Accumulated Other Comprehensive Loss

5 Months Ended

Feb. 11, 2017

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 February 11, 2017 and February 13, 2016 consisted of the following:

(in thousands)	Pension Liability			Foreign Currency (3)			Net Unrealized Gain on Securities			Derivatives			Total
Balance at November 19, 2016	$	(87,074	)	$	(251,603	)	$	(109	)	$	(7,417	)	$	(346,203	)
Other comprehensive loss before reclassifications (1)		—			(2,342	)		(13	)		—			(2,355	)
Amounts reclassified from Accumulated other comprehensive loss (1)		1,953	(2)		—			(33	)(4)		321	(5)		2,241
Balance at February 11, 2017	$	(85,121	)	$	(253,945	)	$	(155	)	$	(7,096	)	$	(346,317	)
(in thousands)	Pension Liability			Foreign Currency (3)			Net Unrealized Gain on Securities			Derivatives			Total
Balance at November 21, 2015	$	(69,561	)	$	(163,701	)	$	(88	)	$	(7,045	)	$	(240,395	)
Other comprehensive (loss) income before reclassifications (1)		—			(67,723	)		167			(1,640	)		(69,196	)
Amounts reclassified from Accumulated other comprehensive loss (1)		1,479	(2)		—			(19	)(4)		282	(5)		1,742
Balance at February 13, 2016	$	(68,082	)	$	(231,424	)	$	60		$	(8,403	)	$	(307,849	)

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

(2) Represents amortization of pension liability adjustments, net of taxes of $1,248 for the twelve weeks ended February 11, 2017 and $945 for the twelve weeks ended February 13, 2016, 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 $18 for the twelve weeks ended February 11, 2017 and $11 for the twelve weeks ended February 13, 2016, 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 $188 for the twelve weeks ended February 11, 2017 and $165 for the twelve weeks ended February 13, 2016, 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 twenty-four week periods ended February 11, 2017 and February 13, 2016, consisted of the following:

(in thousands)	Pension Liability			Foreign Currency (3)			Net Unrealized Gain on Securities			Derivatives			Total
Balance at August 27, 2016	$	(88,890	)	$	(211,012	)	$	120		$	(7,747	)	$	(307,529	)
Other comprehensive loss before reclassifications (1)		—			(42,933	)		(248	)		—			(43,181	)
Amounts reclassified from Accumulated other comprehensive loss (1)		3,769	(2)		—			(27	)(4)		651	(5)		4,393
Balance at February 11, 2017	$	(85,121	)	$	(253,945	)	$	(155	)	$	(7,096	)	$	(346,317	)
(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)		—			(59,936	)		93			(1,640	)		(61,483	)
Amounts reclassified from Accumulated other comprehensive loss (1)		2,713	(2)		—			(7	)(4)		446	(5)		3,152
Balance at February 13, 2016	$	(68,082	)	$	(231,424	)	$	60		$	(8,403	)	$	(307,849	)

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

(2) Represents amortization of pension liability adjustments, net of taxes of $2,634 in fiscal 2017 and $2,135 in fiscal 2016, 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 in fiscal 2017 and $4 in fiscal 2016, 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 $367 in fiscal 2017 and $250 in fiscal 2016, which is recorded in Interest expense, net, on the Condensed Consolidated Statements of Income. See “Note E – Derivative Financial Instruments” for further discussion.