Accumulated Other Comprehensive Income (Loss)

3 Months Ended

Mar. 29, 2020

Accumulated Other Comprehensive Income (Loss)

Accumulated Other Comprehensive Income (Loss)Accumulated other comprehensive income (loss) (“AOCI(L)”) is comprised of adjustments relative to the Company’s pension and postretirement medical benefit plans and foreign currency translation adjustments required for a subsidiary of the Company that performs data analysis and provides consulting services outside the United States.

A summary of AOCI(L) for the first quarter of 2020 and the first quarter of 2019 is as follows:


(in thousands)	December 29, 2019		Pre-tax Activity		Tax Effect		March 29, 2020
Net pension activity:
Actuarial loss	$	(93,174)	$	1,189	$	(293)	$	(92,278)
Prior service costs	(7)		5		(1)		(3)
Net postretirement benefits activity:
Actuarial loss	(1,191)		88		(22)		(1,125)
Prior service costs	(624)		—		—		(624)
Interest rate swap	(270)		(1,347)		332		(1,285)
Foreign currency translation adjustment	(16)		(1)		—		(17)
Reclassification of stranded tax effects	(19,720)		—		—		(19,720)
Total AOCI(L)	$	(115,002)	$	(66)	$	16	$	(115,052)


(in thousands)	December 30, 2018		Pre-tax Activity		Tax Effect		March 31, 2019
Net pension activity:
Actuarial loss	$	(72,690)	$	901	$	(222)	$	(72,011)
Prior service costs	(24)		5		(1)		(20)
Net postretirement benefits activity:
Actuarial loss	(4,902)		196		(48)		(4,754)
Prior service costs	351		(324)		80		107
Foreign currency translation adjustment	—		(10)		1		(9)
Reclassification of stranded tax effects	—		—		(19,720)		(19,720)
Total AOCI(L)	$	(77,265)	$	768	$	(19,910)	$	(96,407)

A summary of the impact of AOCI(L) on certain statements of operations line items is as follows:


	First Quarter 2020
(in thousands)	Net Pension Activity		Net Postretirement Benefits Activity		Interest Rate Swap		Foreign Currency Translation Adjustment		Total
Cost of sales	$	334	$	48	$	—	$	—	$	382
Selling, delivery and administrative expenses	860		40		(1,347)		(1)		(448)
Subtotal pre-tax	1,194		88		(1,347)		(1)		(66)
Income tax expense (benefit)	294		22		(332)		—		(16)
Total after tax effect	$	900	$	66	$	(1,015)	$	(1)	$	(50)


	First Quarter 2019
(in thousands)	Net Pension Activity		Net Postretirement Benefits Activity		Foreign Currency Translation Adjustment		Total
Cost of sales	$	263	$	(67)	$	—	$	196
Selling, delivery and administrative expenses	643		(61)		(10)		572
Subtotal pre-tax	906		(128)		(10)		768
Income tax expense (benefit)	223		(32)		(1)		190
Total after tax effect	$	683	$	(96)	$	(9)	$	578