Accumulated Other Comprehensive Earnings (Losses) (Notes)

6 Months Ended

Jun. 25, 2022

Accumulated Other Comprehensive Earnings (Losses) [Text Block]

Accumulated Other Comprehensive Earnings (Losses)

A reconciliation of the changes in accumulated other comprehensive earnings (losses) net of income taxes for the three months ended June 25, 2022 and June 26, 2021 is as follows:


	Investments			Postretirement Benefit		Accumulated Other Comprehensive Earnings (Losses)
		(Amounts are in thousands)
2022
Balances at March 26, 2022		$	(368,415)		(12,137)		(380,552)
Unrealized loss on debt securities		(175,084)			—		(175,084)
Net realized gain on debt securities reclassified to investment income		(82)			—		(82)
Adjustment to postretirement benefit obligation		—			339		339
Net other comprehensive (losses) earnings		(175,166)			339		(174,827)
Balances at June 25, 2022		$	(543,581)		(11,798)		(555,379)

2021
Balances at March 27, 2021		$	114,773		(21,574)		93,199
Unrealized gain on debt securities		12,977			—		12,977
Net realized gain on debt securities reclassified to investment income		(3,333)			—		(3,333)
Adjustment to postretirement benefit obligation		—			1,380		1,380
Net other comprehensive earnings		9,644			1,380		11,024
Balances at June 26, 2021		$	124,417		(20,194)		104,223

A reconciliation of the changes in accumulated other comprehensive earnings (losses) net of income taxes for the six months ended June 25, 2022 and June 26, 2021 is as follows:


	Investments			Postretirement Benefits		Accumulated Other Comprehensive Earnings (Losses)
		(Amounts are in thousands)
2022
Balances at December 25, 2021		$	7,054		(12,475)		(5,421)
Unrealized loss on debt securities		(549,727)			—		(549,727)
Net realized gain on debt securities reclassified to investment income		(908)			—		(908)
Adjustment to postretirement benefit obligation		—			677		677
Net other comprehensive (losses) earnings		(550,635)			677		(549,958)
Balances at June 25, 2022		$	(543,581)		(11,798)		(555,379)

2021
Balances at December 26, 2020		$	223,904		(22,953)		200,951
Unrealized loss on debt securities		(90,571)			—		(90,571)
Net realized gain on debt securities reclassified to investment income		(8,916)			—		(8,916)
Adjustment to postretirement benefit obligation		—			2,759		2,759
Net other comprehensive (losses) earnings		(99,487)			2,759		(96,728)

Balances at June 26, 2021		$	124,417		(20,194)		104,223