Other Comprehensive Income (Loss)

12 Months Ended

Dec. 26, 2020

Changes in other comprehensive income (loss) by component for fiscal years 2020, 2019, and 2018 were as follows:


	Fiscal Year Ended
	December 26, 2020						December 28, 2019						December 29, 2018
(in thousands)	Pre-tax		Tax		Net of tax		Pre-tax		Tax		Net of tax		Pre-tax		Tax		Net of tax
Defined benefit pension plan and other adjustments	$	(19,513)	$	3,418	$	(16,095)	$	(9,149)	$	1,062	$	(8,087)	$	924	$	(47)	$	877

Foreign currency translation adjustments (1)	34,707		(2,946)		31,761		(1,476)		664		(812)		(25,338)		—		(25,338)
Total change in other comprehensive (loss) income	$	15,194	$	472	$	15,666	$	(10,625)	$	1,726	$	(8,899)	$	(24,414)	$	(47)	$	(24,461)

(1) The tax shown above within the foreign currency translation adjustments is the U.S. tax associated with the foreign currency translation adjustments of earnings of non-U.S. subsidiaries which have been previously taxed in the U.S. and are not permanently reinvested.

Accumulated Other Comprehensive Income (Loss) (“AOCI”): The following table sets forth the changes in the components of AOCI by component for fiscal years 2020, 2019, and 2018:


(in thousands)	Pension and postretirement liability and reclassification adjustments		Gain (loss) on investments		Foreign currency translation adjustments		Accumulated other comprehensive income (loss)
Balance at December 30, 2017	$	(10,836)	$	9,795	$	(62,627)	$	(63,668)
Cumulative effect adjustment (a)	—		(9,795)		—		(9,795)
2018 activity	877		—		(25,338)		(24,461)
Balance at December 29, 2018	(9,959)		—		(87,965)		(97,924)

2019 activity	(8,087)		—		(812)		(8,899)
Balance at December 28, 2019	(18,046)		—		(88,777)		(106,823)
2020 activity	(16,095)		—		31,761		15,666
Balance at December 26, 2020	(34,141)		—		(57,016)		(91,157)

(a)The Company adopted ASU 2016-01 on December 31, 2017 on a modified retrospective basis, recognizing the cumulative effect as a $9.8 million increase to retained earnings. See Note 1, Summary of Significant Accounting Policies and Other Information, for further discussion.

Due to the signing of the group annuity contract being a significant change in the U.K. pension plan, the liabilities of the plan were remeasured as of April 6, 2020 resulting in an increase of $13.4 million to unamortized actuarial loss within other comprehensive income (loss). See Note 11, Benefits Plans for further discussion.

Amounts reclassified from accumulated other comprehensive income (loss) to earnings for fiscal years 2020, 2019, and 2018 were as follows:


	Fiscal Year Ended
(in thousands)	December 26, 2020		December 28, 2019		December 29, 2018
Pension and postemployment and other plans:
Amortization of prior service, net actuarial loss, and other	$	1,694	$	372	$	291
Net settlement loss	236		260		238
Total	$	1,930	$	632	$	529

The Company recognizes the amortization of prior service costs and settlement loss and curtailment gain in other income, net within the Consolidated Statements of Net Income.