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Document And Entity Information - shares	9 Months Ended
Document And Entity Information - shares	Sep. 30, 2011	Oct. 31, 2011
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2011
Document Fiscal Year Focus	2011
Document Fiscal Period Focus	Q3
Entity Registrant Name	TREDEGAR CORP
Entity Central Index Key	0000850429
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		32,018,725

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2011	Dec. 31, 2010
Assets
Cash and cash equivalents	$ 109,403	$ 73,191
Accounts and other receivables, net of allowance for doubtful accounts and sales returns of $3,060 in 2011 and $5,286 in 2010	100,058	84,076
Income taxes recoverable	9,898	6,643
Inventories	34,662	43,058
Deferred income taxes	5,992	6,924
Prepaid expenses and other	4,373	5,369
Total current assets	264,386	219,261
Property, plant and equipment, at cost	669,654	669,290
Less accumulated depreciation	485,383	462,453
Net property, plant and equipment	184,271	206,837
Other assets and deferred charges	48,030	48,127
Goodwill and other intangibles, net	106,242	106,117
Total assets	602,929	580,342
Liabilities and Shareholders' Equity
Accounts payable	63,649	58,209
Accrued expenses	26,924	33,229
Current portion of long-term debt		222
Total current liabilities	90,573	91,660
Long-term debt		228
Deferred income taxes	51,757	51,879
Other noncurrent liabilities	19,256	19,029
Total liabilities	161,586	162,796
Commitments and contingencies (Notes 1 and 3)
Shareholders' equity:
Common stock, no par value (issued and outstanding - 32,018,725 at September 30, 2011 and 31,883,173 at December 31, 2010)	13,134	10,724
Common stock held in trust for savings restoration plan	(1,340)	(1,332)
Foreign currency translation adjustment	21,792	23,572
Gain (loss) on derivative financial instruments	(266)	280
Pension and other postretirement benefit adjustments	(56,946)	(59,871)
Retained earnings	464,969	444,173
Total shareholders' equity	441,343	417,546
Total liabilities and shareholders' equity	$ 602,929	$ 580,342

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2011	Dec. 31, 2010
Consolidated Balance Sheets [Abstract]
Accounts and other receivable, allowance for doubtful accounts and sales returns	$ 3,060	$ 5,286
Common stock, no par value
Common stock, shares issued	32,018,725	31,883,173
Common stock, shares outstanding	32,018,725	31,883,173

Consolidated Statements Of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2011	Sep. 30, 2010	Sep. 30, 2011	Sep. 30, 2010
Revenues and other items:
Sales	$ 202,590	$ 197,518	$ 595,080	$ 557,530
Other income (expense), net	1,334	814	1,957	1,036
Revenues, total	203,924	198,332	597,037	558,566
Costs and expenses:
Cost of goods sold	164,771	158,648	489,754	450,346
Freight	4,636	5,068	13,377	13,760
Selling, general and administrative	17,926	16,758	49,335	50,508
Research and development	3,298	5,102	10,042	12,003
Amortization of intangibles	130	125	388	342
Interest expense	367	358	1,083	775
Asset impairments and costs associated with exit and disposal activities	193	109	1,277	520
Total	191,321	186,168	565,256	528,254
Income from continuing operations before income taxes	12,603	12,164	31,781	30,312
Income taxes	(133)	3,196	6,329	10,602
Income from continuing operations	12,736	8,968	25,452	19,710
Loss from discontinued operations			(345)
Net income	$ 12,736	$ 8,968	$ 25,107	$ 19,710
Earnings per share Basic
Continuing operations	$ 0.40	$ 0.28	$ 0.80	$ 0.61
Discontinued operations			(0.01)
Net income	0.40	0.28	0.79	0.61
Earnings per share Diluted
Continuing operations	0.40	0.28	0.79	0.60
Discontinued operations			(0.01)
Net income	$ 0.40	$ 0.28	$ 0.78	$ 0.60
Shares used to compute earnings per share:
Basic	31,952	31,779	31,918	32,455
Diluted	32,060	31,995	32,175	32,648
Dividends per share	$ 0.045	$ 0.040	$ 0.135	$ 0.120

Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2011	Sep. 30, 2010
Cash flows from operating activities:
Net income	$ 25,107	$ 19,710
Adjustments for noncash items:
Depreciation	32,139	32,316
Amortization of intangibles	388	342
Deferred income taxes	448	(6,067)
Accrued pension and postretirement benefits	1,861	844
Loss on asset impairments and divestitures	798	355
Gain on disposal of assets	(1,205)	(15)
Changes in assets and liabilities, net of effects of acquisitions and divestitures:
Accounts and other receivables	(14,186)	(24,697)
Inventories	7,419	(3,722)
Income taxes recoverable	(3,255)	563
Prepaid expenses and other	715	172
Accounts payable and accrued expenses	675	10,340
Other, net	(2,170)	(523)
Net cash provided by operating activities	48,734	29,618
Cash flows from investing activities:
Capital expenditures	(11,235)	(13,847)
Acquisition		(5,500)
Net proceeds from the sale of assets and property disposals	1,622	1,724
Net cash used in investing activities	(9,613)	(17,623)
Cash flows from financing activities:
Dividends paid	(4,319)	(3,865)
Debt principal payments and financing costs	(89)	(2,467)
Proceeds from exercise of stock options	709	463
Repurchases of Tredegar common stock		(35,141)
Net cash used in financing activities	(3,699)	(41,010)
Effect of exchange rate changes on cash	790	(18)
Increase (decrease) in cash and cash equivalents	36,212	(29,033)
Cash and cash equivalents at beginning of period	73,191	90,663
Cash and cash equivalents at end of period	$ 109,403	$ 61,630

Consolidated Statement Of Shareholders' Equity - 9 months ended Sep. 30, 2011 - USD ($) $ in Thousands	Common Stock [Member]	Retained Earnings [Member]	Trust For Savings Restoration Plan [Member]	Foreign Currency Translation [Member]	Gain (Loss) On Derivative Financial Instruments [Member]	Pension & Other Post-retirement Benefit Adjust. [Member]	Total
Balance at Dec. 31, 2010	$ 10,724	$ 444,173	$ (1,332)	$ 23,572	$ 280	$ (59,871)	$ 417,546
Comprehensive income (loss):
Net income		25,107					25,107
Other comprehensive income (loss):
Foreign currency translation adjustment (net of tax benefit of $940)				(1,780)			(1,780)
Derivative financial instruments adjustment (net of tax benefit of $336)					(546)		(546)
Amortization of prior service costs and net gains or losses (net of tax of $1,646)						2,925	2,925
Comprehensive income							25,706
Cash dividends declared ($.135 per share)		(4,319)					(4,319)
Stock-based compensation expense	2,176						2,176
Issued upon exercise of stock options (including related income tax benefits of $110) & other	234						234
Tredegar common stock purchased by trust for savings restoration plan		8	(8)
Balance at Sep. 30, 2011	$ 13,134	$ 464,969	$ (1,340)	$ 21,792	$ (266)	$ (56,946)	$ 441,343

Consolidated Statement Of Shareholders' Equity (Parenthetical) $ in Thousands	9 Months Ended
	Sep. 30, 2011 USD ($) $ / shares
Consolidated Statement Of Shareholders' Equity [Abstract]
Foreign currency translation adjustment, tax benefit	$ 940
Derivative financial instruments adjustment, tax benefit	336
Amortization of prior service costs and net gains or losses, tax	$ 1,646
Cash dividends declared, per share \| $ / shares	$ 0.135
Issued upon exercise of stock options, income tax benefits	$ 110

- Definition

Tax effect on the change in the balance sheet adjustment that results from the process of translating subsidiary financial statements and foreign equity investments into reporting currency of the reporting entity for the period being reported.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 130
-Paragraph 23, 24, 25, 26
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 130
-Paragraph 25
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 52
-Paragraph 31
-Subparagraph c
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 5: http://www.xbrl.org/2003/role/presentationRef
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-URI http://asc.fasb.org/extlink&oid=6920043&loc=d3e640-108580

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 38
-Subparagraph c(3)
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Basis Of Presentation

9 Months Ended

Sep. 30, 2011

Basis Of Presentation [Abstract]

Basis Of Presentation

1. In the opinion of management, the accompanying consolidated interim financial statements of Tredegar Corporation and Subsidiaries ("Tredegar," "we," "us" or "our") contain all adjustments necessary to state fairly, in all material respects, Tredegar's consolidated financial position as of September 30, 2011, the consolidated results of operations for the three and nine months ended September 30, 2011 and 2010, the consolidated cash flows for the nine months ended September 30, 2011 and 2010, and the consolidated changes in shareholders' equity for the nine months ended September 30, 2011. All such adjustments, unless otherwise detailed in the notes to the consolidated interim financial statements, are deemed to be of a normal, recurring nature. These financial statements should be read in conjunction with the consolidated financial statements and related notes included in Tredegar's Annual Report on Form 10-K for the year ended December 31, 2010. The results of operations for the three and nine months ended September 30, 2011, are not necessarily indicative of the results to be expected for the full year.

Subsequent Events

9 Months Ended

Sep. 30, 2011

Subsequent Events [Abstract]

Subsequent events

2. On October 14, 2011, TAC Holdings, LLC, a newly formed Virginia limited liability company (the "Buyer"), and Tredegar Film Products Corporation, which are indirect and direct, respectively, wholly-owned subsidiaries of Tredegar, entered into a Membership Interest Purchase Agreement (the "Purchase Agreement") with Guacho Holdings, B.V. (the "Seller") an indirect, wholly-owned subsidiary of Vision Capital Partners VII LP. On October 24, under the terms of the Purchase Agreement, the Buyer acquired from the Seller 100% of the outstanding equity interests of Terphane Holdings, LLC ("Terphane") for approximately $188 million (subject to certain post-closing adjustments as provided in the Purchase Agreement). The purchase price was funded using available cash on hand and financing secured from our existing $300 million revolving credit facility.

Terphane is headquartered in São Paulo, Brazil and operates two manufacturing facilities in Cabo, Pernambuco Brazil and Bloomfield, New York. It is a market leading producer of thin polyester films in Latin America with a growing presence in strategic niches in the United States. Polyester films have specialized properties, such as heat resistance and barrier protection, that make them uniquely suited for the fast-growing flexible packaging market. The acquisition of Terphane will thus allow us to extend our product offerings into adjacent specialty films markets and to expand in Latin America, which is one of the fastest growing and most dynamic geographic markets in the world.

Plant Shutdowns, Asset Impairments, Restructurings And Other

9 Months Ended

Sep. 30, 2011

Plant Shutdowns, Asset Impairments, Restructurings And Other [Abstract]

Plant Shutdowns, Asset Impairments, Restructurings And Other

3. Plant shutdowns, asset impairments, restructurings and other charges are shown in the net sales and operating profit by segment table in Note 10, and unless otherwise noted below, are also included in "Asset impairments and costs associated with exit and disposal activities" in the consolidated statements of income.

Plant shutdowns, asset impairments, restructurings and other items in the third quarter of 2011 include:

· Pretax charges of $2.3 million for acquisition-related expenses (included in "Selling, general and administrative expenses" in the consolidated statements of income) associated with the purchase of Terphane by Film Products;

· Pretax gain of $1.0 million on the divestiture of our film products business in Roccamontepiano, Italy (included in "Other income (expenses), net" in the consolidated statements of income), which includes the recognition of previously unrealized foreign currency translation gains of $4.3 million that were associated with the business;

· Pretax charges of $193,000 for severance and other employee-related costs in connection with restructurings in Film Products; and

· Pretax losses of $43,000 for timing differences between the recognition of realized losses on aluminum futures contracts and related revenues from the delayed fulfillment by customers of fixed-price forward purchase commitments (included in "Cost of goods sold" in the consolidated statements of income).

Plant shutdowns, asset impairments, restructurings and other items in the first nine months of 2011 include:

· Pretax charges of $798,000 for asset impairments in Film Products;

· Pretax charges of $479,000 for severance and other employee-related costs in connection with restructurings in Film Products; and

· Pretax gains of $19,000 for timing differences between the recognition of realized losses on aluminum futures contracts and related revenues from the delayed fulfillment by customers of fixed-price forward purchase commitments (included in "Cost of goods sold" in the consolidated statements of income).

Plant shutdowns, asset impairments, restructurings and other items in the third quarter of 2010 include:

· Pretax charge of $109,000 for severance and other employee-related costs in connection with restructurings in Film Products; and

· Pretax gain of $14,000 for timing differences between the recognition of realized losses on aluminum futures contracts and related revenues from the delayed fulfillment by customers of fixed-price forward purchase commitments (included in "Cost of goods sold" in the consolidated statements of income).

Plant shutdowns, asset impairments, restructurings and other items in the first nine months of 2010 include:

· Pretax gains of $480,000 for timing differences between the recognition of realized losses on aluminum futures contracts and related revenues from the delayed fulfillment by customers of fixed-price forward purchase commitments (included in "Cost of goods sold" in the consolidated statements of income);

· Pretax charge of $355,000 for an asset impairment in Film Products;

· Pretax charge of $165,000 for severance and other employee-related costs in connection with restructurings in Film Products;

· Pretax gain of $120,000 on the sale of previously impaired equipment (included in "Other income (expense), net" in the consolidated statement of income) at our film products manufacturing facility in Pottsville, Pennsylvania; and

· Pretax losses of $105,000 on the disposal of equipment (included in "Other income (expense), net" in the consolidated statements of income) from a previously shutdown film products manufacturing facility in LaGrange, Georgia.

A reconciliation of the beginning and ending balances of accrued expenses related to asset impairments and costs associated with exit and disposal activities for the nine months ended September 30, 2011 is as follows:

(In Thousands)		Severance	Other (a)	Total
Balance at December 31, 2010		$ 237	$ 1,593	$ 1,830
Changes in 2011:
	Charges	479	-	479
	Cash spent	(359)	(1,593)	(1,952)
Balance at September 30, 2011		$ 357	$ -	$ 357

(a) Other represents accrued losses on a sub-lease at a facility in Princeton, New Jersey.

On February 12, 2008, we sold our aluminum extrusions business in Canada for approximately $25 million. All historical results for this business were previously reported in discontinued operations. In the second quarter of 2011, an adjustment of $345,000 ($345,000 net of tax) was made to amounts previously accrued for environmental obligations after we received notices of claims for indemnification under the related purchase agreement.

Components Of Other Comprehensive Income Or Loss

9 Months Ended

Sep. 30, 2011

Components Of Other Comprehensive Income Or Loss [Abstract]

Components Of Other Comprehensive Income Or Loss

4. The components of other comprehensive income or loss are as follows:

				Three Months Ended		Nine Months Ended
				September 30		September 30
(In Thousands)				2011	2010	2011	2010
Net income				$ 12,736	$ 8,968	$ 25,107	$ 19,710
	Foreign currency translation adjustment:
		Unrealized foreign currency translation
			adjustment arising during period	(4,307)	5,404	1,001	(2,060)
		Reclassification adjustment of foreign
			currency translation gain included in
			income (related to sale of film
			products business in Italy - see
			Note 3)	(2,781)	-	(2,781)	-
		Foreign currency translation adjustment		(7,088)	5,404	(1,780)	(2,060)
	Derivative financial instrument adjustment			(330)	398	(546)	(562)
	Amortization of prior service costs and
		net gains or losses		905	910	2,925	2,306
Comprehensive income				$ 6,223	$ 15,680	$ 25,706	$ 19,394

- Definition

The entire disclosure for comprehensive income. Includes, but is not limited to, the following: 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income. Components of comprehensive income include: (1) foreign currency translation adjustments; (2) gains (losses) on foreign currency transactions that are designated as, and are effective as, economic hedges of a net investment in a foreign entity; (3) gains (losses) on intercompany foreign currency transactions that are of a long-term-investment nature, when the entities to the transaction are consolidated, combined, or accounted for by the equity method in the reporting enterprise's financial statements; (4) change in the market value of a futures contract that qualifies as a hedge of an asset reported at fair value; (5) unrealized holding gains (losses) on available-for-sale securities and that resulting from transfers of debt securities from the held-to-maturity category to the available-for-sale category; (6) a net loss recognized as an additional pension liability not yet recognized as net periodic pension cost; and (7) the net gain (loss) and net prior service cost or credit for pension plans and other postretirement benefit plans.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 130
-Paragraph 14-26
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
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-URI http://asc.fasb.org/extlink&oid=6522872

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+ Details

Inventories

9 Months Ended

Sep. 30, 2011

Inventories [Abstract]

Inventories

5. The components of inventories are as follows:

		September 30,	December 31,
(In Thousands)		2011	2010
Finished goods		$ 4,310	$ 7,373
Work-in-process		2,107	3,669
Raw materials		10,441	15,327
Stores, supplies and other		17,804	16,689
	Total	$ 34,662	$ 43,058

Earnings Per Share

9 Months Ended

Sep. 30, 2011

Earnings Per Share [Abstract]

Earnings Per Share

6. Basic earnings per share is computed by dividing net income by the weighted average number of shares of common stock outstanding. Diluted earnings per share is computed by dividing net income by the weighted average common and potentially dilutive common equivalent shares outstanding, determined as follows:

		Three Months		Nine Months
		Ended September 30		Ended September 30
(In Thousands)		2011	2010	2011	2010
Weighted average shares outstanding used
	to compute basic earnings per share	31,952	31,779	31,918	32,455
Incremental dilutive shares attributable to stock
	options and restricted stock	108	216	257	193
Shares used to compute diluted earnings
	per share	32,060	31,995	32,175	32,648

Incremental shares attributable to stock options and restricted stock are computed using the average market price during the related period. During the three and nine months ended September 30, 2011 and the three and nine months ended September 30, 2010, 693,183, 335,939, 368,267 and 432,300, respectively, of average out-of-the-money options to purchase shares of our common stock were excluded from the calculation of incremental shares attributable to stock options and restricted stock.

Investments

9 Months Ended

Sep. 30, 2011

Investments [Abstract]

Investments

7. We have invested $7.5 million in a privately held specialty pharmaceutical company. The company is developing and commercializing state of the art drug delivery systems designed to improve patient compliance and outcomes, and our ownership interest on a fully diluted basis is approximately 21%. The investment is accounted for under the fair value method. We elected the fair value option over the equity method of accounting since our investment objectives are similar to those of venture capitalists, which typically do not have controlling financial interests.

At September 30, 2011 and December 31, 2010, the estimated fair value of our investment (also the carrying value included in "Other assets and deferred charges" in our balance sheet) was $16.0 million. The fair value estimates are based upon significant unobservable (Level 3) inputs since there is no secondary market for our ownership interest. Accordingly, until the next round of financing or other significant financial transaction, value estimates will primarily be based on assumptions relating to meeting product development and commercialization milestones, corresponding cash flow projections (projections of sales, costs, expenses, capital expenditures and working capital investment) and discounting of these factors for the high degree of risk. Adjustments to the estimated fair value of our investment will be made in the period during which changes can be quantified.

Had we not elected to account for our investment under the fair value method, we would have been required to use the equity method of accounting. For the three and nine months ended September 30, 2011, the specialty pharmaceutical company reported a net loss of $202,000 and net income of $423,000, respectively, compared to net income of $74,000 and net income of $11.2 million for the first three and nine months of 2010, respectively. Operating results included $2.3 million and $3.3 million in licensing revenues in the third quarters of 2011 and 2010, respectively, and $8.8 million and $25.8 million in the first nine months of 2011 and 2010, respectively. Total assets (which included cash and cash equivalents of $12.3 million at September 30, 2011 and $18.8 million at December 31, 2010) were $18.5 million and $26.6 million at September 30, 2011 and December 31, 2010, respectively.

Our investment in Harbinger Capital Partners Special Situations Fund, L.P. ("Harbinger Fund") had a reported capital account value of $7.8 million at September 30, 2011, compared with $9.6 million at December 31, 2010. This investment had a carrying value in Tredegar's balance sheet (included in "Other assets and deferred charges") of $5.7 million at September 30, 2011 and $6.4 million at December 31, 2010. The carrying value at September 30, 2011 reflected Tredegar's cost basis in its investment in the Harbinger Fund, net of total withdrawal proceeds received. The timing and amount of future installments of withdrawal proceeds, which commenced in August 2010, were not known as of September 30, 2011. There were no gains or losses recognized due to our investment in Harbinger in 2011 or 2010. Gains on our investment in Harbinger will be recognized when the amounts expected to be collected from our withdrawal from the investment are known, which will likely be when cash in excess of our remaining carrying value is received. Losses will be recognized when management believes it is probable that future withdrawal proceeds will not exceed the remaining carrying value.

Derivative Financial Instruments

9 Months Ended

Sep. 30, 2011

Derivative Financial Instruments [Abstract]

Derivative Financial Instruments

8. We use derivative financial instruments for the purpose of hedging margin exposure from fixed-price forward sales contracts in Aluminum Extrusions and currency exchange rate exposures that exist due to specified transactions. Our derivative financial instruments are designated as and qualify as cash flow hedges and are recognized in the balance sheet at fair value. A change in the fair value of derivatives that are highly effective as and that are designated and qualify as cash flow hedges is recorded in other comprehensive income (loss). Gains and losses reported in other comprehensive income (loss) are reclassified to earnings in the periods in which earnings are affected by the variability of cash flows of the hedged transaction. Such gains and losses are reported on the same line as the underlying hedged item. Any hedge ineffectiveness (which represents the amount by which the changes in the fair value of the derivative exceed the variability in the cash flows of the forecasted transaction) is recorded in current period earnings. The amount of gains (losses) recognized for hedge ineffectiveness was not material to the third quarter or first nine months of 2011 and 2010.

The fair value of derivative instruments recorded on the consolidated balance sheets are based upon significant other observable (Level 2) inputs within the corresponding commodity or foreign currency markets. If individual derivative instruments with the same counterparty can be settled on a net basis, we record the corresponding derivative fair values as a net asset or net liability.

In the normal course of business, we enter into fixed-price forward sales contracts with certain customers for the future sale of fixed quantities of aluminum extrusions at scheduled intervals. In order to hedge our margin exposure created from the fixing of future sales prices relative to volatile raw material (aluminum) costs, we enter 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 generally have durations of not more than 12 months, and the notional amount of aluminum futures contracts that hedged future purchases of aluminum to meet fixed-price forward sales contract obligations was $5.8 million (5.3 million pounds of aluminum) at September 30, 2011 and $5.8 million (5.7 million pounds of aluminum) at December 31, 2010.

The table below summarizes the location and gross amounts of aluminum futures contract fair values in the consolidated balance sheets as of September 30, 2011 and December 31, 2010:

		September 30, 2011		December 31, 2010
		Balance Sheet	Fair	Balance Sheet	Fair
(In Thousands)		Account	Value	Account	Value

Derivatives Designated as Hedging Instruments

Asset derivatives:				Prepaid expenses
	Aluminum futures contracts	Accrued expenses	$ -	and other	$ 490

Liability derivatives:				Prepaid expenses
	Aluminum futures contracts	Accrued expenses	$ 428	and other	$ 36

In the event that the counterparty to an aluminum fixed-price forward sale contract chooses to not take delivery of its aluminum extrusions, the customer is contractually obligated to compensate us for any losses on the related aluminum futures and/or forward purchase contracts through the date of cancellation.

We used future fixed Euro-denominated contractual payments for equipment being purchased as part of our expansion of the Carthage, Tennessee aluminum extrusion manufacturing facility. We utilized a fixed rate Euro forward contract with various settlement dates through March 2010 to hedge exchange rate exposure on these obligations. There was no outstanding notional amount of this foreign currency forward contract at September 30, 2011 and December 31, 2010.

We receive Euro-based royalty payments relating to our operations in Europe. We have used zero-cost collar currency options to hedge a portion of our exposure to changes in cash flows due to variability in U.S. Dollar and Euro exchange rates. There was no outstanding notional amount for zero-cost collar currency option contracts at September 30, 2011 and December 31, 2010.

These derivative contracts involve elements of credit and market risk that are not reflected on our consolidated balance sheet, including the risk of dealing with counterparties and their ability to meet the terms of the contracts. The counterparties to our forward purchase commitments are major aluminum brokers and suppliers, and the counterparties to our aluminum futures contracts are major financial institutions. Fixed-price forward sales contracts are only made available to our most credit-worthy customers. The counterparties to our foreign currency futures and zero-cost collar option contracts are major financial institutions.

The effect on net income and other comprehensive income (loss) of derivative instruments classified as cash flow hedges and described in the previous paragraphs for the three and nine month periods ended September 30, 2011 and 2010 is summarized in the table below:

(In Thousands)	Cash Flow Derivative Hedges
	Aluminum Futures Contracts		Foreign Currency Forwards and Options
	Three Months Ended September 30
	2011	2010	2011	2010
Amount of pre-tax gain (loss) recognized in
other comprehensive income	$ (478)	$ 783	$ -	$ (341)
Location of gain (loss) reclassified from				Selling,
accumulated other comprehensive income	Cost of	Cost of		general &
into net income (effective portion)	sales	sales		admin. exp.

Amount of pre-tax gain (loss) reclassified
from accumulated other comprehensive
income to net income (effective portion)	$ 55	$ (160)	$ -	$ (49)
	Cash Flow Derivative Hedges
	Aluminum Futures Contracts		Foreign Currency Forwards and Options
	Nine Months Ended September 30
	2011	2010	2011	2010
Amount of pre-tax gain (loss) recognized in
other comprehensive income	$ (242)	$ (305)	$ -	$ (304)
Location of gain (loss) reclassified from				Selling,
accumulated other comprehensive income	Cost of	Cost of		general &
into net income (effective portion)	sales	sales		admin. exp.

Amount of pre-tax gain (loss) reclassified
from accumulated other comprehensive
income to net income (effective portion)	$ 641	$ 325	$ -	$ (49)

Gains and losses on the ineffective portion of derivative instruments or derivative instruments that were not designated as hedging instruments were immaterial for the three and nine months ended September 30, 2011 and 2010. As of September 30, 2011, we expect $266,000 of unrealized after-tax losses on derivative instruments reported in accumulated other comprehensive income (loss) to be reclassified to earnings within the next twelve months. For the three and nine months ended September 30, 2011 and 2010, net gains or losses realized on previously unrealized net gains or losses from hedges that had been discontinued were not material.

- Definition

The entire disclosure for the entity's entire derivative instruments and hedging activities. Describes an entity's risk management strategies, derivatives in hedging activities and non-hedging derivative instruments, the assets, obligations, liabilities, revenues and expenses arising therefrom, and the amounts of and methodologies and assumptions used in determining the amounts of such items.

+ References

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-Name Statement of Financial Accounting Standard (FAS)
-Number 133
-Paragraph 45
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-Name Statement of Financial Accounting Standard (FAS)
-Number 133
-Paragraph 44
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+ Details

Pension And Other Post-Retirement Benefit

9 Months Ended

Sep. 30, 2011

Pension And Other Post-Retirement Benefit [Abstract]

Pension And Other Post-Retirement Benefit

9. The components of net periodic benefit cost for our pension and other post-retirement benefit programs reflected in consolidated results are shown below:

		Pension		Other Post-Retirement
		Benefits for Three Months		Benefits for Three Months
		Ended September 30		Ended September 30
(In Thousands)		2011	2010	2011	2010
Service cost		$ (919)	$ (892)	$ (15)	$ (21)
Interest cost		(3,202)	(3,227)	(105)	(107)
Expected return on plan assets		5,123	5,132	-	-
Amortization of prior service costs, gains or
	losses and net transition asset	(1,612)	(1,421)	65	41
Net periodic benefit cost		$ (610)	$ (408)	$ (55)	$ (87)

		Pension		Other Post-Retirement
		Benefits for Nine Months		Benefits for Nine Months
		Ended September 30		Ended September 30
		2011	2010	2011	2010
Service cost		$ (2,521)	$ (2,486)	$ (41)	$ (57)
Interest cost		(9,768)	(9,804)	(296)	(350)
Expected return on plan assets		15,336	15,397	-	-
Amortization of prior service costs, gains or
	losses and net transition asset	(4,769)	(3,603)	198	59
Net periodic benefit cost		$ (1,722)	$ (496)	$ (139)	$ (348)

We contributed $167,000 to our pension plans for continuing operations in 2010 and expect to contribute a similar amount in 2011. We fund our other post-retirement benefits (life insurance and health benefits) on a claims-made basis, which were $311,000 for the year ended December 31, 2010.

- Definition

The entire disclosure for pension and other postretirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 132R
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-Number 30
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-Publisher FASB
-Name Implementation Guide (Q and A)
-Number FAS88
-Paragraph 63
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+ Details

Segment Reporting

9 Months Ended

Sep. 30, 2011

Segment Reporting [Abstract]

Segment Reporting

10. We have four reportable segments, which include Film Products, Aluminum Extrusions, AFBS (formerly Therics, Inc.) and Other. The Other segment is comprised of the start-up operations of Bright View Technologies Corporation and Falling Springs, LLC. Information by business segment is reported below. There are no accounting transactions between segments and no allocations to segments. Net sales (sales less freight) and operating profit from ongoing operations are the measures of sales and operating profit used by the chief operating decision maker for purposes of assessing performance.

The following table presents net sales and operating profit by segment for the three and nine months ended September 30, 2011 and 2010:

			Three Months			Nine Months
			Ended September 30			Ended September 30
(In Thousands)		2011		2010	2011		2010
Net Sales
Film Products		$ 129,656		$ 137,325	$ 393,043		$ 389,692
Aluminum Extrusions		66,815		54,629	186,712		152,099
Other		1,483		496	1,948		1,979
Total net sales		197,954		192,450	581,703		543,770
Add back freight		4,636		5,068	13,377		13,760
Sales as shown in the Consolidated Statements of Income		$ 202,590		$ 197,518	$ 595,080		$ 557,530

Operating Profit (Loss)
Film Products:
	Ongoing operations	$ 16,415		$ 17,828	$ 46,881		$ 50,732
	Plant shutdowns, asset impairments, restructurings and other	(1,435)		(109)	(2,519)		(505)

Aluminum Extrusions:
	Ongoing operations	2,301		140	2,539		(2,618)
	Plant shutdowns, asset impairments, restructurings and other	(43)		14	19		480

Other:
	Ongoing operations	(152)		(840)	(2,399)		(2,934)

Total		17,086		17,033	44,521		45,155
Interest income		278		184	778		518
Interest expense		367		358	1,083		775
Stock option-based compensation costs		474		527	1,481		1,539
Corporate expenses, net		3,920		4,168	10,954		13,047
Income from continuining operations before income taxes		12,603		12,164	31,781		30,312
Income taxes		(133)		3,196	6,329		10,602
Income from continuing operations		12,736		8,968	25,452		19,710
Loss from discontinued operations		-		-	(345)		-
Net income		$ 12,736		$ 8,968	$ 25,107		$ 19,710

The following table presents identifiable assets by segment at September 30, 2011 and December 31, 2010:

		September 30,	December 31,
(In Thousands)		2011	2010
Film Products		$ 344,150	$ 363,312
Aluminum Extrusions		87,534	81,731
AFBS (formerly Therics)		583	583
Other		21,647	19,701
	Subtotal	453,914	465,327
General corporate		39,612	41,824
Cash and cash equivalents		109,403	73,191
	Total	$ 602,929	$ 580,342

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599

+ Details

Income Taxes

9 Months Ended

Sep. 30, 2011

Income Taxes [Abstract]

Income Taxes

11. The effective tax rate for continuing operations for the first nine months of 2011 was 19.9% compared to 35.0% in first nine months of 2010. The significant differences between the U.S. federal statutory rate and the effective income tax rate for the nine months ended September 30, 2011 and 2010 are as follows:

		Percent of Income
		Before Income Taxes
Nine Months Ended September 30		2011	2010
Income tax expense at federal statutory rate		35.0	35.0
Non-deductible acquisition-related expenses		2.4	-
State taxes, net of federal income tax benefit		2.1	0.9
Unremitted earnings from foreign operations		1.9	1.7
Non-deductible expenses		0.9	0.2
Valuation allowance for foreign operating loss carry-forwards		0.9	0.5
Income tax contingency accruals/reversals		0.4	0.1
Changes in estimates related to prior year tax provision		0.4	(5.7)
Reserve for uncollectible tax indemnification receivable		-	2.4
Domestic production activities deduction		-	(1.2)
Valuation allowance for capital loss carry-forwards		(0.1)	0.6
Research and development tax credit		(0.9)	-
Foreign rate differences		(4.5)	0.5
Deduction for divestiture of subsidiary stock		(18.8)	-
Other		0.2	-
	Effective income tax rate	19.9	35.0

The effective tax rate for the first nine months of 2011 reflects an ordinary loss on the write-off of our investment in the film products business in Italy, which was divested in the third quarter of 2011. We anticipate realizing estimated tax benefits of approximately $5 million related to the divestiture of this business.

We claimed an ordinary loss on the write-off of our investment in our aluminum extrusions operations in Canada, which was sold in February 2008, on our 2008 consolidated tax return (included in discontinued operations in the consolidated statement of income in 2007). The Internal Revenue Service has challenged the ordinary nature of such deduction, asserting that the deduction should be re-characterized as capital in nature. We plan to vigorously defend our position related to this matter and believe that we will prevail but there can be no assurance of such a result. If the Company were not to prevail in final, non-appealable determinations, it is possible that the matter would result in additional tax payments of up to $12 million, plus any interest and penalties.

Tredegar and its subsidiaries file income tax returns in the U.S., various states and jurisdictions outside the U.S. Generally, except for refund claims and amended returns, Tredegar is no longer subject to U.S. federal income tax examinations by tax authorities for years before 2006. With few exceptions, Tredegar and its subsidiaries are no longer subject to state or non-U.S. income tax examinations by tax authorities for years before 2007.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Paragraph h
-Article 4

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 136, 172
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 43, 44, 45, 46, 47, 48, 49
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(h))
-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32559-109319

+ Details

New Accounting Pronouncements

9 Months Ended

Sep. 30, 2011

New Accounting Pronouncements [Abstract]

New Accounting Pronouncements

12. In May 2011, the Financial Accounting Standards Board ("FASB") and the International Accounting Standards Board completed their joint project on fair value measurement and issued their respective final standards. The amended FASB guidance results in common fair value measurement and disclosure requirements for U.S. GAAP and International Financial Reporting Standards. Many of the changes to U.S. GAAP clarified existing guidance. Some changes, however, such as the change in the valuation premise and the application of premiums and discounts as well as new disclosure requirements, could have a more significant impact. The new disclosure requirements include: (1) enhanced disclosure for the valuation of all Level 3 fair value measurements; (2) disclosure of transfers between Level 1 and Level 2 fair value measurements on a gross basis, including reasons for those transfers; (3) disclosure about the highest and best use of non-financial assets; and (4) disclosure of the fair value hierarchy categorization for those assets whose fair value is disclosed but not recognized on the balance sheet. The new FASB guidance is effective for interim and annual reporting periods beginning after December 15, 2011. Early application is not permitted. We are currently evaluating the impact of this guidance on our financial statements and disclosures.

In June 2011, the FASB issued authoritative guidance that will require entities to present net income and other comprehensive income in either a single continuous statement or in two separate, but consecutive, statements of net income and other comprehensive income. The option to present the elements of other comprehensive income in the statement of changes in equity will be eliminated. The new guidance is effective for interim and annual periods beginning after December 15, 2011, however early application is permitted. In October 2011, the FASB decided to expose a proposed deferral of this new reporting requirement in response to concerns raised by issuers and other stakeholders. We will continue to monitor the FASB's activities, and will implement the guidance when required.

In September 2011, the FASB issued guidance that changes the goodwill impairment guidance in order to reduce the cost and complexity of the annual impairment test. The changes will provide entities an option to perform a "qualitative" assessment to determine whether further impairment testing is necessary. If an entity believes, as a result of its qualitative assessment, that it is more-likely-than-not that the fair value of a reporting unit is less than its carrying amount, the quantitative impairment test will be required. Otherwise, no further testing will be required. The revised guidance will be effective for annual and interim goodwill impairment tests performed for fiscal years beginning after December 15, 2011. However, earlier adoption is permitted. We are currently evaluating the impact of this guidance on our annual impairment testing procedures.