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Accumulated Other Comprehensive Income (Loss) (Tables)
 3 Months Ended
Mar. 30, 2024
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 ended March 30, 2024 and April 1, 2023 (in thousands):

 

 

 

Three-Month (13-Week) Period Ended

 

 

 

March 30, 2024

 

 

 

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, 2023

 

$

(13,900

)

 

$

(159,175

)

 

$

11,003

 

 

$

(162,072

)

Other comprehensive income (loss)
   before reclassifications

 

 

(5,241

)

 

 

(15,468

)

 

 

-

 

 

 

(20,709

)

Amounts reclassified from accumulated
   other comprehensive income (loss)
   into earnings (1)

 

 

5,341

 

 

 

-

 

 

 

-

 

 

 

5,341

 

Net current-period other
   comprehensive income (loss)

 

 

100

 

 

 

(15,468

)

 

 

-

 

 

 

(15,368

)

Accumulated other comprehensive
   income (loss) at March 30, 2024

 

$

(13,800

)

 

$

(174,643

)

 

$

11,003

 

 

$

(177,440

)

 

 

 

Three-Month (13-Week) Period Ended

 

 

 

April 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

 

 

(24,575

)

 

 

(3,441

)

 

 

-

 

 

 

(28,016

)

Amounts reclassified from accumulated
   other comprehensive income (loss)
   into earnings (1)

 

 

175

 

 

 

-

 

 

 

-

 

 

 

175

 

Net current-period other
   comprehensive income (loss)

 

 

(24,400

)

 

 

(3,441

)

 

 

-

 

 

 

(27,841

)

Accumulated other comprehensive
   income (loss) at April 1, 2023

 

$

1,700

 

 

$

(183,657

)

 

$

16,599

 

 

$

(165,358

)

 

(1)
Includes $5,341 and $175 net-of-tax impact of accumulated other comprehensive income (loss) reclassifications into cost of products sold for net losses on commodity contracts in the first quarter of 2024 and 2023, respectively. The tax impact of those reclassifications was $1,800 and $100 in the first quarter of 2024 and 2023, respectively.