Accumulated Other Comprehensive Loss

9 Months Ended

Sep. 25, 2022

Equity [Abstract]

Accumulated Other Comprehensive Loss

Accumulated Other Comprehensive LossChanges in Accumulated other comprehensive loss were as follows (in thousands):

	Three months ended September 25, 2022
	Foreign currency translation adjustments		Derivative financial instruments		Pension and postretirement benefit plans		Total
Balance, beginning of period	$	(79,543)	$	20,775	$	(183,508)	$	(242,276)
Other comprehensive loss, before reclassifications	(47,333)		(68,167)		—		(115,500)
Income tax benefit	1,088		14,803		—		15,891
	(46,245)		(53,364)		—		(99,609)
Reclassifications:
Net loss on derivative financial instruments	—		79,852		—		79,852
Prior service credits(a)	—		—		(909)		(909)
Actuarial losses(a)	—		—		8,100		8,100
Reclassifications before tax	—		79,852		7,191		87,043
Income tax expense	—		(17,457)		(1,688)		(19,145)
	—		62,395		5,503		67,898
Other comprehensive (loss) income	(46,245)		9,031		5,503		(31,711)
Balance, end of period	$	(125,788)	$	29,806	$	(178,005)	$	(273,987)

	Three months ended September 26, 2021
	Foreign currency translation adjustments		Derivative financial instruments		Pension and postretirement benefit plans		Total
Balance, beginning of period	$	(23,512)	$	(29,088)	$	(402,537)	$	(455,137)
Other comprehensive loss, before reclassifications	(18,296)		(31,698)		—		(49,994)
Income tax benefit	460		6,928		—		7,388
	(17,836)		(24,770)		—		(42,606)
Reclassifications:
Net loss on derivative financial instruments	—		37,166		—		37,166
Prior service credits(a)	—		—		(893)		(893)
Actuarial losses(a)	—		—		18,650		18,650
Reclassifications before tax	—		37,166		17,757		54,923
Income tax expense	—		(8,126)		(4,169)		(12,295)
	—		29,040		13,588		42,628
Other comprehensive (loss) income	(17,836)		4,270		13,588		22
Balance, end of period	$	(41,348)	$	(24,818)	$	(388,949)	$	(455,115)

	Nine months ended September 25, 2022
	Foreign currency translation adjustments		Derivative financial instruments		Pension and postretirement benefit plans		Total
Balance, beginning of period	$	(44,401)	$	(2,005)	$	(194,513)	$	(240,919)
Other comprehensive loss, before reclassifications	(82,737)		(129,306)		—		(212,043)
Income tax benefit	1,350		28,025		—		29,375
	(81,387)		(101,281)		—		(182,668)
Reclassifications:
Net loss on derivative financial instruments	—		170,601		—		170,601
Prior service credits(a)	—		—		(2,727)		(2,727)
Actuarial losses(a)	—		—		24,300		24,300
Reclassifications before tax	—		170,601		21,573		192,174
Income tax expense	—		(37,509)		(5,065)		(42,574)
	—		133,092		16,508		149,600
Other comprehensive (loss) income	(81,387)		31,811		16,508		(33,068)
Balance, end of period	$	(125,788)	$	29,806	$	(178,005)	$	(273,987)

	Nine months ended September 26, 2021
	Foreign currency translation adjustments		Derivative financial instruments		Pension and postretirement benefit plans		Total
Balance, beginning of period	$	(7,589)	$	(46,116)	$	(429,712)	$	(483,417)
Other comprehensive loss, before reclassifications	(33,648)		(68,861)		—		(102,509)
Income tax (expense) benefit	(111)		15,026		—		14,915
	(33,759)		(53,835)		—		(87,594)
Reclassifications:
Net loss on derivative financial instruments	—		96,854		—		96,854
Prior service credits(a)	—		—		(2,679)		(2,679)
Actuarial losses(a)	—		—		55,950		55,950
Reclassifications before tax	—		96,854		53,271		150,125
Income tax expense	—		(21,721)		(12,508)		(34,229)
	—		75,133		40,763		115,896
Other comprehensive (loss) income	(33,759)		21,298		40,763		28,302
Balance, end of period	$	(41,348)	$	(24,818)	$	(388,949)	$	(455,115)

(a)Amounts reclassified are included in the computation of net periodic benefit (income) cost, discussed further in Note 15