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Shareholders' Equity
 12 Months Ended
Dec. 27, 2019
Stockholders' Equity Note [Abstract]  
Shareholders' Equity Shareholders’ Equity

At December 27, 2019, the Company had 22,549 authorized, but not issued, cumulative preferred shares, $100 par value. The Company also has authorized, but not issued, a separate class of 3 million shares of preferred stock, $1 par value.
Changes in components of accumulated other comprehensive income (loss), net of tax were (in thousands):
 
Pension and
Postretirement
Medical
 
Cumulative
Translation
Adjustment
 
Total
Balance, December 30, 2016
$
(76,426
)
 
$
(65,802
)
 
$
(142,228
)
Other comprehensive income (loss) before reclassifications
(14,791
)
 
16,443

 
1,652

Amounts reclassified from accumulated other comprehensive income
12,787

 
—

 
12,787

Balance, December 29, 2017
(78,430
)
 
(49,359
)
 
(127,789
)
Other comprehensive income (loss) before reclassifications
(196
)
 
(8,609
)
 
(8,805
)
Amounts reclassified from accumulated other comprehensive income
7,190

 
—

 
7,190

Reclassified to retained earnings
(15,453
)
 
—

 
(15,453
)
Balance, December 28, 2018
(86,889
)
 
(57,968
)
 
(144,857
)
Other comprehensive income (loss) before reclassifications
(33,938
)
 
1,902

 
(32,036
)
Amounts reclassified from accumulated other comprehensive income
7,106

 
—

 
7,106

Balance, December 27, 2019
$
(113,721
)
 
$
(56,066
)
 
$
(169,787
)


Amounts related to pension and postretirement medical adjustments are reclassified to non-service components of pension cost that are included within other non-operating expenses. Included in the 2017 reclassification is $12 million related to a pension settlement loss (Note J).

In February 2018, FASB issued a new standard related to reclassification of certain tax effects from accumulated other comprehensive income (AOCI). The Company adopted the new standard in the first quarter of 2018. We elected to reclassify $15.5 million from accumulated other comprehensive income to retained earnings, representing the amount of “stranded” tax effects resulting from the change in the U.S. federal tax rate and the consequent revaluation of deferred tax assets related to pension and postretirement medical expense.

On April 30, 2018, the Company repurchased 0.7 million shares of its common stock for $28.2 million from the President and Chief Executive Officer of the Company. The $43.33 per share purchase price represented a discount of 3 percent from the closing price of the Company’s stock immediately prior to the date of the transaction. The Company used available cash balances and borrowings under its revolving line of credit to fund the repurchase.