Accumulated Other Comprehensive Income (Loss)

3 Months Ended

Mar. 27, 2021

Equity [Abstract]

Accumulated Other Comprehensive Income (Loss)

Accumulated Other Comprehensive Income (Loss)AOCI includes certain foreign currency translation adjustments from those subsidiaries not using the U.S. dollar as their functional currency, net deferred gains and losses on certain derivative instruments accounted for as cash flow hedges, adjustments to pension and OPEB liabilities, and other comprehensive income attributable to unconsolidated affiliates.

The following tables provide changes in AOCI by component, net of taxes and noncontrolling interests (amounts in parentheses indicate debits to AOCI):

	For the Quarter Ended March 27, 2021
(In thousands)	Cumulative Translation Adjustment		Unrealized Gain (Loss) on Derivatives		Pension/OPEB Liability Adjustment		Attributable to Unconsol. Affiliates		Total
Balance as of December 26, 2020	$	(37,339)	$	984	$	(17,203)	$	(1,325)	$	(54,883)
Other comprehensive income (loss) before reclassifications	3,966		1,488		(283)		1,987		7,158
Amounts reclassified from AOCI	—		(995)		192		—		(803)
Net current-period other comprehensive income (loss)	3,966		493		(91)		1,987		6,355
Balance as of March 27, 2021	$	(33,373)	$	1,477	$	(17,294)	$	662	$	(48,528)

	For the Quarter Ended March 28, 2020
(In thousands)	Cumulative Translation Adjustment		Unrealized Gain (Loss) on Derivatives		Pension/OPEB Liability Adjustment		Attributable to Unconsol. Affiliates		Total
Balance as of December 28, 2019	$	(46,198)	$	476	$	(21,855)	$	(1,193)	$	(68,770)
Other comprehensive (loss) income before reclassifications	(20,664)		(3,735)		587		1,887		(21,925)
Amounts reclassified from AOCI	—		378		152		—		530
Net current-period other comprehensive (loss) income	(20,664)		(3,357)		739		1,887		(21,395)
Balance as of March 28, 2020	$	(66,862)	$	(2,881)	$	(21,116)	$	694	$	(90,165)

Reclassification adjustments out of AOCI were as follows:

	Amount reclassified from AOCI
		For the Quarter Ended
(In thousands)		March 27, 2021		March 28, 2020		Affected line item
Unrealized (gains) losses on derivative commodity contracts		$	(1,299)	$	468	Cost of goods sold
		304		(90)		Income tax expense (benefit)
		$	(995)	$	378	Net of tax and noncontrolling interests
Amortization of net loss and prior service cost on employee benefit plans		$	229	$	181	Other income, net
		(37)		(29)		Income tax benefit
		$	192	$	152	Net of tax and noncontrolling interests