Accumulated Other Comprehensive Income (Loss)

6 Months Ended

Jul. 02, 2022

Accumulated Other Comprehensive Income (Loss) [Abstract]

Accumulated Other Comprehensive Income (Loss)

Note 8 – 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, 2022	$	(58,908	)	$	38,656		$	(20,252	)
Other comprehensive income (loss) before reclassifications		-			(63,016	)	$	(63,016	)
Tax effect		-			-		$	-
Other comprehensive income before reclassifications, net of tax		-			(63,016	)	$	(63,016	)
Amounts reclassified out of AOCI		4,269			-		$	4,269
Tax effect		(1,345	)		-		$	(1,345	)
Amounts reclassified out of AOCI, net of tax		2,924			-		$	2,924
Net other comprehensive income (loss)	$	2,924		$	(63,016	)	$	(60,092	)
Balance at July 2, 2022	$	(55,984	)	$	(24,360	)	$	(80,344	)

Reclassifications of pension and other post-retirement actuarial items out of AOCI are included in the computation of net periodic benefit cost.  See Note 9 for further information.