In what it calls a presentation error Ecovyst Inc. (ECVT), a chemicals and specialty catalysts maker, corrected two years of inaccurate pension plan reporting. The company says it identified errors in components of accumulated other comprehensive income (loss) that originated in the year ended December 31, 2021 and remained uncorrected through the quarter ended March 31, 2023.

The errors originated in Ecovyst’s pension plan accounting and reveal the company:

—Overstated plan by $12.6 million, or 583% in 2021
—Overstated net gain from hedging activities $1.9 million, or 677%

Ecovyst also inaccurately reported foreign currency translation.

Later, rather than a presentation error, Ecovyst characterized the matter as a classification error but said the errors did not impact total accumulated other comprehensive income (loss) for the impacted periods.