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Accumulated Other Comprehensive Loss (Tables)
9 Months Ended
Sep. 24, 2017
Equity [Abstract]  
Schedule of Accumulated Other Comprehensive Loss
The following tables set forth the changes in accumulated other comprehensive loss (AOCL) (in thousands):
 
 
Three months ended September 24, 2017
 
 
Foreign currency translation adjustments
 
Marketable securities
 
Derivative financial instruments
 
Pension and postretirement benefit plans
 
Total
Balance, beginning of period
 
$
(42,938
)
 
$

 
$
(6,940
)
 
$
(494,067
)
 
$
(543,945
)
Other comprehensive income (loss) before reclassifications
 
26,754

 

 
(35,692
)
 

 
(8,938
)
Income tax (benefit) expense
 
(1,741
)
 

 
13,220

 

 
11,479

Net other comprehensive income (loss) before reclassifications
 
25,013

 

 
(22,472
)
 

 
2,541

Reclassifications:
 
 
 
 
 
 
 
 
 
 
Realized (gains) losses - foreign currency contracts(a)
 

 

 
7,901

 

 
7,901

Realized (gains) losses - commodities contracts(a)
 

 

 
16

 

 
16

Realized (gains) losses - treasury rate locks(b)
 

 

 
126

 

 
126

Prior service credits(c)
 

 

 

 
(287
)
 
(287
)
Actuarial losses(c)
 

 

 

 
11,813

 
11,813

Total reclassifications before tax
 

 

 
8,043

 
11,526

 
19,569

Income tax benefit
 

 

 
(2,978
)
 
(4,269
)
 
(7,247
)
Net reclassifications
 

 

 
5,065

 
7,257

 
12,322

Other comprehensive income (loss)
 
25,013

 

 
(17,407
)
 
7,257

 
14,863

Balance, end of period
 
$
(17,925
)
 
$

 
$
(24,347
)
 
$
(486,810
)
 
$
(529,082
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three months ended September 25, 2016
 
 
Foreign currency translation adjustments
 
Marketable securities
 
Derivative financial instruments
 
Pension and postretirement benefit plans
 
Total
Balance, beginning of period
 
$
(43,523
)
 
$
(1,171
)
 
$
543

 
$
(546,010
)
 
$
(590,161
)
Other comprehensive income (loss) before reclassifications
 
3,574

 
(18
)
 
(895
)
 

 
2,661

Income tax expense
 
279

 
7

 
332

 

 
618

Net other comprehensive income (loss) before reclassifications
 
3,853

 
(11
)
 
(563
)
 

 
3,279

Reclassifications:
 
 
 
 
 
 
 
 
 
 
Realized (gains) losses - foreign currency contracts(a)
 

 

 
(2,399
)
 

 
(2,399
)
Realized (gains) losses - commodities contracts(a)
 

 

 
(21
)
 

 
(21
)
Realized (gains) losses - treasury rate locks(b)
 

 

 
90

 

 
90

Prior service credits(c)
 

 

 

 
(446
)
 
(446
)
Actuarial losses(c)
 

 

 

 
12,472

 
12,472

Total reclassifications before tax
 

 

 
(2,330
)
 
12,026

 
9,696

Income tax expense (benefit)
 

 

 
862

 
(4,454
)
 
(3,592
)
Net reclassifications
 

 

 
(1,468
)
 
7,572

 
6,104

Other comprehensive income (loss)
 
3,853

 
(11
)
 
(2,031
)
 
7,572

 
9,383

Balance, end of period
 
$
(39,670
)
 
$
(1,182
)
 
$
(1,488
)
 
$
(538,438
)
 
$
(580,778
)
 
 
Nine months ended September 24, 2017
 
 
Foreign currency translation adjustments
 
Marketable securities
 
Derivative financial instruments
 
Pension and postretirement benefit plans
 
Total
Balance, beginning of period
 
$
(68,132
)
 
$
(1,194
)
 
$
12,524

 
$
(508,579
)
 
$
(565,381
)
Other comprehensive income (loss) before reclassifications
 
51,834

 
1,896

 
(60,245
)
 

 
(6,515
)
Income tax (benefit) expense
 
(1,627
)
 
(702
)
 
22,307

 

 
19,978

Net other comprehensive income (loss) before reclassifications
 
50,207

 
1,194

 
(37,938
)
 

 
13,463

Reclassifications:
 
 
 
 
 
 
 
 
 
 
Realized (gains) losses - foreign currency contracts(a)
 

 

 
1,428

 

 
1,428

Realized (gains) losses - commodities contracts(a)
 

 

 
(49
)
 

 
(49
)
Realized (gains) losses - treasury rate locks(b)
 

 

 
315

 

 
315

Prior service credits(c)
 

 

 

 
(865
)
 
(865
)
Actuarial losses(c)
 

 

 

 
35,439

 
35,439

Total reclassifications before tax
 

 

 
1,694

 
34,574

 
36,268

Income tax benefit
 

 

 
(627
)
 
(12,805
)
 
(13,432
)
Net reclassifications
 

 

 
1,067

 
21,769

 
22,836

Other comprehensive income (loss)
 
50,207

 
1,194

 
(36,871
)
 
21,769

 
36,299

Balance, end of period
 
$
(17,925
)
 
$

 
$
(24,347
)
 
$
(486,810
)
 
$
(529,082
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Nine months ended September 25, 2016
 
 
Foreign currency translation adjustments
 
Marketable securities
 
Derivative financial instruments
 
Pension and postretirement benefit plans
 
Total
Balance, beginning of period
 
$
(58,844
)
 
$
(1,094
)
 
$
5,886

 
$
(561,153
)
 
$
(615,205
)
Other comprehensive income (loss) before reclassifications
 
20,661

 
(140
)
 
(5,475
)
 

 
15,046

Income tax (benefit) expense
 
(1,487
)
 
52

 
2,028

 

 
593

Net other comprehensive income (loss) before reclassifications
 
19,174

 
(88
)
 
(3,447
)
 

 
15,639

Reclassifications:
 
 
 
 
 
 
 
 
 
 
Realized (gains) losses - foreign currency contracts(a)
 

 

 
(6,806
)
 

 
(6,806
)
Realized (gains) losses - commodities contracts(a)
 

 

 
298

 

 
298

Realized (gains) losses - treasury rate locks(b)
 

 

 
271

 

 
271

Prior service credits(c)
 

 

 

 
(1,338
)
 
(1,338
)
Actuarial losses(c)
 

 

 

 
37,416

 
37,416

Total reclassifications before tax
 

 

 
(6,237
)
 
36,078

 
29,841

Income tax expense (benefit)
 

 

 
2,310

 
(13,363
)
 
(11,053
)
Net reclassifications
 

 

 
(3,927
)
 
22,715

 
18,788

Other comprehensive income (loss)
 
19,174

 
(88
)
 
(7,374
)
 
22,715

 
34,427

Balance, end of period
 
$
(39,670
)
 
$
(1,182
)
 
$
(1,488
)
 
$
(538,438
)
 
$
(580,778
)

(a)
Amounts reclassified to net income are included in Motorcycles and Related Products cost of goods sold.
(b)
Amounts reclassified to net income are included in interest expense.
(c)
Amounts reclassified are included in the computation of net periodic benefit cost. See Note 14 for information related to pension and postretirement benefit plans.