Accumulated Other Comprehensive Income (Loss)

6 Months Ended

Jul. 03, 2021

Equity [Abstract]

Accumulated Other Comprehensive Income (Loss)

13. 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 3, 2021 and July 4, 2020 (in thousands):

	Three-Month (13-Week) Period Ended
	July 3, 2021
	Gains and Losses on			Foreign Currency			Adjustment to Early
	Hedging Derivatives			Gain (Loss)			Retiree Medical Plan		Total
Accumulated other comprehensive    income (loss) at April 3, 2021	$	(3,200	)	$	(107,026	)	$	6,666	$	(103,560	)
Other comprehensive income (loss)    before reclassifications		8,204			21,431			-		29,635
Amounts reclassified from accumulated    other comprehensive income (loss)    into earnings (1)		196			-			-		196
Net current-period other comprehensive    income (loss)		8,400			21,431			-		29,831
Accumulated other comprehensive    income (loss) at July 3, 2021	$	5,200		$	(85,595	)	$	6,666	$	(73,729	)

	Six-Month (26-Week) Period Ended
	July 3, 2021
	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, 2020	$	(4,700	)	$	(120,827	)	$	6,666	$	(118,861	)
Other comprehensive income (loss)    before reclassifications		9,203			35,232			-		44,435
Amounts reclassified from accumulated    other comprehensive income (loss)    into earnings (1)		697			-			-		697
Net current-period other comprehensive    income (loss)		9,900			35,232			-		45,132
Accumulated other comprehensive    income (loss) at July 3, 2021	$	5,200		$	(85,595	)	$	6,666	$	(73,729	)

(1)   Includes $196 and $697 of accumulated other comprehensive income (loss) reclassifications into cost of products sold for net losses on commodity contracts in the second quarter and first six months of 2021, respectively. The tax impact of those reclassifications was $0 and $100 in the second quarter and first six months of 2021, respectively.

	Three-Month (13-Week) Period Ended
	July 4, 2020
	Gains and Losses on			Foreign Currency			Adjustment to Early
	Hedging Derivatives			Gain (Loss)			Retiree Medical Plan		Total
Accumulated other comprehensive    income (loss) at April 4, 2020	$	(14,200	)	$	(361,234	)	$	7,807	$	(367,627	)
Other comprehensive income (loss)    before reclassifications		757			23,491			-		24,248
Amounts reclassified from accumulated    other comprehensive income (loss)    into earnings (2)		2,543			-			-		2,543
Net current-period other comprehensive    income (loss)		3,300			23,491			-		26,791
Accumulated other comprehensive    income (loss) at July 4, 2020	$	(10,900	)	$	(337,743	)	$	7,807	$	(340,836	)

	Six-Month (26-Week) Period Ended
	July 4, 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		(1,499	)		(40,970	)		-		(42,469	)
Amounts reclassified from accumulated    other comprehensive income (loss)    into earnings (2)		4,599			-			-		4,599
Net current-period other comprehensive    income (loss)		3,100			(40,970	)		-		(37,870	)
Accumulated other comprehensive    income (loss) at July 4, 2020	$	(10,900	)	$	(337,743	)	$	7,807	$	(340,836	)

(2)   Includes $2,543 and $4,599 of accumulated other comprehensive income (loss) reclassifications into cost of products sold for net losses on commodity contracts in the second quarter and first six months of 2020, respectively. The tax impact of those reclassifications was $900 and $1,600 in the second quarter and first six months of 2020, respectively.