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Comprehensive Income/(Loss) (Tables)
 6 Months Ended
Oct. 27, 2013
Equity [Abstract]  
Summary of comprehensive income
The following tables summarize the allocation of total comprehensive income/(loss) between H. J. Heinz Company and the noncontrolling interest for the second quarter and six months ended October 27, 2013 and October 28, 2012, respectively:
 
Second Quarter Ended
 
Successor
Predecessor
 
October 27, 2013
FY 2014
 
October 28, 2012
FY 2013
 
H. J. Heinz
Company
 
Noncontrolling
Interest
 
Total
 
H. J. Heinz
Company
 
Noncontrolling
Interest
 
Total
 
(In thousands)
Net (loss)/income
$
34,041

 
$
2,071

 
$
36,112

 
$
289,444

 
$
2,144

 
$
291,588

Other comprehensive income/(loss), net of tax:
 
 
 
 
 
 
 
 
 
 
 
Foreign currency translation adjustments
389,606

 
(1,210
)
 
388,396

 
146,681

 
(1,702
)
 
144,979

Net deferred (losses) on net investment hedges from periodic revaluations
(101,938
)
 
—

 
(101,938
)
 
—

 
—

 
—

Net pension and post-retirement benefit (losses)/gains
14,213

 
—

 
14,213

 
—

 
—

 
—

Reclassification of net pension and post-retirement benefit losses/(gains) to net income
—

 
—

 
—

 
13,438

 
12

 
13,450

Net deferred (losses)/gains on other derivatives from periodic revaluations
(59,799
)
 
(279
)
 
(60,078
)
 
704

 
1

 
705

Net deferred losses/(gains) on derivatives reclassified to earnings
(951
)
 
(9
)
 
(960
)
 
4,927

 
(37
)
 
4,890

Total comprehensive income/(loss)
275,172

 
573

 
275,745

 
455,194

 
418

 
455,612



Successor
Predecessor

February 8 - October 27, 2013
FY 2014
April 29 - June 7, 2013
FY 2014

Six Months Ended
October 28, 2012
FY 2013

H. J. Heinz
Company

Noncontrolling
Interest

Total
H. J. Heinz
Company

Noncontrolling
Interest

Total

H. J. Heinz
Company

Noncontrolling
Interest

Total
 
(In thousands)
Net (loss)/income
$
(41,835
)

$
3,346


$
(38,489
)
$
(195,571
)

$
2,874


$
(192,697
)

$
547,471


$
8,795


$
556,266

Other comprehensive income/(loss), net of tax:

















 


 


 

Foreign currency translation adjustments
227,608


(7,576
)

220,032

(93,780
)

(4,083
)

(97,863
)

(148,694
)

(14,733
)

(163,427
)
Net deferred (losses) on net investment hedges from periodic revaluations
(101,938
)
 
—

 
(101,938
)
—

 
—

 
—

 
—

 
—

 
—

Net pension and post-retirement benefit (losses)/gains
14,213

 
—

 
14,213

—

 
—

 
—

 
—

 
—

 
—

Reclassification of net pension and post-retirement benefit losses/(gains) to net income
—


—


—

7,291


(25
)

7,266


27,092


59


27,151

Net deferred (losses)/gains on other derivatives from periodic revaluations
27,343


(211
)

27,132

(1,099
)

40


(1,059
)

6,884


33


6,917

Net deferred losses/(gains) on derivatives reclassified to earnings
(1,058
)

(9
)

(1,067
)
6,551


1


6,552


(4,175
)

(40
)

(4,215
)
Total comprehensive income/(loss)
$
124,333


$
(4,450
)

$
119,883

$
(276,608
)

$
(1,193
)

$
(277,801
)

$
428,578


$
(5,886
)

$
422,692
Tax Expenses Benefits Associated With Components Of Other Comprehensive Income
The tax (expense)/benefit associated with each component of other comprehensive income/(loss) are as follows:
 
Second Quarter Ended
 
H. J. Heinz
Company
 
Noncontrolling
Interest
 
Total
 
(In thousands)
Predecessor
 
 
 
 
 
October 28, 2012
FY 2013
 

 
 

 
 

Foreign currency translation adjustments
$
(164
)
 
$
—

 
$
(164
)
Reclassification of net pension and post-retirement benefit losses to net income
$
5,675

 
$
—

 
$
5,675

Net change in fair value of cash flow hedges
$
320

 
$
(1
)
 
$
319

Net hedging gains/losses reclassified into earnings
$
2,560

 
$
(13
)
 
$
2,547

Successor
 
 
 
 
 
October 27, 2013
FY 2014
 
 
 
 
 
Foreign currency translation adjustments
$
153

 
$
—

 
$
153

Net change in fair value of net investment hedges
$
64,491

 
$
—

 
$
64,491

Net pension and post-retirement benefit (losses)/gains
$
(3,480
)
 
$
—

 
$
(3,480
)
Net change in fair value of cash flow hedges
$
31,762

 
$
93

 
$
31,855

Net hedging gains/losses reclassified into earnings
$
365

 
$
(3
)
 
$
362



Six Months Ended

H. J. Heinz
Company

Noncontrolling
Interest

Total
 
(In thousands)
Predecessor








October 28, 2012
FY 2013
 


 


 

Foreign currency translation adjustments
$
(3
)

$
—


$
(3
)
Reclassification of net pension and post-retirement benefit losses to net income
$
11,481


$
—


$
11,481

Net change in fair value of cash flow hedges
$
(3,756
)

$
(12
)

$
(3,768
)
Net hedging gains/losses reclassified into earnings
$
(3,216
)

$
(14
)

$
(3,230
)
April 29 - June 7, 2013








Foreign currency translation adjustments
$
(116
)

$
—


$
(116
)
Reclassification of net pension and post-retirement benefit losses/(gains) to net income
$
2,958


$
—


$
2,958

Net change in fair value of cash flow hedges
$
377


$
(13
)

$
364

Net hedging gains/losses reclassified into earnings
$
2,822


$
1


$
2,823

Successor








February 8 - October 27, 2013
 


 


 

Foreign currency translation adjustments
$
106


$
—


$
106

Net change in fair value of net investment hedges
$
64,491

 
$
—

 
$
64,491

Net pension and post-retirement benefit (losses)/gains
$
(3,480
)
 
$
—

 
$
(3,480
)
Net change in fair value of cash flow hedges
$
(11,924
)

$
74


$
(11,850
)
Net hedging gains/losses reclassified into earnings
$
3


$
(3
)

$
—
Schedule of Accumulated Other Comprehensive Income (Loss)
The following table provides a summary of the changes in the carrying amount of accumulated other comprehensive (loss)/income, net of tax, by component attributable to H.J. Heinz Company:



Foreign currency translation adjustments

Net pension and post retirement benefit

Net cash flow hedges

Total

(In thousands)
Predecessor







Balance as of April 28, 2013
$
(236,412
)

$
(962,653
)

$
24,527


(1,174,538
)
Other comprehensive (loss)/income before reclassifications
(93,780
)

—


(1,099
)

(94,879
)
Amounts reclassified from accumulated other comprehensive loss
—


7,291


6,551


13,842

Net current-period other comprehensive loss
(93,780
)

7,291


5,452


(81,037
)
Balance as of June 7, 2013
$
(330,192
)

$
(955,362
)

$
29,979


$
(1,255,575
)








Successor







Balance as of February 8, 2013
$
—


$
—


$
—


—

Other comprehensive (loss)/income before reclassifications
227,608


14,213


27,343


269,164

Net change in fair value of net investment hedges
(101,938
)
 
—

 
—

 
(101,938
)
Amounts reclassified from accumulated other comprehensive loss
—


—


(1,058
)

(1,058
)
Net current-period other comprehensive loss
125,670


14,213


26,285


166,168

Balance as of October 27, 2013
$
125,670


$
14,213


$
26,285


$
166,168
Schedule of Amounts Recognized in Other Comprehensive Income (Loss)
The following table presents the affected earnings line for reclassifications out of accumulated other comprehensive income/(loss), net of tax, by component attributable to H.J. Heinz Company for the second quarter and six months ended October 27, 2013:
 
Accumulated other comprehensive income/(loss) component

 Reclassified from accumulated other comprehensive income/(loss) to earnings

 Reclassified from accumulated other comprehensive income/(loss) to earnings

Line affected by reclassification
(In thousands)


Successor

Predecessor


 
 
Three months ended October 27, 2013
FY 2014
February 8 - October 27, 2013
FY 2014
 
April 29 - June 7, 2013
FY 2014
 
 
Gains/(losses) on cash flow hedges:

 





     Foreign exchange contracts

$
(558
)
$
(325
)

$
990


Sales
     Foreign exchange contracts

1,190

1,427


1,814


Cost of products sold
     Foreign exchange contracts

—

—


(1,859
)

Other income
     Foreign exchange contracts
 
(46
)
(46
)
 
—

 
Selling, general, and administrative expenses
     Foreign exchange contracts

—

—


61


Interest expense
     Interest rate contracts

—

—


(20
)

Interest expense
     Cross-currency interest rate swap contracts

—

—


(538
)

Other expense
     Cross-currency interest rate swap contracts

—

—


(9,821
)

Interest expense


586

1,056


(9,373
)

Gain/(loss) from continuing operations before income tax


365

2


2,822


Provision for income taxes


$
951

$
1,058


$
(6,551
)

Gain/(loss) from continuing operations


 





Gains/(losses) on pension and post retirement benefit:




     Actuarial gains/(losses)

$
—

$
—


$
(10,681
)

(a)
     Prior service credit/(cost)

—

—


432


(a)


—

—


(10,249
)

Loss from continuing operations before income tax


—

—


2,958


Provision for income taxes


$
—

$
—


$
(7,291
)

Loss from continuing operations
______________________________________
(a) As these components are included in the computation of net periodic pension and post retirement benefit costs refer to Note 9 for further details.