balance sheets as of March 31, 2024 and December 31, 2023: March 31, 2024 December 31, 2023 (In thousands) Balance Sheet Fair Balance Sheet Fair Derivatives Designated as Hedging Instruments Asset derivatives: Aluminum futures contracts Other assets 28 Other assets — Liability derivatives: Aluminum futures contracts Accrued expenses (318) Accrued expenses (483) Aluminum futures contracts Other non-current liabilities — Other non-current liabilities (9) Net asset (liability) $ (290) $ (492) The table below summarizes the location and gross amounts of foreign currency forward contract fair values (Level 2) in the condensed consolidated balance sheets as of March 31, 2024 and December 31, 2023: March 31, 2024 December 31, 2023 (In thousands) Balance Sheet Fair Balance Sheet Fair Derivatives Designated as Hedging Instruments Asset derivatives: Foreign currency forward contracts Prepaid expenses and other $ 1,154 Prepaid expenses and other $ 2,050 Foreign currency forward contracts Other assets — Other assets 146 Liability derivatives: Foreign currency forward contracts Accrued expenses (6) Other non-current liabilities — Foreign currency forward contracts Other non-current liabilities (2) Other non-current liabilities — Net asset (liability) $ 1,146 $ 2,196
Derivative, Description of Hedged Item	Terphane Ltda. had the following outstanding foreign exchange average forward rate contracts to purchase Brazilian Real and sell U.S. Dollars as of March 31, 2024: USD Notional Amount (000s) Average Forward Rate Contracted on USD/BRL R$ Equivalent Amount (000s) Applicable Month Estimated % of Terphane Ltda. R$ Operating Cost Exposure Hedged $1,827 5.3373 R$9,751 Apr-24 84% $1,798 5.3588 R$9,635 May-24 83% $1,812 5.3708 R$9,732 Jun-24 84% $1,804 5.3848 R$9,714 Jul-24 84% $1,806 5.4014 R$9,755 Aug-24 84% $1,857 5.4107 R$10,048 Sep-24 87% $1,851 5.4225 R$10,037 Oct-24 87% $1,837 5.4403 R$9,994 Nov-24 86% $1,801 5.4580 R$9,830 Dec-24 85% $16,393 5.3984 R$88,496 84%
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]	The table below summarizes the location and gross amounts of aluminum futures contract fair values (Level 2) in the condensed consolidated balance sheets as of March 31, 2024 and December 31, 2023: March 31, 2024 December 31, 2023 (In thousands) Balance Sheet Fair Balance Sheet Fair Derivatives Designated as Hedging Instruments Asset derivatives: Aluminum futures contracts Other assets 28 Other assets — Liability derivatives: Aluminum futures contracts Accrued expenses (318) Accrued expenses (483) Aluminum futures contracts Other non-current liabilities — Other non-current liabilities (9) Net asset (liability) $ (290) $ (492) The table below summarizes the location and gross amounts of foreign currency forward contract fair values (Level 2) in the condensed consolidated balance sheets as of March 31, 2024 and December 31, 2023: March 31, 2024 December 31, 2023 (In thousands) Balance Sheet Fair Balance Sheet Fair Derivatives Designated as Hedging Instruments Asset derivatives: Foreign currency forward contracts Prepaid expenses and other $ 1,154 Prepaid expenses and other $ 2,050 Foreign currency forward contracts Other assets — Other assets 146 Liability derivatives: Foreign currency forward contracts Accrued expenses (6) Other non-current liabilities — Foreign currency forward contracts Other non-current liabilities (2) Other non-current liabilities — Net asset (liability) $ 1,146 $ 2,196
Schedule Of Pretax Effect On Net Income (Loss) And Other Comprehensive Income (Loss) Of Derivative Instruments Classified As Cash Flow Hedges	The pre-tax effect on net income (loss) and other comprehensive income (loss) of derivative instruments classified as cash flow hedges and described in the previous paragraphs for the three month periods ended March 31, 2024 and 2023 is summarized in the table below: Cash Flow Derivative Hedges Three Months Ended March 31, Aluminum Futures Contracts Foreign Currency Forwards (In thousands) 2024 2023 2024 2023 Amount of pre-tax gain (loss) recognized in other comprehensive income (loss) $ 721 $ 1,402 $ — $ (439) $ — $ 1,676 Location of gain (loss) reclassified from accumulated other comprehensive income (loss) into net income (effective portion) Cost of goods sold Cost of goods sold Cost of goods sold Selling, general & admin Cost of goods sold Selling, general & admin Amount of pre-tax gain (loss) reclassified from accumulated other comprehensive income (loss) to net income (effective portion) $ 519 $ 672 $ 15 $ 393 $ 15 $ 286

Segment Reporting (Tables)

Segment Reporting (Tables)	3 Months Ended
	Mar. 31, 2024
Segment Reporting [Abstract]
Schedule Of Segment Reporting Information By Segment	The following table presents net sales and EBITDA from ongoing operations by segment for the three months ended March 31, 2024 and 2023: Three Months Ended March 31, (In thousands) 2024 2023 Net Sales Aluminum Extrusions $ 114,222 $ 133,370 PE Films 24,735 20,182 Flexible Packaging Films 30,113 31,527 Total net sales 169,070 185,079 Add back freight 6,666 6,043 Sales as shown in the condensed consolidated statements of income (loss) $ 175,736 $ 191,122 EBITDA from Ongoing Operations Aluminum Extrusions: Ongoing operations: EBITDA $ 12,540 $ 14,638 Depreciation & amortization (4,542) (4,411) EBIT 7,998 10,227 Plant shutdowns, asset impairments, restructurings and other (1,167) (493) PE Films: Ongoing operations: EBITDA 6,904 1,849 Depreciation & amortization (1,329) (1,643) EBIT 5,575 206 Plant shutdowns, asset impairments, restructurings and other (504) 2 Flexible Packaging Films: Ongoing operations: EBITDA 1,963 1,350 Depreciation & amortization (751) (700) EBIT 1,212 650 Plant shutdowns, asset impairments, restructurings and other — (78) Total 13,114 10,514 Interest income 22 44 Interest expense 3,455 2,311 Gain on investment in kaleo, Inc. — 262 Stock option-based compensation costs — 231 Corporate expenses, net 5,736 8,956 Income (loss) before income taxes 3,945 (678) Income tax expense (benefit) 657 331 Net income (loss) $ 3,288 $ (1,009)
Schedule Of Identifiable Assets By Segment	The following table presents identifiable assets by segment at March 31, 2024 and December 31, 2023: (In thousands) March 31, 2024 December 31, 2023 Aluminum Extrusions $ 264,300 $ 255,756 PE Films 57,925 56,536 Flexible Packaging Films 81,290 84,062 Subtotal 403,515 396,354 General corporate 34,224 36,652 Cash, cash equivalents and restricted cash 4,792 13,455 Total $ 442,531 $ 446,461
Disaggregation of Revenue [Table Text Block]	The following tables disaggregate the Company’s revenue by geographic area and product group for the three months ended March 31, 2024 and 2023: Net Sales by Geographic Area (a) Three Months Ended March 31, (In thousands) 2024 2023 United States $ 132,627 $ 150,611 Exports from the United States to: Asia 8,825 5,732 Latin America 1,331 1,859 Canada 4,539 4,284 Europe 255 860 Operations outside the United States: Brazil 21,331 21,628 Asia 162 105 Total $ 169,070 $ 185,079 (a) Export sales relate mostly to PE Films. Operations in Brazil relate to Flexible Packaging Films. The Company’s facilities in Pottsville, PA (“PV”) and Guangzhou, China (“GZ”) have a tolling arrangement whereby certain surface protection films are manufactured in GZ for a fee with raw materials supplied from PV that are then shipped by GZ directly to customers principally in the Asian market, but paid by customers directly to PV. Amounts associated with this intercompany tolling arrangement are reported in the table above as export sales from the U.S. to Asia, and include net sales of $6.1 million and $3.4 million in the first quarter of 2024 and 2023, respectively. Net Sales by Product Group Three Months Ended March 31, (In thousands) 2024 2023 Aluminum Extrusions: Nonresidential building & construction $ 66,347 $ 78,629 Consumer durables 7,984 10,347 Automotive 10,606 12,122 Residential building & construction 7,902 11,603 Electrical 5,836 8,129 Machinery & equipment 12,195 10,724 Distribution 3,352 1,816 Subtotal 114,222 133,370 PE Films: Surface protection films 17,011 12,855 Overwrap packaging 7,724 7,327 Subtotal 24,735 20,182 Flexible Packaging Films 30,113 31,527 Total $ 169,070 $ 185,079

Debt Pricing Under Credit Revol

Debt Pricing Under Credit Revolving Agreement Table (Tables)	3 Months Ended
	Mar. 31, 2024
Debt Disclosure - Pricing Table [Abstract]
Schedule Of Borrowings Under Credit Agreement At Various Indebtedness To Adjusted Ebitda Levels	Based upon the quarterly average of daily availability under the ABL Facility, the interest rate pricing grid applicable after the ABL Adjustment Date will be as follows: Pricing under the ABL Facility (Basis Points) Quarter Average of Daily Availability Term Benchmark ABR Commitment > 66% of $125 million aggregate commitment 225.0 125.0 40.0 ≤ 66% but > 33% of $125 million aggregate commitment 250.0 150.0 40.0 ≤ 33% of $125 million aggregate commitment 275.0 175.0 40.0 * The Commitment Fee before the ABL Adjustment Date and after the ABL Adjustment Date remain the same as reflected in this table.

Basis Of Presentation (Details)

Basis Of Presentation (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gain (Loss) on Termination of Lease	$ 0.3
Third-Party Financial Institutions
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts Payable	8.8	$ 15.8
Other Expense
Accounts, Notes, Loans and Financing Receivable [Line Items]
Business Exit Costs	$ 0.2

Accounts and Other Receivable_2

Accounts and Other Receivables (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Receivables [Abstract]
Accounts Receivable, before Allowance for Credit Loss, Current	$ 73,333	$ 67,183
Other Receivables, Gross, Current	1,754	3,056
Accounts Receivable, before Allowance for Credit Loss	75,087	70,239
Accounts Receivable, Allowance for Credit Loss	(2,055)	(2,301)
Accounts and other receivables, net	$ 73,032	$ 67,938

Inventories (Schedule Of Compon

Inventories (Schedule Of Components Of Inventories) (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Inventory, Net [Abstract]
Finished goods	$ 28,939	$ 29,821
Work-in-process	9,835	7,830
Raw materials	25,182	21,939
Stores, supplies and other	22,866	22,447
Inventories	$ 86,822	$ 82,037

Pension And Other Post-Retire_3

Pension And Other Post-Retirement Benefits (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Amounts for Asset (Liability) Recognized in Statement of Financial Position	$ 7.2		$ 7.3
Pension settlement loss		$ 92.3
Other Post-Retirement Benefits
Defined Benefit Plan Disclosure [Line Items]
Expected required contributions	0.4
Accrued Expenses [Member]
Defined Benefit Plan Disclosure [Line Items]
Liability, Defined Benefit Plan, Current	$ 0.6		$ 0.7

Pension And Other Post-Retire_4

Pension And Other Post-Retirement Benefits (Schedule Of Components Of Net Periodic Benefit Cost For Pension And Other Post-Retirement Benefit Programs) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Defined Benefit Plan Disclosure [Line Items]
Pension settlement loss		$ 92,300
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 0	0
Interest cost	19	3,027
Expected return on plan assets	0	(2,607)
Amortization of prior service costs, (gains) losses and net transition asset	5	2,983
Net periodic benefit cost	24	3,403
Other Post-Retirement Benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	3	3
Interest cost	67	71
Expected return on plan assets	0	0
Amortization of prior service costs, (gains) losses and net transition asset	(40)	(59)
Net periodic benefit cost	$ 30	$ 15

Earnings Per Share (Narrative)

Earnings Per Share (Narrative) (Details) - shares	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Earnings Per Share [Abstract]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	2,870,670	2,645,365

Earnings Per Share (Schedule Of

Earnings Per Share (Schedule Of Calculation Of Numerator And Denominator In Earnings Per Share) (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Earnings Per Share [Abstract]
Weighted average shares outstanding used to compute basic earnings per share	34,323	33,895
Incremental dilutive shares attributable to stock options and restricted stock	0	0
Shares used to compute diluted earnings per share	34,323	33,895

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) (Schedule Of Reclassifications Of Balances Out Of Accumulated Other Comprehensive Income (Loss) Into Net Income) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Beginning Balance	$ 155,653	$ 201,762
OCI, before Reclassifications, before Tax, Attributable to Parent	(1,445)	4,635
Other Comprehensive Income (Loss) before Reclassifications, Tax	(333)	(1,524)
OCI, before Reclassifications, Net of Tax, Attributable to Parent	(1,778)	3,111
Reclassification from AOCI, Current Period, before Tax, Attributable to Parent	(962)	1,951
Reclassification from AOCI, Current Period, Tax	261	(386)
Reclassification from AOCI, Current Period, Net of Tax, Attributable to Parent	(701)	1,565
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent, Total	(2,479)	4,676
Ending Balance	156,815	201,609
AOCI Attributable to Parent [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Beginning Balance	(81,697)	(147,595)
Ending Balance	(84,176)	(142,919)
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Beginning Balance	(83,037)	(86,079)
OCI, before Reclassifications, before Tax, Attributable to Parent	(1,727)	1,557
Other Comprehensive Income (Loss) before Reclassifications, Tax	(221)	(437)
OCI, before Reclassifications, Net of Tax, Attributable to Parent	(1,948)	1,120
Reclassification from AOCI, Current Period, before Tax, Attributable to Parent	0	0
Reclassification from AOCI, Current Period, Tax	0	0
Reclassification from AOCI, Current Period, Net of Tax, Attributable to Parent	0	0
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent, Total	(1,948)	1,120
Ending Balance	(84,985)	(84,959)
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Beginning Balance	801	(2,480)
OCI, before Reclassifications, before Tax, Attributable to Parent	282	3,078
Other Comprehensive Income (Loss) before Reclassifications, Tax	(112)	(1,087)
OCI, before Reclassifications, Net of Tax, Attributable to Parent	170	1,991
Reclassification from AOCI, Current Period, before Tax, Attributable to Parent	(927)	(973)
Reclassification from AOCI, Current Period, Tax	253	251
Reclassification from AOCI, Current Period, Net of Tax, Attributable to Parent	(674)	(722)
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent, Total	(504)	1,269
Ending Balance	297	(1,211)
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Beginning Balance	539	(59,036)
OCI, before Reclassifications, before Tax, Attributable to Parent	0	0
Other Comprehensive Income (Loss) before Reclassifications, Tax	0	0
OCI, before Reclassifications, Net of Tax, Attributable to Parent	0	0
Reclassification from AOCI, Current Period, before Tax, Attributable to Parent	(35)	2,924
Reclassification from AOCI, Current Period, Tax	8	(637)
Reclassification from AOCI, Current Period, Net of Tax, Attributable to Parent	(27)	2,287
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent, Total	(27)	2,287
Ending Balance	$ 512	$ (56,749)

Derivative Financial Instrume_3

Derivative Financial Instruments (Narrative) (Details) R$ in Thousands, $ in Thousands, lbs in Millions	3 Months Ended
	Mar. 31, 2024 USD ($) lbs	Mar. 31, 2024 BRL (R$)	Mar. 31, 2024 BRL (R$) lbs	Dec. 31, 2023 USD ($) lbs
Derivative [Line Items]
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months	$ 400
Aluminum Futures Contracts
Derivative [Line Items]
Derivative, Notional Amount	$ 6,800			$ 7,700
Commitment Under Cash Flow Hedges, Mass | lbs	5.1		5.1	5.6
Terphane Ltda [Member]
Derivative [Line Items]
Derivative, Notional Amount	$ 16,393		R$ 88496
Terphane Ltda [Member] | Oct-2018 [Member]
Derivative [Line Items]
Annual Net Costs Mismatch Translation Exposure - Real vs US Dollar | R$		R$ 139000

Derivative Financial Instrume_4

Derivative Financial Instruments (Summary Of Location And Fair Value Of Derivative Financial Instruments) (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset	$ 1,146	$ 2,196
Aluminum Futures Contracts
Derivatives, Fair Value [Line Items]
Derivative Assets (Liabilities), at Fair Value, Net	(290)	(492)
Derivatives Designated As Hedging Instruments [Member] | Accrued Expenses [Member]
Derivatives, Fair Value [Line Items]
Liability derivatives: Fair Value	6	0
Derivatives Designated As Hedging Instruments [Member] | Prepaid Expenses and Other Current Assets
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset	1,154	2,050
Derivatives Designated As Hedging Instruments [Member] | Other non-current liabilities
Derivatives, Fair Value [Line Items]
Liability derivatives: Fair Value	2	0
Derivatives Designated As Hedging Instruments [Member] | Other Noncurrent Assets
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset	0	146
Derivatives Designated As Hedging Instruments [Member] | Aluminum Futures Contracts | Accrued Expenses [Member]
Derivatives, Fair Value [Line Items]
Liability derivatives: Fair Value	(318)	(483)
Derivatives Designated As Hedging Instruments [Member] | Aluminum Futures Contracts | Other non-current liabilities
Derivatives, Fair Value [Line Items]
Liability derivatives: Fair Value	0	(9)
Derivatives Designated As Hedging Instruments [Member] | Aluminum Futures Contracts | Other Noncurrent Assets
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset	$ 28	$ 0

Derivative Financial Instrume_5

Derivative Financial Instruments Terphane Future Cash Flow Hedges (Details) - Terphane Ltda [Member] R$ in Thousands, $ in Thousands	Mar. 31, 2024 USD ($)	Mar. 31, 2024 BRL (R$)
Derivative [Line Items]
Derivative, Notional Amount	$ 16,393	R$ 88496
Foreign Currency Exchange Rate, Translation	5.3984	5.3984
Percentage of Coverage Using Cash Flow Hedges	84%	84%
Apr-24 [Member]
Derivative [Line Items]
Derivative, Notional Amount	$ 1,827	R$ 9751
Foreign Currency Exchange Rate, Translation	5.3373	5.3373
Percentage of Coverage Using Cash Flow Hedges	84%	84%
May-24 [Member]
Derivative [Line Items]
Derivative, Notional Amount	$ 1,798	R$ 9635
Foreign Currency Exchange Rate, Translation	5.3588	5.3588
Percentage of Coverage Using Cash Flow Hedges	83%	83%
Jun-24 [Member]
Derivative [Line Items]
Derivative, Notional Amount	$ 1,812	R$ 9732
Foreign Currency Exchange Rate, Translation	5.3708	5.3708
Percentage of Coverage Using Cash Flow Hedges	84%	84%
Jul-24 [Member]
Derivative [Line Items]
Derivative, Notional Amount	$ 1,804	R$ 9714
Foreign Currency Exchange Rate, Translation	5.3848	5.3848
Percentage of Coverage Using Cash Flow Hedges	84%	84%
Aug-24 [Member]
Derivative [Line Items]
Derivative, Notional Amount	$ 1,806	R$ 9755
Foreign Currency Exchange Rate, Translation	5.4014	5.4014
Percentage of Coverage Using Cash Flow Hedges	84%	84%
Sep-24 [Member]
Derivative [Line Items]
Derivative, Notional Amount	$ 1,857	R$ 10048
Foreign Currency Exchange Rate, Translation	5.4107	5.4107
Percentage of Coverage Using Cash Flow Hedges	87%	87%
Oct-24
Derivative [Line Items]
Derivative, Notional Amount	$ 1,851	R$ 10037
Foreign Currency Exchange Rate, Translation	5.4225	5.4225
Percentage of Coverage Using Cash Flow Hedges	87%	87%
Nov-24
Derivative [Line Items]
Derivative, Notional Amount	$ 1,837	R$ 9994
Foreign Currency Exchange Rate, Translation	5.4403	5.4403
Percentage of Coverage Using Cash Flow Hedges	86%	86%
Dec-24
Derivative [Line Items]
Derivative, Notional Amount	$ 1,801	R$ 9830
Foreign Currency Exchange Rate, Translation	5.4580	5.4580
Percentage of Coverage Using Cash Flow Hedges	85%	85%

Derivative Financial Instrume_6

Derivative Financial Instruments (Schedule Of Pretax Effect On Net Income (Loss) And Other Comprehensive Income (Loss) Of Derivative Instruments Classified As Cash Flow Hedges) (Details) - Cash Flow Hedging - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Aluminum Futures Contracts | Cost of goods sold
Derivative Instruments, Gain (Loss) [Line Items]
Amount of pre-tax gain (loss) recognized in other comprehensive income (loss)	$ 721	$ 1,402
Amount of pre-tax gain (loss) reclassified from accumulated other comprehensive income (loss) to net income (effective portion)	519	672
Foreign Currency Forwards | Cost of goods sold
Derivative Instruments, Gain (Loss) [Line Items]
Amount of pre-tax gain (loss) recognized in other comprehensive income (loss)	0	0
Amount of pre-tax gain (loss) reclassified from accumulated other comprehensive income (loss) to net income (effective portion)	15	15
Foreign Currency Forwards | Selling, general & admin
Derivative Instruments, Gain (Loss) [Line Items]
Amount of pre-tax gain (loss) recognized in other comprehensive income (loss)	(439)	1,676
Amount of pre-tax gain (loss) reclassified from accumulated other comprehensive income (loss) to net income (effective portion)	$ 393	$ 286

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Income Taxes [Line Items]
Income Tax Expense (Benefit)	$ 657	$ 331
Income (loss) before income taxes	$ 3,945	$ (678)
Effective Income Tax Rate Reconciliation, Percent	16.70%	(48.80%)
Terphane Ltda [Member]
Income Taxes [Line Items]
Current Effective Tax Rate Including Social Contribution On Income	15.25%
Brazilian
Income Taxes [Line Items]
Effective Income Tax Rate Reconciliation Federal Statutory Tax Rate Including Social Contribution On Income	34%
Effective Income Tax Rate Reconciliation Federal Statutory Tax Rate Excluding Social Contribution On Income	25%
Effective income tax rate reconciliation social contribution on income	9%

Segment Reporting (Schedule Of

Segment Reporting (Schedule Of Segment Reporting Information By Segment) (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended
	Jan. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Segment Reporting Information [Line Items]
Sales		$ 169,070	$ 185,079
Sales as shown in the condensed consolidated statements of income (loss)		175,736	191,122
Total Segment Income (Loss)		13,114	10,514
Interest income		22	44
Interest expense		3,455	2,311
Gain on investment in kaléo		0	(262)
Stock option-based compensation costs		0	231
Pension settlement loss			92,300
Corporate expenses, net		5,736	8,956
Income (loss) before income taxes		3,945	(678)
Income Tax Expense (Benefit)		657	331
Net Income (Loss)		3,288	(1,009)
kaleo [Member]
Segment Reporting Information [Line Items]
Gain on investment in kaléo	$ 0		262
Freight
Segment Reporting Information [Line Items]
Cost of Goods and Services Sold		6,666	6,043
Aluminum Extrusions [Member]
Segment Reporting Information [Line Items]
Sales		114,222	133,370
Earnings before interest, taxes, depreciation and amortization (EBITDA)		12,540	14,638
Depreciation, Depletion and Amortization		(4,542)	(4,411)
Earnings before interest and taxes (EBIT)		7,998	10,227
EBITDA		(1,167)	(493)
PE Films [Member]
Segment Reporting Information [Line Items]
Sales		24,735	20,182
Earnings before interest, taxes, depreciation and amortization (EBITDA)		6,904	1,849
Depreciation, Depletion and Amortization		(1,329)	(1,643)
Earnings before interest and taxes (EBIT)		5,575	206
EBITDA		(504)	2
Flexible Packaging Films [Member]
Segment Reporting Information [Line Items]
Earnings before interest, taxes, depreciation and amortization (EBITDA)		1,963	1,350
Depreciation, Depletion and Amortization		(751)	(700)
Earnings before interest and taxes (EBIT)		1,212	650
EBITDA		$ 0	$ (78)

Segment Reporting (Schedule O_2

Segment Reporting (Schedule Of Identifiable Assets By Segment) (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023	Dec. 31, 2022
Assets	$ 442,531	$ 446,461
Cash and cash equivalents	4,792	13,455	$ 15,025	$ 19,232
Operating Segments
Assets	442,531	446,461
Aluminum Extrusions [Member] | Operating Segments
Assets	264,300	255,756
PE Films [Member] | Operating Segments
Assets	57,925	56,536
Flexible Packaging Films [Member] | Operating Segments
Assets	81,290	84,062
Subtotal | Operating Segments
Assets	403,515	396,354
General Corporate | Operating Segments
Assets	$ 34,224	$ 36,652

Segment Reporting Schedule of R

Segment Reporting Schedule of Revenue by Geographic Location (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Disaggregation of Revenue [Line Items]
Sales	$ 169,070	$ 185,079
Aluminum Extrusions [Member]
Disaggregation of Revenue [Line Items]
Sales	114,222	133,370
Aluminum Extrusions [Member] | Nonresidential Building And Construction [Member]
Disaggregation of Revenue [Line Items]
Sales	66,347	78,629
Aluminum Extrusions [Member] | Consumer Durables [Member]
Disaggregation of Revenue [Line Items]
Sales	7,984	10,347
Aluminum Extrusions [Member] | Automotive [Member]
Disaggregation of Revenue [Line Items]
Sales	10,606	12,122
Aluminum Extrusions [Member] | Residential Building And Construction [Member]
Disaggregation of Revenue [Line Items]
Sales	7,902	11,603
Aluminum Extrusions [Member] | Electrical [Member]
Disaggregation of Revenue [Line Items]
Sales	5,836	8,129
Aluminum Extrusions [Member] | Machinery and Equipment BNL [Domain]
Disaggregation of Revenue [Line Items]
Sales	12,195	10,724
Aluminum Extrusions [Member] | Distribution [Member]
Disaggregation of Revenue [Line Items]
Sales	3,352	1,816
Aluminum Extrusions [Member] | Aluminum Extrusions Subtotal [Member]
Disaggregation of Revenue [Line Items]
Sales	114,222	133,370
PE Films [Member]
Disaggregation of Revenue [Line Items]
Sales	24,735	20,182
PE Films [Member] | Surface Protection Films [Member]
Disaggregation of Revenue [Line Items]
Sales	17,011	12,855
PE Films [Member] | Personal Care Materials
Disaggregation of Revenue [Line Items]
Sales	7,724	7,327
PE Films [Member] | Film Products Subtotal [Member]
Disaggregation of Revenue [Line Items]
Sales	24,735	20,182
Flexible Packaging Films [Member] [Domain]
Disaggregation of Revenue [Line Items]
Sales	30,113	31,527
UNITED STATES
Disaggregation of Revenue [Line Items]
Sales	132,627	150,611
Asia [Member] | Exports From United States [Member]
Disaggregation of Revenue [Line Items]
Sales	8,825	5,732
Revenues	6,100	3,400
Asia [Member] | Operations Outside United States [Member]
Disaggregation of Revenue [Line Items]
Sales	162	105
Latin America [Member] | Exports From United States [Member]
Disaggregation of Revenue [Line Items]
Sales	1,331	1,859
CANADA | Exports From United States [Member]
Disaggregation of Revenue [Line Items]
Sales	4,539	4,284
Europe [Member] | Exports From United States [Member]
Disaggregation of Revenue [Line Items]
Sales	255	860
Brazil | Operations Outside United States [Member]
Disaggregation of Revenue [Line Items]
Sales	$ 21,331	$ 21,628

Debt (Details)

Debt (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity		$ 180,000
Line of Credit, Maximum Borrowing Capacity after ABL Adjustment Date	$ 125,000
Line of Credit Facility, Remaining Borrowing Capacity	22,200
Short-Term Debt	128,330	$ 126,322
Letters of Credit Outstanding, Amount	$ 13,100
Debt Instrument, Basis Spread on Variable Rate	5.99%
Cash Dominion Availability after ABL Adjustment Date	0.125
Minimum Liquidity under ABL Facility	$ 10,000
Minimum Availability before ABL Adjustment Date	0.10
Debt Instrument, Interest Rate, Stated Percentage	5.31%
Debt Instrument, Periodic Payment, Principal	$ 1,700
Terphane Brazil Loan
Line of Credit Facility [Line Items]
Other Borrowings	20,000
Tredegar intercompany
Line of Credit Facility [Line Items]
Other Borrowings	20,000
Mar-24
Line of Credit Facility [Line Items]
Minimum EBITDA	16,640
Apr-24 [Member]
Line of Credit Facility [Line Items]
Minimum EBITDA	19,780
May-24 [Member]
Line of Credit Facility [Line Items]
Minimum EBITDA	19,660
Jun-24 [Member]
Line of Credit Facility [Line Items]
Minimum EBITDA	19,450
Jul-24 [Member]
Line of Credit Facility [Line Items]
Minimum EBITDA	21,860
Aug-24 [Member]
Line of Credit Facility [Line Items]
Minimum EBITDA	22,830
Sep-24 [Member]
Line of Credit Facility [Line Items]
Minimum EBITDA	25,370
Oct-24
Line of Credit Facility [Line Items]
Minimum EBITDA	26,070
Nov-24
Line of Credit Facility [Line Items]
Minimum EBITDA	27,640
Dec-24
Line of Credit Facility [Line Items]
Minimum EBITDA	29,640
Jan-25
Line of Credit Facility [Line Items]
Minimum EBITDA	29,740
Feb-25
Line of Credit Facility [Line Items]
Minimum EBITDA	29,850
Mar-25
Line of Credit Facility [Line Items]
Minimum EBITDA	29,980
Apr-23 [Member]
Line of Credit Facility [Line Items]
Minimum EBITDA	30,340
May-23 [Member]
Line of Credit Facility [Line Items]
Minimum EBITDA	30,700
Jun-23 [Member]
Line of Credit Facility [Line Items]
Minimum EBITDA	31,030
Jul-23 [Member]
Line of Credit Facility [Line Items]
Minimum EBITDA	31,370
Aug-23 [Member]
Line of Credit Facility [Line Items]
Minimum EBITDA	31,710
Sep-23 [Member]
Line of Credit Facility [Line Items]
Minimum EBITDA	$ 32,080
over 66% of $125 million aggregate commitment
Line of Credit Facility [Line Items]
Credit Spread Over London Interbank Offered Rate Basis Points	2.25%
Credit Spread over Alternate Base Rate Basis Points	0.01250
Commitment Fee on Credit Facility, basis points	0.00400
less than 66% but over 33% of $125 million aggregate commitment
Line of Credit Facility [Line Items]
Credit Spread Over London Interbank Offered Rate Basis Points	2.50%
Credit Spread over Alternate Base Rate Basis Points	0.01500
Commitment Fee on Credit Facility, basis points	0.00400
less than 33% of $125 million aggregate commitment
Line of Credit Facility [Line Items]
Credit Spread Over London Interbank Offered Rate Basis Points	2.75%
Credit Spread over Alternate Base Rate Basis Points	0.01750
Commitment Fee on Credit Facility, basis points	0.00400
Base Rate
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate	2.50%
Secured Overnight Financing Rate (SOFR)
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate	3.50%