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Other Comprehensive Earnings (Loss)
 6 Months Ended
Jun. 29, 2014
Other Comprehensive Earnings (Loss) [Abstract]  
Other Comprehensive Earnings (Loss)
(3) Other Comprehensive Earnings (Loss)

Components of other comprehensive earnings (loss) are presented within the consolidated statements of comprehensive earnings. The following table presents the related tax effects on changes in other comprehensive earnings (loss) for the quarter and six-month periods ended June 29, 2014 and June 30, 2013.

 
 
Quarter Ended
  
Six Months Ended
 
 
 
June 29, 2014
  
June 30, 2013
  
June 29, 2014
  
June 30, 2013
 
 
 
  
  
  
 
Other comprehensive earnings (loss), tax effect:
 
  
  
  
 
Tax benefit (expense) on cash flow hedging activities
 
$
5,437
   
(1,260
)
  
14,911
   
(2,971
)
Tax expense on unrealized holding gains
  
(727
)
  
-
   
(1,999
)
  
-
 
Reclassifications to earnings, tax effect:
                
   Tax (benefit) expense on cash flow hedging activities
  
(119
)
  
286
   
(342
)
  
419
 
   Tax (benefit) expense on unrecognized pension and postretirement amounts reclassified to the consolidated statements of operations
  
(321
)
  
(712
)
  
(624
)
  
(1,424
)
 
                
Total tax effect on other comprehensive earnings
 
$
4,270
   
(1,686
)
  
11,946
   
(3,976
)



At June 29, 2014, the Company had remaining net deferred losses on hedging instruments, net of tax, of $33,629 in accumulated other comprehensive loss ("AOCE"). These instruments hedge payments related to inventory purchased in the second quarter of 2014 or forecasted to be purchased during 2014, 2015 and 2016, intercompany expenses expected to be paid or received during 2014 and 2015, cash receipts for sales made at the end of the second quarter of 2014 or forecasted to be made in the remainder of 2014 and interest payments related to long-term notes due 2021 and 2044.  These amounts will be reclassified into the consolidated statements of operations upon the sale of the related inventory or recognition of the related sales, or expenses.  Of the net deferred losses included in AOCE at June 29, 2014, the Company expects approximately $11,409 to be reclassified to the consolidated statements of operations within the next 12 months. However, the amount ultimately realized in earnings is dependent on the fair value of the hedging instruments on the settlement dates.

Changes in the components of accumulated other comprehensive loss for the six months ended June 29, 2014 and June 30, 2013 are as follows:

 
 
Pension and Postretirement Amounts
  
Gains (Losses) on Derivative Instruments
  
Unrealized Holding Gains on Available-for-Sale Securities
  
Foreign Currency Translation Adjustments
  
Total Accumulated Other Comprehensive Loss
 
2014
 
  
  
  
  
 
Balance at December 29, 2013
 
$
(64,841
)
  
(7,313
)
  
-
   
38,019
   
(34,135
)
Current period other comprehensive earnings (loss)
  
1,100
   
(26,316
)
  
3,525
   
4,042
   
(17,649
)
Balance at June 29, 2014
 
$
(63,741
)
  
(33,629
)
  
3,525
   
42,061
   
(51,784
)
 
                    
2013
                    
Balance at December 30, 2012
 
$
(120,422
)
  
(1,008
)
  
-
   
49,123
   
(72,307
)
Current period other comprehensive earnings (loss)
  
4,972
   
11,342
   
-
   
(21,873
)
  
(5,559
)
Balance at June 30, 2013
 
$
(115,450
)
  
10,334
   
-
   
27,250
   
(77,866
)