Accumulated Other Comprehensive Income (Loss) (Tables)

6 Months Ended

Jul. 01, 2023

Equity [Abstract]

Components of Accumulated Other Comprehensive Income (Loss)

The following tables reflect the changes in accumulated other comprehensive income (loss) by component for the three months and six months ended July 1, 2023 and July 2, 2022 (in thousands):

	Three-Month (13-Week) Period Ended
	July 1, 2023
	Gains and (Losses) on			Foreign Currency			Adjustment to Early
	Hedging Derivatives			Gains (Losses)			Retiree Medical Plan		Total
Accumulated other comprehensive   income (loss) at April 1, 2023	$	1,700		$	(183,657	)	$	16,599	$	(165,358	)
Other comprehensive income    (loss) before    reclassifications		(4,428	)		34,586			-		30,158
Amounts reclassified from    accumulated other    comprehensive income (loss)    into earnings (1)		6,228		-				-		6,228
Net current-period other    comprehensive income (loss)		1,800			34,586			-		36,386
Accumulated other comprehensive    income (loss) at July 1, 2023	$	3,500		$	(149,071	)	$	16,599	$	(128,972	)

	Six-Month (26-Week) Period Ended
	July 1, 2023
	Gains and (Losses) on			Foreign Currency			Adjustment to Early
	Hedging Derivatives			Gains (Losses)			Retiree Medical Plan		Total
Accumulated other comprehensive    income (loss) at    December 31, 2022	$	26,100		$	(180,216	)	$	16,599	$	(137,517	)
Other comprehensive income    (loss) before reclassifications		(29,003	)		31,145			-		2,142
Amounts reclassified from    accumulated other    comprehensive income (loss)    into earnings (1)		6,403			-			-		6,403
Net current-period other    comprehensive income (loss)		(22,600	)		31,145			-		8,545
Accumulated other comprehensive    income (loss) at July 1, 2023	$	3,500		$	(149,071	)	$	16,599	$	(128,972	)

(1)Includes $6,228 and $6,403 net-of-tax impact of accumulated other comprehensive income (loss) reclassifications into cost of products sold for net gains on commodity contracts in the second quarter and first six months of 2023, respectively. The tax impact of those reclassifications was $1,900 and $2,000 in the second quarter and first six months of 2023, respectively.

	Three-Month (13-Week) Period Ended
	July 2, 2022
	Gains and (Losses) on			Foreign Currency			Adjustment to Early
	Hedging Derivatives			Gains (Losses)			Retiree Medical Plan		Total
Accumulated other comprehensive    income (loss) at April 2, 2022	$	49,198		$	(102,176	)	$	8,474	$	(44,504	)
Other comprehensive income (loss)    before reclassifications		16,138			(27,308	)		-		(11,170	)
Amounts reclassified from    accumulated other    comprehensive income (loss)    into earnings (2)		(15,136	)		-			-		(15,136	)
Net current-period other    comprehensive income (loss)		1,002			(27,308	)		-		(26,306	)
Accumulated other comprehensive    income (loss) at July 2, 2022	$	50,200		$	(129,484	)	$	8,474	$	(70,810	)

	Six-Month (26-Week) Period Ended
	July 2, 2022
	Gains and (Losses) on			Foreign Currency			Adjustment to Early
	Hedging Derivatives			Gains (Losses)			Retiree Medical Plan		Total
Accumulated other comprehensive    income (loss) at    December 31, 2021	$	1,112		$	(124,868	)	$	8,474	$	(115,282	)
Other comprehensive income (loss)    before reclassifications		69,614			(4,616	)		-		64,998
Amounts reclassified from    accumulated other    comprehensive income (loss)    into earnings (2)		(20,526	)		-			-		(20,526	)
Net current-period other    comprehensive income (loss)		49,088			(4,616	)		-		44,472
Accumulated other comprehensive    income (loss) at July 2, 2022	$	50,200		$	(129,484	)	$	8,474	$	(70,810	)

Includes $(15,136) and $(20,526) net-of-tax impact of accumulated other comprehensive income (loss) reclassifications into cost of products sold for net gains on commodity contracts in the second quarter and first six months of 2022, respectively. The tax impact of those reclassifications was $(4,800) and $(6,500) in the second quarter and first six months of 2022, respectively.