0001628280-26-016665 | 10-K | XBRL Viewer

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Income Taxes (Schedule Of Deferred Tax Liabilities And Assets) (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Deferred income tax assets:
Employee benefits	$ 4,511	$ 6,381
Basis difference in capital assets	430	430
Inventory	1,754	956
Asset write-offs, divestitures and environmental accruals	857	3,656
U.S. federal and state NOL and credit carryforwards	35,000	38,706
Capitalized R&D expenditures	8,672	8,169
Other	633	815
Lease liabilities	2,933	3,419
Interest expense limitation carryforward	0	471
Deferred income tax assets before valuation allowance	54,790	63,003
Less: Valuation allowance	14,623	15,220
Deferred Tax Assets, Net of Valuation Allowance	40,167	47,783
Deferred income tax liabilities:
Goodwill and identifiable intangibles	1,704	1,019
Property, plant and equipment	7,502	9,086
Right-of-use leased assets	2,806	3,210
Other	1,878	2,020
Total deferred income tax liabilities	13,890	15,335
Deferred income tax assets	26,277	32,517
Deferred income tax liabilities	0	69
Deferred income tax assets	$ 26,277	$ 32,448

Accounts And Other Receivables (Schedule Of Reconciliation Of The Beginning And Ending Balances Of The Allowance For Doubtful Accounts And Sales Returns) (Details) - Allowance For Doubtful Accounts - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Allowance for Doubtful Accounts Receivable [Roll Forward]
Balance, beginning of year	$ 229	$ 1,162	$ 2,068
Charges to expense	89	145	407
Write-offs and settlements	(7)	(1,078)	(1,313)
Balance, end of year	$ 311	$ 229	$ 1,162

Consolidated Statements Of Shareholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Retained Earnings	Trust for Savings Restoration Plan	Accumulated Other Comprehensive Income (Loss)
Beginning balance (in shares) at Dec. 31, 2022		34,000,642
Beginning balance at Dec. 31, 2022	$ 201,762	$ 58,824	$ 292,721	$ (2,188)	$ (147,595)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(105,905)		(105,905)
Foreign currency translation adjustment	3,042				3,042
Foreign currency translation loss realized on the sale of Terphane	0
Derivative financial instruments adjustment	3,281				3,281
Derivative financial instruments loss realized on the sale of Terphane	0
Net gains or (losses) and prior service costs	1,513				1,513
Amortization of prior service costs and net gains or losses	7,065				7,065
Recognized actuarial gain on the other postretirement benefits termination in 2025 and recognition in earnings of actuarial loss for pension settlement in 2023 (net of tax benefit of $454 in 2025 and net of tax expense of $41,294 on 2023)	50,997				50,997
Cash dividends declared	(8,884)		(8,884)
Stock-based compensation expense (in shares)		407,996
Stock-based compensation expense	3,036	$ 3,036
Repurchase of employee common stock for tax withholdings	(254)	$ (254)
Tredegar common stock purchased by trust for savings restoration plan	0		45	(45)
Ending balance (in shares) at Dec. 31, 2023		34,408,638
Ending balance at Dec. 31, 2023	155,653	$ 61,606	177,977	(2,233)	(81,697)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(64,565)		(64,565)
Foreign currency translation adjustment	(295)				(295)
Foreign currency translation loss realized on the sale of Terphane	88,437				88,437
Derivative financial instruments adjustment	755				755
Derivative financial instruments loss realized on the sale of Terphane	(1,288)				(1,288)
Net gains or (losses) and prior service costs	397				397
Amortization of prior service costs and net gains or losses	(110)				(110)
Recognized actuarial gain on the other postretirement benefits termination in 2025 and recognition in earnings of actuarial loss for pension settlement in 2023 (net of tax benefit of $454 in 2025 and net of tax expense of $41,294 on 2023)	0
Stock-based compensation expense (in shares)		252,634
Stock-based compensation expense	2,211	$ 2,211
Repurchase of employee common stock for tax withholdings	(227)	$ (227)
Ending balance (in shares) at Dec. 31, 2024		34,661,272
Ending balance at Dec. 31, 2024	180,968	$ 63,590	113,412	(2,233)	6,199
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	33,476		33,476
Foreign currency translation adjustment	461				461
Foreign currency translation loss realized on the sale of Terphane	0
Derivative financial instruments adjustment	803				803
Derivative financial instruments loss realized on the sale of Terphane	0
Net gains or (losses) and prior service costs	(48)				(48)
Amortization of prior service costs and net gains or losses	(199)				(199)
Recognized actuarial gain on the other postretirement benefits termination in 2025 and recognition in earnings of actuarial loss for pension settlement in 2023 (net of tax benefit of $454 in 2025 and net of tax expense of $41,294 on 2023)	(794)				(794)
Stock-based compensation expense (in shares)		76,262
Stock-based compensation expense	2,476	$ 2,476
Repurchase of employee common stock for tax withholdings	(589)	$ (589)
Ending balance (in shares) at Dec. 31, 2025		34,737,534
Ending balance at Dec. 31, 2025	$ 216,554	$ 65,477	$ 146,888	$ (2,233)	$ 6,422

Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Cash flows from operating activities:
Net income (loss)	$ 33,476	$ (64,565)	$ (105,905)
Adjustments for noncash items:
Depreciation	19,971	23,681	25,786
Amortization of identifiable intangibles	1,758	1,856	1,897
Goodwill impairment	0	13,271	34,891
Reduction of right-of-use lease asset	2,115	2,259	2,220
Deferred income taxes	6,224	(8,202)	(56,098)
Accrued pension and postretirement benefits	161	217	10,844
OPEB termination gain	(6,265)	0	0
Pension settlement loss and (gain) on Other Post-Retirement Benefits termination	0	0	92,291
Stock-based compensation expense	1,808	2,498	1,978
Gain on investment in kaléo	0	(144)	(262)
(Gain) loss on sale of divested business	9,657	(74,877)	0
Production equipment asset impairment	843	0	0
Gain on the sale of assets	(1,497)	0	0
Impairment of Richmond, Virginia Technical Center assets	0	0	3,454
Changes in assets and liabilities:
Accounts and other receivables	(16,992)	(14,785)	17,400
Inventories	(13,563)	(6,911)	47,607
Income taxes recoverable/payable	89	137	(406)
Prepaid expenses and other	2,068	(7,174)	1,204
Accounts payable and accrued expenses	13,568	10,009	(25,165)
Lease liability	(2,422)	(2,749)	(2,299)
Pension and postretirement benefit plan contributions	(557)	(587)	(28,269)
Other, net	1,849	1,820	2,827
Net cash provided by (used in) operating activities	32,977	25,508	23,995
Cash flows from investing activities:
Capital expenditures	(17,241)	(14,347)	(26,446)
Proceeds from the sale of kaléo	0	144	262
Net proceeds on sale of divested business	9,835	54,631	0
Proceeds from the sale of assets	1,904	83	0
Net cash provided by (used in) investing activities	(5,502)	40,511	(26,184)
Cash flows from financing activities:
Borrowings	123,390	615,201	116,134
Repayments of Long-Term Lines of Credit	(150,273)	(679,590)	(107,713)
Dividends paid	0	0	(8,884)
Debt financing costs	(1,272)	(587)	(4,021)
Net cash provided by (used in) financing activities:	(28,155)	(64,976)	(4,484)
Effect of exchange rate changes on cash	347	(7,436)	896
Increase (decrease) in cash and cash equivalents	(333)	(6,393)	(5,777)
Cash and cash equivalents at beginning of period	7,062	13,455	19,232
Cash and cash equivalents at end of period	6,729	7,062	13,455
Supplemental cash flow information:
Interest payments	3,901	13,524	10,499
Income tax payments, net	$ 3,358	$ 12,228	$ 2,282

Discontinued Operations (Details) - USD ($) $ in Thousands				12 Months Ended
Discontinued Operations (Details) - USD ($) $ in Thousands	Feb. 28, 2025	Nov. 01, 2024	Sep. 01, 2023	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Discontinued Operations and Disposal Groups [Abstract]
Business Combination, Consideration Transferred, Tangible and Intangible Assets, Excluding Cash			$ 116,000
Proceeds from Divestiture of Businesses, Net of Cash Divested		$ 60,000
Disposal Group, Including Discontinued Operation, Debt		20,000		$ 20,000
Disposal Group, Including Discontinued Operation, Cash assumed by buyer		2,000
Disposal Group, Including Discontinued Operation, Working Capital Adjustment		20,500
Disposal Group, Including Discontinued Operation, Escrow funds		19,800
Disposal Group, Including Discontinued Operation, Withholding taxes		10,800
Disposal Group, Including Discontinued Operation, Transaction expenses		$ 4,400
Net proceeds on sale of divested business	$ 9,800			9,835	$ 54,631	$ 0
Gain on divestiture of business				$ (9,657)	74,877	$ 0
Disposal Group, Including Discontinued Operation, Realized Other Comprehensive Income					102,300
Disposal Group, Including Discontinued Operation, Deferred Tax Assets					100
Disposal Group, Including Discontinued Operation, Liabilities					$ 700

Financial Instruments (Schedule Of Pretax Effect On Net Income (Loss) And Other Comprehensive Income (Loss) Of Derivative Instruments Classified As Cash Flow Hedges) (Details) - Aluminum Futures Contracts [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Derivatives, Fair Value [Line Items]
Amount of pre-tax gain (loss) recognized in other comprehensive income	$ 2,448	$ 43	$ 7,598
Cost of Sales [Member]
Derivatives, Fair Value [Line Items]
Amount of pre-tax gain (loss) reclassified from accumulated other comprehensive income to net income (effective portion)	$ 1,184	$ (612)	$ 4,508

Income Taxes (Summary of Effective Income Tax Rate For Continuing Operations) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Amount
Income tax expense (benefit) at federal statutory rate	$ 6,441	$ 185	$ (31,598)
Research and development tax credit	(930)	(797)	(766)
Changes in valuation allowances	192	(654)	237
Stock based compensation	493	409	136
Executive compensation	384
Other	75	282	144
Other adjustments	112
State and local income tax, net of federal (national) income tax effect1	683	28	168
Foreign rate differences	20	57	39
Changes in unrecognized tax benefits	(886)
Changes in estimates related to prior year tax provision		326	559
U.S. tax on foreign branch income		0	1,693
Stranded taxes released with termination of pension		0	(21,913)
Tax contingency accruals and tax settlements		(1)	1
Total	$ 6,584	$ (165)	$ (51,300)
Percent
Income tax expense (benefit) at federal statutory rate	21.00%	21.00%	21.00%
Research and development tax credit	(3.00%)	(90.60%)	0.50%
Changes in valuation allowances	0.60%	(74.30%)	(0.20%)
Stock based compensation	1.60%	46.50%	(0.10%)
Executive compensation	1.30%
Other	0.20%	32.00%	(0.10%)
Other adjustments	0.40%
State and local income tax, net of federal (national) income tax effect1	2.20%	3.20%	(0.10%)
Other foreign jurisdictions	0.10%	6.50%	0.00%
Changes in unrecognized tax benefits	(2.90%)
Changes in estimates related to prior year tax provision		37.00%	(0.40%)
U.S. tax on foreign branch income		0.00%	(1.10%)
Stranded taxes released with termination of pension		0.00%	14.60%
Tax contingency accruals and tax settlements		(0.10%)	0.00%
Effective tax rate	21.50%	(18.80%)	34.10%

Business Segments (Schedule Of Identifiable Assets) (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Revenue from External Customer [Line Items]
Total assets	$ 371,372	$ 356,357
Discontinued operations	0	126
Operating Segments
Revenue from External Customer [Line Items]
Total assets	371,372	356,357
Cash and cash equivalents	6,729	7,062
Aluminum Extrusions \| Operating Segments
Revenue from External Customer [Line Items]
Total assets	269,802	247,205
High Performance Films \| Operating Segments
Revenue from External Customer [Line Items]
Total assets	52,998	55,081
Subtotal \| Operating Segments
Revenue from External Customer [Line Items]
Total assets	322,800	302,286
General corporate
Revenue from External Customer [Line Items]
Total assets	41,843	46,883
General corporate \| Operating Segments
Revenue from External Customer [Line Items]
Total assets	$ 41,843	$ 46,883

- Definition

Amount of asset recognized for present right to economic benefit.

+ References

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+ Details

Inventories (Schedule Of Inventories) (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Inventory, Net [Abstract]
Finished goods	$ 17,578	$ 15,051
Work-in-process	3,574	2,986
Raw materials	20,365	12,158
Stores, supplies and other	23,445	21,186
Total	$ 64,962	$ 51,381

Leases, Codification Topic 842

12 Months Ended

Dec. 31, 2025

Leases [Abstract]

Lessee, Operating Leases

4. LEASES

Tredegar has various operating lease agreements with remaining terms up to 18 years, including leases of real estate, office equipment and vehicles. As of December 31, 2025 and 2024, the Company had no finance lease agreements. Some leases include options to purchase the leased asset, terminate the agreement or extend the term of the agreement for one or more years. These options are included in the lease term when it is reasonably certain that the option will be exercised.

The following table presents a maturity analysis of the Company’s operating leases as of December 31, 2025:


(In thousands)
	Future Lease Payments
2026		$	2,833
2027		2,430
2028		2,196
2029		2,205
2030		2,223
Thereafter		3,481
Total undiscounted operating lease payments		15,368
Less: Imputed interest		2,145
Present value of operating lease liabilities		$	13,223

The following table summarizes lease costs and other information for the years ended December 31, 2025 and 2024. These costs are primarily related to long-term operating leases but also include amounts for variable leases and short-term leases.


(In thousands)	2025			2024
Operating lease expense	$	2,855		$	4,350




Other Information:
Weighted-average remaining lease term for operating leases	9 years			10 years
Weighted-average discount rate for operating leases	4.81		%	4.77		%

Discontinued Operations

12 Months Ended

Dec. 31, 2025

Discontinued Operations and Disposal Groups [Abstract]

Divestitures and Assets Held for Sale

15. DIVESTITURES

Flexible Packaging Films

On September 1, 2023, the Company entered into an agreement to sell Terphane, headquartered in Brazil, to Oben for net cash-free and debt-free base consideration of $116 million.

On November 1, 2024, Tredegar completed the sale of Terphane to Oben. At closing, Tredegar received $60 million in cash, which is net of Terphane debt assumed by Oben of $20 million and estimated Terphane cash retained by Oben of $2 million. The cash proceeds received by Tredegar at closing are after deducting net working capital adjustments and closing indebtedness ($20.5 million), escrow funds ($19.8 million), projected Brazil withholding taxes ($10.8 million), and transaction expenses ($4.4 million). In February 2025, the Company received $9.8 million from post-closing settlement of the transaction. The proceeds from the sale of Terphane were required to be used to pay down debt outstanding under the ABL Facility.

Upon completion of the sale, the Company recognized a pre-tax loss of $74.9 million for the year ended December 31, 2024, which includes the realization of other comprehensive losses on foreign currency translation adjustments, net of gains on derivative financial instruments of $102.3 million previously reflected in accumulated other comprehensive income (loss).

The following table summarizes the financial results of discontinued operations reflected in the Consolidated Statements of Income (Loss) for the years ended December 31, 2025, 2024 and 2023:


	Years Ended December 31,
(In thousands)	2025		2024		2023
Revenue and other items
Sales	$	—	$	118,382	$	131,502
Other income (expense), net	—		8		2
	—		118,390		131,504
Costs and expenses
Cost of goods sold	—		97,919		118,669
Freight	—		5,598		5,177
Selling, general and administrative	387		7,608		10,819
Research and development	—		655		867
Amortization of intangibles	—		78		139
Interest expense (a)	—		7,532		5,291
Asset impairments and costs associated with exit and disposal activities, net of adjustments	—		—		107
(Gain) loss on sale of business	(9,657)		74,877		—
Total	(9,270)		194,267		141,069
Income (loss) from discontinued operations before income tax	9,270		(75,877)		(9,565)
Income tax expense (benefit)	(121)		(10,267)		(2,825)
Income (loss) from discontinued operations, net of tax	$	9,391	$	(65,610)	$	(6,740)
(a) For the years ended December 31, 2024 and 2023, interest expense includes $1.9 million and $0.4 million, respectively, directly related to the $20 million of outstanding Terphane debt assumed by Oben.

Interest expense allocated to discontinued operations was determined by applying the ABL Facility weighted-average interest rate to the Terphane sale proceeds, as the sale proceeds were required to be used to pay down debt outstanding under the ABL Facility.

At December 31, 2024, assets and liabilities of the discontinued operations totaled $0.1 million and $0.7 million, respectively. At December 31, 2025, the Company had no remaining assets or liabilities associated with the discontinued operations.

The following table provides significant operating, investing and financing cash flow information for discontinued operations:


	Year Ended December 31,
(In thousands)	2025		2024		2023
Operating activities:
Depreciation and amortization	$	—	$	2,313	$	2,865
(Gain) loss on the sale of divested business	(9,657)		74,877		—
Total	$	(9,657)	$	77,190	$	2,865
Investing activities:
Net proceeds on sale of divested business	$	9,835	$	54,631	$	—
Capital expenditures	—		(2,489)		(4,323)
Total	$	9,835	$	52,142	$	(4,323)
Financing activities
Borrowings	$	—	$	—	$	20,000

Total	$	—	$	—	$	20,000

Summary Of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2025

Accounting Policies [Abstract]

Schedule Of Diluted Earnings Per Share Computed Using Weighted Average Common And Potentially Dilutive Common Equivalent Shares Outstanding

Diluted earnings per share is computed using the weighted average common and potentially dilutive common equivalent shares outstanding, determined as follows:


	2025	2024	2023
Weighted average shares outstanding used to compute basic earnings per share	34,735,139	34,346,242	34,133,078
Incremental shares attributable to stock options and restricted stock	—	—	—
Shares used to compute diluted earnings per share	34,735,139	34,346,242	34,133,078

Schedule of Accumulated Other Comprehensive Income (Loss)

The changes in accumulated other comprehensive income (loss) by component are summarized as follows:


(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)	3,511		11,794		1,935		17,240
Income tax (expense) benefit	(469)		(2,977)		(422)		(3,868)
Other comprehensive income (loss), net of tax	3,042		8,817		1,513		13,372
Reclassification adjustment to net income (loss)	—		(7,580)		101,323		93,743
Income tax (expense) benefit	—		2,044		(43,261)		(41,217)
Reclassification adjustment to net income (loss), net of tax	—		(5,536)		58,062		52,526
Other comprehensive income (loss), net of tax	3,042		3,281		59,575		65,898
Balance at December 31, 2023	(83,037)		801		539		(81,697)
Other comprehensive income (loss)	(295)		240		506		451
Income tax (expense) benefit	—		(72)		(109)		(181)
Other comprehensive income (loss), net of tax	(295)		168		397		270
Reclassification adjustment to net income (loss)	89,038		(1,881)		(141)		87,016
Income tax (expense) benefit	(601)		1,180		31		610
Reclassification adjustment to net income (loss), net of tax	88,437		(701)		(110)		87,626
Other comprehensive income (loss), net of tax	88,142		(533)		287		87,896
Balance at December 31, 2024	5,105		268		826		6,199
Other comprehensive income (loss)	461		2,110		(61)		2,510
Income tax (expense) benefit	—		(473)		13		(460)
Other comprehensive income (loss), net of tax	461		1,637		(48)		2,050
Reclassification adjustment to net income (loss)	—		(1,087)		(1,503)		(2,590)
Income tax (expense) benefit	—		253		510		763
Reclassification adjustment to net income (loss), net of tax	—		(834)		(993)		(1,827)
Other comprehensive income (loss), net of tax	461		803		(1,041)		223
Balance at December 31, 2025	$	5,566	$	1,071	$	(215)	$	6,422

Summary Of Significant Accounting Policies (Narrative) (Details). $ in Thousands	12 Months Ended
	Dec. 31, 2025 USD ($) shares	Dec. 31, 2024 USD ($) shares	Dec. 31, 2023 USD ($) shares
Summary Of Significant Accounting Policies [Line Items]
Number of Reportable Segments	2
Foreign Currency Transaction Gain (Loss), before Tax	$ (300)	$ 300	$ 200
Cash	6,700	7,100
Cash and cash equivalents	6,729	7,062
Goodwill	22,446	22,446	35,717
Goodwill impairment	$ 0	$ 13,271	$ 34,891
Incremental shares excluded from the calculation of incremental shares attributable to stock options and restricted stock \| shares	1,245,367	2,497,008	2,925,091
Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Period Increase (Decrease), Including Exchange Rate Effect, Continuing Operation	$ 5,700	$ 3,600
Interest Costs Capitalized	1,600	1,900	$ 1,600
Aluminum Extrusions
Summary Of Significant Accounting Policies [Line Items]
Goodwill	0	0	$ 13,271
Goodwill impairment	0	(13,271)
Surface protection films
Summary Of Significant Accounting Policies [Line Items]
Goodwill	22,400
Goodwill impairment		34,900
Goodwill, Impairment Loss, Net of Tax		27,000
Aluminum Extrusions
Summary Of Significant Accounting Policies [Line Items]
Goodwill impairment	13,300
Goodwill, Impairment Loss, Net of Tax	$ 10,400
Minimum \| Buildings And Land Improvements
Summary Of Significant Accounting Policies [Line Items]
Average useful life	5 years
Minimum \| Machinery and Equipment
Summary Of Significant Accounting Policies [Line Items]
Average useful life	2 years
Maximum \| Buildings And Land Improvements
Summary Of Significant Accounting Policies [Line Items]
Average useful life	40 years
Maximum \| Machinery and Equipment
Summary Of Significant Accounting Policies [Line Items]
Average useful life	20 years
Foreign Country
Summary Of Significant Accounting Policies [Line Items]
Cash and cash equivalents	$ 1,900	$ 1,600

Accrued Expenses (Tables)

12 Months Ended

Dec. 31, 2025

Accrued Liabilities [Abstract]

Schedule Of Accrued Expenses

Accrued expenses consist of the following:


(In thousands)	2025		2024
Payrolls, related taxes and medical and other benefits	$	8,312	$	6,812
Incentive compensation	5,839		6,434
Workers’ compensation and disabilities	1,991		2,005
Vacation	1,806		1,668
Deferred revenue	1,513		—
Accrued utilities	1,279		1,164
Environmental liabilities	1,108		1,259
Customer rebates	553		540
Accrued interest	221		231
Accrued freight	135		213
Derivative contract liability	4		80
Other	2,650		1,762
Total	$	25,411	$	22,168

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2025

Income Tax Disclosure [Abstract]

Schedule Of Income From Continuing Operations Before Income Taxes

Income (loss) from continuing operations before income taxes is as follows:


(In thousands)	2025		2024		2023
Income (loss) from continuing operations before income taxes:
Domestic	$	29,745	$	(523)	$	(151,488)
Foreign	924		1,403		1,023
Total	$	30,669	$	880	$	(150,465)

Income tax expense (benefit) from continuing operations is as follows:


(In thousands)	2025		2024		2023
Current income tax expense (benefit):
Federal	$	(563)	$	(106)	$	(39,929)
State	691		704		(39)
Foreign	279		123		241
Total	407		721		(39,727)
Deferred income tax expense (benefit):
Federal	6,104		(470)		(11,758)
State	137		(517)		198
Foreign	(64)		101		(13)
Total	6,177		(886)		(11,573)
Total income tax expense (benefit) for continuing operations
Federal	5,541		(576)		(51,687)
State	828		187		159
Foreign	215		224		228
Total	6,584		(165)		(51,300)

Summary Of Effective Income Tax Rate For Continuing Operations

Below is a tabular rate reconciliation pursuant to the disclosure requirements of ASU 2023-09 for the year ended December 31, 2025.


	2025
(In thousands, except percentages)	Amount		%
U.S. federal statutory tax rate	$	6,441	21.0
U.S. domestic federal
Tax credits
Research and development tax credit	(930)		(3.0)
Changes in valuation allowances	192		0.6
Nontaxable or nondeductible items
Stock based compensation	493		1.6
Executive compensation	384		1.3
Other	75		0.2
Other adjustments	112		0.4
State and local income tax, net of federal (national) income tax effect1	683		2.2
Foreign tax effects
Other foreign jurisdictions	20		0.1
Changes in unrecognized tax benefits	(886)		(2.9)
Effective tax rate	$	6,584	21.5
1.State taxes in Pennsylvania and Georgia made up the majority (greater than 50 percent) of the tax effect in this category.

The significant differences between the U.S. federal statutory rate and the effective income tax rate related to continuing operations for the years ended December 31, 2024 and 2023 prior to the adoption of ASU 2023-09 are as follows:


	2024			2023
(In thousands, except percentages)	Amount		%	Amount		%
Income tax expense (benefit) at federal statutory rate	$	185	21.0	$	(31,598)	21.0
Stock-based compensation	409		46.5	136		(0.1)
Changes in estimates related to prior year tax provision	326		37.0	559		(0.4)
Non-deductible other	282		32.0	144		(0.1)
Foreign rate differences	57		6.5	39		—
State taxes, net of federal income tax benefit	28		3.2	168		(0.1)
U.S. tax on foreign branch income	—		—	1,693		(1.1)
Stranded taxes released with termination of pension	—		—	(21,913)		14.6
Tax contingency accruals and tax settlements	(1)		(0.1)	1		—
Changes in federal valuation allowance	(654)		(74.3)	237		(0.2)
Research and development tax credit	(797)		(90.6)	(766)		0.5
Income tax expense (benefit) at effective income tax rate	$	(165)	(18.8)	$	(51,300)	34.1

Schedule of Cash Flow, Supplemental Disclosures

Disclosed below is a summary of income taxes paid (refunded) by jurisdiction for continuing operations pursuant to the disclosure requirements of ASU 2023-09 for the year ended December 31, 2025.


(In thousands)	Year Ended December 31, 2025
Federal
United States	$	(222)
State
Georgia	85
Michigan	53
Pennsylvania	305
Texas	51
Other state jurisdictions	(13)
Foreign
China	466
Total cash taxes paid for continuing operations	$	725

Schedule Of Deferred Tax Liabilities And Assets

Deferred income tax assets and deferred income tax liabilities for continuing operations at December 31, 2025 and 2024, are as follows:


(In thousands)	2025		2024
Deferred income tax assets:
Employee benefits	$	4,511	$	6,381
Basis difference in capital assets	430		430
Inventory	1,754		956
Asset write-offs, divestitures and environmental accruals	857		3,656
U.S. federal and state NOL and credit carryforwards	35,000		38,706
Capitalized R&D expenditures	8,672		8,169
Other	633		815
Lease liabilities	2,933		3,419
Interest expense limitation carryforward	—		471

Deferred income tax assets before valuation allowance	54,790		63,003
Less: Valuation allowance	14,623		15,220
Total deferred income tax assets	$	40,167	$	47,783
Deferred income tax liabilities:
Goodwill and identifiable intangibles	$	1,704	$	1,019
Property, plant and equipment	7,502		9,086



Right-of-use leased assets	2,806		3,210
Other	1,878		2,020
Total deferred income tax liabilities	13,890		15,335
Net deferred income tax assets (liabilities)	$	26,277	$	32,448
Amounts recognized in the consolidated balance sheets:
Deferred income tax assets (noncurrent)	$	26,277	$	32,517
Deferred income tax liabilities (noncurrent)	—		69
Net deferred income tax assets (liabilities)	$	26,277	$	32,448

Schedule Of Unrecognized Uncertain Tax Positions

A reconciliation of the Company’s unrecognized uncertain tax positions since January 1, 2023, is shown below:


	Years Ended December 31,
(In thousands)	2025		2024		2023
Balance at beginning of period	$	840	$	659	$	628
Increase (decrease) due to tax positions taken in:
Current period	—		25		25
Prior period	—		158		23
Reductions due to lapse of statute of limitations	(840)		(2)		(17)
Balance at end of period	$	—	$	840	$	659

Retirement Plans And Other Postretirement Benefits (Tables)

12 Months Ended

Dec. 31, 2025

Retirement Benefits [Abstract]

Reconciliation Of Changes In Benefit Obligations And Plan Assets

The following tables reconcile the changes in benefit obligations and plan assets in 2025 and 2024, and reconcile the funded status to prepaid or accrued cost at December 31, 2025 and 2024:


	Pension Benefits				Other Post- Retirement Benefits
(In thousands)	2025		2024		2025		2024
Change in benefit obligation:
Benefit obligation, beginning of year	$	1,478	$	1,600	$	5,078	$	5,712
Service cost	—		—		9		9
Interest cost	78		75		225		274
Effect of actuarial (gains) losses related to the following:
Discount rate change	39		(60)		166		(305)

Other	(20)		47		(93)		(193)
Plan participant contributions	—		—		357		456
Benefits paid	(199)		(184)		(725)		(875)
Termination of Other Post-Retirement Benefits plan	—		—		(5,017)		—
Benefit obligation, end of year	$	1,376	$	1,478	$	—	$	5,078
Change in plan assets:
Plan assets at fair value, beginning of year	$	—	$	—	$	—	$	—
Actual return on plan assets	—		—		—		—
Employer contributions	199		184		368		419
Plan participant contributions	—		—		357		456
Benefits paid	(199)		(184)		(725)		(875)

Plan assets at fair value, end of year	$	—	$	—	$	—	$	—
Funded status of the plans	$	(1,376)	$	(1,478)	$	—	$	(5,078)
Amounts recognized in the consolidated balance sheets:
Accrued expenses (current)	$	180	$	161	$	—	$	481
Pension and other postretirement benefit obligations, net	1,196		1,317		—		4,597
Net amount recognized	$	1,376	$	1,478	$	—	$	5,078

Components Of Net Periodic Benefit Income Or Cost For Continuing Operations

The following table sets forth the assumptions used in accounting for the pension and other post-retirement benefits, and the components of net periodic benefit cost:


	Pension Benefits									Other Post- Retirement Benefits
(In thousands, except percentages)	2025			2024			2023			2025			2024			2023
Weighted-average assumptions used to determine benefit obligations:
Discount rate	5.07		%	5.49		%	4.89		%	—		%	5.63		%	4.98		%

Weighted-average assumptions used to determine net periodic benefit cost:
Discount rate(a)	5.49		%	4.89%			5.07%/5.37%			5.63%/5.25%			4.98		%	5.17		%

Components of net periodic benefit cost:
Service cost	$	—		$	—		$	—		$	9		$	9		$	10
Interest cost	78			75			9,623			225			274			288
Expected return on plan assets	—			—			(8,109)			—			—			—
Amortization of prior service costs and gains or losses	20			21			9,245			(275)			(162)			(213)
Net periodic benefit cost	$	98		$	96		$	10,759		$	(41)		$	121		$	85
Pension settlement loss and (gain) on Other Post-Retirement Benefits termination	—			—			92,291			(6,265)			—			—
Total benefit cost	$	98		$	96		$	103,050		$	(6,306)		$	121		$	85
(a) Prior to the Other Post-Retirement Benefits termination in October 2025, a discount rate of 5.63% was used to determine the net periodic benefit cost. On October 31, 2025, a discount rate of 5.25% was used to determine the settlement. Prior to the pension lump sum distributions in August 2023, a discount rate of 5.07% was used to determine the net periodic benefit cost. Subsequent to August 2023, a discount rate of 5.37% was used to determine the net periodic benefit cost until the Company purchased a nonparticipating single premium group annuity contract in October 2023.

Schedule Of Expected Benefit Payments For Continuing Operations

Expected benefit payments over the next five years and in the aggregate for 2031—2035 are as follows:


(In thousands)	Pension Benefits
2026	$	179
2027	170
2028	160
2029	151
2030	141
2031—2035	576

Schedule Of Amounts Recognized Before Related Deferred Income Taxes In Accumulated Other Comprehensive Income

The pre-tax amounts recorded in 2025, 2024 and 2023 in accumulated other comprehensive income (loss) consist of:


	Pension Benefits						Other Post-Retirement Benefits
(In thousands)	2025		2024		2023		2025		2024		2023
Net actuarial (gain) loss	$	454	$	384	$	415	$	—	$	(1,534)	$	(1,250)

Debt And Credit Agreements (Tables)

12 Months Ended

Dec. 31, 2025

Debt Disclosure [Abstract]

Schedule Of Borrowings Under Credit Agreement At Various Indebtedness To Adjusted EBITDA Levels

As amended by Amendment No. 5, based upon the quarterly average of daily availability under the ABL Facility, the interest rate pricing grid, is as follows:


Pricing under the ABL Facility (Basis Points)
Quarter Average of Daily Availability	Term Benchmark Spread	ABR Spread
> 66% of $125 million aggregate commitment	175.0	75.0
≤ 66% but > 33% of $125 million aggregate commitment	200.0	100.0
≤ 33% of $125 million aggregate commitment	225.0	125.0

Business Segments (Schedule Of Net Sales By Geographic Area) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Segment Reporting Information [Line Items]
Net Sales by Geographic Area, Total	$ 698,731	$ 577,014	$ 551,566
United States
Segment Reporting Information [Line Items]
Net Sales by Geographic Area, Total	632,806	514,743	506,475
Exports From The United States \| Asia
Segment Reporting Information [Line Items]
Net Sales by Geographic Area, Total	42,399	46,724	26,217
Exports From The United States \| Canada
Segment Reporting Information [Line Items]
Net Sales by Geographic Area, Total	14,856	9,541	12,121
Exports From The United States \| Europe
Segment Reporting Information [Line Items]
Net Sales by Geographic Area, Total	37	97	9
Exports From The United States \| Latin America
Segment Reporting Information [Line Items]
Net Sales by Geographic Area, Total	7,437	5,068	6,192
Operations Outside The United States \| Asia
Segment Reporting Information [Line Items]
Net Sales by Geographic Area, Total	$ 1,196	$ 841	$ 552

Consolidated Statements Of Shareholders' Equity (Parenthetical)	12 Months Ended
	Dec. 31, 2023 $ / shares
Statement of Stockholders' Equity [Abstract]
Cash dividends declared (in usd per share)	$ 0.26

Inventories (Tables)

12 Months Ended

Dec. 31, 2025

Inventory, Net [Abstract]

Schedule Of Inventories

Inventories consist of the following:


(In thousands)	2025		2024
Finished goods	$	17,578	$	15,051
Work-in-process	3,574		2,986
Raw materials	20,365		12,158
Stores, supplies and other	23,445		21,186
Total	$	64,962	$	51,381

Business Segments (Tables)

12 Months Ended

Dec. 31, 2025

Segment Reporting [Abstract]

Schedule Of Segment Reporting Information By Segment

Information by business segment and geographic area for the last three years is provided in the segment tables below. There were no accounting transactions between segments.


Segment Revenue, Segment Profit (Loss), and Significant Expenses
	2025
(In thousands)	Aluminum Extrusions		High Performance Films		Total
Net Sales	$	598,975	$	99,756	$	698,731
Reconciliation of revenue:
Add back freight					24,133
Sales as shown in the consolidated statements of income (loss)					$	722,864
Less:
Variable costs	454,249		46,596		500,845
LIFO inventory adjustment	6,741		212		6,953
Manufacturing fixed costs5	46,402		14,134		60,536
Selling, general and administrative costs5	38,461		11,618		50,079
Other6	2,164		59		2,223
EBITDA from ongoing operations	$	50,958	$	27,137	$	78,095
Reconciliation of profit (loss):
Depreciation and amortization					21,535
Plant shutdowns, asset impairments, restructurings and other1					2,790

Interest income					36
Interest expense					4,003

OPEB termination gain					6,265
Corporate expenses, net4					25,399
Income (loss) from continuing operations before income tax					30,669
Income tax expense (benefit)					6,584
Net income (loss) from continuing operations					24,085
Income (loss) from discontinued operations, net of tax					9,391
Net income (loss)					$	33,476

Refer to Notes to Financial Tables that follow these tables.


Segment Revenue, Segment Profit (Loss), and Significant Expenses
	2024
(In thousands)	Aluminum Extrusions		High Performance Films		Total
Net Sales	$	471,815	$	105,199	$	577,014
Reconciliation of revenue:
Add back freight					21,011
Sales as shown in the consolidated statements of income (loss)					$	598,025
Less:
Variable costs	354,397		50,289		404,686
LIFO inventory adjustment	1,234		(174)		1,060
Manufacturing fixed costs5	40,123		13,248		53,371
Selling, general and administrative costs5	33,638		11,245		44,883
Other6	1,066		105		1,171
EBITDA from ongoing operations	$	41,357	$	30,486	$	71,843
Reconciliation of profit (loss):
Depreciation and amortization					22,922
Plant shutdowns, asset impairments, restructurings and other1					5,766
Goodwill impairment					13,271
Interest income					36
Interest expense					4,664
Gain on investment in kaleo, inc.					144


Corporate expenses, net4					24,520
Income (loss) from continuing operations before income tax					880
Income tax expense (benefit)					(165)
Net income (loss) from continuing operations					1,045
Income (loss) from discontinued operations, net of tax					(65,610)
Net income (loss)					$	(64,565)

Refer to Notes to Financial Tables that follow these tables.


Segment Revenue, Segment Profit (Loss), and Significant Expenses
	2023
(In thousands)	Aluminum Extrusions		High Performance Films		Total
Net Sales	$	474,803	$	76,763	$	551,566
Reconciliation of revenue:
Add back freight					21,757
Sales as shown in the consolidated statements of income (loss)					$	573,323
Less:
Variable costs	365,320		40,824		406,144
LIFO inventory adjustment	(944)		(1,333)		(2,277)
Manufacturing fixed costs5	41,028		13,793		54,821
Selling, general and administrative costs5	29,725		12,106		41,831
Other6	1,698		156		1,854
EBITDA from ongoing operations	$	37,976	$	11,217	$	49,193
Reconciliation of profit (loss):
Depreciation and amortization					24,449
Plant shutdowns, asset impairments, restructurings and other1					8,529
Goodwill impairment					34,891
Interest income					514
Interest expense					6,316
Gain on investment in kaleo, inc.					262
Stock option-based compensation expense					231
Pension settlement loss					92,291
Corporate expenses, net4					33,727
Income (loss) from continuing operations before income tax					(150,465)
Income tax expense (benefit)					(51,300)
Net income (loss) from continuing operations					(99,165)
Income (loss) from discontinued operations, net of tax					(6,740)
Net income (loss)					$	(105,905)

Schedule Of Identifiable Assets


Identifiable Assets
(In thousands)	2025		2024
Aluminum Extrusions	$	269,802	$	247,205
High Performance Films	52,998		55,081
Subtotal	322,800		302,286
General corporate	41,843		46,883
Cash and cash equivalents2	6,729		7,062
Discontinued operations	—		126
Total	$	371,372	$	356,357

Schedule Of Depreciation And Amortization, Capital Expenditures


	Depreciation and Amortization						Capital Expenditures
(In thousands)	2025		2024		2023		2025		2024		2023
Aluminum Extrusions	$	16,640	$	17,722	$	17,927	$	15,392	$	10,097	$	20,339
High Performance Films	4,895		5,200		6,522		1,849		1,761		1,772
Subtotal	21,535		22,922		24,449		17,241		11,858		22,111
General corporate4	194		302		369		—		—		12
Discontinued operations	—		2,313		2,865		—		2,489		4,323
Total	$	21,729	$	25,537	$	27,683	$	17,241	$	14,347	$	26,446

Schedule Of Net Sales By Geographic Area


Net Sales by Geographic Area3
(In thousands)	2025		2024		2023
United States	$	632,806	$	514,743	$	506,475
Exports from the United States to:
Asia	42,399		46,724		26,217
Canada	14,856		9,541		12,121
Europe	37		97		9
Latin America	7,437		5,068		6,192
Operations outside the United States:
Asia	1,196		841		552
Total	$	698,731	$	577,014	$	551,566

Schedule Of Identifiable Assets By Geographic Area, Property, Plant & Equipment, Net By Geographic Area


	Identifiable Assets by Geographic Area3				Property, Plant & Equipment, Net by Geographic Area3
(In thousands)	2025		2024		2025		2024
United States	$	316,412	$	294,303	$	126,234	$	127,992
Operations outside the United States:
China	6,388		7,983		5,555		7,217
General corporate	41,843		46,883		1,186		1,823
Cash and cash equivalents2	6,729		7,062		n/a		n/a
Discontinued operations	—		126		—		—
Total	$	371,372	$	356,357	$	132,975	$	137,032

Schedule Of Net Sales By Product Group


Net Sales by Product Group
(In thousands)	2025		2024		2023
Aluminum Extrusions:
Nonresidential building & construction	$	317,064	$	265,496	$	273,648
Consumer durables	48,774		31,911		37,257
Automotive	44,581		39,283		46,014
Machinery & equipment	71,928		51,149		41,908
Distribution	19,248		11,750		13,719
Residential building & construction	41,374		36,303		36,774
Electrical	56,006		35,923		25,483
Subtotal	598,975		471,815		474,803
High Performance Films:
Surface protection films	71,852		75,909		47,463
Advanced packaging	27,904		29,290		29,300

Subtotal	99,756		105,199		76,763

Total	$	698,731	$	577,014	$	551,566

1.See Note 1 for more information on losses associated with plant shutdowns, asset impairments and restructurings and other items.

2.Cash and cash equivalents includes funds held in locations outside the U.S. of $1.9 million and $1.6 million at December 31, 2025 and 2024, respectively.

3.Export sales relate primarily to High Performance Films.

4.Corporate depreciation and amortization are included in corporate expenses, net, on the Segment Revenue, Segment Profit (Loss), and Significant Expenses tables above.

5.Excludes related depreciation and amortization.

6.Other expenses include segment allocated employee compensation benefits expense.

Accounts And Other Receivables (Schedule Of Accounts And Other Receivable) (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Accounts and Financing Receivable, after Allowance for Credit Loss [Abstract]
Customer receivables	$ 80,027	$ 64,094
Other receivables	2,095	952
Customer receivables	82,122	65,046
Less: Allowance for credit losses	(311)	(229)
Total accounts and other receivables, net	$ 81,811	$ 64,817

Summary Of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2025

Accounting Policies [Abstract]

Basis Of Presentation

Basis of Presentation and Principles of Consolidation. The consolidated financial statements include the accounts and operations of the Company and have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”). Intercompany balances and transactions have been eliminated in consolidation. Certain amounts for the prior years have been reclassified to conform to current year presentation.

Foreign Currency Translation

Foreign Currency Translation. The financial statements of subsidiaries located outside the U.S., where the local currency is the functional currency, are translated into U.S. Dollars using exchange rates in effect at the period end for assets and liabilities and average exchange rates during each reporting period for results of operations. Adjustments resulting from the translation of these financial statements are reflected as a separate component of shareholders’ equity. There are no operating subsidiaries located outside the U.S. where the U.S. Dollar is the functional currency. Transaction and remeasurement gains or losses included in the consolidated statements of income (loss) were losses of $0.3 million in 2025 and gains of $0.3 million and $0.2 million in 2024 and 2023, respectively.

Cash And Cash Equivalents

Cash and Cash Equivalents. Cash and cash equivalents consist of cash on hand in excess of daily operating requirements and highly liquid investments with original maturities of three months or less. At December 31, 2025 and 2024, Tredegar had cash and cash equivalents of $6.7 million and $7.1 million, respectively, including funds held in locations outside the U.S. of $1.9 million and $1.6 million, respectively.

The Company’s policy permits investment of excess cash in marketable securities that have the highest credit ratings and maturities of less than one year. The primary objectives of the policy are safety of principal and liquidity.

Accounts And Other Receivables

Accounts and Other Receivables, net. Accounts receivables are stated at the amount invoiced to customers less allowances for credit losses. Accounts receivable are non-interest bearing and arise from the sale of products to customers under typical industry trade terms. Notes receivable are immaterial. Past due amounts are determined based on established terms and charged-off when deemed uncollectible. The allowance for credit losses is determined based on an assessment of probable losses taking into account past due amounts, customer credit profile, historical experience and current economic conditions. For receivables that do not have a specific allowance, the loss rate is computed by segment to apply to the remaining receivables balance, using

each segment’s historic loss rate. Other receivables include value-added taxes related to certain foreign subsidiaries and other miscellaneous receivables due within one year. For certain customers, the Company has arrangements in place with financial institutions whereby certain customer receivables are sold to the financial institution at a discount and without recourse. Upon sale, the associated receivable is unrecognized, and the discount is recognized. For more information on accounts and other receivables, net, see Note 2.

Inventories

Inventories. Inventories are stated at the lower of cost or net realizable value, with cost determined using the last in, first out (“LIFO”) method, the weighted average cost or the first in, first out (“FIFO”) method. Cost elements included in work-in-process and finished goods inventories are raw materials, direct labor and manufacturing overhead. Finished goods, work-in-process, raw materials and supplies, stores and other inventory are reviewed to determine if inventory quantities are in excess of forecasted usage or if they have become obsolete.

Property, Plant And Equipment

Property, Plant and Equipment. Accounts include costs of assets constructed or purchased, related delivery and installation costs and interest incurred on significant capital projects during their construction periods. Expenditures for renewals and betterments also are capitalized, but expenditures for repairs and maintenance are expensed as incurred. The cost and accumulated depreciation applicable to assets retired or sold are removed from the respective accounts, and gains or losses thereon are included in income. Capital expenditures for property, plant and equipment include capitalized interest. Capitalized interest included in capital expenditures for property, plant and equipment was $1.6 million, $1.9 million, and $1.6 million in 2025, 2024 and 2023, respectively. Depreciation is computed primarily by the straight-line method based on the estimated useful lives of the assets that generally range from 5 to 40 years for buildings and land improvements and 2 to 20 years for machinery and equipment.

Goodwill And Other Intangibles

Goodwill and Identifiable Intangibles. The excess of the purchase price over the fair value of identifiable net assets of acquired companies is allocated to 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). When assessing goodwill for impairment, accounting guidance allows the Company to first perform a qualitative assessment (“Step 0 analysis”), which evaluates certain qualitative factors, including macroeconomic conditions, industry and market considerations, cost factors and overall financial performance, as well as company and reporting unit factors. If the Company's Step 0 analysis indicates that it is more likely than not that the fair value of a reporting unit is less than its carrying amount, then the Company would perform a quantitative impairment test (“Step 1 analysis”).

As of December 31, 2025, the Company’s reporting unit with goodwill was Surface Protection in High Performance Films. The Company’s Step 0 analysis as of December 1, 2025 of this reporting unit concluded that it was not more likely than not that the fair value of the reporting unit was less than its carrying amount. Therefore, the Step 1 quantitative goodwill impairment test for this reporting unit was not necessary as of December 1, 2025.

As of December 31, 2025 and 2024, Surface Protection had goodwill of $22.4 million.

During 2024, customers of the Aluminum Extrusions’ Clearfield, Utah operation ("Clearfield") acquired as “Futura” in February 2017 continued to seek supply from other sources to meet their demand, including imports. However, in 2024, Clearfield continued to experience a resurgence in customer volumes that had declined due to the pandemic, albeit not at the speed and profit level that was previously projected. The recovery has been slower than previously anticipated, and is not trending back to previous Company expectations to replicate the EBITDA and net cash flow generation that existed prior to the pandemic-related disruptions and influx of imports.

As a consequence, the Company performed a goodwill impairment analysis during the fourth quarter of 2024 using Clearfield projections that assume the continuation of lower margin business. Since the estimated fair value of Clearfield fell below its carrying value by more than the amount of goodwill, the Company recognized a non-cash write-off of goodwill of $13.3 million ($10.4 million after deferred income tax benefits) associated with Clearfield.

The Company estimated the fair value of Clearfield by: (i) computing an estimated enterprise value (“EV”) utilizing the discounted cash flow method (the “DCF Method”), and (ii) adding cash and cash equivalents. Key financial assumptions utilized to determine the fair value of the reporting unit include sales volume and sales price growth projections.

During 2023, uncertainty about the timing of a recovery in the consumer electronics market persisted, and manufacturers in the supply chain for consumer electronics continued to experience reduced capacity utilization and inventory corrections. In light of the limited visibility on the timing of a recovery and the expected adverse future impact to the Surface Protection business, coupled with a cautious outlook on new product development opportunities, the Company performed a Step 1 goodwill impairment analysis, as of June 30, 2023 and September 30, 2023, of the Surface Protection component of High Performance Films. The analyses concluded that the fair value of Surface Protection was less than its carrying value, thus a non-cash partial goodwill impairment of $34.9 million ($27.0 million after deferred income tax benefits) was recognized during 2023.

The Company estimated the fair value of Surface Protection by: (i) computing an estimated EV utilizing 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, incorporating Surface Protection’s latest projections, which reflect updated expected market recovery levels, feasibility of launching new product applications, competitive pricing and cash flows associated with production efficiencies, as well as consideration of cost savings and inventory corrections.

For more information on goodwill and identifiable intangibles, see Note 5.

Impairment Of Long-Lived Assets

Impairment of Long-Lived Assets. The Company reviews long-lived assets for possible impairment when events indicate that an impairment may exist. For assets that are held and used in operations, if events indicate that an asset may be impaired, the Company estimates the future unlevered pre-tax cash flows expected to result from the use of the asset and its eventual disposition. Assets are grouped for this purpose at the lowest level for which there are identifiable and independent cash flows. If the sum of these undiscounted pre-tax cash flows is less than the carrying amount of the asset group, an impairment loss is calculated. Measurement of the impairment loss is the amount by which the carrying amount exceeds the estimated fair value of the asset group. Assets that are held for sale are reported at the lower of their carrying amount or estimated fair value less cost to sell, with an impairment loss recognized for any write-down required.

As of December 31, 2025, no events were identified that indicated long-lived assets may be impaired.

In the fourth quarter of 2024, due to the same factors discussed above, the Aluminum Extrusions’ Clearfield reporting unit, which is also an asset group, required the Company to perform a recoverability test of its long-lived identifiable assets using the same projections used in the DCF Method by comparing the undiscounted future cash flows to the net carrying value of the asset group. As the undiscounted cash flows of the Clearfield asset group was greater than the carrying amount as of December 31, 2024, no long-lived impairment loss was recognized in 2024.

Pension Costs And Postretirement Benefit Costs Other Than Pensions

Pension Costs and Postretirement Benefit Costs Other than Pensions. Pension costs and postretirement benefit costs other than pensions have been accrued over the period employees provided service to Tredegar. Liabilities and expenses for pension plans and other postretirement benefits are determined using actuarial methodologies and incorporate significant assumptions, including the rate used to discount the future estimated liability, the long-term rate of return on plan assets, and several assumptions relating to the employee workforce. The Company recognizes the funded status of its pension and other postretirement plans in the accompanying consolidated balance sheets. Tredegar’s policy has been to fund its pension plans at amounts not less than the minimum requirements of the Employee Retirement Income Security Act (“ERISA”) of 1974 and to fund postretirement benefits other than pensions when claims are incurred.

In February 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. In October 2025, the Company terminated the Other Post-Retirement Benefits program. For more information, see Note 8.

Revenue Recognition

Revenue Recognition. The Company’s revenue is primarily generated from the sale of finished products to customers. Those sales predominantly contain a single performance obligation and revenue is recognized at the point in time when control of the product is transferred to customers, along with the title, risk of loss and rewards of ownership. Depending on the arrangement with the customer, these criteria are met either at the time the product is shipped or when the product is made available or delivered to the destination specified in the agreement with the customer.

Sales revenue is recognized in an amount that reflects the consideration the Company expects to be entitled to in exchange for that finished product. The Company offers various discounts, rebates and allowances to customers, (collectively, “allowances”), all of which are considered when determining the transaction price. Certain allowances are fixed and determinable at the time of sale and are recorded at the time of sale as a reduction to revenues. Other allowances can vary depending on future outcomes such as sales returns and customer sales volume, thus representing variable consideration.

Amounts billed to customers related to freight are classified as sales revenue and the cost of freight is classified as a separate line in the accompanying consolidated statements of income. Taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction between Tredegar and its customers (such as value-added taxes) are accounted for on a net basis and therefore excluded from revenues. See Note 12 for disaggregation of revenue by segment and type.

Revenue expected to be recognized in any future period related to remaining performance obligations, excluding (i) revenue pertaining to contracts that have an original expected duration of one year or less, (ii) contracts where revenue is recognized as invoiced and (iii) variable consideration related to unsatisfied performance obligations, is not expected to materially impact the Company’s financial results.

Research & Development ("R&D") Costs

Research and Development (“R&D”) Costs. R&D costs are expensed as incurred and include primarily salaries, wages, employee benefits, equipment depreciation, facility costs and the cost of materials consumed relating to R&D efforts. R&D costs include a reasonable allocation of indirect costs.

Lessee, Leases

Leases. At inception, the Company determines if an arrangement contains a lease and whether that lease meets the classification criteria of a finance or operating lease. The Company has elected to not record short-term leases with an original lease term of one year or less in the consolidated balance sheet. To the extent such leases contain renewal options that the Company intends to exercise, the related Right-of-Use (“ROU”) asset and lease liability are included in the consolidated balance sheet. Some of the Company’s lease arrangements contain lease components (e.g., minimum rent payments) and non-lease components (e.g., maintenance, labor charges, etc.). The Company generally accounts for the lease and non-lease components as a single lease component.

Certain of the Company’s lease agreements include rental payments that are adjusted periodically for an index or rate. The leases are initially measured using the projected payments adjusted for the index or rate in effect at the commencement date. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants.

Operating leases are included in “Right-of-use lease assets”, “Lease liabilities - short-term” and “Lease liabilities - long-term” on the consolidated balance sheets. These assets and liabilities are recognized at the commencement date based on the present value of remaining lease payments over the lease term using the Company’s secured incremental borrowing rates, adjusted for term and geographic location using country-based swap rates. As a result of the Company’s review of new and existing lease contracts, there were no instances where the Company could readily determine a rate implicit in the lease.

Lease expense for operating leases is recognized on a straight-line basis over the lease term. Variable lease expense is recognized in the period in which the obligation for those payments is incurred. Depending upon the specific use of the ROU asset, lease expense is included in the “Cost of goods sold”, “Freight”, “Selling, general and administrative”, and “Research and development” line items on the consolidated statements of income. Lease income is not material to the results of operations for the years ended December 31, 2025, 2024 and 2023, respectively. Additional disclosure regarding Tredegar’s leases is included in Note 4.

Income Taxes

Income Taxes. Income taxes are recognized during the period in which transactions enter into the determination of income for financial reporting purposes, with deferred income taxes being provided at enacted statutory tax rates on the differences between the financial reporting and tax bases of assets and liabilities (see Note 11). Current tax liabilities and assets are recognized for the estimated taxes payable or refundable, respectively, on the tax returns for the current year. Deferred tax assets and liabilities are determined based on differences between financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. Accordingly, accounting for income taxes represents the Company’s best estimate of various events and transactions.

A valuation allowance is recorded in the period when the Company determines that it is more likely than not that all or a portion of deferred income tax assets may not be realized. The establishment and removal of a valuation allowance requires the Company to consider all positive and negative evidence and make a judgmental decision regarding the amount of valuation allowance required as of a reporting date. The benefit of an uncertain tax position is included in the accompanying financial statements when the Company determines that it is more likely than not that the position will be sustained, based on the technical merits of the position, if the taxing authority examines the position and the dispute is litigated. This determination is made on the basis of all the facts, circumstances and information available as of the reporting date.

Earnings Per Share

Earnings Per Share. Basic earnings per share is computed using the weighted average number of shares of common stock outstanding. Diluted earnings per share is computed using the weighted average common and potentially dilutive common equivalent shares outstanding, determined as follows:


	2025	2024	2023
Weighted average shares outstanding used to compute basic earnings per share	34,735,139	34,346,242	34,133,078
Incremental shares attributable to stock options and restricted stock	—	—	—
Shares used to compute diluted earnings per share	34,735,139	34,346,242	34,133,078

Incremental shares attributable to stock options and restricted stock are computed under the treasury stock method using the average market price during the related period. The average out-of-the-money options to purchase shares that were excluded from the calculation of incremental shares attributable to stock options and restricted stock were 1,245,367 and 2,497,008 for the years ended December 31, 2025 and 2024, respectively. The Company had a net loss from continuing operations for the year ended December 31, 2023, so there is no dilutive impact for such shares. If the Company had reported net income from continuing operations for the year ended December 31, 2023, average out-of-the-money options to purchase shares that were excluded from the calculation of incremental shares attributable to stock options and restricted stock would have been 2,925,091.

Stock-Based Employee Compensation Plans

Stock-Based Employee Compensation Plans. The cost of all share-based payments is recognized using the calculated fair value at the grant date, or the date of any later modification, over the requisite service period under the graded-vesting method. See Note 10 for additional information.

Financial Instruments

Financial Instruments. Tredegar uses derivative financial instruments for the purpose of hedging aluminum price volatility. The Company’s derivative financial instruments are designated as and qualify as cash flow hedges and are recognized in the accompanying balance sheet at fair value. A change in the fair value of the derivative that is highly effective and that is designated and qualifies as a cash flow hedge is recorded in other comprehensive income. 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 in the same line as the underlying hedged item, and the cash flows related to financial instruments are classified in the consolidated statements of cash flows in a manner consistent with those of the transactions being hedged.

The Company’s policy requires that it formally document all relationships between hedging instruments and hedged items, as well as its risk management objective and strategy for undertaking various hedge transactions. The Company also uses regression analysis, unless the hedge qualifies for other methods of assessing effectiveness, to formally assess (both at the hedge’s inception and on an ongoing basis) whether the derivatives that are used in hedging transactions have been highly effective in offsetting changes in the fair value or cash flows of hedged items and whether those derivatives may be expected to remain highly effective in future periods. When it is determined that a derivative is not (or has ceased to be) highly effective as a hedge, the Company discontinues hedge accounting prospectively.

As a policy, Tredegar does not engage in speculative or leveraged transactions, nor does it hold or issue financial instruments for trading purposes. Additional disclosure of the utilization of derivative hedging instruments is included in Note 9.

Comprehensive Income (Loss)

Comprehensive Income (Loss). Comprehensive income (loss) is defined as net income or loss as adjusted by other comprehensive income or loss items. Other comprehensive income (loss) includes changes in foreign currency translation adjustments; realized and unrealized gains and losses on derivative financial instruments; prior service costs and net gains or losses from pension and other postretirement benefit plans arising during the period; and amortization of these prior service costs and net gain or loss adjustments; and during the period, realized net actuarial loss for pension settlement all recorded net of deferred income taxes.

Recently Issued Accounting Standards

Recently Issued Accounting Standards.

New accounting pronouncements adopted in 2025:

In December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU 2023-09”) to improve the income tax disclosures related to the rate reconciliation and income taxes paid information and to improve the effectiveness of income tax disclosures. The amendments in this ASU require the Company to disclose specified additional information in its income tax rate reconciliation and provide additional information for reconciling items that meet a quantitative threshold. ASU 2023-09 also requires the Company to disaggregate its income taxes paid disclosure by federal, state and foreign taxes, with further disaggregation required for significant individual jurisdictions. This ASU is effective for annual periods beginning after December 15, 2024. The Company adopted this ASU in the fourth quarter of 2025 using the prospective method of transition. The adoption did not have a material impact on the Company’s consolidated financial statements.

Accounting standards not yet adopted:

In October 2023, the FASB issued ASU 2023-06 to amend various paragraphs in the Accounting Standards Codification (“ASC”) to primarily reflect the issuance of Securities and Exchange Commission (“SEC”) Staff Bulletin No. 33-10532. ASU 2023-06 will impact various disclosure areas, including the statement of cash flows, accounting changes and error corrections, earnings per share, debt, equity, derivatives, and transfers of financial assets. The amendments in this ASU 2023-06 will be effective on the date the related disclosures are removed from Regulation S-X or Regulation S-K by the SEC and will no longer be effective if the SEC has not removed the applicable disclosure requirement by June 30, 2027. Early adoption is not permitted. The Company does not expect a material impact from the adoption of this standard on our consolidated financial statements and related disclosures.

In November 2024, the FASB issued ASU 2024-03 to improve the disclosures about public business entity’s expenses and address requests from investors for more detailed information about the types of expenses in commonly presented expense captions. The amendments in this ASU will require the Company to disclose specified information about certain costs and expenses in the notes to the financial statements. This ASU is effective for annual periods beginning after December 15, 2026 and interim periods beginning after December 15, 2027. Early adoption is permitted. The Company is currently evaluating the impact of this standard on our consolidated financial statements and related disclosures.

In December 2025, the FASB issued ASU 2025-11 to amend the guidance in “Interim Reporting” (Topic 270). The update provides clarifications intended to improve the consistency and usability of interim disclosure requirements, including a comprehensive listing of required interim disclosures and a new disclosure principle for reporting material events occurring after the most recent annual period. The amendments do not change the underlying objectives of interim reporting but are designed to enhance clarity in application. The guidance is effective for fiscal years beginning after December 15, 2027, including interim periods within those fiscal years. The Company does not expect a material impact from the adoption of this standard on our consolidated financial statements and related disclosures.

Financial Instruments (Summary Of Location And Fair Value Of Derivative Financial Instruments) (Details) - Aluminum Futures Contracts - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Derivatives, Fair Value [Line Items]
Net asset (liability)	$ 1,379	$ 115
Designated as Hedging Instrument \| Prepaid expenses & other
Derivatives, Fair Value [Line Items]
Asset derivatives: Aluminum futures contracts	1,392	172
Designated as Hedging Instrument \| Accrued expenses (current)
Derivatives, Fair Value [Line Items]
Liability derivatives: Aluminum futures contracts	(4)	(57)
Designated as Hedging Instrument \| Pension and other postretirement benefit obligations, net
Derivatives, Fair Value [Line Items]
Liability derivatives: Aluminum futures contracts	$ (9)	$ 0

- Definition

Fair value, before effects of master netting arrangements, of a financial asset or other contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes assets elected not to be offset. Excludes assets not subject to a master netting arrangement.

+ References + Details

- Definition

Fair value, before effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes liabilities elected not to be offset. Excludes liabilities not subject to a master netting arrangement.

+ References + Details

Stock Option And Stock Award Plans (Summary Of Additional Information On Stock Options Outstanding And Exercisable) (Details) - - To 15.00 $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2025 USD ($) $ / shares shares
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise Prices, Minimum	$ 10.75
Range of Exercise Prices, Maximum	$ 16.37
Options Outstanding, Shares \| shares	1,205,105
Options Outstanding, Weighted Average, Remaining Contractual Life (Years)	1 year 4 months 24 days
Options Outstanding, Weighted Average, Exercise Price	$ 12.90
Options Outstanding, Aggregate Intrinsic Value \| $	$ 0
Options Exercisable, Shares \| shares	1,205,105
Options Exercisable, Weighted Average Exercise Price	$ 12.90
Options Exercisable, Aggregate Intrinsic Value \| $	$ 0

Contingencies	12 Months Ended
Contingencies	Dec. 31, 2025
Commitments and Contingencies Disclosure [Abstract]
Contingencies	14. CONTINGENCIES Tredegar is involved in various stages of investigation and remediation relating to environmental matters at certain current and former plant locations. Where the Company has determined the nature and scope of any required environmental remediation activity, estimates of cleanup costs have been obtained and accrued. As efforts to maintain compliance with applicable environmental laws and regulations continue, additional contingencies may be identified. If additional contingencies are identified in the future, the Company’s practice is to determine at that time the nature and scope of those contingencies, obtain and accrue estimates of the cost of remediation, and perform remediation. While the Company believes it is currently adequately accrued for known environmental issues, it is possible that unexpected future costs for known or unknown environmental issues could have a material adverse effect on its financial condition, results of operations and cash flows at that time. The Company is involved in various other legal actions arising in the normal course of business. After taking into consideration the relevant information, the Company believes that it has sufficiently accrued for probable losses and that the actions will not have a material adverse effect on its financial position. From time to time, the Company enters into transactions with third parties in connection with the sale of assets or businesses in which it agrees to indemnify the buyers or third parties involved in the transaction, or in which the sellers or third parties involved in the transaction agree to indemnify Tredegar, for certain liabilities or risks related to the assets or business. Also, in the ordinary course of its business, the Company may enter into agreements with third parties for the sale of goods or services that may contain indemnification provisions. In the event that an indemnification claim is asserted, liability for indemnification would be subject to an assessment of the underlying facts and circumstances under the terms of the applicable agreement. For these reasons, Tredegar is unable to estimate the maximum amount of the potential future liability under the indemnity provisions of these agreements. The Company does, however, accrue for losses for any known contingent liability, including those that may arise from indemnification provisions, when future payment is probable and the amount is reasonably estimable. The Company discloses contingent liabilities if the probability of loss is reasonably possible and considered to be material. Under the terms of the agreement pursuant to which the Company sold its former flexible packaging business headquartered in Brazil to Oben, the Company agreed to indemnify Oben for certain liabilities related to Terphane. On January 16, 2026, Oben informed the Company that Terphane received a tax infraction notice from the State Treasury of Pernambuco (“State Treasury”) providing an assessment for the collection of ICMS state value-added tax as well as interest and penalties alleging Terphane made use of certain tax credits without complying with the requirements for the use of such tax credits, for the 2021 and 2022 tax years. The Company assumed the defense of the matter and filed a response with the State Treasury contesting the assessment. The proceedings are in the early stages of the administrative review process. Any adverse outcomes at the administrative level will be eligible for appeal through judicial processes. The Company has not recorded any liability relating to this notice and cannot reasonably estimate any reasonably possible loss at this time.

Stock Option And Stock Award Plans (Tables)

12 Months Ended

Dec. 31, 2025

Share-Based Payment Arrangement [Abstract]

Summary Of Stock Options Outstanding

A summary of stock options outstanding at December 31, 2025, 2024 and 2023, and changes during those years, is presented below:


		Option Exercise Price/Share
	Number of Options	Range					Weighted Average
Outstanding at January 1, 2023	3,108,741	$	10.75	to	$	22.49	$	13.81

Forfeited and expired	(89,408)	13.78		to	19.64		19.60

Outstanding at December 31, 2023	3,019,333	10.75		to	22.49		13.64

Forfeited and expired	(691,678)	10.75		to	22.49		14.15

Outstanding at December 31, 2024	2,327,655	10.75		to	16.37		13.49

Forfeited and expired	(1,122,550)	10.75		to	16.37		14.13

Outstanding at December 31, 2025	1,205,105	$	10.75	to	$	16.37	$	12.90

Summary Of Additional Information On Stock Options Outstanding And Exercisable

The following table summarizes additional information about stock options outstanding and exercisable at December 31, 2025:


					Options Outstanding at December 31, 2025						Options Exercisable at December 31, 2025
						Weighted Average			Aggregate Intrinsic Value					Aggregate Intrinsic Value
Range of Exercise Prices					Shares	Remaining Contractual Life	Exercise Price				Shares	Weighted Average Exercise Price
$	10.75	to	$	16.37	1,205,105	1.4 years	$	12.90	$	—	1,205,105	$	12.90	$	—

Summary Of Additional Information On Non-Vested Restricted Stock Outstanding

The following table summarizes additional information about unvested restricted stock awards outstanding at December 31, 2025, 2024 and 2023:


	Unvested Restricted Stock Awards
	Number of Shares	Weighted Avg. Grant Date Fair Value/Share		Grant Date Fair Value (In thousands)
Outstanding at January 1, 2023	474,978	$	13.82	$	6,564
Granted	454,623	7.67		3,487
Vested	(167,077)	11.29		(1,886)
Forfeited	(26,445)	11.60		(307)
Outstanding at December 31, 2023	736,079	10.68		7,861
Granted	385,159	7.25		2,792
Vested	(261,941)	11.94		(3,128)
Forfeited	(87,181)	8.51		(742)
Outstanding at December 31, 2024	772,116	8.79		6,787
Granted	342,181	7.15		2,447
Vested	(262,375)	11.05		(2,899)
Forfeited	(173,159)	7.45		(1,290)
Outstanding at December 31, 2025	678,763	$	7.43	$	5,043

Share-based Payment Arrangement, Stock Appreciation Right, Activity

A summary of SARs outstanding at December 31, 2025, 2024 and 2023, and changes during those years, is presented below:


		Exercise Price/Share
	Number of SARs	Range					Weighted Average
Outstanding at January 1, 2023	498,687	$	10.75	to	$	16.37	$	13.49

Forfeited and expired	(53,969)	10.75		to	16.37		12.78

Outstanding at December 31, 2023	444,718	10.75		to	16.37		13.57

Forfeited and expired	(110,272)	10.75		to	16.37		13.85

Outstanding at December 31, 2024	334,446	10.75		to	16.37		13.48

Forfeited and expired	(5,340)	10.75		to	16.37		15.25

Outstanding at December 31, 2025	329,106	$	10.75	to	$	16.37	$	13.45

Stock Option And Stock Award Plans (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2022
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Total stock options available for grant	1,678,682
Options may be granted to purchase specified number of common shares under stock option plan, maximum term	10 years
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	1,205,105	3,019,333	2,327,655	3,108,741
The grant-date fair value of stock option-based awards vested		$ 2.2
Non-Vested Restricted Stock And Other Stock-Based Awards
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	$ 2.0
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	1 year 8 months 12 days

Leases, Codification Topic 842 (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Leases [Abstract]
Lessee, Operating Lease, Term of Contract	18 years
2026	$ 2,833
2027	2,430
2028	2,196
2029	2,205
2030	2,223
Thereafter	3,481
Total undiscounted operating lease payments	15,368
Less: Imputed interest	2,145
Present value of operating lease liabilities	13,223
Operating lease expense	$ 2,855	$ 4,350
Weighted-average remaining lease term for operating leases	9 years	10 years
Weighted-average discount rate for operating leases	4.81%	4.77%

Debt And Credit Agreements

12 Months Ended

Dec. 31, 2025

Debt Disclosure [Abstract]

Debt And Credit Agreements

7. DEBT AND CREDIT AGREEMENTS

ABL Facility

In May 2025, the Company entered into Amendment No. 5 (“Amendment No. 5”) to the Second Amended and Restated Credit Agreement (the "ABL Facility"), which provides the Company with a $125 million senior secured asset-based revolving credit facility. 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, and owned machinery and equipment. Amendment No. 5 extended the maturity date of the ABL Facility to May 6, 2030. As of December 31, 2025, funds available to borrow under the ABL Facility was $87.5 million, or 70.0% of the aggregate commitment of $125 million. During 2025, the Company's letters of credit have been reduced from approximately $12 million to $3 million, which directly increases the Company's borrowing availability.

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 the applicable ABR Spread (as defined in the ABL Facility) 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 the applicable Term Benchmark Spread (as defined in the ABL Facility) determined in accordance with an excess availability-based pricing grid. 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%.

As amended by Amendment No. 5, based upon the quarterly average of daily availability under the ABL Facility, the interest rate pricing grid, is as follows:


Pricing under the ABL Facility (Basis Points)
Quarter Average of Daily Availability	Term Benchmark Spread	ABR Spread
> 66% of $125 million aggregate commitment	175.0	75.0
≤ 66% but > 33% of $125 million aggregate commitment	200.0	100.0
≤ 33% of $125 million aggregate commitment	225.0	125.0

Pursuant to Amendment No. 5, the commitment fee was decreased from 0.40% to (i) 0.25% if the Average Usage (as defined in the ABL Facility) is greater than or equal to 50% and (ii) 0.375% if Average Usage is less than 50%.

The borrowing base calculation was amended by Amendment No. 5 as follows: (i) real property is no longer eligible to be included in the borrowing base, (ii) the PP&E Component (as defined in the ABL Facility), as included in the borrowing base, was decreased to the lesser of (a) 60% of the Net Orderly Liquidation Value (as defined in the ABL Facility) in place of eligible equipment and (b) 30% of the borrowing base and (iii) the amount of eligible cash included in the borrowing base is now capped at 15% of the borrowing base.

The financial covenant is a minimum fixed charge coverage ratio (as defined in the ABL Facility) of 1.00:1.00 that will be triggered in the event that availability is less than the greater of (x) 10% of the Line Cap (as defined in the ABL Facility) and (y) $10 million and will continue until availability is equal to or greater than the greater of (x) 10% of the Line Cap and (y) $10 million for 30 consecutive days, as long as no events of default are continuing.

If at any time the availability under the ABL facility is less than the greater of (x) 20% of the Line Cap and (y) $20 million and until such subsequent date, if any, on which availability is greater than the greater of (x) 20% of the Line Cap and (y) $20 million for a period of thirty (30) consecutive calendar days, the Company’s current monthly reporting requirements to lenders changes to a weekly cadence.

A Cash Dominion Period (as defined in the ABL Facility) is now triggered when (x) availability falls below the greater of (i) 12.5% of the Line Cap and (ii) $12.6 million or (y) during the continuation of an event of default and continuing until (x) availability is above the greater of (i) 12.5% of the Line Cap and (ii) $12.6 million for 30 consecutive days and (y) no events of default are continuing. During a Cash Dominion Period, receipts that have not yet been applied to the ABL Facility are classified as restricted cash in the Company’s consolidated balance sheets.

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, 2024). 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.

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 December 31, 2025, the Company was in compliance with all debt covenants.

High Performance Films Guangzhou Loan

In October 2025, High Performance Films' business location in Guangzhou, China, Guangzhou Tredegar Film Products Co., Ltd. (“Guangzhou Tredegar”), entered into a 3.5 million Chinese Yuan, which is equivalent to $0.5 million as of December 31, 2025, unsecured revolving loan with the Industrial and Commercial Bank of China. The loan matures on October 20, 2026. The interest rate is the one-year loan prime rate published by the National Interbank Funding Center for the working day immediately preceding the drawdown date, minus 0.55%. As of December 31, 2025, the National Interbank Funding Center rate was 3.00%. The financial covenants require that the total amount of Guangzhou Tredegar’s current liabilities cannot exceed 50% of the total amount of current assets and the short-term financing amount cannot exceed 50% of Guangzhou Tredegar’s total sales.

In June 2024, Guangzhou Tredegar entered into a 9.5 million Chinese Yuan revolving loan with the Industrial and Commercial Bank of China. This loan matured on July 3, 2025. The interest rate was the one year loan prime rate published by the National Interbank Funding Center for the working day immediately preceding the drawdown date, minus 0.45%. As of December 31, 2025, there was no outstanding loan balance. The revolving loan was secured by a mortgage contract listing the Guangzhou Tredegar factory building as collateral. The mortgage was cancelled during the fourth quarter of 2025.

Each Guangzhou Tredegar loan, as applicable, was presented as current debt on the consolidated balance sheet for the years ended December 31, 2025 and 2024.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Summary Of Significant Accounting Policies (Schedule Of Diluted Earnings Per Share Computed Using Weighted Average Common And Potentially Dilutive Common Equivalent Shares Outstanding) (Details) - shares	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Accounting Policies [Abstract]
Weighted average shares outstanding used to compute basic earnings per share	34,735,139	34,346,242	34,133,078
Incremental shares attributable to stock options and restricted stock	0	0	0
Shares used to compute diluted earnings per share	34,735,139	34,346,242	34,133,078

Retirement Plans And Other Postretirement Benefits (Schedule Of Expected Benefit Payments For Continuing Operations) (Details) - Pension Benefits $ in Thousands	Dec. 31, 2025 USD ($)
Defined Benefit Plan Disclosure [Line Items]
2026	$ 179
2027	170
2028	160
2029	151
2030	141
2031—2035	$ 576

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

Accrued Expenses (Schedule Of Accrued Expenses) (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Accrued Liabilities [Abstract]
Payrolls, related taxes and medical and other benefits	$ 8,312	$ 6,812
Incentive compensation	5,839	6,434
Workers’ compensation and disabilities	1,991	2,005
Vacation	1,806	1,668
Deferred revenue	1,513	0
Accrued utilities	1,279	1,164
Environmental liabilities	1,108	1,259
Customer rebates	553	540
Accrued interest	221	231
Accrued freight	135	213
Derivative contract liability	4	80
Other	2,650	1,762
Accrued expenses	$ 25,411	$ 22,168
Derivative Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accrued expenses	Accrued expenses

Retirement Plans And Other Postretirement Benefits (Reconciliation Of Changes In Benefit Obligations And Plan Assets) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Pension Benefits
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Benefit obligation, beginning of year	$ 1,478	$ 1,600
Service cost	0	0	$ 0
Interest cost	78	75	9,623
Effect of actuarial (gains) losses related to the following:
Discount rate change	39	(60)
Other	(20)	47
Plan participant contributions	0	0
Benefits paid	199	184
Termination of Other Post-Retirement Benefits plan	0	0
Benefit obligation, end of year	1,376	1,478	1,600
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Plan assets at fair value, beginning of year	0	0
Actual return on plan assets	0	0
Employer contributions	199	184
Plan participant contributions	0	0
Benefits paid	199	184
Plan assets at fair value, end of year	0	0	0
Funded status of the plans	(1,376)	(1,478)
Amounts recognized in the consolidated balance sheets:
Net amount recognized	1,376	1,478
Other Post- Retirement Benefits
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Benefit obligation, beginning of year	5,078	5,712
Service cost	9	9	10
Interest cost	225	274	288
Effect of actuarial (gains) losses related to the following:
Discount rate change	166	(305)
Other	(93)	(193)
Plan participant contributions	357	456
Benefits paid	725	875
Termination of Other Post-Retirement Benefits plan	(5,017)	0
Benefit obligation, end of year	0	5,078	5,712
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Plan assets at fair value, beginning of year	0	0
Actual return on plan assets	0	0
Employer contributions	368	419
Plan participant contributions	357	456
Benefits paid	725	875
Plan assets at fair value, end of year	0	0	$ 0
Funded status of the plans	0	(5,078)
Amounts recognized in the consolidated balance sheets:
Net amount recognized	0	5,078
Accrued expenses (current) \| Pension Benefits
Amounts recognized in the consolidated balance sheets:
Accrued expenses (current)	180	161
Accrued expenses (current) \| Other Post- Retirement Benefits
Amounts recognized in the consolidated balance sheets:
Accrued expenses (current)		481
Pension and other postretirement benefit obligations, net \| Pension Benefits
Amounts recognized in the consolidated balance sheets:
Pension and other postretirement benefit obligations, net	1,196	1,317
Pension and other postretirement benefit obligations, net \| Other Post- Retirement Benefits
Amounts recognized in the consolidated balance sheets:
Pension and other postretirement benefit obligations, net	$ 0	$ 4,597

Goodwill And Other Intangible Assets (Reconciliation Of The Beginning And Ending Balance Of Goodwill) (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Goodwill [Roll Forward]
Finite-Lived Intangible Assets, Gross	$ 32,600	$ 32,600
Finite-Lived Intangible Assets, Accumulated Amortization	(27,032)	(25,274)
Finite-Lived Intangible Assets, Net	5,568	7,326
Customer Relationships
Goodwill [Roll Forward]
Finite-Lived Intangible Assets, Gross	25,900	25,900
Finite-Lived Intangible Assets, Accumulated Amortization	(20,332)	(18,574)
Finite-Lived Intangible Assets, Net	5,568	7,326
Trade Names
Goodwill [Roll Forward]
Finite-Lived Intangible Assets, Gross	6,700	6,700
Finite-Lived Intangible Assets, Accumulated Amortization	(6,700)	(6,700)
Finite-Lived Intangible Assets, Net	$ 0	$ 0

Accrued Expenses

12 Months Ended

Dec. 31, 2025

Accrued Liabilities [Abstract]

Accrued Expenses

6. ACCRUED EXPENSES

Accrued expenses consist of the following:


(In thousands)	2025		2024
Payrolls, related taxes and medical and other benefits	$	8,312	$	6,812
Incentive compensation	5,839		6,434
Workers’ compensation and disabilities	1,991		2,005
Vacation	1,806		1,668
Deferred revenue	1,513		—
Accrued utilities	1,279		1,164
Environmental liabilities	1,108		1,259
Customer rebates	553		540
Accrued interest	221		231
Accrued freight	135		213
Derivative contract liability	4		80
Other	2,650		1,762
Total	$	25,411	$	22,168

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2025
Auditor Information [Abstract]
Auditor Name	KPMG LLP
Auditor Location	Richmond, Virginia
Auditor Firm ID	185

Inventories (Narrative) (Details) - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Inventory, Net [Abstract]
Inventories stated on the LIFO basis	$ 9.1	$ 6.7
Inventories stated value below replacement costs	19.8	13.8
Weighted Average Cost Inventory Amount	15.9	14.3
FIFO Inventory Amount	$ 40.0	$ 30.4

Financial Instruments

12 Months Ended

Dec. 31, 2025

Summary of Derivative Instruments [Abstract]

Financial Instruments

9. DERIVATIVES

Tredegar uses derivative financial instruments for the purpose of hedging margin exposure from fixed-price forward sales contracts in Aluminum Extrusions. These derivative financial instruments are designated as and qualify as cash flow hedges and are recognized in the consolidated balance sheet at fair value. The fair value of derivative instruments recorded on the consolidated balance sheets is based upon Level 2 inputs. 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 certain 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 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 $10.0 million (5.2 million pounds of aluminum) at December 31, 2025 and $4.3 million (3.1 million pounds of aluminum) at December 31, 2024.

The table below summarizes the location and gross amounts of aluminum derivative contract fair values (Level 2) in the consolidated balance sheets as of December 31, 2025 and 2024:


	December 31, 2025			December 31, 2024
(In thousands)	Balance Sheet Account	Fair Value		Balance Sheet Account	Fair Value
Derivatives Designated as Hedging Instruments
Asset derivatives: Aluminum futures contracts	Prepaid expenses & other	$	1,392	Prepaid expenses & other	$	172
Liability derivatives: Aluminum futures contracts	Accrued expenses	(4)		Accrued expenses	(57)
Aluminum futures contracts	Other non-current liabilities	(9)		Other non-current liabilities	—
Net asset (liability)		$	1,379		$	115

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.

These derivative contracts involve elements of market risk that are not reflected on the 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 best and most creditworthy customers.

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 years ended December 31, 2025, 2024, and 2023 is summarized in the table below:


(In thousands)	Cash Flow Derivative Hedges
	Aluminum Futures Contracts
Years Ended December 31,	2025		2024		2023
Amount of pre-tax gain (loss) recognized in other comprehensive income	$	2,448	$	43	$	7,598
Location of gain (loss) reclassified from accumulated other comprehensive income into net income (effective portion)	Cost of goods sold		Cost of goods sold		Cost of goods sold
Amount of pre-tax gain (loss) reclassified from accumulated other comprehensive income to net income (effective portion)	$	1,184	$	(612)	$	4,508

As of December 31, 2025, the Company expects $1.1 million of unrealized after-tax net gains on aluminum derivative contracts reported in accumulated other comprehensive income (loss) to be reclassified to earnings within the next 12 months. For the years ended December 31, 2025, 2024 and 2023, net gains or losses realized, from previously unrealized net gains or losses on hedges that had been discontinued, were not material.

- Definition

The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts.

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+ Details

Business Segments (Schedule Of Net Sales By Product Group) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Revenue from External Customer [Line Items]
Net Sales by Product Group	$ 698,731	$ 577,014	$ 551,566
Cash and cash equivalents	6,729	7,062
Foreign Country
Revenue from External Customer [Line Items]
Cash and cash equivalents	1,900	1,600
High Performance Films
Revenue from External Customer [Line Items]
Net Sales by Product Group	99,756	105,199	76,763
Aluminum Extrusions
Revenue from External Customer [Line Items]
Net Sales by Product Group	598,975	471,815	474,803
Surface protection films \| High Performance Films
Revenue from External Customer [Line Items]
Net Sales by Product Group	71,852	75,909	47,463
Subtotal \| High Performance Films
Revenue from External Customer [Line Items]
Net Sales by Product Group	99,756	105,199	76,763
Nonresidential building & construction \| Aluminum Extrusions
Revenue from External Customer [Line Items]
Net Sales by Product Group	317,064	265,496	273,648
Consumer durables \| Aluminum Extrusions
Revenue from External Customer [Line Items]
Net Sales by Product Group	48,774	31,911	37,257
Residential building & construction \| Aluminum Extrusions
Revenue from External Customer [Line Items]
Net Sales by Product Group	41,374	36,303	36,774
Machinery and Equipment \| Aluminum Extrusions
Revenue from External Customer [Line Items]
Net Sales by Product Group	71,928	51,149	41,908
Automotive \| Aluminum Extrusions
Revenue from External Customer [Line Items]
Net Sales by Product Group	44,581	39,283	46,014
Distribution \| Aluminum Extrusions
Revenue from External Customer [Line Items]
Net Sales by Product Group	19,248	11,750	13,719
Electrical \| Aluminum Extrusions
Revenue from External Customer [Line Items]
Net Sales by Product Group	56,006	35,923	25,483
Subtotal \| Aluminum Extrusions
Revenue from External Customer [Line Items]
Net Sales by Product Group	598,975	471,815	474,803
Overwrap Packaging \| High Performance Films
Revenue from External Customer [Line Items]
Net Sales by Product Group	$ 27,904	$ 29,290	$ 29,300

Goodwill And Other Intangible Assets (Schedule Of Goodwill And Other Intangibles) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Goodwill And Other Intangible Assets [Line Items]
Goodwill	$ 22,446	$ 22,446	$ 35,717
Goodwill impairment	0	(13,271)	(34,891)
Aluminum Extrusions
Goodwill And Other Intangible Assets [Line Items]
Goodwill	0	0	13,271
Goodwill impairment	0	13,271
High Performance Films
Goodwill And Other Intangible Assets [Line Items]
Goodwill	22,446	22,446	$ 22,446
Goodwill impairment	$ 0	$ 0

- Definition

Amount, after accumulated impairment loss, of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

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-URI https://asc.fasb.org/1943274/2147481372/852-10-55-10

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-Name Accounting Standards Codification
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-Paragraph 1
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479581/805-30-50-4

+ Details

- Definition

Amount of impairment loss from asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

+ References + Details

Savings Plan	12 Months Ended
Savings Plan	Dec. 31, 2025
Savings Plan [Abstract]
Savings Plan	13. SAVINGS PLAN Tredegar has a savings plan that allows eligible employees to voluntarily contribute a percentage of their compensation, up to IRS limitations. Charges recognized for the savings plan were $4.3 million in 2025, $3.7 million in 2024 and $3.8 million in 2023. The provisions of the savings plan provided the following benefits for salaried and certain hourly employees: •The Company makes matching contributions to the savings plan of $1 for every $1 an employee contributes per pay period up to a maximum of 5% of eligible compensation. •The savings plan includes immediate vesting of matching contributions and automatic enrollment at 3% of eligible compensation unless the employee opts out or elects a different percentage. The Company also has a non-qualified plan that restores matching benefits for employees suspended from the savings plan due to certain limitations imposed by income tax regulations (“restoration plan”). The Company’s liability under the restoration plan was $0.7 million at December 31, 2025 (consisting of 100,510 phantom shares of common stock) and $0.7 million at December 31, 2024 (consisting of 88,148 phantom shares of common stock) and valued at the closing market price on those dates. Charges recognized for the restoration plan were immaterial for the years 2025, 2024 and 2023. The Tredegar Corporation Benefits Plan Trust (the “Trust”) purchased 7,200 shares of the Company’s common stock in 1998 for $0.2 million and 46,671 shares of its common stock in 1997 for $1.0 million. There have been no shares purchased since 1998 except for re-invested dividends. The cost of the shares held by the Trust is shown as a reduction to shareholders’ equity in the consolidated balance sheets.

Discontinued Operations and Disposal Groups (Tables)

12 Months Ended

Dec. 31, 2025

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations

The following table summarizes the financial results of discontinued operations reflected in the Consolidated Statements of Income (Loss) for the years ended December 31, 2025, 2024 and 2023:


	Years Ended December 31,
(In thousands)	2025		2024		2023
Revenue and other items
Sales	$	—	$	118,382	$	131,502
Other income (expense), net	—		8		2
	—		118,390		131,504
Costs and expenses
Cost of goods sold	—		97,919		118,669
Freight	—		5,598		5,177
Selling, general and administrative	387		7,608		10,819
Research and development	—		655		867
Amortization of intangibles	—		78		139
Interest expense (a)	—		7,532		5,291
Asset impairments and costs associated with exit and disposal activities, net of adjustments	—		—		107
(Gain) loss on sale of business	(9,657)		74,877		—
Total	(9,270)		194,267		141,069
Income (loss) from discontinued operations before income tax	9,270		(75,877)		(9,565)
Income tax expense (benefit)	(121)		(10,267)		(2,825)
Income (loss) from discontinued operations, net of tax	$	9,391	$	(65,610)	$	(6,740)
(a) For the years ended December 31, 2024 and 2023, interest expense includes $1.9 million and $0.4 million, respectively, directly related to the $20 million of outstanding Terphane debt assumed by Oben.

The following table provides significant operating, investing and financing cash flow information for discontinued operations:


	Year Ended December 31,
(In thousands)	2025		2024		2023
Operating activities:
Depreciation and amortization	$	—	$	2,313	$	2,865
(Gain) loss on the sale of divested business	(9,657)		74,877		—
Total	$	(9,657)	$	77,190	$	2,865
Investing activities:
Net proceeds on sale of divested business	$	9,835	$	54,631	$	—
Capital expenditures	—		(2,489)		(4,323)
Total	$	9,835	$	52,142	$	(4,323)
Financing activities
Borrowings	$	—	$	—	$	20,000

Total	$	—	$	—	$	20,000

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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+ Details

Summary of Significant Accounting Policies (Schedule of Accumulated Other Comprehensive Income (loss)) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	$ 180,968	$ 155,653	$ 201,762
OCI, before Reclassifications, before Tax, Attributable to Parent	2,510	451	17,240
Other Comprehensive Income (Loss) before Reclassifications, Tax	(460)	(181)	(3,868)
Other comprehensive income (loss), net of tax	2,050	270	13,372
Reclassification from AOCI, Current Period, before Tax, Attributable to Parent	(2,590)	87,016	93,743
Reclassification from AOCI, Current Period, Tax	763	610	(41,217)
Reclassification adjustment to net income (loss), net of tax	(1,827)	87,626	52,526
Other comprehensive income (loss)	223	87,896	65,898
Ending balance	216,554	180,968	155,653
AOCI Attributable to Parent
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	6,199	(81,697)	(147,595)
Ending balance	6,422	6,199	(81,697)
Foreign Currency Translation
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	5,105	(83,037)	(86,079)
OCI, before Reclassifications, before Tax, Attributable to Parent	461	(295)	3,511
Other Comprehensive Income (Loss) before Reclassifications, Tax	0	0	(469)
Other comprehensive income (loss), net of tax	461	(295)	3,042
Reclassification from AOCI, Current Period, before Tax, Attributable to Parent	0	89,038	0
Reclassification from AOCI, Current Period, Tax	0	(601)	0
Reclassification adjustment to net income (loss), net of tax	0	88,437	0
Other comprehensive income (loss)	461	88,142	3,042
Ending balance	5,566	5,105	(83,037)
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	268	801	(2,480)
OCI, before Reclassifications, before Tax, Attributable to Parent	2,110	240	11,794
Other Comprehensive Income (Loss) before Reclassifications, Tax	(473)	(72)	(2,977)
Other comprehensive income (loss), net of tax	1,637	168	8,817
Reclassification from AOCI, Current Period, before Tax, Attributable to Parent	(1,087)	(1,881)	(7,580)
Reclassification from AOCI, Current Period, Tax	253	1,180	2,044
Reclassification adjustment to net income (loss), net of tax	(834)	(701)	(5,536)
Other comprehensive income (loss)	803	(533)	3,281
Ending balance	1,071	268	801
Pension And Other Postretirement Benefit Adjust
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	826	539	(59,036)
OCI, before Reclassifications, before Tax, Attributable to Parent	(61)	506	1,935
Other Comprehensive Income (Loss) before Reclassifications, Tax	13	(109)	(422)
Other comprehensive income (loss), net of tax	(48)	397	1,513
Reclassification from AOCI, Current Period, before Tax, Attributable to Parent	(1,503)	(141)	101,323
Reclassification from AOCI, Current Period, Tax	510	31	(43,261)
Reclassification adjustment to net income (loss), net of tax	(993)	(110)	58,062
Other comprehensive income (loss)	(1,041)	287	59,575
Ending balance	$ (215)	$ 826	$ 539

Stock Option And Stock Award Plans

12 Months Ended

Dec. 31, 2025

Share-Based Payment Arrangement [Abstract]

Stock Option And Stock Award Plans

10. STOCK OPTION AND STOCK AWARD PLANS

As of December 31, 2025, the Company had one stock-based compensation plan that permits the grants of stock options, stock appreciation rights (“SARs”), restricted stock awards, other equity awards based on Tredegar common stock. Awards available for grant totaled 1,678,682 shares at December 31, 2025. Stock options may be granted to purchase a specified number of shares of common stock at a price no lower than the fair market value on the date of grant and for a term not to exceed 10 years. Stock options exercisable totaled 1,205,105 and 2,327,655 shares at December 31, 2025 and 2024, respectively.

A summary of stock options outstanding at December 31, 2025, 2024 and 2023, and changes during those years, is presented below:


		Option Exercise Price/Share
	Number of Options	Range					Weighted Average
Outstanding at January 1, 2023	3,108,741	$	10.75	to	$	22.49	$	13.81

Forfeited and expired	(89,408)	13.78		to	19.64		19.60

Outstanding at December 31, 2023	3,019,333	10.75		to	22.49		13.64

Forfeited and expired	(691,678)	10.75		to	22.49		14.15

Outstanding at December 31, 2024	2,327,655	10.75		to	16.37		13.49

Forfeited and expired	(1,122,550)	10.75		to	16.37		14.13

Outstanding at December 31, 2025	1,205,105	$	10.75	to	$	16.37	$	12.90

No options were granted in 2025, 2024 or 2023.

The following table summarizes additional information about stock options outstanding and exercisable at December 31, 2025:


					Options Outstanding at December 31, 2025						Options Exercisable at December 31, 2025
						Weighted Average			Aggregate Intrinsic Value					Aggregate Intrinsic Value
Range of Exercise Prices					Shares	Remaining Contractual Life	Exercise Price				Shares	Weighted Average Exercise Price
$	10.75	to	$	16.37	1,205,105	1.4 years	$	12.90	$	—	1,205,105	$	12.90	$	—

There were no stock options exercised in 2025, 2024 or 2023. The grant-date fair value of stock option-based awards vested in 2023 was $2.2 million. As of December 31, 2025 and 2024, there was no unrecognized compensation cost related to stock option-based awards.

Restricted stock grants ordinarily vest three years from the date of grant based upon continued employment. The fair value of restricted stock awards is estimated as of the grant date using the closing stock price on that date.

The following table summarizes additional information about unvested restricted stock awards outstanding at December 31, 2025, 2024 and 2023:


	Unvested Restricted Stock Awards
	Number of Shares	Weighted Avg. Grant Date Fair Value/Share		Grant Date Fair Value (In thousands)
Outstanding at January 1, 2023	474,978	$	13.82	$	6,564
Granted	454,623	7.67		3,487
Vested	(167,077)	11.29		(1,886)
Forfeited	(26,445)	11.60		(307)
Outstanding at December 31, 2023	736,079	10.68		7,861
Granted	385,159	7.25		2,792
Vested	(261,941)	11.94		(3,128)
Forfeited	(87,181)	8.51		(742)
Outstanding at December 31, 2024	772,116	8.79		6,787
Granted	342,181	7.15		2,447
Vested	(262,375)	11.05		(2,899)
Forfeited	(173,159)	7.45		(1,290)
Outstanding at December 31, 2025	678,763	$	7.43	$	5,043

As of December 31, 2025, the unrecognized compensation cost related to non-vested restricted stock awards was $2.0 million. This cost is expected to be recognized over the remaining weighted average period of 1.7 years.

There were no SARs granted in 2025, 2024 or 2023. SARs may be settled in cash upon exercise and therefore are classified as liabilities and included in accrued expenses in the consolidated balance sheet. The fair value of these liability awards is remeasured at each reporting period until the date of settlement. Increases and decreases in stock-based compensation expense are recognized over the vesting period, or immediately, for vested awards.

A summary of SARs outstanding at December 31, 2025, 2024 and 2023, and changes during those years, is presented below:


		Exercise Price/Share
	Number of SARs	Range					Weighted Average
Outstanding at January 1, 2023	498,687	$	10.75	to	$	16.37	$	13.49

Forfeited and expired	(53,969)	10.75		to	16.37		12.78

Outstanding at December 31, 2023	444,718	10.75		to	16.37		13.57

Forfeited and expired	(110,272)	10.75		to	16.37		13.85

Outstanding at December 31, 2024	334,446	10.75		to	16.37		13.48

Forfeited and expired	(5,340)	10.75		to	16.37		15.25

Outstanding at December 31, 2025	329,106	$	10.75	to	$	16.37	$	13.45

The grant-date fair value of SARs that vested in 2025, 2024 and 2023 were immaterial. As of December 31, 2025, there was no unrecognized compensation cost related to SARs

Accounts And Other Receivables (Tables)

12 Months Ended

Dec. 31, 2025

Accounts and Financing Receivable, after Allowance for Credit Loss [Abstract]

Schedule Of Accounts And Other Receivable

As of December 31, 2025 and 2024, accounts receivable and other receivables, net, include the following:


(In thousands)	2025		2024
Customer receivables	$	80,027	$	64,094
Other receivables	2,095		952
Total accounts and other receivables	82,122		65,046
Less: Allowance for credit losses	(311)		(229)
Total accounts and other receivables, net	$	81,811	$	64,817

Schedule Of Reconciliation Of The Beginning And Ending Balances Of The Allowance For Doubtful Accounts And Sales Returns

A reconciliation of the beginning and ending balances of the allowance for credit losses for the three years ended December 31, 2025 is as follows:


(In thousands)	2025		2024		2023
Balance, beginning of year	$	229	$	1,162	$	2,068
Charges to expense	89		145		407

Write-offs and settlements	(7)		(1,078)		(1,313)

Balance, end of year	$	311	$	229	$	1,162

Accounts And Other Receivables

12 Months Ended

Dec. 31, 2025

Accounts and Financing Receivable, after Allowance for Credit Loss [Abstract]

Accounts And Other Receivables

2. ACCOUNTS AND OTHER RECEIVABLES

As of December 31, 2025 and 2024, accounts receivable and other receivables, net, include the following:


(In thousands)	2025		2024
Customer receivables	$	80,027	$	64,094
Other receivables	2,095		952
Total accounts and other receivables	82,122		65,046
Less: Allowance for credit losses	(311)		(229)
Total accounts and other receivables, net	$	81,811	$	64,817

A reconciliation of the beginning and ending balances of the allowance for credit losses for the three years ended December 31, 2025 is as follows:


(In thousands)	2025		2024		2023
Balance, beginning of year	$	229	$	1,162	$	2,068
Charges to expense	89		145		407

Write-offs and settlements	(7)		(1,078)		(1,313)

Balance, end of year	$	311	$	229	$	1,162

Stock Option And Stock Award Plans (Summary Of Stock Options Outstanding) (Details) - $ / shares	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Number of Options
Number of Options, Outstanding, Beginning Balance	2,327,655	3,019,333	3,108,741
Number of Options, Forfeited and Expired	(1,122,550)	(691,678)	(89,408)
Number of Options, Outstanding, Ending Balance	1,205,105	2,327,655	3,019,333
Weighted Average
Weighted Average Option Exercise Price/Share, Outstanding, Beginning Balance	$ 13.49	$ 13.64	$ 13.81
Weighted Average Option Exercise Price/Share, Forfeited and Expired	14.13	14.15	19.60
Weighted Average Option Exercise Price/Share, Outstanding, Ending Balance	12.90	13.49	13.64
Minimum
Option Exercise Price/Share Range
Exercise Price, Outstanding, Beginning Balance	10.75	10.75	10.75
Exercise Price, Forfeited and Expired	10.75	10.75	13.78
Exercise Price, Outstanding, Ending Balance	10.75	10.75	10.75
Maximum
Option Exercise Price/Share Range
Exercise Price, Outstanding, Beginning Balance	16.37	22.49	22.49
Exercise Price, Forfeited and Expired	16.37	22.49	19.64
Exercise Price, Outstanding, Ending Balance	$ 16.37	$ 16.37	$ 22.49

Savings Plan (Details) - USD ($)	12 Months Ended
Savings Plan (Details) - USD ($)	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 1998	Dec. 31, 1997
Savings Plan [Line Items]
Charges recognized	$ 4,300,000	$ 3,700,000	$ 3,800,000
Liability under the restoration plan	$ 700,000	$ 700,000
Liability under the restoration plan, shares	100,510	88,148
Number of common stock purchased				7,200	46,671
Amount of common stock purchased				$ 200,000	$ 1,000,000.0
Savings Plan
Savings Plan [Line Items]
Employee contribution to savings plan	$ 1
Defined Contribution Plan Employer Employee Contribution	$ 1
Maximum matching contribution	5.00%
Percentage of enrollment of base pay	3.00%

Discontinued Operations (Summary of Significant Operating, Investing And Financing Cash Flow Information) (Details) - USD ($) $ in Thousands		12 Months Ended
	Feb. 28, 2025	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Discontinued Operations and Disposal Groups [Abstract]
Amortization of identifiable intangibles		$ 0	$ 2,313	$ 2,865
Gain on divestiture of business		(9,657)	74,877	0
Cash Provided by (Used in) Operating Activity, Discontinued Operation		(9,657)	77,190	2,865
Net proceeds on sale of divested business	$ 9,800	9,835	54,631	0
Capital Expenditure, Discontinued Operations		0	(2,489)	(4,323)
Cash Provided by (Used in) Investing Activity, Discontinued Operation		9,835	52,142	(4,323)
Proceeds from long term, Discontinued Operations		0	0	20,000
Cash Provided by (Used in) Financing Activity, Discontinued Operation		$ 0	$ 0	$ 20,000

Goodwill And Other Intangible Assets (Narrative) (Details) $ in Thousands	Dec. 31, 2025 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months	$ 1,800
Finite-Lived Intangible Assets, Amortization Expense, Year Two	1,800
Finite-Lived Intangible Assets, Amortization Expense, Year Three	$ 1,800

Stock Option And Stock Award Plans (Summary Of Additional Information On Non-Vested Restricted Stock Outstanding) (Details) - Restricted Stock [Member] - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Number of Shares, Outstanding, Beginning Balance	772,116	736,079	474,978
Number of Shares, Granted	342,181	385,159	454,623
Number of Shares, Vested	(262,375)	(261,941)	(167,077)
Number of Shares, Forfeited	(173,159)	(87,181)	(26,445)
Number of Shares, Outstanding, Ending Balance	678,763	772,116	736,079
Wgtd. Ave. Grant Date Fair Value/Sh., Beginning Balance	$ 8.79	$ 10.68	$ 13.82
Wgtd. Ave. Grant Date Fair Value/Sh., Granted	7.15	7.25	7.67
Wgtd. Ave. Grant Date Fair Value/Sh., Vested	11.05	11.94	11.29
Wgtd. Ave. Grant Date Fair Value/Sh., Forfeited	7.45	8.51	11.60
Wgtd. Ave. Grant Date Fair Value/Sh., Ending Balance	$ 7.43	$ 8.79	$ 10.68
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Grant Date Fair Value, Outstanding, Beginning Balance	$ 6,787	$ 7,861	$ 6,564
Grant Date Fair Value, Granted	2,447	2,792	3,487
Grant Date Fair Value, Vested	(2,899)	(3,128)	(1,886)
Grant Date Fair Value, Forfeited	(1,290)	(742)	(307)
Grant Date Fair Value, Outstanding, Ending Balance	$ 5,043	$ 6,787	$ 7,861

Debt And Credit Agreements (Narrative) (Details) ¥ in Millions, $ in Millions		3 Months Ended	12 Months Ended
	Jun. 25, 2024 CNY (¥)	Dec. 31, 2025 USD ($) Rate	Dec. 31, 2025 USD ($) Rate	Dec. 31, 2024 USD ($)	Dec. 31, 2025 CNY (¥) Rate	May 31, 2025 USD ($)
Line of Credit Facility [Line Items]
Line of Credit, Maximum Borrowing Capacity after ABL Adjustment Date		$ 125.0	$ 125.0			$ 125.0
Available credit under the Credit Agreement		$ 87.5	$ 87.5
Line of Credit Facility, percent borrowing capacity \| Rate		70.00%	70.00%		70.00%
Letters of Credit Outstanding, Amount		$ 3.0	$ 3.0	$ 12.0
Minimum Availability after ABL Adjustment Date \| Rate		20.00%	20.00%		20.00%
Minimum Availability, Dollar Threshold		$ 20.0	$ 20.0
Guangzhou Tredegar Loan
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate	0.45%	0.55%
Other Borrowings	¥ 9.5	$ 0.5	$ 0.5		¥ 3.5
Debt Instrument, Interest Rate, Stated Percentage \| Rate		3.00%	3.00%		3.00%
Revolving Credit Facility \| Amended ABL Facility
Line of Credit Facility [Line Items]
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage, Threshold		50.00%	50.00%		50.00%
Debt Instrument, Borrowing Base Calculation, Property Plant And Equipment Component Threshold, Percentage Of Net Orderly Liquidation Value			60.00%
Debt Instrument, Borrowing Base Calculation, Property Plant And Equipment Component Threshold, Percentage Of Borrowing Base			30.00%
Debt Instrument, Borrowing Base Calculation, Amount Of Eligible Cash, Cap, Percentage Of Borrowing Base			15.00%
Revolving Credit Facility \| Amended ABL Facility \| Adjusted Term Secured Overnight Financing Rate (SOFR)
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate			1.00%
Revolving Credit Facility \| Amended ABL Facility \| Term Secured Overnight Financing Rate
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate			0.10%
Revolving Credit Facility \| Amended ABL Facility \| Initial Floor Secured Overnight Financing Rate
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate			0.00%
Revolving Credit Facility \| Amended ABL Facility \| Fixed Charge Coverage Ratio
Line of Credit Facility [Line Items]
Line Of Credit, Fixed Charge Coverage Ratio, Percentage Threshold		0.10	0.10		0.10
Line Of Credit, Fixed Charge Coverage Ratio, Monetary Availability Threshold		$ 10.0	$ 10.0
Revolving Credit Facility \| Amended ABL Facility \| Base Rate
Line of Credit Facility [Line Items]
Line Of Credit, Cash Dominion Period, Percentage Threshold		0.125	0.125		0.125
Line Of Credit, Cash Dominion Period, Monetary Availability Threshold		$ 12.6	$ 12.6
Revolving Credit Facility \| Amended ABL Facility If Average Usage Is Greater Than Or Equal To 50%
Line of Credit Facility [Line Items]
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage			0.25%	0.40%
Revolving Credit Facility \| Amended ABL Facility If Average Usage Is Less Than 50%
Line of Credit Facility [Line Items]
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage			0.375%

Debt And Credit Agreements (Schedule Of Borrowings Under Credit Agreement At Various Indebtedness To Adjusted EBITDA Levels) (Details)	12 Months Ended
	Dec. 31, 2025
> 66% of $125 million aggregate commitment
Line of Credit Facility [Line Items]
Term Benchmark Spread	1.75%
ABR Spread	0.75%
≤ 66% but > 33% of $125 million aggregate commitment
Line of Credit Facility [Line Items]
Term Benchmark Spread	2.00%
ABR Spread	1.00%
≤ 33% of $125 million aggregate commitment
Line of Credit Facility [Line Items]
Term Benchmark Spread	2.25%
ABR Spread	1.25%

Cover - USD ($)	12 Months Ended
Cover - USD ($)	Dec. 31, 2025	Mar. 06, 2026	Jun. 30, 2025
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Transition Report	false
Document Period End Date	Dec. 31, 2025
Entity File Number	1-10258
Entity Registrant Name	TREDEGAR CORPORATION
Entity Address, State or Province	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
Trading Symbol	TG
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 242,702,935
Entity Common Stock, Shares Outstanding		34,756,980
Documents Incorporated by Reference	Portions of the Tredegar Corporation Proxy Statement for the 2026 Annual Meeting of Shareholders (the “Proxy Statement”) are incorporated by reference into Part III of this Form 10-K.
Amendment Flag	false
Entity Central Index Key	0000850429
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2025
Entity Small Business	true
Entity Emerging Growth Company	false
Document Fiscal Period Focus (Q1,Q2,Q3,FY)	FY
Document Financial Statement Error Correction [Flag]	false

Retirement Plans And Other Postretirement Benefits (Components Of Net Periodic Benefit Income Or Cost For Continuing Operations) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Components of net periodic benefit cost:
Pension settlement loss and (gain) on Other Post-Retirement Benefits termination	$ 0	$ 0	$ 92,291
Pension Benefits
Weighted-average assumptions used to determine benefit obligations:
Discount rate	5.07%	5.49%	4.89%
Weighted-average assumptions used to determine net periodic benefit cost:
Discount rate(a)	5.49%	4.89%
Components of net periodic benefit cost:
Service cost	$ 0	$ 0	$ 0
Interest cost	78	75	9,623
Expected return on plan assets	0	0	(8,109)
Amortization of prior service costs and gains or losses	20	21	9,245
Net periodic benefit cost	98	96	10,759
Pension settlement loss and (gain) on Other Post-Retirement Benefits termination	0	0	92,291
Total benefit cost	$ 98	$ 96	$ 103,050
Pension Benefits \| Minimum
Weighted-average assumptions used to determine net periodic benefit cost:
Discount rate(a)			5.07%
Pension Benefits \| Maximum
Weighted-average assumptions used to determine net periodic benefit cost:
Discount rate(a)			5.37%
Other Post- Retirement Benefits
Weighted-average assumptions used to determine benefit obligations:
Discount rate	0.00%	5.63%	4.98%
Weighted-average assumptions used to determine net periodic benefit cost:
Discount rate(a)		4.98%	5.17%
Components of net periodic benefit cost:
Service cost	$ 9	$ 9	$ 10
Interest cost	225	274	288
Expected return on plan assets	0	0	0
Amortization of prior service costs and gains or losses	(275)	(162)	(213)
Net periodic benefit cost	(41)	121	85
Pension settlement loss and (gain) on Other Post-Retirement Benefits termination	(6,265)	0	0
Total benefit cost	$ (6,306)	$ 121	$ 85
Other Post- Retirement Benefits \| Minimum
Weighted-average assumptions used to determine net periodic benefit cost:
Discount rate(a)	5.63%
Other Post- Retirement Benefits \| Maximum
Weighted-average assumptions used to determine net periodic benefit cost:
Discount rate(a)	5.25%

Income Taxes (Schedule Of Income From Continuing Operations Before Income Taxes) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Income (loss) from continuing operations before income taxes:
Domestic	$ 29,745	$ (523)	$ (151,488)
Foreign	924	1,403	1,023
Income (loss) from continuing operations before income taxes	30,669	880	(150,465)
Current income tax expense (benefit):
Federal	(563)	(106)	(39,929)
State	691	704	(39)
Foreign	279	123	241
Total	407	721	(39,727)
Deferred income tax expense (benefit):
Federal	6,104	(470)	(11,758)
State	137	(517)	198
Foreign	(64)	101	(13)
Total	6,177	(886)	(11,573)
Federal	5,541	(576)	(51,687)
State	828	187	159
Foreign	215	224	228
Total	$ 6,584	$ (165)	$ (51,300)

Consolidated Balance Sheets (Parenthetical) - shares	Dec. 31, 2025	Dec. 31, 2024
Statement of Financial Position [Abstract]
Common stock, shares authorized (shares)	150,000,000	150,000,000
Common stock, shares, issued (shares)	34,737,534	34,661,272
Common stock, shares, outstanding (shares)	34,737,534	34,661,272
Common stock held in trust for savings restoration plan (shares)	118,542	118,543

Goodwill And Other Intangible Assets

12 Months Ended

Dec. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill And Other Intangible Assets

5. GOODWILL AND IDENTIFIABLE INTANGIBLE ASSETS

A reconciliation of goodwill at December 31, 2025 and 2024 is as follows:


(In thousands)	Aluminum Extrusions(a)		High Performance Films(a)		Total
Net carrying value of goodwill at December 31, 2023	$	13,271	$	22,446	$	35,717
Goodwill impairment	(13,271)		—		(13,271)
Net carrying value of goodwill at December 31, 2024	—		22,446		22,446
Goodwill impairment	—		—		—
Net carrying value of goodwill at December 31, 2025	$	—	$	22,446	$	22,446
(a) The goodwill of Aluminum Extrusions and High Performance Films is carried by the Clearfield and Surface Protection reporting units, respectively.

A reconciliation of identifiable intangibles at December 31, 2025 and 2024 is as follows:


(In thousands)	Customer Relationships		Trade Names		Total
Gross carrying value at December 31, 2024	$	25,900	$	6,700	$	32,600
Accumulated amortization	(18,574)		(6,700)		(25,274)
Net carrying value at December 31, 2024	$	7,326	$	—	$	7,326

Gross carrying value at December 31, 2025	$	25,900	$	6,700	$	32,600
Accumulated amortization	(20,332)		(6,700)		(27,032)
Net carrying value at December 31, 2025	$	5,568	$	—	$	5,568

Amortization expense over the next three years is expected to be $1.8 million per year and is expected to end in early 2029.

Income Taxes (Schedule Of Unrecognized Uncertain Tax Positions) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Unrecognized Tax Benefits [Roll Forward]
Balance at beginning of period	$ 840	$ 659	$ 628
Increase (decrease) due to tax positions taken in, Current period	0	25	25
Increase (decrease) due to tax positions taken in, Prior period	0	158	23
Reductions due to lapse of statute of limitations	(840)	(2)	(17)
Balance at end of period	$ 0	$ 840	$ 659

Business Segments (Schedule Of Identifiable Assets By Geographic Area, Property, Plant & Equipment, Net By Geographic Area) (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Segment Reporting Information [Line Items]
Identifiable Assets by Geographic Area, Total	$ 371,372	$ 356,357
Property, Plant & Equipment, Net by Geographic Area, Total	132,975	137,032
Cash, Cash Equivalents, and Federal Funds Sold	6,729	7,062
Discontinued operations	0	126
Disposal Group, Including Discontinued Operation, Property, Plant and Equipment	0	0
Property, Plant & Equipment, Net of Discontinued operations by Geographic Area, Total	132,975	137,032
United States
Segment Reporting Information [Line Items]
Identifiable Assets by Geographic Area, Total	316,412	294,303
Property, Plant & Equipment, Net by Geographic Area, Total	126,234	127,992
Operations Outside The United States \| China
Segment Reporting Information [Line Items]
Identifiable Assets by Geographic Area, Total	6,388	7,983
Property, Plant & Equipment, Net by Geographic Area, Total	5,555	7,217
General corporate
Segment Reporting Information [Line Items]
Identifiable Assets by Geographic Area, Total	41,843	46,883
Property, Plant & Equipment, Net by Geographic Area, Total	$ 1,186	$ 1,823

Inventories

12 Months Ended

Dec. 31, 2025

Inventory, Net [Abstract]

Inventories

3. INVENTORIES

Inventories consist of the following:


(In thousands)	2025		2024
Finished goods	$	17,578	$	15,051
Work-in-process	3,574		2,986
Raw materials	20,365		12,158
Stores, supplies and other	23,445		21,186
Total	$	64,962	$	51,381

Inventories stated on the LIFO basis amounted to $9.1 million at December 31, 2025 and $6.7 million at December 31, 2024, which were below replacement costs by $19.8 million at December 31, 2025 and $13.8 million at December 31, 2024. Inventories stated on the weighted average cost basis were $15.9 million and $14.3 million at December 31, 2025 and 2024, respectively, while inventories stated on the FIFO method amounted to $40.0 million and $30.4 million at December 31, 2025 and 2024, respectively.

Business Segments

12 Months Ended

Dec. 31, 2025

Segment Reporting [Abstract]

Business Segments

12. BUSINESS SEGMENTS

The Company's business segments are Aluminum Extrusions and High Performance Films. Aluminum Extrusions, also referred to as Bonnell Aluminum, produces high-quality, soft and medium strength alloyed aluminum extrusions, custom fabricated and finished, for the building and construction, automotive and transportation, consumer durables goods, machinery and equipment, electrical and renewable energy, and distribution markets. High Performance Films produces surface protection films, advanced packaging films and films for other markets.

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 chief operating decision maker (“CODM”) assesses performance. 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.

EBITDA from ongoing operations used by the CODM excludes certain non-recurring items, such as restructuring costs, asset impairments and other items, which are reported separately. The CODM uses EBITDA from ongoing operations to evaluate the operating performance of Tredegar’s ongoing operations, monitor budget versus actual results, establish management’s compensation and allocate resources. EBITDA from ongoing operations is the primary measure of segment performance and is consistent with how the business is managed internally, in addition to being a key financial and analytic metric for borrowing capacity and estimated enterprise value.

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.

Information by business segment and geographic area for the last three years is provided in the segment tables below. There were no accounting transactions between segments.


Segment Revenue, Segment Profit (Loss), and Significant Expenses
	2025
(In thousands)	Aluminum Extrusions		High Performance Films		Total
Net Sales	$	598,975	$	99,756	$	698,731
Reconciliation of revenue:
Add back freight					24,133
Sales as shown in the consolidated statements of income (loss)					$	722,864
Less:
Variable costs	454,249		46,596		500,845
LIFO inventory adjustment	6,741		212		6,953
Manufacturing fixed costs5	46,402		14,134		60,536
Selling, general and administrative costs5	38,461		11,618		50,079
Other6	2,164		59		2,223
EBITDA from ongoing operations	$	50,958	$	27,137	$	78,095
Reconciliation of profit (loss):
Depreciation and amortization					21,535
Plant shutdowns, asset impairments, restructurings and other1					2,790

Interest income					36
Interest expense					4,003

OPEB termination gain					6,265
Corporate expenses, net4					25,399
Income (loss) from continuing operations before income tax					30,669
Income tax expense (benefit)					6,584
Net income (loss) from continuing operations					24,085
Income (loss) from discontinued operations, net of tax					9,391
Net income (loss)					$	33,476

Refer to Notes to Financial Tables that follow these tables.


Segment Revenue, Segment Profit (Loss), and Significant Expenses
	2024
(In thousands)	Aluminum Extrusions		High Performance Films		Total
Net Sales	$	471,815	$	105,199	$	577,014
Reconciliation of revenue:
Add back freight					21,011
Sales as shown in the consolidated statements of income (loss)					$	598,025
Less:
Variable costs	354,397		50,289		404,686
LIFO inventory adjustment	1,234		(174)		1,060
Manufacturing fixed costs5	40,123		13,248		53,371
Selling, general and administrative costs5	33,638		11,245		44,883
Other6	1,066		105		1,171
EBITDA from ongoing operations	$	41,357	$	30,486	$	71,843
Reconciliation of profit (loss):
Depreciation and amortization					22,922
Plant shutdowns, asset impairments, restructurings and other1					5,766
Goodwill impairment					13,271
Interest income					36
Interest expense					4,664
Gain on investment in kaleo, inc.					144


Corporate expenses, net4					24,520
Income (loss) from continuing operations before income tax					880
Income tax expense (benefit)					(165)
Net income (loss) from continuing operations					1,045
Income (loss) from discontinued operations, net of tax					(65,610)
Net income (loss)					$	(64,565)

Refer to Notes to Financial Tables that follow these tables.


Segment Revenue, Segment Profit (Loss), and Significant Expenses
	2023
(In thousands)	Aluminum Extrusions		High Performance Films		Total
Net Sales	$	474,803	$	76,763	$	551,566
Reconciliation of revenue:
Add back freight					21,757
Sales as shown in the consolidated statements of income (loss)					$	573,323
Less:
Variable costs	365,320		40,824		406,144
LIFO inventory adjustment	(944)		(1,333)		(2,277)
Manufacturing fixed costs5	41,028		13,793		54,821
Selling, general and administrative costs5	29,725		12,106		41,831
Other6	1,698		156		1,854
EBITDA from ongoing operations	$	37,976	$	11,217	$	49,193
Reconciliation of profit (loss):
Depreciation and amortization					24,449
Plant shutdowns, asset impairments, restructurings and other1					8,529
Goodwill impairment					34,891
Interest income					514
Interest expense					6,316
Gain on investment in kaleo, inc.					262
Stock option-based compensation expense					231
Pension settlement loss					92,291
Corporate expenses, net4					33,727
Income (loss) from continuing operations before income tax					(150,465)
Income tax expense (benefit)					(51,300)
Net income (loss) from continuing operations					(99,165)
Income (loss) from discontinued operations, net of tax					(6,740)
Net income (loss)					$	(105,905)

Refer to Notes to Financial Tables that follow these tables.


Identifiable Assets
(In thousands)	2025		2024
Aluminum Extrusions	$	269,802	$	247,205
High Performance Films	52,998		55,081
Subtotal	322,800		302,286
General corporate	41,843		46,883
Cash and cash equivalents2	6,729		7,062
Discontinued operations	—		126
Total	$	371,372	$	356,357


	Depreciation and Amortization						Capital Expenditures
(In thousands)	2025		2024		2023		2025		2024		2023
Aluminum Extrusions	$	16,640	$	17,722	$	17,927	$	15,392	$	10,097	$	20,339
High Performance Films	4,895		5,200		6,522		1,849		1,761		1,772
Subtotal	21,535		22,922		24,449		17,241		11,858		22,111
General corporate4	194		302		369		—		—		12
Discontinued operations	—		2,313		2,865		—		2,489		4,323
Total	$	21,729	$	25,537	$	27,683	$	17,241	$	14,347	$	26,446


Net Sales by Geographic Area3
(In thousands)	2025		2024		2023
United States	$	632,806	$	514,743	$	506,475
Exports from the United States to:
Asia	42,399		46,724		26,217
Canada	14,856		9,541		12,121
Europe	37		97		9
Latin America	7,437		5,068		6,192
Operations outside the United States:
Asia	1,196		841		552
Total	$	698,731	$	577,014	$	551,566


	Identifiable Assets by Geographic Area3				Property, Plant & Equipment, Net by Geographic Area3
(In thousands)	2025		2024		2025		2024
United States	$	316,412	$	294,303	$	126,234	$	127,992
Operations outside the United States:
China	6,388		7,983		5,555		7,217
General corporate	41,843		46,883		1,186		1,823
Cash and cash equivalents2	6,729		7,062		n/a		n/a
Discontinued operations	—		126		—		—
Total	$	371,372	$	356,357	$	132,975	$	137,032

Refer to Notes to Financial Tables that follow these tables.

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 $26.1 million in 2025, $26.9 million in 2024 and $15.9 million in 2023.


Net Sales by Product Group
(In thousands)	2025		2024		2023
Aluminum Extrusions:
Nonresidential building & construction	$	317,064	$	265,496	$	273,648
Consumer durables	48,774		31,911		37,257
Automotive	44,581		39,283		46,014
Machinery & equipment	71,928		51,149		41,908
Distribution	19,248		11,750		13,719
Residential building & construction	41,374		36,303		36,774
Electrical	56,006		35,923		25,483
Subtotal	598,975		471,815		474,803
High Performance Films:
Surface protection films	71,852		75,909		47,463
Advanced packaging	27,904		29,290		29,300

Subtotal	99,756		105,199		76,763

Total	$	698,731	$	577,014	$	551,566

1.See Note 1 for more information on losses associated with plant shutdowns, asset impairments and restructurings and other items.

2.Cash and cash equivalents includes funds held in locations outside the U.S. of $1.9 million and $1.6 million at December 31, 2025 and 2024, respectively.

3.Export sales relate primarily to High Performance Films.

4.Corporate depreciation and amortization are included in corporate expenses, net, on the Segment Revenue, Segment Profit (Loss), and Significant Expenses tables above.

5.Excludes related depreciation and amortization.

6.Other expenses include segment allocated employee compensation benefits expense.

- 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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-21

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-21

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-31

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-15

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-42

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
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+ Details

Financial Instruments (Narrative) (Details) lb in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2025 USD ($) lb	Dec. 31, 2024 USD ($) lb
Derivative [Line Items]
Weight of aluminum that hedged future purchase of aluminum to meet fixed-price forward sales contract obligations, lbs \| lb	5.2	3.1
Amounts of unrealized after-tax gains on derivative instruments	$ 1.1
Aluminum Futures Contracts
Derivative [Line Items]
Derivative, Notional Amount, Net	$ 10.0	$ 4.3

Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2025

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 derivative contract fair values (Level 2) in the consolidated balance sheets as of December 31, 2025 and 2024:


	December 31, 2025			December 31, 2024
(In thousands)	Balance Sheet Account	Fair Value		Balance Sheet Account	Fair Value
Derivatives Designated as Hedging Instruments
Asset derivatives: Aluminum futures contracts	Prepaid expenses & other	$	1,392	Prepaid expenses & other	$	172
Liability derivatives: Aluminum futures contracts	Accrued expenses	(4)		Accrued expenses	(57)
Aluminum futures contracts	Other non-current liabilities	(9)		Other non-current liabilities	—
Net asset (liability)		$	1,379		$	115

Schedule Of Pretax Effect On Net Income (Loss) And Other Comprehensive Income (Loss) Of Derivative Instruments Classified As Cash Flow Hedges


(In thousands)	Cash Flow Derivative Hedges
	Aluminum Futures Contracts
Years Ended December 31,	2025		2024		2023
Amount of pre-tax gain (loss) recognized in other comprehensive income	$	2,448	$	43	$	7,598
Location of gain (loss) reclassified from accumulated other comprehensive income into net income (effective portion)	Cost of goods sold		Cost of goods sold		Cost of goods sold
Amount of pre-tax gain (loss) reclassified from accumulated other comprehensive income to net income (effective portion)	$	1,184	$	(612)	$	4,508

Goodwill And Other Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Reconciliation Of The Beginning And Ending Balance Of Goodwill

A reconciliation of goodwill at December 31, 2025 and 2024 is as follows:


(In thousands)	Aluminum Extrusions(a)		High Performance Films(a)		Total
Net carrying value of goodwill at December 31, 2023	$	13,271	$	22,446	$	35,717
Goodwill impairment	(13,271)		—		(13,271)
Net carrying value of goodwill at December 31, 2024	—		22,446		22,446
Goodwill impairment	—		—		—
Net carrying value of goodwill at December 31, 2025	$	—	$	22,446	$	22,446
(a) The goodwill of Aluminum Extrusions and High Performance Films is carried by the Clearfield and Surface Protection reporting units, respectively.

Schedule Of Goodwill And Other Intangibles

A reconciliation of identifiable intangibles at December 31, 2025 and 2024 is as follows:


(In thousands)	Customer Relationships		Trade Names		Total
Gross carrying value at December 31, 2024	$	25,900	$	6,700	$	32,600
Accumulated amortization	(18,574)		(6,700)		(25,274)
Net carrying value at December 31, 2024	$	7,326	$	—	$	7,326

Gross carrying value at December 31, 2025	$	25,900	$	6,700	$	32,600
Accumulated amortization	(20,332)		(6,700)		(27,032)
Net carrying value at December 31, 2025	$	5,568	$	—	$	5,568

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

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+ Details

Business Segments (Schedule Of Segment Reporting Information By Segment) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Revenue from External Customer [Line Items]
Net Sales	$ 698,731	$ 577,014	$ 551,566
Sales	722,864	598,025	573,323
Plant shutdowns, asset impairments, restructurings and other	2,790	5,766	8,529
Goodwill impairment	0	13,271	34,891
Investment Income, Interest	36	36	514
Interest and Debt Expense	4,003	4,664	6,316
Stock or Unit Option Plan Expense			231
Pension settlement loss and (gain) on Other Post-Retirement Benefits termination	0	0	92,291
Corporate expenses, net	25,399	24,520	33,727
Income (loss) from continuing operations before income taxes	30,669	880	(150,465)
Income tax expense (benefit)	6,584	(165)	(51,300)
Net income (loss) from continuing operations	24,085	1,045	(99,165)
Disposal Group, Including Discontinued Operation, Operating Income (Loss)	9,391	(65,610)	(6,740)
Net income (loss)	33,476	(64,565)	(105,905)
kaleo
Revenue from External Customer [Line Items]
Gain (loss) on investment accounted for under the fair value method		144	262
Freight
Revenue from External Customer [Line Items]
Cost of Product and Service Sold	24,133	21,011	21,757
Aluminum Extrusions
Revenue from External Customer [Line Items]
Net Sales	598,975	471,815	474,803
Variable costs	454,249	354,397	365,320
LIFO inventory adjustment	6,741	1,234	(944)
Manufacturing fixed costs (e)	46,402	40,123	41,028
Selling, general and administrative costs (e)	38,461	33,638	29,725
Segments Other costs	2,164	1,066	1,698
Earnings before interest, taxes, depreciation and amortization (EBITDA)	50,958	41,357	37,976
Goodwill impairment	0	(13,271)
High Performance Films
Revenue from External Customer [Line Items]
Net Sales	99,756	105,199	76,763
Variable costs	46,596	50,289	40,824
LIFO inventory adjustment	212	(174)	(1,333)
Manufacturing fixed costs (e)	14,134	13,248	13,793
Selling, general and administrative costs (e)	11,618	11,245	12,106
Segments Other costs	59	105	156
Earnings before interest, taxes, depreciation and amortization (EBITDA)	27,137	30,486	11,217
Goodwill impairment	0	0
Subtotal
Revenue from External Customer [Line Items]
Variable costs	500,845	404,686	406,144
LIFO inventory adjustment	6,953	1,060	(2,277)
Manufacturing fixed costs (e)	60,536	53,371	54,821
Selling, general and administrative costs (e)	50,079	44,883	41,831
Segments Other costs	2,223	1,171	1,854
Earnings before interest, taxes, depreciation and amortization (EBITDA)	78,095	71,843	49,193
Depreciation and Amortization	$ 21,535	$ 22,922	$ 24,449

Retirement Plans And Other Postretirement Benefits (Schedule Of Amounts Recognized Before Related Deferred Income Taxes In Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Net actuarial (gain) loss	$ 454	$ 384	$ 415
Other Post- Retirement Benefits
Defined Benefit Plan Disclosure [Line Items]
Net actuarial (gain) loss	$ 0	$ (1,534)	$ (1,250)

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Business Segments (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Exports From The United States \| Asia
Segment Reporting Information [Line Items]
Revenues	$ 26.1	$ 26.9	$ 15.9

- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

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Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
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-Section 50
-Paragraph 22
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-40

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
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-Section 50
-Paragraph 22
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2

+ Details

Summary Of Significant Accounting Policies

12 Months Ended

Dec. 31, 2025

Accounting Policies [Abstract]

Summary Of Significant Accounting Policies

1. NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Nature of Operations. Tredegar Corporation and subsidiaries (collectively “Tredegar,” “the Company,” “we,” “us” or “our”) is an industrial manufacturer with two primary businesses: custom aluminum extrusions for the North American building & construction, automotive and specialty end-use markets; and surface protection films for high-technology applications in the global electronics industry and advanced packaging films used for bathroom tissue and paper towels.

In the fourth quarter of 2025, the Company renamed the segment formerly known as “PE Films.” This segment will be referred to as “High Performance Films” going forward. The product previously known as polyethylene overwrap films was renamed to advanced packaging films. There were no changes to the operations reported within the High Performance Films segment. The Company continues to have two reportable segments: Aluminum Extrusions and High Performance Films. More information on the Company’s business segments is provided in Note 12.

On November 1, 2024, the Company completed the sale of its flexible packaging films business (also referred to as “Terphane”) headquartered in Brazil to Oben Group (“Oben”). All historical results for Terphane have been presented as discontinued operations. For more information on this transaction, see Note 15.

Fiscal Year End. The Company operates on a calendar fiscal year except for the Aluminum Extrusions segment, which operates on a 52/53-week fiscal year basis. References to Aluminum Extrusions for 2025, 2024 and 2023 relate to the 52-week fiscal year ended December 28, 2025, 52-week fiscal year ended December 29, 2024 and 53-week fiscal year ended December 31, 2023, respectively. The Company does not believe the impact of reporting the results of this segment in this manner is material to the consolidated financial results. The Company may have activity with the Aluminum Extrusions segment during the intervening period from Aluminum Extrusion’s fiscal year end to the Company’s calendar year end. As a result, the Company’s prepaid and other current assets increased by $5.7 million as of December 31, 2025 since the Company made payments to the Aluminum Extrusions segment to fund its payroll during the intervening period. The Company’s cash and cash equivalents declined $3.6 million as of December 31, 2024 since the Company made payments to the Aluminum Extrusions segment to fund its working capital during the intervening period.

Use of Estimates. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue, expenses and disclosure of contingent assets and liabilities (if any). On an ongoing basis, the Company evaluates its estimates, including those related to provisions for transaction and credit losses, income taxes, pension, other postretirement benefits and the valuation of goodwill and intangible assets, among others. Tredegar bases its estimates on historical experience and various other assumptions which the Company believes to be reasonable under the circumstances. Actual results could differ from those estimates.

As of December 31, 2025 and 2024, Surface Protection had goodwill of $22.4 million.

For more information on goodwill and identifiable intangibles, see Note 5.

As of December 31, 2025, no events were identified that indicated long-lived assets may be impaired.


	2025	2024	2023
Weighted average shares outstanding used to compute basic earnings per share	34,735,139	34,346,242	34,133,078
Incremental shares attributable to stock options and restricted stock	—	—	—
Shares used to compute diluted earnings per share	34,735,139	34,346,242	34,133,078

The changes in accumulated other comprehensive income (loss) by component are summarized as follows:


(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)	3,511		11,794		1,935		17,240
Income tax (expense) benefit	(469)		(2,977)		(422)		(3,868)
Other comprehensive income (loss), net of tax	3,042		8,817		1,513		13,372
Reclassification adjustment to net income (loss)	—		(7,580)		101,323		93,743
Income tax (expense) benefit	—		2,044		(43,261)		(41,217)
Reclassification adjustment to net income (loss), net of tax	—		(5,536)		58,062		52,526
Other comprehensive income (loss), net of tax	3,042		3,281		59,575		65,898
Balance at December 31, 2023	(83,037)		801		539		(81,697)
Other comprehensive income (loss)	(295)		240		506		451
Income tax (expense) benefit	—		(72)		(109)		(181)
Other comprehensive income (loss), net of tax	(295)		168		397		270
Reclassification adjustment to net income (loss)	89,038		(1,881)		(141)		87,016
Income tax (expense) benefit	(601)		1,180		31		610
Reclassification adjustment to net income (loss), net of tax	88,437		(701)		(110)		87,626
Other comprehensive income (loss), net of tax	88,142		(533)		287		87,896
Balance at December 31, 2024	5,105		268		826		6,199
Other comprehensive income (loss)	461		2,110		(61)		2,510
Income tax (expense) benefit	—		(473)		13		(460)
Other comprehensive income (loss), net of tax	461		1,637		(48)		2,050
Reclassification adjustment to net income (loss)	—		(1,087)		(1,503)		(2,590)
Income tax (expense) benefit	—		253		510		763
Reclassification adjustment to net income (loss), net of tax	—		(834)		(993)		(1,827)
Other comprehensive income (loss), net of tax	461		803		(1,041)		223
Balance at December 31, 2025	$	5,566	$	1,071	$	(215)	$	6,422

The amounts reclassified out of accumulated other comprehensive income (loss) related to pension and other postretirement benefits are included in the computation of net periodic pension costs, see Note 8 for additional details. The amounts reclassified out of accumulated other comprehensive income (loss) related to foreign currency translation and derivative financial instruments are included in discontinued operations, see Note 15 for additional details.

Recently Issued Accounting Standards.

New accounting pronouncements adopted in 2025:

Accounting standards not yet adopted:

Consolidated Statements Of Comprehensive Income (Loss) (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Statement of Comprehensive Income [Abstract]
Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Tax	$ 0	$ 0	$ 469
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Reclassification Adjustment from AOCI, Realized upon Sale or Liquidation, Tax		(601)
Derivative financial instruments adjustment, tax (benefit)	220	85	933
Tax on Actuarial Loss for Pension Settlement		1,209
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss) Arising During Period, Tax	(13)	109	422
Other Comprehensive (Income) Loss, Defined Benefit Plan, Reclassification Adjustment from AOCI, Tax	(56)	$ (31)	1,968
Tax on Actuarial Gain for OPEB Termination	$ (454)		$ 41,294

Consolidated Statements Of Comprehensive Income (Loss) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 33,476	$ (64,565)	$ (105,905)
Other comprehensive income (loss):
Unrealized foreign currency translation adjustment ($0 tax in 2025, net of tax expense of $0 in 2024 and net of tax expense of $469 in 2023)	461	(295)	3,042
Foreign currency translation loss realized on the sale of Terphane	0	88,437	0
Derivative financial instruments adjustment (net of tax expense of $220 in 2025, net of tax expense of $85 in 2024 and net of tax expense of $933 in 2023)	803	755	3,281
Derivative financial instruments loss realized on the sale of Terphane	0	(1,288)	0
Recognized actuarial gain on the other postretirement benefits termination in 2025 and recognition in earnings of actuarial loss for pension settlement in 2023 (net of tax benefit of $454 in 2025 and net of tax expense of $41,294 on 2023)	(794)	0	50,997
Net gains (losses) and prior service costs (net of tax benefit of $13 in 2025, net of tax expense of $109 in 2024 and net of tax expense of $422 in 2023)	(48)	397	1,513
Amortization of prior service costs and net gains or losses (net of tax benefit of $56 in 2025, net of tax benefit of $31 in 2024 and net of tax expense of $1,968 in 2023)	(199)	(110)	7,065
Other comprehensive income (loss)	223	87,896	65,898
Comprehensive income (loss)	$ 33,699	$ 23,331	$ (40,007)

Income Taxes (Summary of Income Taxes Paid) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2025 USD ($)
Income Tax Paid, by Individual Jurisdiction [Line Items]
Federal	$ (222)
Foreign	466
Income tax payments, net	725
Georgia
Income Tax Paid, by Individual Jurisdiction [Line Items]
State	85
Michigan
Income Tax Paid, by Individual Jurisdiction [Line Items]
State	53
Pennsylvania
Income Tax Paid, by Individual Jurisdiction [Line Items]
State	305
Texas
Income Tax Paid, by Individual Jurisdiction [Line Items]
State	51
Other state jurisdictions
Income Tax Paid, by Individual Jurisdiction [Line Items]
State	$ (13)

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Assets
Cash and cash equivalents	$ 6,729	$ 7,062
Accounts and other receivables, net	81,811	64,817
Income taxes recoverable	47	0
Inventories	64,962	51,381
Prepaid expenses and other	15,525	16,567
Total current assets	169,074	139,827
Property, plant and equipment, at cost:
Land and land improvements	4,294	4,740
Buildings	68,184	67,871
Machinery and equipment	436,952	426,815
Total property, plant and equipment	509,430	499,426
Less: accumulated depreciation	(376,455)	(362,394)
Net property, plant and equipment	132,975	137,032
Right-of-use leased assets	12,764	14,635
Identifiable intangible assets, net	5,568	7,326
Goodwill	22,446	22,446
Deferred income tax assets	26,277	32,517
Other assets	2,268	2,448
Noncurrent assets of discontinued operations	0	126
Total assets	371,372	356,357
Current liabilities:
Accounts payable	75,754	64,704
Accrued expenses	25,411	22,168
Lease liability, short-term	2,263	2,453
Short-term debt	498	1,322
Income taxes payable	455	320
Current liabilities of discontinued operations	0	741
Total current liabilities	104,381	91,708
Lease liability, long-term	10,960	12,993
ABL revolving facility	34,550	60,600
Pension and other postretirement benefit obligations, net	1,196	5,914
Deferred income tax liabilities	0	69
Other non-current liabilities	3,731	4,105
Total liabilities	154,818	175,389
Contingencies (Note 14)
Shareholders’ equity:
Common stock, no par value (authorized 150,000,000 shares, issued and outstanding— 34,737,534 shares at December 31, 2025 and 34,661,272 at December 31, 2024)	65,477	63,590
Common stock held in trust for savings restoration plan (118,542 shares at December 31, 2025 and 118,543 shares at December 31, 2024)	(2,233)	(2,233)
Accumulated other comprehensive income (loss):
Foreign currency translation adjustment	5,566	5,105
Gain (loss) on derivative financial instruments	1,071	268
Pension and other postretirement benefit adjustments	(215)	826
Retained earnings	146,888	113,412
Total shareholders’ equity	216,554	180,968
Total liabilities and shareholders’ equity	$ 371,372	$ 356,357

Cybersecurity Risk Management and Strategy Disclosure	12 Months Ended
Cybersecurity Risk Management and Strategy Disclosure	Dec. 31, 2025
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]	Tredegar’s business model depends on the efficiency and reliability of its information systems, networks, and essential assets, with a portion of these systems and networks being administered by third-party service providers. Tredegar’s Cybersecurity Program (the “Program”), which was designed utilizing a risk-based approach, was developed to not only prevent, identify, investigate, resolve, and mitigate potential cybersecurity vulnerabilities within Tredegar but also to enhance the information security posture of Tredegar’s operations involving third-party service providers. Tredegar entrusts its third-party service providers with the responsibility to institute security measure protocols that are appropriately and proportionally tailored to the corresponding risks. However, Tredegar also periodically conducts assessments of the third-party service providers’ security frameworks to verify the implementation of adequate security measures, to safeguard Tredegar against potential vulnerabilities. The Program leverages a blend of automated systems, manual operations, and external evaluations to proactively identify and mitigate potential cybersecurity threats. Key components of the Program include Tredegar’s Cybersecurity Incident Response Plan and Cyber Crisis Management Plan. These plans encompass a strategic approach that includes: (i) detection of threats, thorough analysis of cybersecurity incidents to determine whether timely notification to Tredegar’s Board of Directors (“Board”) is necessary; (ii) containment of incidents; (iii) eradication or mitigation of threats; (iv) recovery processes; and (v) a comprehensive post-incident review. To further strengthen its cybersecurity posture, Tredegar employs third-party consultants who work with the internal audit and information technology (“IT”) functions to assess Tredegar’s information security program and practices, including incident management, service continuity, and information security compliance programs, and identify areas for improvement. The results of such an assessment are regularly presented to the Audit Committee. Notably, these assessments include periodic penetration tests, which allow Tredegar to identify vulnerabilities, refine procedures, and enhance its crisis management and recovery capabilities. The Program is also supported by an organizational structure, involving collaboration across various business sectors and an interdisciplinary Global Data Protection and Cybersecurity Oversight Team that meets regularly to identify information security risks and appropriate risk mitigation strategies. Additionally, because Tredegar recognizes the significant role that its employees play in information security, it provides annual formal information security training to all of its employees that covers critical topics such as phishing and email security best practices. Furthermore, periodic simulated phishing exercises are conducted to reinforce these practices.
Cybersecurity Risk Management Processes Integrated [Flag]	true
Cybersecurity Risk Management Processes Integrated [Text Block]	Tredegar’s business model depends on the efficiency and reliability of its information systems, networks, and essential assets, with a portion of these systems and networks being administered by third-party service providers. Tredegar’s Cybersecurity Program (the “Program”), which was designed utilizing a risk-based approach, was developed to not only prevent, identify, investigate, resolve, and mitigate potential cybersecurity vulnerabilities within Tredegar but also to enhance the information security posture of Tredegar’s operations involving third-party service providers. Tredegar entrusts its third-party service providers with the responsibility to institute security measure protocols that are appropriately and proportionally tailored to the corresponding risks. However, Tredegar also periodically conducts assessments of the third-party service providers’ security frameworks to verify the implementation of adequate security measures, to safeguard Tredegar against potential vulnerabilities.
Cybersecurity Risk Management Third Party Engaged [Flag]	true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag]	true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]	false
Cybersecurity Risk Board of Directors Oversight [Text Block]	The Board is responsible for risk management, with specific oversight of cybersecurity risks being delegated to the Audit Committee. The Audit Committee receives updates from Tredegar’s and Bonnell’s IT Directors at each of its quarterly meetings. These updates encompass an assessment of Tredegar’s cybersecurity risk profile, including the efficacy of Tredegar’s cybersecurity policies, procedures, strategies, and areas of emerging risk. Additionally, the Board receives annual, but often more frequent, updates on Tredegar’s cybersecurity systems.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]	The Board is responsible for risk management, with specific oversight of cybersecurity risks being delegated to the Audit Committee. The Audit Committee receives updates from Tredegar’s and Bonnell’s IT Directors at each of its quarterly meetings.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]	The Audit Committee receives updates from Tredegar’s and Bonnell’s IT Directors at each of its quarterly meetings. These updates encompass an assessment of Tredegar’s cybersecurity risk profile, including the efficacy of Tredegar’s cybersecurity policies, procedures, strategies, and areas of emerging risk. Additionally, the Board receives annual, but often more frequent, updates on Tredegar’s cybersecurity systems.
Cybersecurity Risk Role of Management [Text Block]	Tredegar’s IT Director and Bonnell’s Director of Information Security are responsible for managing the Program, including the prevention, mitigation, detection and remediation of cybersecurity incidents. Tredegar’s IT Director has over 10 years of cybersecurity expertise, including working in similar roles at other companies, has cybersecurity certifications from EC-Council and ODU Global and holds a degree in Computer Science from Universidade Catolica de Pernambuco and an MBA in IT Management from Universidade Federal de Pernambuco. Bonnell’s Director of Information Security has over 30 years of cybersecurity experience, including working in similar roles at other companies, has cybersecurity certifications from EC-Council and ISC^2 and holds a degree in Mechanical Engineering from the Georgia Institute of Technology. Tredegar’s IT Director and Bonnell’s Director of Information Security also regularly collaborate closely with key management, including the Chief Financial Officer, General Counsel, Compliance Manager, and Human Resources Executive Director, to foster effective communication regarding the Program within Tredegar. The Board is responsible for risk management, with specific oversight of cybersecurity risks being delegated to the Audit Committee. The Audit Committee receives updates from Tredegar’s and Bonnell’s IT Directors at each of its quarterly meetings. These updates encompass an assessment of Tredegar’s cybersecurity risk profile, including the efficacy of Tredegar’s cybersecurity policies, procedures, strategies, and areas of emerging risk. Additionally, the Board receives annual, but often more frequent, updates on Tredegar’s cybersecurity systems.
Cybersecurity Risk Management Positions or Committees Responsible [Flag]	true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]	The Board is responsible for risk management, with specific oversight of cybersecurity risks being delegated to the Audit Committee. The Audit Committee receives updates from Tredegar’s and Bonnell’s IT Directors at each of its quarterly meetings.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]	Tredegar’s IT Director has over 10 years of cybersecurity expertise, including working in similar roles at other companies, has cybersecurity certifications from EC-Council and ODU Global and holds a degree in Computer Science from Universidade Catolica de Pernambuco and an MBA in IT Management from Universidade Federal de Pernambuco.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]	Tredegar’s IT Director and Bonnell’s Director of Information Security are responsible for managing the Program, including the prevention, mitigation, detection and remediation of cybersecurity incidents. Tredegar’s IT Director has over 10 years of cybersecurity expertise, including working in similar roles at other companies, has cybersecurity certifications from EC-Council and ODU Global and holds a degree in Computer Science from Universidade Catolica de Pernambuco and an MBA in IT Management from Universidade Federal de Pernambuco. Bonnell’s Director of Information Security has over 30 years of cybersecurity experience, including working in similar roles at other companies, has cybersecurity certifications from EC-Council and ISC^2 and holds a degree in Mechanical Engineering from the Georgia Institute of Technology. Tredegar’s IT Director and Bonnell’s Director of Information Security also regularly collaborate closely with key management, including the Chief Financial Officer, General Counsel, Compliance Manager, and Human Resources Executive Director, to foster effective communication regarding the Program within Tredegar. The Board is responsible for risk management, with specific oversight of cybersecurity risks being delegated to the Audit Committee. The Audit Committee receives updates from Tredegar’s and Bonnell’s IT Directors at each of its quarterly meetings. These updates encompass an assessment of Tredegar’s cybersecurity risk profile, including the efficacy of Tredegar’s cybersecurity policies, procedures, strategies, and areas of emerging risk. Additionally, the Board receives annual, but often more frequent, updates on Tredegar’s cybersecurity systems.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag]	true

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Dec. 31, 2025
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

Retirement Plans And Other Postretirement Benefits

12 Months Ended

Dec. 31, 2025

Retirement Benefits [Abstract]

Retirement Plans And Other Postretirement Benefits

8. RETIREMENT PLANS AND OTHER POSTRETIREMENT BENEFITS

Tredegar sponsored a noncontributory defined benefit (pension) plan covering certain current and former U.S. employees. The plan for salaried and hourly employees was based on a formula using the participant’s years of service and compensation or using the participant’s years of service and a dollar amount. The plan is closed to new participants and pay for active plan participants for benefit calculations was frozen as of December 31, 2007. 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 total 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. The plan was designed to restore all or a part of the pension benefits that would have been payable to designated participants from the principal pension plans if it were not for limitations imposed by income tax regulations. The projected benefit obligation relating to this unfunded plan was $1.4 million and $1.5 million at December 31, 2025 and December 31, 2024, respectively. Pension expense recognized for this plan was $0.1 million in 2025, 2024 and 2023. This information has been included in the pension benefit tables below.

In addition to providing pension benefits, the Company provided Other Post-Retirement Benefits of life insurance and health care benefits for certain groups of employees. Tredegar and retirees shared in the cost of postretirement health care benefits, with employees hired on or before January 1, 1993, receiving a fixed subsidy to cover a portion of their health care premiums. The Company eliminated prescription drug coverage for Medicare-eligible retirees as of January 1, 2006. Consequently, Tredegar is not eligible for any federal subsidies.

On October 31, 2025, Tredegar terminated the Other Post-Retirement Benefits by prefunding $0.1 million, representing all required contributions for the remainder of 2025. The Other Post-Retirement Benefits total obligation and unrecognized pre-tax actuarial gain reported in the consolidated balance sheets was $5.0 million and $1.3 million, respectively, which was realized in the income statement during the fourth quarter of 2025.

The following tables reconcile the changes in benefit obligations and plan assets in 2025 and 2024, and reconcile the funded status to prepaid or accrued cost at December 31, 2025 and 2024:


	Pension Benefits				Other Post- Retirement Benefits
(In thousands)	2025		2024		2025		2024
Change in benefit obligation:
Benefit obligation, beginning of year	$	1,478	$	1,600	$	5,078	$	5,712
Service cost	—		—		9		9
Interest cost	78		75		225		274
Effect of actuarial (gains) losses related to the following:
Discount rate change	39		(60)		166		(305)

Other	(20)		47		(93)		(193)
Plan participant contributions	—		—		357		456
Benefits paid	(199)		(184)		(725)		(875)
Termination of Other Post-Retirement Benefits plan	—		—		(5,017)		—
Benefit obligation, end of year	$	1,376	$	1,478	$	—	$	5,078
Change in plan assets:
Plan assets at fair value, beginning of year	$	—	$	—	$	—	$	—
Actual return on plan assets	—		—		—		—
Employer contributions	199		184		368		419
Plan participant contributions	—		—		357		456
Benefits paid	(199)		(184)		(725)		(875)

Plan assets at fair value, end of year	$	—	$	—	$	—	$	—
Funded status of the plans	$	(1,376)	$	(1,478)	$	—	$	(5,078)
Amounts recognized in the consolidated balance sheets:
Accrued expenses (current)	$	180	$	161	$	—	$	481
Pension and other postretirement benefit obligations, net	1,196		1,317		—		4,597
Net amount recognized	$	1,376	$	1,478	$	—	$	5,078

The following table sets forth the assumptions used in accounting for the pension and other post-retirement benefits, and the components of net periodic benefit cost:


	Pension Benefits									Other Post- Retirement Benefits
(In thousands, except percentages)	2025			2024			2023			2025			2024			2023
Weighted-average assumptions used to determine benefit obligations:
Discount rate	5.07		%	5.49		%	4.89		%	—		%	5.63		%	4.98		%

Weighted-average assumptions used to determine net periodic benefit cost:
Discount rate(a)	5.49		%	4.89%			5.07%/5.37%			5.63%/5.25%			4.98		%	5.17		%

Components of net periodic benefit cost:
Service cost	$	—		$	—		$	—		$	9		$	9		$	10
Interest cost	78			75			9,623			225			274			288
Expected return on plan assets	—			—			(8,109)			—			—			—
Amortization of prior service costs and gains or losses	20			21			9,245			(275)			(162)			(213)
Net periodic benefit cost	$	98		$	96		$	10,759		$	(41)		$	121		$	85
Pension settlement loss and (gain) on Other Post-Retirement Benefits termination	—			—			92,291			(6,265)			—			—
Total benefit cost	$	98		$	96		$	103,050		$	(6,306)		$	121		$	85
(a) Prior to the Other Post-Retirement Benefits termination in October 2025, a discount rate of 5.63% was used to determine the net periodic benefit cost. On October 31, 2025, a discount rate of 5.25% was used to determine the settlement. Prior to the pension lump sum distributions in August 2023, a discount rate of 5.07% was used to determine the net periodic benefit cost. Subsequent to August 2023, a discount rate of 5.37% was used to determine the net periodic benefit cost until the Company purchased a nonparticipating single premium group annuity contract in October 2023.

Net periodic benefit cost is determined using assumptions at the beginning of each year. Funded status is determined using assumptions at the end of each year. The amount of the accumulated benefit obligation is the same as the projected benefit obligation. At December 31, 2025, the effect of a 1% change in the health care cost trend rate assumptions would not impact the post-retirement obligation.

Expected benefit payments over the next five years and in the aggregate for 2031—2035 are as follows:


(In thousands)	Pension Benefits
2026	$	179
2027	170
2028	160
2029	151
2030	141
2031—2035	576

The pre-tax amounts recorded in 2025, 2024 and 2023 in accumulated other comprehensive income (loss) consist of:


	Pension Benefits						Other Post-Retirement Benefits
(In thousands)	2025		2024		2023		2025		2024		2023
Net actuarial (gain) loss	$	454	$	384	$	415	$	—	$	(1,534)	$	(1,250)

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (o)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (p)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (q)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 60
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480266/715-60-50-3

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480126/715-20-S99-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 70
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480794/715-70-50-1

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480482/715-20-55-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(iv)(03)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (l)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/715/tableOfContent

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(iii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (r)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (r)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

+ Details

Insider Trading Policies and Procedures	12 Months Ended
Insider Trading Policies and Procedures	Dec. 31, 2025
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Consolidated Statements Of Income - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Revenues and other:
Sales	$ 722,864	$ 598,025	$ 573,323
Other income (expense), net	1,399	(952)	(2,149)
Total revenues, net of other expenses	724,263	597,073	571,174
Costs and expenses:
Selling, general and administrative	79,030	72,970	65,388
Research and development	702	711	2,894
Amortization of identifiable intangibles	1,758	1,778	1,758
Accrued pension and postretirement benefits	57	217	10,844
Interest and Debt Expense	4,003	4,664	6,316
Asset impairments and costs associated with exit and disposal activities, net of adjustments	855	613	5,060
OPEB termination gain	(6,265)	0	0
Pension settlement loss and (gain) on Other Post-Retirement Benefits termination	0	0	92,291
Goodwill impairment	0	13,271	34,891
Total	693,594	596,193	721,639
Income (loss) from continuing operations before income taxes	30,669	880	(150,465)
Income tax expense (benefit)	6,584	(165)	(51,300)
Net income (loss) from continuing operations	24,085	1,045	(99,165)
Disposal Group, Including Discontinued Operation, Operating Income (Loss)	9,391	(65,610)	(6,740)
Net income (loss)	$ 33,476	$ (64,565)	$ (105,905)
Basic
Continuing operations (in usd per share)	$ 0.69	$ 0.03	$ (2.91)
Discontinued operations (in usd per share)	0.27	(1.91)	(0.19)
Earnings Per Share, Basic	0.96	(1.88)	(3.10)
Diluted:
Continuing operations (in usd per share)	0.69	0.03	(2.91)
Discontinued Operation, Income (Loss) from Discontinued Operation, Net of Tax, Per Diluted Share	0.27	(1.91)	(0.19)
Net income (in usd per share)	$ 0.96	$ (1.88)	$ (3.10)
Weighted Average Number of Shares Issued, Basic	34,735	34,346	34,133
Weighted Average Number of Shares Outstanding, Diluted, Adjustment	34,735	34,346	34,133
Product and Service, Other
Costs and expenses:
Cost of Product and Service Sold	$ 589,321	$ 480,958	$ 480,440
Freight
Costs and expenses:
Cost of Product and Service Sold	$ 24,133	$ 21,011	$ 21,757

Business Segments (Schedule Of Depreciation And Amortization, Capital Expenditures) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Segment Reporting Information [Line Items]
Capital Expenditures	$ 17,241	$ 14,347	$ 26,446
Amortization of identifiable intangibles	0	2,313	2,865
Capital Expenditure, Discontinued Operations	0	2,489	4,323
Operating Segments
Segment Reporting Information [Line Items]
Depreciation and Amortization	21,729	25,537	27,683
Capital Expenditures	17,241	14,347	26,446
Aluminum Extrusions \| Operating Segments
Segment Reporting Information [Line Items]
Depreciation and Amortization	16,640	17,722	17,927
Capital Expenditures	15,392	10,097	20,339
High Performance Films \| Operating Segments
Segment Reporting Information [Line Items]
Depreciation and Amortization	4,895	5,200	6,522
Capital Expenditures	1,849	1,761	1,772
Subtotal
Segment Reporting Information [Line Items]
Depreciation and Amortization	21,535	22,922	24,449
Subtotal \| Operating Segments
Segment Reporting Information [Line Items]
Depreciation and Amortization	21,535	22,922	24,449
Capital Expenditures	17,241	11,858	22,111
General corporate \| Operating Segments
Segment Reporting Information [Line Items]
Depreciation and Amortization	194	302	369
Capital Expenditures	$ 0	$ 0	$ 12

Discontinued Operations (Summary of Income (Loss) From Discontinued Operations, Net Of Tax) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023	Nov. 01, 2024
Discontinued Operations and Disposal Groups [Abstract]
Sales	$ 0	$ 118,382	$ 131,502
Disposal Group, Including Discontinued Operation, Other Income (Expense), Net	0	(8)	2
Revenues and other items	0	118,390	131,504
Cost of goods sold	0	97,919	118,669
Freight	0	5,598	5,177
Disposal Group, Including Discontinued Operation, General and Administrative Expense	387	7,608	10,819
Disposal Group, Including Discontinued Operation, Research and Development	0	655	867
Disposal Group, Including Discontinued Operation, Amortization of Intangibles	0	78	139
Disposal Group, Including Discontinued Operation, Interest Expense	0	7,532	5,291
Disposal Group, Including Discontinued Operation, Other Expense	0	0	107
(Gain) loss on sale of divested business	9,657	(74,877)	0
Disposal Group, Including Discontinued Operation, Operating Expense	(9,270)	194,267	141,069
Discontinued Operation, Income (Loss) from Discontinued Operation, before Income Tax	9,270	(75,877)	(9,565)
Discontinued Operation, Tax Effect of Discontinued Operation	(121)	(10,267)	(2,825)
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent	9,391	(65,610)	$ (6,740)
Disposal Group, Including Discontinued Operation, Debt	20,000			$ 20,000
Disposal Group, Including Discontinued Operation, Allocated Interest Expense	$ 1,900	$ 400

Leases, Codification Topic 842 (Tables)

12 Months Ended

Dec. 31, 2025

Leases [Abstract]

Lessee, Operating Lease, Liability, Maturity

The following table presents a maturity analysis of the Company’s operating leases as of December 31, 2025:


(In thousands)
	Future Lease Payments
2026		$	2,833
2027		2,430
2028		2,196
2029		2,205
2030		2,223
Thereafter		3,481
Total undiscounted operating lease payments		15,368
Less: Imputed interest		2,145
Present value of operating lease liabilities		$	13,223

Lease, Cost


(In thousands)	2025			2024
Operating lease expense	$	2,855		$	4,350




Other Information:
Weighted-average remaining lease term for operating leases	9 years			10 years
Weighted-average discount rate for operating leases	4.81		%	4.77		%

Income Taxes (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
Income Taxes (Narrative) (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Income Taxes [Line Items]
Income tax expense (benefit)	$ 6,584	$ (165)	$ (51,300)
Income tax expense (benefit) at effective income tax rate	21.50%	(18.80%)	34.10%
Deferred Tax Assets, Tax Credit Carryforwards	$ 21,200	$ 25,200
Operating Loss Carryforwards	13,800	13,500
Deferred Tax Asset, Interest Carryforward	500
Less: Valuation allowance	14,623	15,220
Deferred Tax Assets, State Taxes	500	1,100
State And Foreign Net Operating Loss Carryforwards
Income Taxes [Line Items]
Less: Valuation allowance	13,700	14,000
Capital Loss Carryforward
Income Taxes [Line Items]
Less: Valuation allowance	$ 400	$ 200
Maximum
Income Taxes [Line Items]
Net Operating Loss Carrforward Expiration Period	20 years

Retirement Plans And Other Postretirement Benefits (Narrative) (Details) - USD ($) $ in Thousands		12 Months Ended
	Oct. 31, 2025	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Defined Benefit Plan Disclosure [Line Items]
Pension settlement loss and (gain) on Other Post-Retirement Benefits termination		$ 0	$ 0	$ 92,291
Charges recognized		4,300	3,700	3,800
Prefunding Of Other Post Retirement Benefits	$ 100
Other Post Retirement Benefits Total Obligation		5,000
Unrecognized Pre-tax Actuarial Gain on Other Post Retirement Benefits		$ 1,300
Percentage of change in health care cost trend rate assumptions would be immaterial		1.00%
Unfunded Non-Qualified Supplemental Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Projected benefit obligation to unfunded plan		$ 1,400	1,500
Charges recognized		$ 100	$ 100	$ 100

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Stock Option And Stock Award Plans (Summary of SARs) (Details) - $ / shares	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Beginning Balance	334,446	444,718	498,687
Forfeited and expired	(5,340)	(110,272)	(53,969)
Ending Balance	329,106	334,446	444,718
Beginning balance	$ 13.48	$ 13.57	$ 13.49
Forfeited and expired	15.25	13.85	12.78
Ending balance	13.45	13.48	13.57
Minimum
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Beginning balance	10.75	10.75	10.75
Forfeited and expired	10.75	10.75	10.75
Ending balance	10.75	10.75	10.75
Maximum
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Beginning balance	16.37	16.37	16.37
Forfeited and expired	16.37	16.37	16.37
Ending balance	$ 16.37	$ 16.37	$ 16.37

Income Taxes

12 Months Ended

Dec. 31, 2025

Income Tax Disclosure [Abstract]

Income Taxes

11. INCOME TAXES

Income (loss) from continuing operations before income taxes is as follows:


(In thousands)	2025		2024		2023
Income (loss) from continuing operations before income taxes:
Domestic	$	29,745	$	(523)	$	(151,488)
Foreign	924		1,403		1,023
Total	$	30,669	$	880	$	(150,465)

Income tax expense (benefit) from continuing operations is as follows:


(In thousands)	2025		2024		2023
Current income tax expense (benefit):
Federal	$	(563)	$	(106)	$	(39,929)
State	691		704		(39)
Foreign	279		123		241
Total	407		721		(39,727)
Deferred income tax expense (benefit):
Federal	6,104		(470)		(11,758)
State	137		(517)		198
Foreign	(64)		101		(13)
Total	6,177		(886)		(11,573)
Total income tax expense (benefit) for continuing operations
Federal	5,541		(576)		(51,687)
State	828		187		159
Foreign	215		224		228
Total	6,584		(165)		(51,300)

Below is a tabular rate reconciliation pursuant to the disclosure requirements of ASU 2023-09 for the year ended December 31, 2025.


	2025
(In thousands, except percentages)	Amount		%
U.S. federal statutory tax rate	$	6,441	21.0
U.S. domestic federal
Tax credits
Research and development tax credit	(930)		(3.0)
Changes in valuation allowances	192		0.6
Nontaxable or nondeductible items
Stock based compensation	493		1.6
Executive compensation	384		1.3
Other	75		0.2
Other adjustments	112		0.4
State and local income tax, net of federal (national) income tax effect1	683		2.2
Foreign tax effects
Other foreign jurisdictions	20		0.1
Changes in unrecognized tax benefits	(886)		(2.9)
Effective tax rate	$	6,584	21.5
1.State taxes in Pennsylvania and Georgia made up the majority (greater than 50 percent) of the tax effect in this category.


	2024			2023
(In thousands, except percentages)	Amount		%	Amount		%
Income tax expense (benefit) at federal statutory rate	$	185	21.0	$	(31,598)	21.0
Stock-based compensation	409		46.5	136		(0.1)
Changes in estimates related to prior year tax provision	326		37.0	559		(0.4)
Non-deductible other	282		32.0	144		(0.1)
Foreign rate differences	57		6.5	39		—
State taxes, net of federal income tax benefit	28		3.2	168		(0.1)
U.S. tax on foreign branch income	—		—	1,693		(1.1)
Stranded taxes released with termination of pension	—		—	(21,913)		14.6
Tax contingency accruals and tax settlements	(1)		(0.1)	1		—
Changes in federal valuation allowance	(654)		(74.3)	237		(0.2)
Research and development tax credit	(797)		(90.6)	(766)		0.5
Income tax expense (benefit) at effective income tax rate	$	(165)	(18.8)	$	(51,300)	34.1

Provision (benefit) for income taxes for the year ended December 31, 2025 was $6.6 million compared to $(0.2) million for the year ended December 31, 2024. The effective tax rates for the years ended December 31, 2025 and 2024 were 21.5% and (18.8)%, respectively. The change in effective tax rate was primarily due to higher pre-tax income from continuing operations in 2025 than in 2024. The tax rate in 2024 was impacted by the release of valuation allowance on deferred taxes. The tax rate in 2023 was impacted by a pre-tax loss and tax benefits previously recorded in other comprehensive income (loss) that were released in 2023 as a result of the pension plan termination. The stranded taxes released with the termination of the pension plan represent the effect of the change in federal and state tax rates on pension-related deferred tax items initially recorded in other comprehensive income. The related stranded taxes were released in full in 2023.

Disclosed below is a summary of income taxes paid (refunded) by jurisdiction for continuing operations pursuant to the disclosure requirements of ASU 2023-09 for the year ended December 31, 2025.


(In thousands)	Year Ended December 31, 2025
Federal
United States	$	(222)
State
Georgia	85
Michigan	53
Pennsylvania	305
Texas	51
Other state jurisdictions	(13)
Foreign
China	466
Total cash taxes paid for continuing operations	$	725

Deferred income tax assets and deferred income tax liabilities for continuing operations at December 31, 2025 and 2024, are as follows:


(In thousands)	2025		2024
Deferred income tax assets:
Employee benefits	$	4,511	$	6,381
Basis difference in capital assets	430		430
Inventory	1,754		956
Asset write-offs, divestitures and environmental accruals	857		3,656
U.S. federal and state NOL and credit carryforwards	35,000		38,706
Capitalized R&D expenditures	8,672		8,169
Other	633		815
Lease liabilities	2,933		3,419
Interest expense limitation carryforward	—		471

Deferred income tax assets before valuation allowance	54,790		63,003
Less: Valuation allowance	14,623		15,220
Total deferred income tax assets	$	40,167	$	47,783
Deferred income tax liabilities:
Goodwill and identifiable intangibles	$	1,704	$	1,019
Property, plant and equipment	7,502		9,086



Right-of-use leased assets	2,806		3,210
Other	1,878		2,020
Total deferred income tax liabilities	13,890		15,335
Net deferred income tax assets (liabilities)	$	26,277	$	32,448
Amounts recognized in the consolidated balance sheets:
Deferred income tax assets (noncurrent)	$	26,277	$	32,517
Deferred income tax liabilities (noncurrent)	—		69
Net deferred income tax assets (liabilities)	$	26,277	$	32,448

Except as noted below, the Company believes that it is more likely than not that future taxable income will exceed future tax-deductible amounts thereby resulting in the realization of deferred income tax assets. The Company had U.S. federal and state tax credits of $21.2 million and state net operating loss carryforwards of $13.8 million at December 31, 2025. The Company had U.S. federal and state tax credits of $25.2 million and state net operating loss carryforwards of $13.5 million and a deferred interest limitation of $0.5 million at December 31, 2024. The U.S. federal foreign tax credits will expire between 2026-2035 and the U.S. federal research and development tax credits will expire between 2039-2045. The U.S. state carryforwards expire at different points over the next 20 years.

Valuation allowances of $13.7 million and $14.0 million at December 31, 2025 and 2024, respectively, are recorded against the tax benefit on state tax credits and net operating loss carryforwards generated by domestic subsidiaries that may not be recoverable in the carryforward period. The valuation allowance for unrealized capital losses from investments and other related items was $0.4 million and $0.2 million at December 31, 2025 and 2024, respectively. Valuation allowances of $0.5 million and $1.1 million at December 31, 2025 and 2024, respectively, were recorded against certain other deferred state tax assets. As circumstances and events warrant, allowances will be reversed when it is more likely than not that future taxable income will exceed deductible amounts, thereby resulting in the realization of deferred income tax assets.

A reconciliation of the Company’s unrecognized uncertain tax positions since January 1, 2023, is shown below:


	Years Ended December 31,
(In thousands)	2025		2024		2023
Balance at beginning of period	$	840	$	659	$	628
Increase (decrease) due to tax positions taken in:
Current period	—		25		25
Prior period	—		158		23
Reductions due to lapse of statute of limitations	(840)		(2)		(17)
Balance at end of period	$	—	$	840	$	659

At December 31, 2025, the Company had no unrecognized uncertain tax positions. The Company records interest expense related to uncertain tax positions in income tax expense on the Consolidated Statements of Income (Loss) with the balance of accrued interest in other noncurrent liabilities on the Consolidated Balance Sheet. The Company accrued immaterial interest expense related to uncertain tax positions for all periods presented.

Tredegar, or one of its subsidiaries, files income tax returns in the U.S. federal jurisdiction, various states and jurisdictions outside the U.S. With few exceptions, Tredegar is no longer subject to U.S. federal, state or non-U.S. income tax examinations by tax authorities for years before 2022.

On July 4, 2025, new U.S. tax legislation was signed into law (known as the “One Big Beautiful Bill Act” or “OBBBA”), which makes permanent many of the tax provisions enacted in 2017 as part of the Tax Cuts and Jobs Act that were set to expire at the end of 2025. In addition, the OBBBA makes changes to certain U.S. corporate tax provisions, which have various effective dates. OBBBA did not have a material impact on the Company’s tax provision and effective rate for 2025.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 740
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477617/942-740-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-Topic 740
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
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+ Details