Accumulated Other Comprehensive Earnings (Losses) (Notes)

9 Months Ended

Sep. 24, 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 September 24, 2022 and September 25, 2021 is as follows:


	Investments			Postretirement Benefit		Accumulated Other Comprehensive Earnings (Losses)
		(Amounts are in thousands)
2022
Balances at June 25, 2022		$	(543,581)		(11,798)		(555,379)
Unrealized loss on debt securities		(119,057)			—		(119,057)
Net realized loss on debt securities reclassified to investment income		1,889			—		1,889
Adjustment to postretirement benefit obligation		—			339		339
Net other comprehensive (losses) earnings		(117,168)			339		(116,829)
Balances at September 24, 2022		$	(660,749)		(11,459)		(672,208)

2021
Balances at June 26, 2021		$	124,417		(20,194)		104,223
Unrealized loss on debt securities		(12,611)			—		(12,611)
Net realized gain on debt securities reclassified to investment income		(6,258)			—		(6,258)
Adjustment to postretirement benefit obligation		—			1,378		1,378
Net other comprehensive (losses) earnings		(18,869)			1,378		(17,491)
Balances at September 25, 2021		$	105,548		(18,816)		86,732

A reconciliation of the changes in accumulated other comprehensive earnings (losses) net of income taxes for the nine months ended September 24, 2022 and September 25, 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		(668,784)			—		(668,784)
Net realized loss on debt securities reclassified to investment income		981			—		981
Adjustment to postretirement benefit obligation		—			1,016		1,016
Net other comprehensive (losses) earnings		(667,803)			1,016		(666,787)
Balances at September 24, 2022		$	(660,749)		(11,459)		(672,208)

2021
Balances at December 26, 2020		$	223,904		(22,953)		200,951
Unrealized loss on debt securities		(103,182)			—		(103,182)
Net realized gain on debt securities reclassified to investment income		(15,174)			—		(15,174)
Adjustment to postretirement benefit obligation		—			4,137		4,137
Net other comprehensive (losses) earnings		(118,356)			4,137		(114,219)

Balances at September 25, 2021		$	105,548		(18,816)		86,732