Tredegar (TG) 10-Q 7 Aug 24 2024 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2024	Aug. 02, 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	true
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	Q2
Document Period End Date	Jun. 30, 2024
Amendment Flag	false
Entity Common Stock, Shares Outstanding		34,510,556

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 3,510	$ 9,660
Restricted Cash	5,159	3,795
Accounts and other receivables, net	83,895	67,938
Income taxes recoverable	789	1,182
Inventories	89,242	82,037
Prepaid expenses and other	8,170	12,065
Total current assets	190,765	176,677
Property, plant and equipment, at cost	538,181	541,046
Less: accumulated depreciation	(366,336)	(357,591)
Net property, plant and equipment	171,845	183,455
Right-of-use leased assets	16,209	11,848
Identifiable intangible assets, net	8,811	9,851
Goodwill	35,717	35,717
Deferred Income Tax Assets, Net	23,600	25,034
Other assets	3,465	3,879
Total assets	450,412	446,461
Current liabilities:
Accounts payable	93,006	95,023
Accrued expenses	27,015	24,442
Lease liability, short-term	2,877	2,107
Short-Term Debt	122,000	126,322
Income taxes payable	257	1,210
Total current liabilities	245,155	249,104
Lease liability, long-term	14,610	10,942
Long-term debt	20,000	20,000
Pension and other postretirement benefit obligations, net	6,524	6,643
Other non-current liabilities	4,159	4,119
Total liabilities	290,448	290,808
Shareholders’ equity:
Common stock, no par value (authorized shares 150,000,000, issued and outstanding 34,484,893 shares at June 30, 2024 and 34,408,638 shares at December 31, 2023)	62,493	61,606
Common stock held in trust for savings restoration plan (118,543 shares at June 30, 2024 and December 31, 2023)	(2,233)	(2,233)
Foreign currency translation adjustment	(90,273)	(83,037)
Gain (loss) on derivative financial instruments	(564)	801
Pension and other postretirement benefit adjustments	484	539
Retained earnings	190,057	177,977
Total shareholders’ equity	159,964	155,653
Total liabilities and shareholders’ equity	$ 450,412	$ 446,461

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - shares	Jun. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Common Stock, Shares Authorized	150,000,000
Common Stock, Shares, Issued	34,484,893	34,408,638
Common Stock, Shares, Outstanding	34,484,893	34,408,638
Common Stock, Shares Held in Employee Trust, Shares	118,543

Consolidated Statements Of Inco

Consolidated Statements Of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenues and other items:
Sales	$ 190,235	$ 178,167	$ 365,971	$ 369,289
Other income (expense), net	323	(20)	331	260
Total revenues, net of other expenses	190,558	178,147	366,302	369,549
Costs and expenses:
Selling, general and administrative	19,887	16,889	38,144	35,894
Research and development	167	1,376	519	2,581
Amortization of identifiable intangibles	483	464	948	968
Accrued pension and post-retirement benefits	54	3,418	109	6,837
Interest expense	3,379	2,374	6,834	4,686
Asset impairments and costs associated with exit and disposal activities, net of adjustments	80	0	587	69
Goodwill, Impairment Loss	0	15,413	0	15,413
Total	179,798	200,400	351,597	392,483
Income (loss) before income taxes	10,760	(22,253)	14,705	(22,934)
Income tax expense (benefit)	1,968	(3,331)	2,625	(3,000)
Net Income (Loss) Attributable to Parent, Total	$ 8,792	$ (18,922)	$ 12,080	$ (19,934)
Earnings (loss) per share:
Basic (in dollars per share)	$ 0.26	$ (0.56)	$ 0.35	$ (0.59)
Diluted (in dollars per share)	$ 0.26	$ (0.56)	$ 0.35	$ (0.59)
Shares used to compute earnings (loss) per share:
Basic (in shares)	34,378	34,079	34,350	33,988
Diluted (in shares)	34,378	34,079	34,350	33,988
Cost of goods sold
Costs and expenses:
Cost of Goods and Services Sold	$ 148,666	$ 153,267	$ 290,708	$ 312,792
Freight
Costs and expenses:
Cost of Goods and Services Sold	$ 7,082	$ 7,199	$ 13,748	$ 13,243

Consolidated Statements Of Comp

Consolidated Statements Of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Net Income (Loss) Attributable to Parent	$ 8,792	$ (18,922)	$ 12,080	$ (19,934)
Other Comprehensive Income (Loss), Net of Tax [Abstract]
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax	(5,288)	1,621	(7,236)	2,741
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax	(861)	368	(1,365)	1,637
Other Comprehensive (Income) Loss, Defined Benefit Plan, Reclassification Adjustment from AOCI, after Tax	(28)	2,286	(55)	4,573
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent, Total	(6,177)	4,275	(8,656)	8,951
Comprehensive Income (Loss), Net of Tax, Attributable to Parent, Total	2,615	(14,647)	3,424	(10,983)
Retained Earnings [Member]
Net Income (Loss) Attributable to Parent	$ 8,792	$ (18,922)	$ 12,080	$ (19,934)

Consolidated Statements Of Co_2

Consolidated Statements Of Comprehensive Income (Loss) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of Comprehensive Income [Abstract]
Foreign currency translation adjustment, tax (benefit)	$ (691)	$ (179)	$ (470)	$ (615)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification, Tax	253	500	393	1,336
Amortization of prior service costs and net gains or losses, tax	$ 8	$ 637	$ 16	$ 1,274

Consolidated Statements Of Cash

Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities:
Net Income (Loss) Attributable to Parent	$ 12,080	$ (19,934)
Adjustments for noncash items:
Depreciation	12,357	12,387
Amortization of identifiable intangibles	948	968
Reduction of right-of-use lease asset	1,178	1,075
Goodwill, Impairment Loss	0	15,413
Deferred income taxes	2,248	(3,731)
Accrued pension and post-retirement benefits	109	6,837
Stock-based compensation expense	1,086	521
Gain on investment in kaléo	(144)	(262)
Changes in assets and liabilities:
Accounts and other receivables	(17,160)	6,190
Inventories	(10,357)	43,013
Income taxes recoverable/payable	(539)	(1,060)
Prepaid expenses and other	2,597	2,976
Accounts payable and accrued expenses	3,305	(39,629)
Lease liability	(1,408)	(1,095)
Pension and postretirement benefit plan contributions	(306)	(279)
Other, net	1,335	(692)
Net Cash Provided by (Used in) Operating Activities	7,329	22,698
Cash flows from investing activities:
Capital expenditures	(4,782)	(15,907)
Proceeds from Sale of Investment Projects	144	262
Net cash provided by (used in) investing activities	(4,555)	(15,645)
Cash flows from financing activities:
Borrowings	340,818	41,250
Debt principal payments	(345,140)	(37,250)
Dividends paid	0	(8,884)
Debt financing costs	(587)	0
Net cash provided by (used in) financing activities	(4,909)	(4,884)
Effect of exchange rate changes on cash	(2,651)	(208)
Increase (decrease) in cash, cash equivalents and restricted cash	(4,786)	1,961
Cash, cash equivalents, and restricted cash at beginning of period	13,455	19,232
Cash, cash equivalents, and restricted cash at end of period	8,669	21,193
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)	(19,934)		(19,934)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax	2,741				2,741
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax	1,637				1,637
Other Comprehensive (Income) Loss, Defined Benefit Plan, Reclassification Adjustment from AOCI, after Tax	4,573				4,573
Dividends, Common Stock, Cash	(8,884)		(8,884)
Share Based Compensation Expense, Value	1,508	1,508
Stock Issued During Period, Value, Stock Options Exercised	(254)	(254)
Tredegar Common Stock Purchased by Trust for Savings Restoration Plan			30	(30)
Ending Balance at Jun. 30, 2023	183,149	60,078	263,933	(2,218)	(138,644)
Beginning Balance at Mar. 31, 2023	201,609	59,423	287,308	(2,203)	(142,919)
Net Income (Loss)	(18,922)		(18,922)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax	1,621				1,621
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax	368				368
Other Comprehensive (Income) Loss, Defined Benefit Plan, Reclassification Adjustment from AOCI, after Tax	2,286				2,286
Dividends, Common Stock, Cash	(4,468)		(4,468)
Share Based Compensation Expense, Value	655	655
Tredegar Common Stock Purchased by Trust for Savings Restoration Plan			15	(15)
Ending Balance at Jun. 30, 2023	183,149	60,078	263,933	(2,218)	(138,644)
Beginning Balance at Dec. 31, 2023	155,653	61,606	177,977	(2,233)	(81,697)
Net Income (Loss)	12,080		12,080
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax	(7,236)				(7,236)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax	(1,365)				(1,365)
Other Comprehensive (Income) Loss, Defined Benefit Plan, Reclassification Adjustment from AOCI, after Tax	(55)				(55)
Share Based Compensation Expense, Value	1,113	1,113
Stock Issued During Period, Value, Stock Options Exercised	(226)	(226)
Ending Balance at Jun. 30, 2024	159,964	62,493	190,057	(2,233)	(90,353)
Beginning Balance at Mar. 31, 2024	156,815	61,959	181,265	(2,233)	(84,176)
Net Income (Loss)	8,792		8,792
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax	(5,288)				(5,288)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax	(861)				(861)
Other Comprehensive (Income) Loss, Defined Benefit Plan, Reclassification Adjustment from AOCI, after Tax	(28)				(28)
Share Based Compensation Expense, Value	534	534
Ending Balance at Jun. 30, 2024	$ 159,964	$ 62,493	$ 190,057	$ (2,233)	$ (90,353)

Consolidated Statements Of Sh_2

Consolidated Statements Of Shareholders' Equity (Parenthetical)	3 Months Ended
	Jun. 30, 2023 $ / shares
Statement of Stockholders' Equity [Abstract]
Cash dividends declared, per share	$ 0.26

Basis Of Presentation

Basis Of Presentation	6 Months Ended
	Jun. 30, 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 June 30, 2024, the condensed consolidated results of operations for the three and six months ended June 30, 2024 and 2023, the condensed consolidated cash flows for the six months ended June 30, 2024 and 2023, and the condensed consolidated changes in shareholders’ equity for the six months ended June 30, 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 second quarter for 2024 and 2023 for this segment references 13-week periods ended June 30, 2024 and June 25, 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 and six months ended June 30, 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. As part of the Brazilian merger review process regarding the sale of Terphane to Oben Group, on May 13, 2024, the General Superintendence of the Administrative Council for Economic Defense ("SG-CADE") issued a non-binding opinion ("SG Opinion") recommending the rejection of the transaction. Following this first stage of the two-stage Brazilian merger review process for complex transactions, the case has been submitted to the CADE Tribunal, in accordance with the customary Brazilian merger review process. The parties are given a full opportunity to present evidence in favor of clearing the transaction. The final decision regarding the transaction will eventually be rendered by the Tribunal, which has begun its independent analysis. CADE's maximum deadline for completing its review is no later than November 18, 2024. The Colombian authority cleared the merger review regarding the transaction 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 June 30, 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 June 30, 2024 and December 31, 2023, $6.8 million and $15.8 million, respectively, of the Company’s accounts payable were financed by participating suppliers through third-party financial institutions. Impairment of Goodwill The Company assesses goodwill for impairment when events or circumstances indicate that the carrying value may not be recoverable, or, at a minimum, on an annual basis (December 1st of each year). As of June 30, 2023, the Company’s reporting units with goodwill were Surface Protection in PE Films ("Surface Protection") and Futura in Aluminum Extrusions (“Futura”). No events or circumstances were identified during the second quarter of 2023 that indicated that Futura’s fair value was more likely than not less than its carrying amount. However, manufacturers in the supply chain for consumer electronics continue to experience reduced capacity utilization and inventory corrections. In light of the continued uncertainty about the timing of a recovery for this market and the expected adverse future impact to the Surface Protection business, the Company performed a Step 1 goodwill impairment analysis of the Surface Protection component of PE Films using projections that contemplate the expected market recovery and business conditions, as these events indicated Surface Protection’s fair value was more likely than not less than its carrying amount. The Company estimated the fair value of Surface Protection at June 30, 2023 by: (i) computing an estimated enterprise value (“EV”) utilizing the discounted cash flow method (the “DCF Method”), (ii) applying adjustments for any surplus or deficient working capital, (iii) adding cash and cash equivalents, and (iv) subtracting interest-bearing debt. The DCF Method was used since Surface Protection’s projections reflect the expected recovery from the weak market demand, competitive pricing and cash flows associated with new surface protection products, applications, customers, production efficiencies, and cost savings. The analysis concluded that the fair value of Surface Protection was less than its carrying value, thus a non-cash partial goodwill impairment of $15.4 million ($11.9 million after deferred income tax benefits) was recognized during the second quarter of 2023. No events or circumstances were identified during the second quarter of 2024 that indicate that Surface Protection's fair value is more likely than not less than its carrying amount. Accounting standards not yet adopted

Accounts and Other Receivables

Accounts and Other Receivables	6 Months Ended
	Jun. 30, 2024
Receivables [Abstract]
Accounts and Other Receivables	As of June 30, 2024 and December 31, 2023, accounts and other receivables, net include the following: (In thousands) June 30, 2024 December 31, 2023 Customer receivables $ 82,854 $ 67,183 Other receivables 2,401 3,056 Total accounts and other receivables 85,255 70,239 Less: Allowance for bad debts (1,360) (2,301) Total accounts and other receivables, net $ 83,895 $ 67,938

Inventories

Inventories	6 Months Ended
	Jun. 30, 2024
Inventory, Net [Abstract]
Inventories	The components of inventories are as follows: (In thousands) June 30, 2024 December 31, 2023 Finished goods $ 29,239 $ 29,821 Work-in-process 9,049 7,830 Raw materials 28,059 21,939 Stores, supplies and other 22,895 22,447 Total $ 89,242 $ 82,037

Pension And Other Post-Retireme

Pension And Other Post-Retirement Benefits	6 Months Ended
	Jun. 30, 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 and six months ended June 30, 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 and six months ended June 30, 2024 and 2023, are shown below: Pension Benefits Other Post-Retirement Benefits Three Months Ended June 30, Three Months Ended June 30, (In thousands) 2024 2023 2024 2023 Service cost $ — $ — $ 2 $ 3 Interest cost 19 3,028 69 71 Expected return on plan assets — (2,607) — — Amortization of prior service costs, (gains) losses and net transition asset 6 2,982 (42) (59) Net periodic benefit cost $ 25 $ 3,403 $ 29 $ 15 Pension Benefits Other Post-Retirement Benefits Six Months Ended June 30, Six Months Ended June 30, (In thousands) 2024 2023 2024 2023 Service cost $ — $ — $ 5 $ 6 Interest cost 38 6,056 137 142 Expected return on plan assets — (5,214) — — Amortization of prior service costs, (gains) losses and net transition asset 11 5,965 (82) (118) Net periodic benefit cost $ 49 $ 6,807 $ 60 $ 30 Pension and other postretirement liabilities were $7.2 million and $7.3 million at June 30, 2024 and December 31, 2023, respectively ($0.7 million included in “Accrued expenses” at June 30, 2024 and December 31, 2023 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	6 Months Ended
	Jun. 30, 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 June 30, Six Months Ended June 30, (In thousands) 2024 2023 2024 2023 Weighted average shares outstanding used to compute basic earnings per share 34,378 34,079 34,350 33,988 Incremental dilutive shares attributable to stock options and restricted stock — — — — Shares used to compute diluted earnings per share 34,378 34,079 34,350 33,988

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	6 Months Ended
	Jun. 30, 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 June 30, 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 April 1, 2024 $ (84,985) $ 297 $ 512 $ (84,176) Other comprehensive income (loss) (5,979) (1,981) — (7,960) Income tax (expense) benefit 691 430 — 1,121 Other comprehensive income (loss), net of tax (5,288) (1,551) — (6,839) Reclassification adjustment to net income (loss) — 866 (36) 830 Income tax (expense) benefit — (176) 8 (168) Reclassification adjustment to net income (loss), net of tax — 690 (28) 662 Other comprehensive income (loss), net of tax (5,288) (861) (28) (6,177) Balance at June 30, 2024 $ (90,273) $ (564) $ 484 $ (90,353) The changes in accumulated other comprehensive income (loss) by component for the six months ended June 30, 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) (7,706) (1,697) — (9,403) Income tax (expense) benefit 470 317 — 787 Other comprehensive income (loss), net of tax (7,236) (1,380) — (8,616) Reclassification adjustment to net income (loss) — (61) (71) (132) Income tax (expense) benefit — 76 16 92 Reclassification adjustment to net income (loss), net of tax — 15 (55) (40) Other comprehensive income (loss), net of tax (7,236) (1,365) (55) (8,656) Balance at June 30, 2024 $ (90,273) $ (564) $ 484 $ (90,353) The changes in accumulated other comprehensive income (loss) by component for the three months ended June 30, 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 April 1, 2023 $ (84,959) $ (1,211) $ (56,749) $ (142,919) Other comprehensive income (loss) 1,800 2,488 — 4,288 Income tax (expense) benefit (179) (945) — (1,124) Other comprehensive income (loss), net of tax 1,621 1,543 — 3,164 Reclassification adjustment to net income (loss) — (1,621) 2,923 1,302 Income tax (expense) benefit — 446 (637) (191) Reclassification adjustment to net income (loss), net of tax — (1,175) 2,286 1,111 Other comprehensive income (loss), net of tax 1,621 368 2,286 4,275 Balance at June 30, 2023 $ (83,338) $ (843) $ (54,463) $ (138,644) The changes in accumulated other comprehensive income (loss) by component for the six months ended June 30, 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) 3,356 5,565 — 8,921 Income tax (expense) benefit (615) (2,031) — (2,646) Other comprehensive income (loss), net of tax 2,741 3,534 — 6,275 Reclassification adjustment to net income (loss) — (2,594) 5,847 3,253 Income tax (expense) benefit — 697 (1,274) (577) Reclassification adjustment to net income (loss), net of tax — (1,897) 4,573 2,676 Other comprehensive income (loss), net of tax 2,741 1,637 4,573 8,951 Balance at June 30, 2023 $ (83,338) $ (843) $ (54,463) $ (138,644)

Derivative Financial Instrument

Derivative Financial Instruments	6 Months Ended
	Jun. 30, 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 $4.9 million (3.6 million pounds of aluminum) at June 30, 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 June 30, 2024 and December 31, 2023: June 30, 2024 December 31, 2023 (In thousands) Balance Sheet Fair Balance Sheet Fair Derivatives Designated as Hedging Instruments Asset derivatives: Aluminum futures contracts Prepaid expenses and other $ 283 Prepaid expenses and other $ — Liability derivatives: Aluminum futures contracts Accrued expenses (220) Accrued expenses (483) Aluminum futures contracts Other non-current liabilities — Other non-current liabilities (9) Net asset (liability) $ 63 $ (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$139 million for the full year of 2024. Terphane Ltda. had the following outstanding foreign exchange average forward rate contracts to purchase Brazilian Real and sell U.S. Dollars as of June 30, 2024: USD Notional Amount (000s) Average Forward Rate Contracted on USD/BRL R$ Equivalent Amount (000s) Applicable Month Estimated % of Terphane Ltda. R$ Operating Cost Exposure Hedged $1,804 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% $10,956 5.4197 R$59,378 85% 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 June 30, 2024 and December 31, 2023: June 30, 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 $ 248 Prepaid expenses and other $ 2,050 Foreign currency forward contracts Other assets — Other assets 146 Liability derivatives: Foreign currency forward contracts Accrued expenses (685) Other non-current liabilities — Net asset (liability) $ (437) $ 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 and six month periods ended June 30, 2024 and 2023 is summarized in the table below: Cash Flow Derivative Hedges Three Months Ended June 30, Aluminum Futures Contracts Foreign Currency Forwards (In thousands) 2024 2023 2024 2023 Amount of pre-tax gain (loss) recognized in other comprehensive income (loss) $ (675) $ 557 $ — $ (1,306) $ — $ 1,931 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) $ (1,028) $ 885 $ 15 $ 147 $ 15 $ 721 Six Months Ended June 30, Aluminum Futures Contracts Foreign Currency Forwards 2024 2023 2024 2023 Amount of pre-tax gain (loss) recognized in other comprehensive income (loss) $ 46 $ 1,959 $ — $ (1,743) $ — $ 3,606 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) $ (509) $ 1,157 $ 30 $ 540 $ 30 $ 1,007 As of June 30, 2024, the Company expects $0.2 million of unrealized after-tax losses 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 and six month periods ended June 30, 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	6 Months Ended
	Jun. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Tredegar recorded tax expense (benefit) of $2.6 million on pre-tax income (loss) of $14.7 million in the first six months of 2024. The effective tax rate in the first six months of 2024 was 17.9% and 13.1% in the first six months of 2023. The change in effective tax rate was primarily due to pre-tax income in the first six months of 2024 versus a pre-tax loss in the first six months of 2023. The effective tax rate for the first six 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 six 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	6 Months Ended
	Jun. 30, 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 and six months ended June 30, 2024 and 2023: Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2024 2023 2024 2023 Net Sales Aluminum Extrusions $ 119,413 $ 121,827 $ 233,636 $ 255,197 PE Films 29,197 15,918 53,932 36,099 Flexible Packaging Films 34,543 33,223 64,655 64,750 Total net sales 183,153 170,968 352,223 356,046 Add back freight 7,082 7,199 13,748 13,243 Sales as shown in the condensed consolidated statements of income (loss) $ 190,235 $ 178,167 $ 365,971 $ 369,289 EBITDA from Ongoing Operations Aluminum Extrusions: Ongoing operations: EBITDA $ 12,907 $ 10,217 $ 25,447 $ 24,855 Depreciation & amortization (4,446) (4,158) (8,988) (8,569) EBIT 8,461 6,059 16,459 16,286 Plant shutdowns, asset impairments, restructurings and other (1,649) 155 (2,816) (339) PE Films: Ongoing operations: EBITDA 10,133 814 17,037 2,663 Depreciation & amortization (1,317) (1,552) (2,645) (3,195) EBIT 8,816 (738) 14,392 (532) Plant shutdowns, asset impairments, restructurings and other (80) — (584) 2 Goodwill impairment — (15,413) — (15,413) Flexible Packaging Films: Ongoing operations: EBITDA 3,204 249 5,167 1,599 Depreciation & amortization (732) (711) (1,483) (1,411) EBIT 2,472 (462) 3,684 188 Plant shutdowns, asset impairments, restructurings and other — (1) — (79) Total 18,020 (10,400) 31,135 113 Interest income 7 30 28 74 Interest expense 3,379 2,374 6,834 4,686 Gain on investment in kaleo, Inc. 144 — 144 262 Stock option-based compensation costs — — — 231 Corporate expenses, net 4,032 9,509 9,768 18,466 Income (loss) before income taxes 10,760 (22,253) 14,705 (22,934) Income tax expense (benefit) 1,968 (3,331) 2,625 (3,000) Net income (loss) $ 8,792 $ (18,922) $ 12,080 $ (19,934) The following table presents identifiable assets by segment at June 30, 2024 and December 31, 2023: (In thousands) June 30, 2024 December 31, 2023 Aluminum Extrusions $ 269,068 $ 255,756 PE Films 59,541 56,536 Flexible Packaging Films 80,650 84,062 Subtotal 409,259 396,354 General corporate 32,484 36,652 Cash, cash equivalents and restricted cash 8,669 13,455 Total $ 450,412 $ 446,461 The following tables disaggregate the Company’s revenue by geographic area and product group for the three and six months ended June 30, 2024 and 2023: Net Sales by Geographic Area (a) Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2024 2023 2024 2023 United States $ 141,681 $ 133,417 $ 274,308 $ 284,027 Exports from the United States to: Asia 13,834 5,477 22,659 11,209 Latin America 1,395 1,817 2,726 3,676 Canada 2,483 4,955 7,022 9,239 Europe 393 272 648 1,132 Operations outside the United States: Brazil 23,263 24,975 44,594 46,603 Asia 104 55 266 160 Total $ 183,153 $ 170,968 $ 352,223 $ 356,046 (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 $6.7 million and $3.4 million in the second quarter of 2024 and 2023, respectively, and $12.8 million and $6.8 million in the first six months of 2024 and 2023, respectively. Net Sales by Product Group Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2024 2023 2024 2023 Aluminum Extrusions: Nonresidential building & construction $ 67,267 $ 65,784 $ 133,615 $ 144,413 Consumer durables 8,922 11,714 16,906 22,061 Automotive 10,127 11,769 20,733 23,891 Residential building & construction 9,883 10,056 17,785 21,659 Electrical 7,221 6,078 13,057 14,207 Machinery & equipment 12,669 11,082 24,864 21,806 Distribution 3,324 5,344 6,676 7,160 Subtotal 119,413 121,827 233,636 255,197 PE Films: Surface protection films 21,713 8,643 38,725 21,497 Overwrap packaging 7,484 7,275 15,207 14,602 Subtotal 29,197 15,918 53,932 36,099 Flexible Packaging Films 34,543 33,223 64,655 64,750 Total $ 183,153 $ 170,968 $ 352,223 $ 356,046

Debt (Notes)

Debt (Notes)	6 Months Ended
	Jun. 30, 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 of $10.0 million. Minimum Credit EBITDA (In thousands) 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 June 30, 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 5.35% as of June 30, 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. PE Films Guangzhou Loan" 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 mature 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 June 30, 2024, Minimum Liquidity (as defined in the ABL Facility) of $45.1 million, after reducing the borrowing base by the aggregate outstanding borrowings of $122.0 million and standby letters of credit of $12.9 million, was in excess of the $10 million Minimum Liquidity 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 of $10.0 million. Minimum Credit EBITDA (In thousands) 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 June 30, 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 5.35% as of June 30, 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. PE Films Guangzhou Loan

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ 8,792	$ (18,922)	$ 12,080	$ (19,934)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 30, 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)	6 Months Ended
	Jun. 30, 2024
Receivables [Abstract]
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	As of June 30, 2024 and December 31, 2023, accounts and other receivables, net include the following: (In thousands) June 30, 2024 December 31, 2023 Customer receivables $ 82,854 $ 67,183 Other receivables 2,401 3,056 Total accounts and other receivables 85,255 70,239 Less: Allowance for bad debts (1,360) (2,301) Total accounts and other receivables, net $ 83,895 $ 67,938

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2024
Inventory, Net [Abstract]
Schedule of Inventory, Current	The components of inventories are as follows: (In thousands) June 30, 2024 December 31, 2023 Finished goods $ 29,239 $ 29,821 Work-in-process 9,049 7,830 Raw materials 28,059 21,939 Stores, supplies and other 22,895 22,447 Total $ 89,242 $ 82,037

Pension And Other Post-Retire_2

Pension And Other Post-Retirement Benefits (Tables)	6 Months Ended
	Jun. 30, 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 and six months ended June 30, 2024 and 2023, are shown below: Pension Benefits Other Post-Retirement Benefits Three Months Ended June 30, Three Months Ended June 30, (In thousands) 2024 2023 2024 2023 Service cost $ — $ — $ 2 $ 3 Interest cost 19 3,028 69 71 Expected return on plan assets — (2,607) — — Amortization of prior service costs, (gains) losses and net transition asset 6 2,982 (42) (59) Net periodic benefit cost $ 25 $ 3,403 $ 29 $ 15 Pension Benefits Other Post-Retirement Benefits Six Months Ended June 30, Six Months Ended June 30, (In thousands) 2024 2023 2024 2023 Service cost $ — $ — $ 5 $ 6 Interest cost 38 6,056 137 142 Expected return on plan assets — (5,214) — — Amortization of prior service costs, (gains) losses and net transition asset 11 5,965 (82) (118) Net periodic benefit cost $ 49 $ 6,807 $ 60 $ 30

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 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 June 30, Six Months Ended June 30, (In thousands) 2024 2023 2024 2023 Weighted average shares outstanding used to compute basic earnings per share 34,378 34,079 34,350 33,988 Incremental dilutive shares attributable to stock options and restricted stock — — — — Shares used to compute diluted earnings per share 34,378 34,079 34,350 33,988

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	3 Months Ended
	Jun. 30, 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 June 30, 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 April 1, 2023 $ (84,959) $ (1,211) $ (56,749) $ (142,919) Other comprehensive income (loss) 1,800 2,488 — 4,288 Income tax (expense) benefit (179) (945) — (1,124) Other comprehensive income (loss), net of tax 1,621 1,543 — 3,164 Reclassification adjustment to net income (loss) — (1,621) 2,923 1,302 Income tax (expense) benefit — 446 (637) (191) Reclassification adjustment to net income (loss), net of tax — (1,175) 2,286 1,111 Other comprehensive income (loss), net of tax 1,621 368 2,286 4,275 Balance at June 30, 2023 $ (83,338) $ (843) $ (54,463) $ (138,644) The changes in accumulated other comprehensive income (loss) by component for the six months ended June 30, 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) 3,356 5,565 — 8,921 Income tax (expense) benefit (615) (2,031) — (2,646) Other comprehensive income (loss), net of tax 2,741 3,534 — 6,275 Reclassification adjustment to net income (loss) — (2,594) 5,847 3,253 Income tax (expense) benefit — 697 (1,274) (577) Reclassification adjustment to net income (loss), net of tax — (1,897) 4,573 2,676 Other comprehensive income (loss), net of tax 2,741 1,637 4,573 8,951 Balance at June 30, 2023 $ (83,338) $ (843) $ (54,463) $ (138,644)

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 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 June 30, 2024 and December 31, 2023: June 30, 2024 December 31, 2023 (In thousands) Balance Sheet Fair Balance Sheet Fair Derivatives Designated as Hedging Instruments Asset derivatives: Aluminum futures contracts Prepaid expenses and other $ 283 Prepaid expenses and other $ — Liability derivatives: Aluminum futures contracts Accrued expenses (220) Accrued expenses (483) Aluminum futures contracts Other non-current liabilities — Other non-current liabilities (9) Net asset (liability) $ 63 $ (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 June 30, 2024 and December 31, 2023: June 30, 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 $ 248 Prepaid expenses and other $ 2,050 Foreign currency forward contracts Other assets — Other assets 146 Liability derivatives: Foreign currency forward contracts Accrued expenses (685) Other non-current liabilities — Net asset (liability) $ (437) $ 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 June 30, 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 $1,804 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% $10,956 5.4197 R$59,378 85%
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 June 30, 2024 and December 31, 2023: June 30, 2024 December 31, 2023 (In thousands) Balance Sheet Fair Balance Sheet Fair Derivatives Designated as Hedging Instruments Asset derivatives: Aluminum futures contracts Prepaid expenses and other $ 283 Prepaid expenses and other $ — Liability derivatives: Aluminum futures contracts Accrued expenses (220) Accrued expenses (483) Aluminum futures contracts Other non-current liabilities — Other non-current liabilities (9) Net asset (liability) $ 63 $ (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 June 30, 2024 and December 31, 2023: June 30, 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 $ 248 Prepaid expenses and other $ 2,050 Foreign currency forward contracts Other assets — Other assets 146 Liability derivatives: Foreign currency forward contracts Accrued expenses (685) Other non-current liabilities — Net asset (liability) $ (437) $ 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 and six month periods ended June 30, 2024 and 2023 is summarized in the table below: Cash Flow Derivative Hedges Three Months Ended June 30, Aluminum Futures Contracts Foreign Currency Forwards (In thousands) 2024 2023 2024 2023 Amount of pre-tax gain (loss) recognized in other comprehensive income (loss) $ (675) $ 557 $ — $ (1,306) $ — $ 1,931 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) $ (1,028) $ 885 $ 15 $ 147 $ 15 $ 721 Six Months Ended June 30, Aluminum Futures Contracts Foreign Currency Forwards 2024 2023 2024 2023 Amount of pre-tax gain (loss) recognized in other comprehensive income (loss) $ 46 $ 1,959 $ — $ (1,743) $ — $ 3,606 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) $ (509) $ 1,157 $ 30 $ 540 $ 30 $ 1,007

Segment Reporting (Tables)

Segment Reporting (Tables)	6 Months Ended
	Jun. 30, 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 and six months ended June 30, 2024 and 2023: Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2024 2023 2024 2023 Net Sales Aluminum Extrusions $ 119,413 $ 121,827 $ 233,636 $ 255,197 PE Films 29,197 15,918 53,932 36,099 Flexible Packaging Films 34,543 33,223 64,655 64,750 Total net sales 183,153 170,968 352,223 356,046 Add back freight 7,082 7,199 13,748 13,243 Sales as shown in the condensed consolidated statements of income (loss) $ 190,235 $ 178,167 $ 365,971 $ 369,289 EBITDA from Ongoing Operations Aluminum Extrusions: Ongoing operations: EBITDA $ 12,907 $ 10,217 $ 25,447 $ 24,855 Depreciation & amortization (4,446) (4,158) (8,988) (8,569) EBIT 8,461 6,059 16,459 16,286 Plant shutdowns, asset impairments, restructurings and other (1,649) 155 (2,816) (339) PE Films: Ongoing operations: EBITDA 10,133 814 17,037 2,663 Depreciation & amortization (1,317) (1,552) (2,645) (3,195) EBIT 8,816 (738) 14,392 (532) Plant shutdowns, asset impairments, restructurings and other (80) — (584) 2 Goodwill impairment — (15,413) — (15,413) Flexible Packaging Films: Ongoing operations: EBITDA 3,204 249 5,167 1,599 Depreciation & amortization (732) (711) (1,483) (1,411) EBIT 2,472 (462) 3,684 188 Plant shutdowns, asset impairments, restructurings and other — (1) — (79) Total 18,020 (10,400) 31,135 113 Interest income 7 30 28 74 Interest expense 3,379 2,374 6,834 4,686 Gain on investment in kaleo, Inc. 144 — 144 262 Stock option-based compensation costs — — — 231 Corporate expenses, net 4,032 9,509 9,768 18,466 Income (loss) before income taxes 10,760 (22,253) 14,705 (22,934) Income tax expense (benefit) 1,968 (3,331) 2,625 (3,000) Net income (loss) $ 8,792 $ (18,922) $ 12,080 $ (19,934)
Schedule Of Identifiable Assets By Segment	The following table presents identifiable assets by segment at June 30, 2024 and December 31, 2023: (In thousands) June 30, 2024 December 31, 2023 Aluminum Extrusions $ 269,068 $ 255,756 PE Films 59,541 56,536 Flexible Packaging Films 80,650 84,062 Subtotal 409,259 396,354 General corporate 32,484 36,652 Cash, cash equivalents and restricted cash 8,669 13,455 Total $ 450,412 $ 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 and six months ended June 30, 2024 and 2023: Net Sales by Geographic Area (a) Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2024 2023 2024 2023 United States $ 141,681 $ 133,417 $ 274,308 $ 284,027 Exports from the United States to: Asia 13,834 5,477 22,659 11,209 Latin America 1,395 1,817 2,726 3,676 Canada 2,483 4,955 7,022 9,239 Europe 393 272 648 1,132 Operations outside the United States: Brazil 23,263 24,975 44,594 46,603 Asia 104 55 266 160 Total $ 183,153 $ 170,968 $ 352,223 $ 356,046 (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 $6.7 million and $3.4 million in the second quarter of 2024 and 2023, respectively, and $12.8 million and $6.8 million in the first six months of 2024 and 2023, respectively. Net Sales by Product Group Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2024 2023 2024 2023 Aluminum Extrusions: Nonresidential building & construction $ 67,267 $ 65,784 $ 133,615 $ 144,413 Consumer durables 8,922 11,714 16,906 22,061 Automotive 10,127 11,769 20,733 23,891 Residential building & construction 9,883 10,056 17,785 21,659 Electrical 7,221 6,078 13,057 14,207 Machinery & equipment 12,669 11,082 24,864 21,806 Distribution 3,324 5,344 6,676 7,160 Subtotal 119,413 121,827 233,636 255,197 PE Films: Surface protection films 21,713 8,643 38,725 21,497 Overwrap packaging 7,484 7,275 15,207 14,602 Subtotal 29,197 15,918 53,932 36,099 Flexible Packaging Films 34,543 33,223 64,655 64,750 Total $ 183,153 $ 170,968 $ 352,223 $ 356,046

Debt Pricing Under Credit Revol

Debt Pricing Under Credit Revolving Agreement Table (Tables)	6 Months Ended
	Jun. 30, 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 Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gain (Loss) on Termination of Lease			$ 300
Goodwill, Impairment Loss	$ 0	$ 15,413	0	$ 15,413
Surface Protection Films [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Goodwill, Impairment Loss				15,400
Goodwill, Impairment Loss, Net of Tax				$ 11,900
Third-Party Financial Institutions
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts Payable	$ 6,800		6,800		$ 15,800
Other Expense
Accounts, Notes, Loans and Financing Receivable [Line Items]
Business Exit Costs			$ 200

Accounts and Other Receivable_2

Accounts and Other Receivables (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Receivables [Abstract]
Accounts Receivable, before Allowance for Credit Loss, Current	$ 82,854	$ 67,183
Other Receivables, Gross, Current	2,401	3,056
Accounts Receivable, before Allowance for Credit Loss	85,255	70,239
Accounts Receivable, Allowance for Credit Loss	(1,360)	(2,301)
Accounts and other receivables, net	$ 83,895	$ 67,938

Inventories (Schedule Of Compon

Inventories (Schedule Of Components Of Inventories) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Inventory, Net [Abstract]
Finished goods	$ 29,239	$ 29,821
Work-in-process	9,049	7,830
Raw materials	28,059	21,939
Stores, supplies and other	22,895	22,447
Inventories	$ 89,242	$ 82,037

Pension And Other Post-Retire_3

Pension And Other Post-Retirement Benefits (Narrative) (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Jun. 30, 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	$ 0.7

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		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Defined Benefit Plan Disclosure [Line Items]
Pension settlement loss				$ 92,300
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 0	$ 0	$ 0	0
Interest cost	19	3,028	38	6,056
Expected return on plan assets	0	(2,607)	0	(5,214)
Amortization of prior service costs, (gains) losses and net transition asset	6	2,982	11	5,965
Net periodic benefit cost	25	3,403	49	6,807
Other Post-Retirement Benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	2	3	5	6
Interest cost	69	71	137	142
Expected return on plan assets	0	0	0	0
Amortization of prior service costs, (gains) losses and net transition asset	(42)	(59)	(82)	(118)
Net periodic benefit cost	$ 29	$ 15	$ 60	$ 30

Earnings Per Share (Narrative)

Earnings Per Share (Narrative) (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Earnings Per Share [Abstract]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	2,427,051	3,019,333	2,648,861	2,830,849

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		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Earnings Per Share [Abstract]
Weighted average shares outstanding used to compute basic earnings per share	34,378	34,079	34,350	33,988
Incremental dilutive shares attributable to stock options and restricted stock	0	0	0	0
Shares used to compute diluted earnings per share	34,378	34,079	34,350	33,988

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		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Beginning Balance	$ 156,815	$ 201,609	$ 155,653	$ 201,762
OCI, before Reclassifications, before Tax, Attributable to Parent	(7,960)	4,288	(9,403)	8,921
Other Comprehensive Income (Loss) before Reclassifications, Tax	1,121	(1,124)	787	(2,646)
OCI, before Reclassifications, Net of Tax, Attributable to Parent	(6,839)	3,164	(8,616)	6,275
Reclassification from AOCI, Current Period, before Tax, Attributable to Parent	830	1,302	(132)	3,253
Reclassification from AOCI, Current Period, Tax	(168)	(191)	92	(577)
Reclassification from AOCI, Current Period, Net of Tax, Attributable to Parent	662	1,111	(40)	2,676
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent, Total	(6,177)	4,275	(8,656)	8,951
Ending Balance	159,964	183,149	159,964	183,149
AOCI Attributable to Parent [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Beginning Balance	(84,176)	(142,919)	(81,697)	(147,595)
Ending Balance	(90,353)	(138,644)	(90,353)	(138,644)
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Beginning Balance	(84,985)	(84,959)	(83,037)	(86,079)
OCI, before Reclassifications, before Tax, Attributable to Parent	(5,979)	1,800	(7,706)	3,356
Other Comprehensive Income (Loss) before Reclassifications, Tax	691	(179)	470	(615)
OCI, before Reclassifications, Net of Tax, Attributable to Parent	(5,288)	1,621	(7,236)	2,741
Reclassification from AOCI, Current Period, before Tax, Attributable to Parent	0	0	0	0
Reclassification from AOCI, Current Period, Tax	0	0	0	0
Reclassification from AOCI, Current Period, Net of Tax, Attributable to Parent	0	0	0	0
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent, Total	(5,288)	1,621	(7,236)	2,741
Ending Balance	(90,273)	(83,338)	(90,273)	(83,338)
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Beginning Balance	297	(1,211)	801	(2,480)
OCI, before Reclassifications, before Tax, Attributable to Parent	(1,981)	2,488	(1,697)	5,565
Other Comprehensive Income (Loss) before Reclassifications, Tax	430	(945)	317	(2,031)
OCI, before Reclassifications, Net of Tax, Attributable to Parent	(1,551)	1,543	(1,380)	3,534
Reclassification from AOCI, Current Period, before Tax, Attributable to Parent	866	(1,621)	(61)	(2,594)
Reclassification from AOCI, Current Period, Tax	(176)	446	76	697
Reclassification from AOCI, Current Period, Net of Tax, Attributable to Parent	690	(1,175)	15	(1,897)
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent, Total	(861)	368	(1,365)	1,637
Ending Balance	(564)	(843)	(564)	(843)
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Beginning Balance	512	(56,749)	539	(59,036)
OCI, before Reclassifications, before Tax, Attributable to Parent	0	0	0	0
Other Comprehensive Income (Loss) before Reclassifications, Tax	0	0	0	0
OCI, before Reclassifications, Net of Tax, Attributable to Parent	0	0	0	0
Reclassification from AOCI, Current Period, before Tax, Attributable to Parent	(36)	2,923	(71)	5,847
Reclassification from AOCI, Current Period, Tax	8	(637)	16	(1,274)
Reclassification from AOCI, Current Period, Net of Tax, Attributable to Parent	(28)	2,286	(55)	4,573
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent, Total	(28)	2,286	(55)	4,573
Ending Balance	$ 484	$ (54,463)	$ 484	$ (54,463)

Derivative Financial Instrume_3

Derivative Financial Instruments (Narrative) (Details) R$ in Thousands, $ in Thousands, lbs in Millions	6 Months Ended
	Jun. 30, 2024 USD ($) lbs	Jun. 30, 2024 BRL (R$)	Jun. 30, 2024 BRL (R$) lbs	Dec. 31, 2023 USD ($) lbs
Derivative [Line Items]
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months	$ (200)
Aluminum Futures Contracts
Derivative [Line Items]
Derivative, Notional Amount	$ 4,900			$ 7,700
Commitment Under Cash Flow Hedges, Mass | lbs	3.6		3.6	5.6
Terphane Ltda [Member]
Derivative [Line Items]
Derivative, Notional Amount	$ 10,956		R$ 59378
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	Jun. 30, 2024	Dec. 31, 2023
Derivatives, Fair Value [Line Items]
Derivative Assets (Liabilities), at Fair Value, Net	$ (437)	$ 2,196
Derivatives Designated As Hedging Instruments [Member] | Accrued Expenses [Member]
Derivatives, Fair Value [Line Items]
Liability derivatives: Fair Value	(685)	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] | Prepaid Expenses and Other Current Assets
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset	248	2,050
Derivatives Designated As Hedging Instruments [Member] | Aluminum Futures Contracts
Derivatives, Fair Value [Line Items]
Derivative Assets (Liabilities), at Fair Value, Net	63	(492)
Derivatives Designated As Hedging Instruments [Member] | Aluminum Futures Contracts | Accrued Expenses [Member]
Derivatives, Fair Value [Line Items]
Liability derivatives: Fair Value	220	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 | Prepaid Expenses and Other Current Assets
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset	$ 283	$ 0

Derivative Financial Instrume_5

Derivative Financial Instruments Terphane Future Cash Flow Hedges (Details) - Terphane Ltda [Member] R$ in Thousands, $ in Thousands	Jun. 30, 2024 USD ($)	Jun. 30, 2024 BRL (R$)
Derivative [Line Items]
Derivative, Notional Amount	$ 10,956	R$ 59378
Foreign Currency Exchange Rate, Translation	5.4197	5.4197
Percentage of Coverage Using Cash Flow Hedges	85%	85%
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		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 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)	$ (675)	$ 557	$ 46	$ 1,959
Amount of pre-tax gain (loss) reclassified from accumulated other comprehensive income (loss) to net income (effective portion)	(1,028)	885	(509)	1,157
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	0	0
Amount of pre-tax gain (loss) reclassified from accumulated other comprehensive income (loss) to net income (effective portion)	15	15	30	30
Foreign Currency Forwards | Selling, general & admin
Derivative Instruments, Gain (Loss) [Line Items]
Amount of pre-tax gain (loss) recognized in other comprehensive income (loss)	(1,306)	1,931	(1,743)	3,606
Amount of pre-tax gain (loss) reclassified from accumulated other comprehensive income (loss) to net income (effective portion)	$ 147	$ 721	$ 540	$ 1,007

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Taxes [Line Items]
Income Tax Expense (Benefit)	$ 1,968	$ (3,331)	$ 2,625	$ (3,000)
Income (loss) before income taxes	$ 10,760	$ (22,253)	$ 14,705	$ (22,934)
Effective Income Tax Rate Reconciliation, Percent			17.90%	13.10%
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		6 Months Ended
	Jan. 31, 2023	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Segment Reporting Information [Line Items]
Sales		$ 183,153	$ 170,968	$ 352,223	$ 356,046
Sales as shown in the condensed consolidated statements of income (loss)		190,235	178,167	365,971	369,289
Total Segment Income (Loss)		18,020	(10,400)	31,135	113
Interest income		7	30	28	74
Interest expense		3,379	2,374	6,834	4,686
Gain on investment in kaléo				(144)	(262)
Stock option-based compensation costs		0	0	0	231
Pension settlement loss					92,300
Corporate expenses, net		4,032	9,509	9,768	18,466
Income (loss) before income taxes		10,760	(22,253)	14,705	(22,934)
Income Tax Expense (Benefit)		1,968	(3,331)	2,625	(3,000)
Net Income (Loss)		8,792	(18,922)	12,080	(19,934)
kaleo [Member]
Segment Reporting Information [Line Items]
Gain on investment in kaléo	$ 144		0	144	262
Freight
Segment Reporting Information [Line Items]
Cost of Goods and Services Sold		7,082	7,199	13,748	13,243
Aluminum Extrusions [Member]
Segment Reporting Information [Line Items]
Sales		119,413	121,827	233,636	255,197
Earnings before interest, taxes, depreciation and amortization (EBITDA)		12,907	10,217	25,447	24,855
Depreciation, Depletion and Amortization		(4,446)	(4,158)	(8,988)	(8,569)
Earnings before interest and taxes (EBIT)		8,461	6,059	16,459	16,286
EBITDA		(1,649)	155	(2,816)	(339)
PE Films [Member]
Segment Reporting Information [Line Items]
Sales		29,197	15,918	53,932	36,099
Earnings before interest, taxes, depreciation and amortization (EBITDA)		10,133	814	17,037	2,663
Depreciation, Depletion and Amortization		(1,317)	(1,552)	(2,645)	(3,195)
Earnings before interest and taxes (EBIT)		8,816	(738)	14,392	(532)
EBITDA		(80)	0	(584)	2
Flexible Packaging Films [Member]
Segment Reporting Information [Line Items]
Earnings before interest, taxes, depreciation and amortization (EBITDA)		3,204	249	5,167	1,599
Depreciation, Depletion and Amortization		(732)	(711)	(1,483)	(1,411)
Earnings before interest and taxes (EBIT)		2,472	(462)	3,684	188
EBITDA		$ 0	$ (1)	$ 0	$ (79)

Segment Reporting (Schedule O_2

Segment Reporting (Schedule Of Identifiable Assets By Segment) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023	Dec. 31, 2022
Assets	$ 450,412	$ 446,461
Cash and cash equivalents	8,669	13,455	$ 21,193	$ 19,232
Operating Segments
Assets	450,412	446,461
Aluminum Extrusions [Member] | Operating Segments
Assets	269,068	255,756
PE Films [Member] | Operating Segments
Assets	59,541	56,536
Flexible Packaging Films [Member] | Operating Segments
Assets	80,650	84,062
Subtotal | Operating Segments
Assets	409,259	396,354
General Corporate | Operating Segments
Assets	$ 32,484	$ 36,652

Segment Reporting Schedule of R

Segment Reporting Schedule of Revenue by Geographic Location (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disaggregation of Revenue [Line Items]
Sales	$ 183,153	$ 170,968	$ 352,223	$ 356,046
Aluminum Extrusions [Member]
Disaggregation of Revenue [Line Items]
Sales	119,413	121,827	233,636	255,197
Aluminum Extrusions [Member] | Nonresidential Building And Construction [Member]
Disaggregation of Revenue [Line Items]
Sales	67,267	65,784	133,615	144,413
Aluminum Extrusions [Member] | Consumer Durables [Member]
Disaggregation of Revenue [Line Items]
Sales	8,922	11,714	16,906	22,061
Aluminum Extrusions [Member] | Automotive [Member]
Disaggregation of Revenue [Line Items]
Sales	10,127	11,769	20,733	23,891
Aluminum Extrusions [Member] | Residential Building And Construction [Member]
Disaggregation of Revenue [Line Items]
Sales	9,883	10,056	17,785	21,659
Aluminum Extrusions [Member] | Electrical [Member]
Disaggregation of Revenue [Line Items]
Sales	7,221	6,078	13,057	14,207
Aluminum Extrusions [Member] | Machinery and Equipment BNL [Domain]
Disaggregation of Revenue [Line Items]
Sales	12,669	11,082	24,864	21,806
Aluminum Extrusions [Member] | Distribution [Member]
Disaggregation of Revenue [Line Items]
Sales	3,324	5,344	6,676	7,160
Aluminum Extrusions [Member] | Aluminum Extrusions Subtotal [Member]
Disaggregation of Revenue [Line Items]
Sales	119,413	121,827	233,636	255,197
PE Films [Member]
Disaggregation of Revenue [Line Items]
Sales	29,197	15,918	53,932	36,099
PE Films [Member] | Surface Protection Films [Member]
Disaggregation of Revenue [Line Items]
Sales	21,713	8,643	38,725	21,497
PE Films [Member] | Personal Care Materials
Disaggregation of Revenue [Line Items]
Sales	7,484	7,275	15,207	14,602
PE Films [Member] | Film Products Subtotal [Member]
Disaggregation of Revenue [Line Items]
Sales	29,197	15,918	53,932	36,099
Flexible Packaging Films [Member] [Domain]
Disaggregation of Revenue [Line Items]
Sales	34,543	33,223	64,655	64,750
UNITED STATES
Disaggregation of Revenue [Line Items]
Sales	141,681	133,417	274,308	284,027
Asia [Member] | Exports From United States [Member]
Disaggregation of Revenue [Line Items]
Sales	13,834	5,477	22,659	11,209
Revenues	6,700	3,400	12,800	6,800
Asia [Member] | Operations Outside United States [Member]
Disaggregation of Revenue [Line Items]
Sales	104	160	266	160
Latin America [Member] | Exports From United States [Member]
Disaggregation of Revenue [Line Items]
Sales	1,395	1,817	2,726	3,676
CANADA | Exports From United States [Member]
Disaggregation of Revenue [Line Items]
Sales	2,483	4,955	7,022	9,239
Europe [Member] | Exports From United States [Member]
Disaggregation of Revenue [Line Items]
Sales	393	272	648	1,132
Brazil | Operations Outside United States [Member]
Disaggregation of Revenue [Line Items]
Sales	$ 23,263	$ 24,975	$ 44,594	$ 46,603

Debt (Details)

Debt (Details) $ in Thousands, ¥ in Millions	6 Months Ended
	Jun. 30, 2024 USD ($)	Jun. 30, 2024 CNY (¥)	Dec. 31, 2023 USD ($)
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	45,100
Short-Term Debt	122,000		$ 126,322
Letters of Credit Outstanding, Amount	$ 12,900
Cash Dominion Availability after ABL Adjustment Date	0.125	0.125
Minimum Liquidity under ABL Facility	$ 10,000
Minimum Availability before ABL Adjustment Date	0.10	0.10
Debt Instrument, Periodic Payment, Principal	$ 1,700
Terphane Brazil Loan
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate	5.99%
Other Borrowings	$ 20,000
Debt Instrument, Interest Rate, Stated Percentage	5.35%	5.35%
Tredegar intercompany
Line of Credit Facility [Line Items]
Other Borrowings	$ 20,000
Guangzhou Tredegar Loan
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate	0.45%
Other Borrowings	$ 1,300	¥ 9.5
Debt Instrument, Interest Rate, Stated Percentage	3.45%	3.45%
Debt Instrument, Collateral Amount | ¥		¥ 30
Debt, Current | ¥		¥ 5
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	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	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	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%