Accumulated Other Comprehensive Income (Loss) (Tables)

3 Months Ended

Apr. 02, 2022

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 April 2, 2022 and April 3, 2021 (in thousands):

	Three-Month (13-Week) Period Ended
	April 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		53,476			22,692			-		76,168
Amounts reclassified from accumulated other comprehensive income (loss) into earnings ⁽¹⁾		(5,390	)		-			-		(5,390	)
Net current-period other comprehensive income (loss)		48,086			22,692			-		70,778
Accumulated other comprehensive income (loss) at April 2, 2022	$	49,198		$	(102,176	)	$	8,474	$	(44,504	)

	Three-Month (13-Week) Period Ended
	April 3, 2021
	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, 2020	$	(4,700	)	$	(120,827	)	$	6,666	$	(118,861	)
Other comprehensive income (loss) before reclassifications		999			13,801			-		14,800
Amounts reclassified from accumulated other comprehensive income (loss) into earnings ⁽¹⁾		501			-			-		501
Net current-period other comprehensive income (loss)		1,500			13,801			-		15,301
Accumulated other comprehensive income (loss) at April 3, 2021	$	(3,200	)	$	(107,026	)	$	6,666	$	(103,560	)

(1) Includes $(5,390) and $501 net-of-tax impact of accumulated other comprehensive income (loss) reclassifications into cost of products sold for net (gains) losses on commodity contracts in the first quarter of 2022 and 2021, respectively. The tax impact of those reclassifications was $(1,700) and $100 in the first quarter of 2022 and 2021, respectively.