Accumulated Other Comprehensive Income (Loss)

3 Months Ended

Apr. 02, 2021

Equity [Abstract]

Accumulated Other Comprehensive Income (Loss)

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

Following is a summary of AOCI(L) for the first quarter of 2021 and the first quarter of 2020:

(in thousands)	December 31, 2020		Pre-tax Activity		Tax Effect		April 2, 2021
Net pension activity:
Actuarial loss	$	(93,847)	$	1,219	$	(303)	$	(92,931)
Prior service credits	8		1		—		9
Net postretirement benefits activity:
Actuarial loss	(4,328)		186		(46)		(4,188)
Prior service costs	(624)		—		—		(624)
Interest rate swap	(556)		415		(103)		(244)
Foreign currency translation adjustment	14		(49)		12		(23)
Reclassification of stranded tax effects	(19,720)		—		—		(19,720)
Total AOCI(L)	$	(119,053)	$	1,772	$	(440)	$	(117,721)

(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)

Following is a summary of the impact of AOCI(L) on the condensed consolidated statements of operations:

	First Quarter 2021
(in thousands)	Net Pension Activity		Net Postretirement Benefits Activity		Interest Rate Swap		Foreign Currency Translation Adjustment		Total
Cost of sales	$	348	$	103	$	—	$	—	$	451
Selling, delivery and administrative expenses	872		83		415		(49)		1,321
Subtotal pre-tax	1,220		186		415		(49)		1,772
Income tax expense (benefit)	303		46		103		(12)		440
Total after tax effect	$	917	$	140	$	312	$	(37)	$	1,332

	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)