Supplemental Stockholders' Equity Information

9 Months Ended

Sep. 26, 2021

Equity [Abstract]

Supplemental Stockholders' Equity Information

SUPPLEMENTAL STOCKHOLDERS’ EQUITY INFORMATION

In 2015, the Board of Directors authorized up to $101.1 million of repurchases of shares of the Company’s Class A Common Stock. As of September 26, 2021, repurchases under this authorization totaled $84.9 million (excluding commissions) and $16.2 million remained. Our Board of Directors has authorized us to purchase shares from time to time, subject to market conditions and other factors. There is no expiration date with respect to this authorization. There have been no purchases under this authorization since 2016.

The following table summarizes the changes in AOCI by component as of September 26, 2021:

(In thousands)	Foreign Currency Translation Adjustments		Funded Status of Benefit Plans		Net Unrealized Gain on Available-For-Sale Securities		Total Accumulated Other Comprehensive Loss
Balance as of December 27, 2020	$	8,386	$	(421,698)	$	3,131	$	(410,181)
Other comprehensive income before reclassifications, before tax	(3,421)		—		(2,616)		(6,037)
Amounts reclassified from accumulated other comprehensive loss, before tax	—		19,220		—		19,220
Income tax (benefit)/expense	(914)		5,146		(700)		3,532
Net current-period other comprehensive (loss)/ income, net of tax	(2,507)		14,074		(1,916)		9,651
Balance as of September 26, 2021	$	5,879	$	(407,624)	$	1,215	$	(400,530)

The following table summarizes the reclassifications from AOCI for the nine months ended September 26, 2021:

(In thousands) Detail about accumulated other comprehensive loss components	Amounts reclassified from accumulated other comprehensive loss		Affects line item in the statement where net income is presented
Funded status of benefit plans:
Amortization of prior service credit(1)	$	(3,967)	Other components of net periodic benefit costs
Amortization of actuarial loss(1)	23,187		Other components of net periodic benefit costs
Total reclassification, before tax(2)	19,220
Income tax expense	5,146		Income tax expense
Total reclassification, net of tax	$	14,074

(1) These AOCI components are included in the computation of net periodic benefit cost for pension and other postretirement benefits. See Note 9 for more information.

(2) There were no reclassifications relating to noncontrolling interest for the nine months ended September 26, 2021.