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Other Comprehensive Income
6 Months Ended
Jun. 30, 2018
Notes To Financial Statements [Abstract]  
Other Comprehensive Income
) Other Comprehensive Income
The company reports changes in equity during a period, except those resulting from investments by owners and distributions to owners, in accordance with ASC 220, "Comprehensive Income".
Changes in accumulated other comprehensive income(1) were as follows (in thousands):
 
Currency Translation Adjustment
 
Pension Benefit Costs
 
Unrealized Gain/(Loss) Interest Rate Swap
 
Total
Balance as of December 30, 2017
$
(69,721
)
 
$
(203,063
)
 
$
6,365

 
$
(266,419
)
Adoption of ASU 2018-02 (2)

 
487

 
(1,619
)
 
(1,132
)
Other comprehensive income before reclassification
(20,161
)
 
4,393

 
10,971

 
(4,797
)
Amounts reclassified from accumulated other comprehensive income

 

 
248

 
248

Net current-period other comprehensive income
$
(20,161
)
 
$
4,880

 
$
9,600

 
$
(5,681
)
Balance as of June 30, 2018
$
(89,882
)
 
$
(198,183
)
 
$
15,965

 
$
(272,100
)

(1) As of June 30, 2018 pension and interest rate swap amounts are net of tax of $(42.0) million and $5.4 million, respectively. During the six months ended June 30, 2018, the adjustments to pension benefit costs and unrealized gain/(loss) interest rate swap were net of tax of $1.6 million and $1.1 million, respectively.
(2) As of December 31, 2017, the company adopted ASU 2018-02, "Income Statement-Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income". This guidance allowed for the reclassification of $1.1 million of stranded tax effects resulting from the Tax Cuts and Jobs Act of 2017 from accumulated other comprehensive income to retained earnings.
Components of other comprehensive income were as follows (in thousands):
 
Three Months Ended
 
Six Months Ended
 
Jun 30, 2018
 
Jul 1, 2017
 
Jun 30, 2018
 
Jul 1, 2017
Net earnings
$
83,988

 
$
77,569

 
$
149,408

 
$
148,271

Currency translation adjustment
(41,963
)
 
18,621

 
(20,161
)
 
29,456

Pension liability adjustment, net of tax
13,754

 
(6,647
)
 
4,880

 
(9,174
)
Unrealized gain on interest rate swaps, net of tax
3,045

 
(1,001
)
 
9,600

 
(501
)
Comprehensive income
$
58,824

 
$
88,542

 
$
143,727

 
$
168,052