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 5, 2018 and May 6, 2017 consisted of the following:


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

Balance at February 10, 2018		$	(68,699	)		$	(211,524	)		$	(585	)		$	(5,576	)		$	(286,384	)
Other comprehensive income (loss) before reclassifications ⁽¹⁾			–				(10,674	)			(301	)			–				(10,975	)
Amounts reclassified from Accumulated other comprehensive loss ⁽¹⁾			1,847	⁽²⁾			–				(17	)⁽⁴⁾			390	⁽⁵⁾			2,220

Balance at May 5, 2018		$	(66,852	)		$	(222,198	)		$	(903	)		$	(5,186	)		$	(295,139	)


Balance at February 11, 2017		$	(85,121	)		$	(253,945	)		$	(155	)		$	(7,096	)		$	(346,317	)
Other comprehensive income before reclassifications ⁽¹⁾			–				33,539				33				–				33,572
Amounts reclassified from Accumulated other comprehensive loss ⁽¹⁾			1,953	⁽²⁾			–				(11	)⁽⁴⁾			321	⁽⁵⁾			2,263

Balance at May 6, 2017		$	(83,168	)		$	(220,406	)		$	(133	)		$	(6,775	)		$	(310,482	)

(1)

Amounts in parentheses indicate debits to Accumulated other comprehensive loss.

(2)

Represents amortization of pension liability adjustments, net of taxes of $631 for the twelve weeks ended May 5, 2018 and $1,248 for the twelve weeks ended May 6, 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 certain non-U.S. subsidiaries are intended to be permanently reinvested.

(4)

Represents realized losses on marketable securities, net of taxes of $3 for the twelve weeks ended May 5, 2018 and $6 for the twelve weeks ended May 6, 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 losses on derivatives, net of taxes of $119 for the twelve weeks ended May 5, 2018 and $188 for the twelve weeks ended May 6, 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 thirty-six week periods ended May 5, 2018 and May 6, 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 (loss) before reclassifications⁽¹⁾			–				(46,384	)			(839	)			–				(47,223	)
Amounts reclassified from Accumulated other comprehensive loss⁽¹⁾			5,524	⁽²⁾			–				(53	)⁽⁴⁾			1,170	⁽⁵⁾			6,641

Balance at May 5, 2018		$	(66,852	)		$	(222,198	)		$	(903	)		$	(5,186	)		$	(295,139	)


(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⁾			–				(9,394	)			(215	)			–				(9,609	)
Amounts reclassified from Accumulated other comprehensive loss⁽¹⁾			5,722	⁽²⁾			–				(38	)⁽⁴⁾			972	⁽⁵⁾			6,656

Balance at May 6, 2017		$	(83,168	)		$	(220,406	)		$	(133	)		$	(6,775	)		$	(310,482	)

(1)

Amounts in parentheses indicate debits to Accumulated other comprehensive loss.

(2)

Represents amortization of pension liability adjustments, net of taxes of $1,909 in fiscal 2018 and $3,883 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 certain non-U.S. subsidiaries are intended to be permanently reinvested.

(4)

Represents realized losses on marketable securities, net of taxes of $20 in fiscal 2018 and $20 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 $356 in fiscal 2018 and $555 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.