Company: MATV
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001000623-25-000009
Chunk: 140

Company: Mativ Holdings, Inc.
Filing Date: 2025-02-27
Form: 10-K
Item: Item 8
Chunk 140
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 of  Gains (losses)RecognizedYear Ended December 31,202420232022Effect of cash flow hedgesAmount reclassified from Accumulated other comprehensive  income (loss) to incomeInterest expense$23.4 $28.4 $1.9 Effect of net investment hedgesAmount excluded from assessment of hedge effectivenessInterest expense7.6 10.0 10.6 Effect of fair value hedgesHedged itemInterest expense4.1 4.6 — Derivative designated as hedgesInterest expense(4.1)(4.6)— Effect of non-designated hedgesForeign exchange contractsOther income3.8 0.8 3.6 Total gain$34.8 $39.2 $16.1 

Deferred gains of $8.8 million attributable to settled interest rate swaps designated as cash flow hedges are expected to be reclassified to Interest expense over the next twelve months. 

85

MATIV HOLDINGS, INC. AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Note 15. Accrued Expenses and Other Current Liabilities

Accrued expenses and Other current liabilities consisted of the following (in millions):December 31,20242023Accrued salaries, wages and employee benefits$45.3 $45.0 Accrued sales discounts and allowances15.4 11.9 Other accrued expenses40.0 56.8 Total$100.7 $113.7 

Note 16. Income Taxes 

For financial reporting purposes, loss before income taxes includes the following components (in millions):Years Ended December 31,202420232022U.S.$(92.8)$(256.9)$(123.0)Foreign13.9 (224.0)26.5 Total$(78.9)$(480.9)$(96.5)An analysis of the expense (benefit) for income taxes from continuing operations follows (in millions):Years Ended December 31,202420232022Current income taxes:U.S. federal$0.8 $(13.5)$(12.3)U.S. state(2.1)(2.3)0.3 Foreign7.0 18.8 13.3 5.7 3.0 1.3 Deferred income taxes:U.S. federal(27.