Other Comprehensive Earnings (Loss) (Tables)

12 Months Ended

Dec. 27, 2020

Schedule of Tax Effect in Statement of Comprehensive Income

The following table presents the related tax effects on changes in other comprehensive earnings (loss) for each of the three fiscal years ended December 27, 2020.


	2020		2019		2018
Other comprehensive earnings (loss), tax effect:
Tax (expense) benefit on unrealized holding (losses) gains	$	(185)	$	(150)	581
Tax (expense) benefit on cash flow hedging activities	(3,433)		223		(930)
Tax benefit on foreign currency translation amounts	2,059		—		—
Tax benefit (expense) on changes in unrecognized pension amounts	2,559		(3,518)		6,085
Reclassifications to earnings, tax effect:
Tax expense on cash flow hedging activities	4,332		2,269		817
Tax benefit on amortization of unrecognized pension and postretirement amounts reclassified to the consolidated statements of operations	(780)		(2,005)		(2,729)
Tax benefit on settlement of U.S. defined benefit plan	—		(24,966)		—
Total tax effect on other comprehensive earnings (loss)	$	4,552	(28,147)		3,824

Schedule of Accumulated Other Comprehensive Income (Loss)

Changes in the components of accumulated other comprehensive earnings (loss), net of tax for each of the three fiscal years ended December 27, 2020 are as follows:


	Pension and Postretirement Amounts		Gains (Losses) on Derivative Instruments	Unrealized Holding Gains (Losses) on Available for-Sale Securities	Foreign Currency Translation Adjustments	Total Accumulated Other Comprehensive Earnings (Loss)
2020
Balance at December 29, 2019	$	(36,129)	(5,232)	(230)	(142,629)	(184,220)
Current period other comprehensive earnings (loss)	(6,609)		2,380	640	10,087	6,498
Reclassifications from AOCE to earnings	2,021		(19,252)	—	—	(17,231)
Balance at December 27, 2020	$	(40,717)	(22,104)	410	(132,542)	(194,953)
2019
Balance at December 30, 2018	$	(143,134)	1,549	(744)	(152,185)	(294,514)

Current period other comprehensive earnings (loss)	14,850		11,678	514	9,556	36,598
Reclassifications from AOCE to earnings	92,155		(18,459)	—	—	73,696
Balance at December 29, 2019	$	(36,129)	(5,232)	(230)	(142,629)	(184,220)
2018
Balance at December 31, 2017	$	(110,971)	(32,827)	1,034	(96,661)	(239,425)
Adoption of ASU 2018-02	(18,065)		(3,660)	222	—	(21,503)
Current period other comprehensive earnings (loss)	(23,763)		36,107	(2,000)	(55,524)	(45,180)
Reclassifications from AOCE to earnings	9,665		1,929	—	—	11,594
Balance at December 30, 2018	$	(143,134)	1,549	(744)	(152,185)	(294,514)