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ACCUMULATED OTHER COMPREHENSIVE LOSS
3 Months Ended
Jun. 27, 2014
ACCUMULATED OTHER COMPREHENSIVE LOSS  
ACCUMULATED OTHER COMPREHENSIVE LOSS

8.  ACCUMULATED OTHER COMPREHENSIVE LOSS

 

The changes in accumulated other comprehensive loss by component, net of tax, are as follows:

 

 

 

Three-Month Period Ended

 

Three-Month Period Ended

 

 

 

June 27, 2014

 

June 28, 2013

 

 

 

Unrealized gain (loss) on
derivative instruments
and other

 

Foreign currency
translation
adjustments

 

Total

 

Unrealized gain (loss) on
derivative instruments
and other

 

Foreign currency
translation
adjustments

 

Total

 

 

 

(In thousands)

 

Beginning balance

 

$

(32,849

)

$

(93,307

)

$

(126,156

)

$

(18,857

)

$

(58,624

)

$

(77,481

)

Other comprehensive gain (loss) before reclassifications

 

1,000

 

5,107

 

6,107

 

(6,245

)

(17,509

)

(23,754

)

Net (gains) losses reclassified from accumulated other comprehensive loss

 

9,725

 

(9,252

)

473

 

(3,889

)

 

(3,889

)

Net current-period other comprehensive gain (loss)

 

10,725

 

(4,145

)

6,580

 

(10,134

)

(17,509

)

(27,643

)

Ending balance

 

$

(22,124

)

$

(97,452

)

$

(119,576

)

$

(28,991

)

$

(76,133

)

$

(105,124

)

 

Net losses reclassified from accumulated other comprehensive loss during the three-month period ended June 27, 2014 relating to derivative instruments and other includes $5.5 million attributable to the Company’s cash flow hedge instruments which were recognized as a component of cost of sales in the condensed consolidated statement of operations. During the three-month period ended June 27, 2014, the Company recognized a loss of $11.0 million in connection with the disposition of a certain manufacturing facility in western Europe.  This loss includes the settlement of unrealized losses of $4.2 million on an insignificant defined benefit plan associated with the disposed facility offset by the release of certain cumulative foreign currency translation gains of $9.3 million, both of which have been reclassified from accumulated other comprehensive loss during the period.  The loss on sale is included in other charges (income), net in the condensed consolidated statement of operations.

 

Substantially all unrealized losses relating to derivative instruments and other, reclassified from accumulated other comprehensive loss for the three-month period ended June 28, 2013, was recognized as a component of cost of sales in the condensed consolidated statement of operations, which primarily relate to the Company’s foreign currency contracts accounted for as cash flow hedges.