Accumulated Other Comprehensive Income (Loss)

9 Months Ended

Oct. 02, 2021

Accumulated Other Comprehensive Income (Loss) [Abstract]

Accumulated Other Comprehensive Income (Loss)

Note 7 – Accumulated Other Comprehensive Income (Loss)

The cumulative balance of each component of other comprehensive income (loss) and the income tax effects allocated to each component are as follows:

	Pension and other post- retirement actuarial items			Currency translation adjustment			Total
Balance at January 1, 2021	$	(77,075	)	$	90,634		$	13,559
Other comprehensive income before reclassifications		-			(34,906	)	$	(34,906	)
Tax effect		-			-		$	-
Other comprehensive income before reclassifications, net of tax		-			(34,906	)	$	(34,906	)
Amounts reclassified out of AOCI		7,951			-		$	7,951
Tax effect		(2,217	)		-		$	(2,217	)
Amounts reclassified out of AOCI, net of tax		5,734			-		$	5,734
Net other comprehensive income	$	5,734		$	(34,906	)	$	(29,172	)
Balance at October 2, 2021	$	(71,341	)	$	55,728		$	(15,613	)

Reclassifications of pension and other post-retirement actuarial items out of AOCI are included in the computation of net periodic benefit cost.  See Note 8 for further information.