Accumulated Other Comprehensive Loss

8 Months Ended

May 07, 2016

Equity [Abstract]

Accumulated Other Comprehensive Loss

Note J – Accumulated Other Comprehensive Loss

Accumulated other comprehensive loss includes certain adjustments to pension liabilities, foreign currency translation adjustments, certain activity for interest rate swaps and treasury rate locks that qualify as cash flow hedges and unrealized gains (losses) on available-for-sale securities. Changes in Accumulated other comprehensive loss for the twelve week periods ended May 7, 2016 and May 9, 2015 consisted of the following:

(in thousands)	Pension Liability			Foreign Currency (3)			Net Unrealized Gain on Securities			Derivatives			Total
Balance at February 13, 2016	$	(68,082	)	$	(231,424	)	$	60		$	(8,403	)	$	(307,849	)
Other comprehensive income (loss) before reclassifications (1)		—			36,000			187			(1,047	)		35,140
Amounts reclassified from Accumulated other comprehensive loss (1)		1,479	(2)		—			(28	)(4)		1,281	(5)		2,732
Balance at May 7, 2016	$	(66,603	)	$	(195,424	)	$	219		$	(8,169	)	$	(269,977	)
(in thousands)	Pension Liability			Foreign Currency (3)			Net Unrealized Gain on Securities			Derivatives			Total
Balance at February 14, 2015	$	(61,335	)	$	(116,689	)	$	(12	)	$	(7,550	)	$	(185,586	)
Other comprehensive (loss) income before reclassifications (1)		—			(13,285	)		121			277			(12,887	)
Amounts reclassified from Accumulated other comprehensive loss (1)		1,256	(2)		—			8	(4)		27	(5)		1,291
Balance at May 9, 2015	$	(60,079	)	$	(129,974	)	$	117		$	(7,246	)	$	(197,182	)

(1) Amounts in parentheses indicate debits to Accumulated other comprehensive loss.

(2) Represents amortization of pension liability adjustments, net of taxes of $945 for the twelve weeks ended May 7, 2016 and $807 for the twelve weeks ended May 9, 2015, which is recorded in Operating, selling, general and administrative expenses on the Condensed Consolidated Statements of Income. See “Note G – Pension and Savings Plans” for further discussion.

(3) Foreign currency is not shown net of additional U.S. tax as earnings of non-U.S. subsidiaries are intended to be permanently reinvested.

(4) Represents realized losses on marketable securities, net of taxes of $15 for the twelve weeks ended May 7, 2016 and $4 for the twelve weeks ended May 9, 2015, which is recorded in Operating, selling, general, and administrative expenses on the Condensed Consolidated Statements of Income. See “Note D – Marketable Securities” for further discussion.

(5) Represents gains and losses on derivatives, net of taxes of $822 for the twelve weeks ended May 7, 2016 and $15 for the twelve weeks ended May 9, 2015, which is recorded in Interest expense, net, on the Condensed Consolidated Statements of Income. See “Note E – Derivative Financial Instruments” for further discussion.

Changes in Accumulated other comprehensive loss for the thirty-six week periods ended May 7, 2016 and May 9, 2015 consisted of the following:

(in thousands)	Pension Liability			Foreign Currency (3)			Net Unrealized Gain on Securities			Derivatives			Total
Balance at August 29, 2015	$	(70,795	)	$	(171,488	)	$	(26	)	$	(7,209	)	$	(249,518	)
Other comprehensive (loss) income before reclassifications (1)		—			(23,936	)		280			(2,687	)		(26,343	)
Amounts reclassified from Accumulated other comprehensive loss (1)		4,192	(2)		—			(35	)(4)		1,727	(5)		5,884
Balance at May 7, 2016	$	(66,603	)	$	(195,424	)	$	219		$	(8,169	)	$	(269,977	)
(in thousands)	Pension Liability			Foreign Currency (3)			Net Unrealized Gain on Securities			Derivatives			Total
Balance at August 30, 2014	$	(63,820	)	$	(57,836	)	$	76		$	(7,323	)	$	(128,903	)
Other comprehensive (loss) income before reclassifications (1)		—			(72,138	)		61			—			(72,077	)
Amounts reclassified from Accumulated other comprehensive loss (1)		3,741	(2)		—			(20	)(4)		77	(5)		3,798
Balance at May 9, 2015	$	(60,079	)	$	(129,974	)	$	117		$	(7,246	)	$	(197,182	)

(1) Amounts in parentheses indicate debits to Accumulated other comprehensive loss.

(2) Represents amortization of pension liability adjustments, net of taxes of $3,081 in fiscal 2016 and $2,449 in fiscal 2015, which is recorded in Operating, selling, general and administrative expenses on the Condensed Consolidated Statements of Income. See “Note G – Pension and Savings Plans” for further discussion.

(3) Foreign currency is not shown net of additional U.S. tax as earnings of non-U.S. subsidiaries are intended to be permanently reinvested.

(4) Represents realized losses on marketable securities, net of taxes of $19 in fiscal 2016 and $11 in fiscal 2015, which is recorded in Operating, selling, general, and administrative expenses on the Condensed Consolidated Statements of Income. See “Note D – Marketable Securities” for further discussion.

(5) Represents gains and losses on derivatives, net of taxes of $572 in fiscal 2016 and $49 is fiscal 2015, which is recorded in Interest expense, net, on the Condensed Consolidated Statements of Income. See “Note E – Derivative Financial Instruments” for further discussion.