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 10, 2018 and February 11, 2017 consisted of the following:


(in thousands)	Pension Liability				Foreign Currency⁽³⁾				Net Unrealized Gain on Securities				Derivatives				Total

Balance at November 18, 2017		$	(71,060	)		$	(219,031	)		$	(327	)		$	(6,033	)		$	(296,451	)
Other comprehensive income (loss) before reclassifications⁽¹⁾			–				7,507				(224	)			–				7,283
Amounts reclassified from Accumulated other comprehensive loss⁽¹⁾			2,361	⁽²⁾			–				(34	)⁽⁴⁾			457	⁽⁵⁾			2,784

Balance at February 10, 2018		$	(68,699	)		$	(211,524	)		$	(585	)		$	(5,576	)		$	(286,384	)


(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	)

(1)

Amounts in parentheses indicate debits to Accumulated other comprehensive loss.

(2)

Represents amortization of pension liability adjustments, net of taxes of $117 for the twelve weeks ended February 10, 2018 and $1,248 for the twelve weeks ended February 11, 2017, 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 $16 for the twelve weeks ended February 10, 2018 and $18 for the twelve weeks ended February 11, 2017, 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 $52 for the twelve weeks ended February 10, 2018 and $188 for the twelve weeks ended February 11, 2017, 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 10, 2018 and February 11, 2017, consisted of the following:


(in thousands)	Pension Liability				Foreign Currency⁽³⁾				Net Unrealized Gain on Securities				Derivatives				Total

Balance at August 26, 2017		$	(72,376	)		$	(175,814	)		$	(11	)		$	(6,356	)		$	(254,557	)
Other comprehensive income (loss) before reclassifications⁽¹⁾			–				(35,710	)			(538	)			–				(36,248	)
Amounts reclassified from Accumulated other comprehensive loss⁽¹⁾			3,677	⁽²⁾			–				(36	)⁽⁴⁾			780	⁽⁵⁾			4,421

Balance at February 10, 2018		$	(68,699	)		$	(211,524	)		$	(585	)		$	(5,576	)		$	(286,384	)


(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	)

(1)

Amounts in parentheses indicate debits to Accumulated other comprehensive loss.

(2)

Represents amortization of pension liability adjustments, net of taxes of $1,278 in fiscal 2018 and $2,634 in fiscal 2017, 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 in fiscal 2018 and $15 in fiscal 2017, 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 $237 in fiscal 2018 and $367 in fiscal 2017, which is recorded in Interest expense, net, on the Condensed Consolidated Statements of Income. See “Note E – Derivative Financial Instruments” for further discussion.