Accumulated Other Comprehensive Income (Loss)

6 Months Ended

Jun. 29, 2024

Accumulated other comprehensive income (loss) [Text Block]

Accumulated Other Comprehensive Income (Loss)

Comprehensive income (loss) is comprised of net income (net loss) and other components, including foreign currency translation adjustments and defined benefit pension plan adjustments.

The following summarizes the components of other comprehensive income (loss) accumulated in shareholders’ equity for the three and six months ended June 29, 2024 and July 1, 2023:


Three Months Ended June 29, 2024	Foreign Currency		Available for Sale Securities		Defined Benefit Pension Plans		Accumulated Other Comprehensive Income (Loss)
Balance at March 30, 2024	$	(5,503)	$	(44)	$	45	$	(5,502)
Other comprehensive income (loss) before reclassifications
Translation adjustment	$	(245)	$	—	$	—	$	(245)
Unrealized losses	—		(55)		—		(55)


Tax effect	—		26		—		26
Net of tax amount	(245)		(29)		—		(274)
Balance at June 29, 2024	$	(5,748)	$	(73)	$	45	$	(5,776)

Three Months Ended July 1, 2023	Foreign Currency		Available-for-Sale Securities		Defined Benefit Pension Plans		Accumulated Other Comprehensive Income (Loss)
Balance at April 1, 2023	$	(5,480)	$	(258)	$	122	$	(5,616)
Other comprehensive income (loss) before reclassifications
Translation adjustment	$	565	$	—	$	—	$	565
Unrealized losses	—		(110)		—		(110)

Amounts reclassified from accumulated other comprehensive income (loss)	—		7		—		7
Tax effect	—		21		—		21
Net of tax amount	565		(82)		—		483
Balance at July 1, 2023	$	(4,915)	$	(340)	$	122	$	(5,133)

Six Months Ended June 29, 2024	Foreign Currency		Available-for-Sale Securities		Defined Benefit Pension Plans		Accumulated Other Comprehensive Income (Loss)
Balance at January 1, 2024	$	(4,922)	$	92	$	45	$	(4,785)
Other comprehensive income (loss) before reclassifications
Translation adjustment	$	(826)	$	—	$	—	$	(826)
Unrealized losses	—		(207)		—		(207)


Tax effect	—		42		—		42
Net of tax amount	(826)		(165)		—		(991)
Balance at June 29, 2024	$	(5,748)	$	(73)	$	45	$	(5,776)


Six Months Ended July 1, 2023	Foreign Currency		Available-for-Sale Securities		Defined Benefit Pension Plans		Accumulated Other Comprehensive Income (Loss)
Balance at January 1, 2023	$	(5,511)	$	(199)	$	122	$	(5,588)
Other comprehensive income (loss) before reclassifications
Translation adjustment	$	596	$	—	$	—	$	596
Unrealized losses	—		(159)		—		(159)

Amounts reclassified from accumulated other comprehensive income (loss)	—		(19)		—		(19)
Tax effect	—		37		—		37
Net of tax amount	596		(141)		—		455
Balance at July 1, 2023	$	(4,915)	$	(340)	$	122	$	(5,133)

There were no changes in defined benefit pension plans for either the three and six months ended June 29, 2024 or July 1, 2023. Changes in defined benefit pension plans are included in net periodic pension expense classified in the condensed consolidated statement of operations as general and administrative expense or other income (expense).