Accumulated Other Comprehensive Income (Loss)

9 Months Ended

Oct. 03, 2020

Equity [Abstract]

Accumulated Other Comprehensive Income (Loss)

14. Accumulated Other Comprehensive Income (Loss)

The following tables reflect the changes in accumulated other comprehensive income (loss) by component for the three months and nine months ended October 3, 2020 and September 28, 2019 (in thousands):

	Three-Month (13-Week) Period Ended
	October 3, 2020
	Gains and Losses on			Foreign Currency			Adjustment to Early
	Hedging Derivatives			Gain (Loss)			Retiree Medical Plan		Total
Accumulated other comprehensive    income (loss) at July 4, 2020	$	(10,900	)	$	(337,743	)	$	7,807	$	(340,836	)
Other comprehensive income (loss)    before reclassifications		6,387			16,867			-		23,254
Amounts reclassified from accumulated    other comprehensive income (loss)    into earnings (1)		2,113			-			-		2,113
Net current-period other comprehensive    income (loss)		8,500			16,867			-		25,367
Accumulated other comprehensive    income (loss) at October 3, 2020	$	(2,400	)	$	(320,876	)	$	7,807	$	(315,469	)

	Nine-Month (39-Week) Period Ended
	October 3, 2020
	Gains and Losses on			Foreign Currency			Adjustment to Early
	Hedging Derivatives			Gain (Loss)			Retiree Medical Plan		Total
Accumulated other comprehensive    income (loss) at December 31, 2019	$	(14,000	)	$	(296,773	)	$	7,807	$	(302,966	)
Other comprehensive income (loss) before    reclassifications		4,888			(24,103	)		-		(19,215	)
Amounts reclassified from accumulated    other comprehensive income (loss)    into earnings (1)		6,712			-			-		6,712
Net current-period other comprehensive income    (loss)		11,600			(24,103	)		-		(12,503	)
Accumulated other comprehensive    income (loss) at October 3, 2020	$	(2,400	)	$	(320,876	)	$	7,807	$	(315,469	)

(1)   Includes $2,113 and $6,712 of accumulated other comprehensive income (loss) reclassifications into cost of products sold for net losses on commodity contracts in the third quarter and first nine months of 2020, respectively. The tax impacts of those reclassifications were $700 and $2,300 in the third quarter and first nine months of 2020, respectively.

Included in the $320.9 million foreign currency losses at October 3, 2020 are $191.5 million of losses related to our equity method investment in Duferdofin Nucor and $129.4 million of losses related primarily to our Canadian operations.

	Three-Month (13-Week) Period Ended
	September 28, 2019
	Gains and Losses on			Foreign Currency			Adjustment to Early
	Hedging Derivatives			Gain (Loss)			Retiree Medical Plan		Total
Accumulated other comprehensive    income (loss) at June 29, 2019	$	(11,100	)	$	(295,559	)	$	8,899	$	(297,760	)
Other comprehensive income (loss)    before reclassifications		(3,315	)		(14,306	)		-		(17,621	)
Amounts reclassified from accumulated    other comprehensive income (loss)    into earnings (1)		1,615			-			-		1,615
Net current-period other comprehensive    income (loss)		(1,700	)		(14,306	)		-		(16,006	)
Accumulated other comprehensive    income (loss) at September 28, 2019	$	(12,800	)	$	(309,865	)	$	8,899	$	(313,766	)

	Nine-Month (39-Week) Period Ended
	September 28, 2019
	Gains and Losses on			Foreign Currency			Adjustment to Early
	Hedging Derivatives			Gain (Loss)			Retiree Medical Plan		Total
Accumulated other comprehensive    income (loss) at December 31, 2018	$	(6,500	)	$	(304,646	)	$	7,013	$	(304,133	)
Other comprehensive income (loss) before    reclassifications		(7,801	)		(5,219	)		-		(13,020	)
Amounts reclassified from accumulated    other comprehensive income (loss)    into earnings (1)		1,501			-			-		1,501
Net current-period other comprehensive income    (loss)		(6,300	)		(5,219	)		-		(11,519	)
Other		-			-			1,886		1,886
Accumulated other comprehensive    income (loss) at September 28, 2019	$	(12,800	)	$	(309,865	)	$	8,899	$	(313,766	)

(1)   Includes $1,615 and $1,501 of accumulated other comprehensive income (loss) reclassifications into cost of products sold for net losses on commodity contracts in the third quarter and first nine months of 2019, respectively. The tax impacts of those reclassifications were $500 in both the third quarter and first nine months of 2019.