EQUITY AND NONCONTROLLING INTERESTS (Tables)

12 Months Ended

Dec. 25, 2021

The following table reconciles the numerator and denominator in the computations of basic and diluted earnings per share:


	Fiscal Year
	2021		2020		2019
	(in thousands)
Numerator:
Net income	$	398,837	$	365,306	$	254,061
Less: Net income attributable to noncontrolling interests	7,855		1,002		2,042
Net income attributable to common shareholders	$	390,982	$	364,304	$	252,019

Denominator:
Weighted-average shares outstanding—Basic	50,293		49,550		48,730
Effect of dilutive securities:
Stock options, restricted stock units and performance share units	1,132		1,061		963
Weighted-average shares outstanding—Diluted	51,425		50,611		49,693

Changes to each component of accumulated other comprehensive income (loss), net of income taxes, are as follows:


	Foreign Currency Translation Adjustment and Other		Pension and Other Post-Retirement Benefit Plans		Total
	(in thousands)
December 28, 2019	$	(87,578)	$	(90,441)	$	(178,019)
Other comprehensive income before reclassifications (1)	20,909		15,747		36,656
Amounts reclassified from accumulated other comprehensive income	—		17,861		17,861
Net current period other comprehensive income	20,909		33,608		54,517
Income tax expense	7,215		8,157		15,372
December 26, 2020	(73,884)		(64,990)		(138,874)
Other comprehensive loss before reclassifications (1)	(30,316)		(1,193)		(31,509)
Amounts reclassified from accumulated other comprehensive income	—		1,678		1,678
Net current period other comprehensive loss	(30,316)		485		(29,831)
Income tax (benefit) expense	(6,027)		2,062		(3,965)
December 25, 2021	$	(98,173)	$	(66,567)	$	(164,740)
(1) The impact of the foreign currency translation adjustment to other comprehensive income (loss) before reclassifications was primarily due to the effect of changes in foreign currency exchange rates of the Japanese Yen, Euro, British Pound, Canadian Dollar, Chinese Yuan Renminbi, and Hungarian Forint and to a lesser extent due to the impact of changes in the Brazilian Real.

The following table provides a rollforward of the activity related to the Company’s redeemable noncontrolling interests:


	Fiscal Year
	2021		2020
	(in thousands)
Beginning balance	$	25,499	$	28,647
Adjustment of noncontrolling interests to redemption value	21,312		—
Purchase of a 10% redeemable noncontrolling interest	—		(3,732)
Net income (loss) attributable to noncontrolling interests	5,375		(852)
Foreign currency translation	824		1,436
Ending balance	$	53,010	$	25,499