STOCKHOLDERS' EQUITY

12 Months Ended

Dec. 26, 2015

STOCKHOLDERS' EQUITY

NOTE 11. STOCKHOLDERS’ EQUITY

Preferred Stock

As of December 26, 2015 and December 27, 2014, there were 1,000,000 shares of $0.01 par value preferred stock authorized; no shares were issued and outstanding.

Treasury Stock

At December 26, 2015, there were 5,915,268 common shares held in treasury. The Company’s Senior Secured Notes and the Facility include restrictions on additional common stock repurchases, based on the Company’s liquidity and borrowing availability. There were no repurchases of common stock in 2015 or 2014.

Accumulated Other Comprehensive Income

Accumulated other comprehensive income activity, net of tax, where applicable, is provided in the following tables:

(In millions)	Foreign Currency Translation Adjustments			Change in Deferred Pension			Total
Balance at December 27, 2014	$	186		$	(79	)	$	107
Other comprehensive loss activity before reclassifications		(78	)		2			(76	)
Amounts reclassified from Accumulated other comprehensive income to Net income (a)		—			—			—
Tax impact		—			(1	)		(1	)
Net year-to-date other comprehensive income		(78	)		1			(77	)
Balance at December 26, 2015	$	108		$	(78	)	$	30

(In millions)	Foreign Currency Translation Adjustments			Change in Deferred Pension			Total
Balance at December 28, 2013	$	264		$	8		$	272
Other comprehensive loss activity before reclassifications		(79	)		(88	)		(167	)
Amounts reclassified from Accumulated other comprehensive income to Net loss (a)		1			—			1
Tax impact		—			1			1
Net year-to-date other comprehensive income		(78	)		(87	)		(165	)
Balance at December 27, 2014	$	186		$	(79	)	$	107

^(a)  Amounts in parentheses indicate an increase to earnings.

Because of valuation allowances in U.S. and several international taxing jurisdictions, items other than deferred pension amounts generally have little or no tax impact. The component balances are net of immaterial tax impacts, where applicable.