Accumulated Other Comprehensive Income (Loss)

9 Months Ended

Sep. 24, 2022

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 Nine Months Ended September 24, 2022
(In thousands)	Cumulative Translation Adjustment		Unrealized Gain (Loss) on Derivatives		Pension/OPEB Liability Adjustment		Attributable to Unconsol. Affiliates		Total
Balance as of December 25, 2021	$	(42,303)	$	803	$	(11,500)	$	(347)	$	(53,347)
Other comprehensive (loss) income before reclassifications	(41,078)		(13,227)		1,424		4,218		(48,663)
Amounts reclassified from AOCI	—		2,253		305		—		2,558
Net current-period other comprehensive (loss) income	(41,078)		(10,974)		1,729		4,218		(46,105)
Balance as of September 24, 2022	$	(83,381)	$	(10,171)	$	(9,771)	$	3,871	$	(99,452)

	For the Nine Months Ended September 25, 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	763		862		(98)		2,211		3,738
Amounts reclassified from AOCI	—		(1,584)		574		—		(1,010)
Net current-period other comprehensive income (loss)	763		(722)		476		2,211		2,728
Balance as of September 25, 2021	$	(36,576)	$	262	$	(16,727)	$	886	$	(52,155)

Reclassification adjustments out of AOCI were as follows:

	Amount reclassified from AOCI
	For the Quarter Ended				For the Nine Months Ended
(In thousands)	September 24, 2022		September 25, 2021		September 24, 2022		September 25, 2021		Affected line item
Unrealized losses (gains) on derivative commodity contracts	$	6,151	$	1,077	$	2,906	$	(2,612)	Cost of goods sold
	(1,384)		187		(653)		1,028		Income tax (benefit) expense
	$	4,767	$	1,264	$	2,253	$	(1,584)	Net of tax and noncontrolling interests
Amortization of net loss and prior service cost on employee benefit plans	$	184	$	228	$	356	$	686	Other income, net
	(31)		(37)		(51)		(112)		Income tax benefit
	$	153	$	191	$	305	$	574	Net of tax and noncontrolling interests