Accumulated Other Comprehensive Loss |
Accumulated Other Comprehensive Loss The components of accumulated other comprehensive loss (“AOCI”) are as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Cumulative Translation Adjustment(1) | | Cash Flow Hedges | | Defined Benefit Plans | | Income Taxes | | Accumulated Other Comprehensive Loss | Balance at July 3, 2021 | $ | (89,252) | | | $ | (8,826) | | | $ | (654,048) | | | $ | 171,198 | | | $ | (580,928) | | Amounts reclassified from accumulated other comprehensive loss | — | | | 14,905 | | | 6,179 | | | (3,980) | | | 17,104 | | Current-period other comprehensive income (loss) activity | (42,330) | | | (5,144) | | | 274 | | | (304) | | | (47,504) | | Total other comprehensive income (loss) | (42,330) | | | 9,761 | | | 6,453 | | | (4,284) | | | (30,400) | | | | | | | | | | | | Balance at October 2, 2021 | $ | (131,582) | | | $ | 935 | | | $ | (647,595) | | | $ | 166,914 | | | $ | (611,328) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Cumulative Translation Adjustment(1) | | Cash Flow Hedges | | Defined Benefit Plans | | Income Taxes | | Accumulated Other Comprehensive Loss | Balance at January 2, 2021 | $ | (52,820) | | | $ | (26,538) | | | $ | (668,730) | | | $ | 181,129 | | | $ | (566,959) | | Amounts reclassified from accumulated other comprehensive loss | — | | | 24,818 | | | 19,286 | | | (9,977) | | | 34,127 | | Current-period other comprehensive income (loss) activity | (78,762) | | | 2,655 | | | 1,849 | | | (4,238) | | | (78,496) | | Total other comprehensive income (loss) | (78,762) | | | 27,473 | | | 21,135 | | | (14,215) | | | (44,369) | | | | | | | | | | | | Balance at October 2, 2021 | $ | (131,582) | | | $ | 935 | | | $ | (647,595) | | | $ | 166,914 | | | $ | (611,328) | |
(1)Cumulative Translation Adjustment includes translation adjustments and net investment hedges. See Note, “Financial Instruments and Risk Management” for additional disclosures about net investment hedges. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Cumulative Translation Adjustment(1) | | Cash Flow Hedges | | Defined Benefit Plans | | Income Taxes | | Accumulated Other Comprehensive Loss | Balance at June 27, 2020 | $ | (179,259) | | | $ | 9,641 | | | $ | (619,140) | | | $ | 157,749 | | | $ | (631,009) | | Amounts reclassified from accumulated other comprehensive loss | — | | | (7,278) | | | 5,428 | | | 657 | | | (1,193) | | Current-period other comprehensive income (loss) activity | 23,678 | | | (7,007) | | | (234) | | | 982 | | | 17,419 | | Total other comprehensive income (loss) | 23,678 | | | (14,285) | | | 5,194 | | | 1,639 | | | 16,226 | | | | | | | | | | | | Balance at September 26, 2020 | $ | (155,581) | | | $ | (4,644) | | | $ | (613,946) | | | $ | 159,388 | | | $ | (614,783) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Cumulative Translation Adjustment(1) | | Cash Flow Hedges | | Defined Benefit Plans | | Income Taxes | | Accumulated Other Comprehensive Loss | Balance at December 28, 2019 | $ | (157,138) | | | $ | 4,786 | | | $ | (629,360) | | | $ | 164,064 | | | $ | (617,648) | | Amounts reclassified from accumulated other comprehensive loss | — | | | (15,452) | | | 15,717 | | | 241 | | | 506 | | Current-period other comprehensive income (loss) activity | 1,557 | | | 6,022 | | | (303) | | | (4,917) | | | 2,359 | | Total other comprehensive income (loss) | 1,557 | | | (9,430) | | | 15,414 | | | (4,676) | | | 2,865 | | | | | | | | | | | | Balance at September 26, 2020 | $ | (155,581) | | | $ | (4,644) | | | $ | (613,946) | | | $ | 159,388 | | | $ | (614,783) | |
(1)Cumulative Translation Adjustment includes translation adjustments and net investment hedges. See Note, “Financial Instruments and Risk Management” for additional disclosures about net investment hedges. The Company had the following reclassifications out of AOCI: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Component of AOCI | | Location of Reclassification into Income | | Amount of Reclassification from AOCI | | Quarters Ended | | Nine Months Ended | | October 2, 2021 | | September 26, 2020 | | October 2, 2021 | | September 26, 2020 | Gain (loss) on forward foreign exchange contracts designated as cash flow hedges | | Cost of sales | | $ | (4,506) | | | $ | 5,949 | | | $ | (14,161) | | | $ | 10,576 | | | | Income tax | | 1,203 | | | (1,757) | | | 3,855 | | | (3,002) | | | | Loss from discontinued operations, net of tax | | (876) | | | 1,004 | | | (2,398) | | | 3,722 | | | | Net of tax | | (4,179) | | | 5,196 | | | (12,704) | | | 11,296 | | | | | | | | | | | | | Gain (loss) on cross-currency swap contracts designated as cash flow hedges | | Selling, general and administrative expenses | | (8,134) | | | — | | | (5,523) | | | — | | | | Interest expense, net | | (1,187) | | | — | | | (2,205) | | | — | | | | Income tax | | 996 | | | — | | | 773 | | | — | | | | Net of tax | | (8,325) | | | — | | | (6,955) | | | — | | | | | | | | | | | | | Amortization of deferred actuarial loss and prior service cost | | Other expenses | | (6,026) | | | (5,430) | | | (19,814) | | | (13,658) | | | | Income tax | | 1,580 | | | 1,425 | | | 4,922 | | | 3,919 | | | | Loss from discontinued operations, net of tax | | (154) | | | 2 | | | 424 | | | (2,063) | | | | Net of tax | | (4,600) | | | (4,003) | | | (14,468) | | | (11,802) | | | | | | | | | | | | | Total reclassifications | | | | $ | (17,104) | | | $ | 1,193 | | | $ | (34,127) | | | $ | (506) | |
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