Accumulated Other Comprehensive Income (Loss)

12 Months Ended

Dec. 31, 2022

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 other post-employment benefit liabilities, and other comprehensive income attributable to unconsolidated affiliates.

The following table provides changes in AOCI by component, net of taxes and noncontrolling interest (amounts in parentheses indicate debits to AOCI):


(In thousands)	Cumulative Translation Adjustment		Unrealized Gain (Loss) on Derivatives		Pension/ OPEB Liability Adjustment		Attributable to Unconsol. Affiliates		Total

Balance at December 26, 2020	$	(37,339)	$	984	$	(17,203)	$	(1,325)	$	(54,883)

Other comprehensive (loss) income before reclassifications	(4,964)		2,361		4,899		978		3,274
Amounts reclassified from AOCI	—		(2,542)		804		—		(1,738)




Balance at December 25, 2021	(42,303)		803		(11,500)		(347)		(53,347)

Other comprehensive (loss) income before reclassifications	(26,935)		(6,983)		13,667		2,702		(17,549)
Amounts reclassified from AOCI	—		7,666		(945)		—		6,721




Balance at December 31, 2022	$	(69,238)	$	1,486	$	1,222	$	2,355	$	(64,175)

Reclassification adjustments out of AOCI were as follows:


	Amount reclassified from AOCI
(In thousands)	2022		2021		2020		Affected Line Item

Unrealized losses (gains) on derivatives:
Commodity contracts	$	9,891	$	(3,848)	$	6,337	Cost of goods sold

	(2,225)		1,306		(1,246)		Income tax (benefit) expense

	$	7,666	$	(2,542)	$	5,091	Net of tax and noncontrolling interests

Amortization of net loss (gain) and prior service cost on employee benefit plans	$	—	$	—	$	11,642	Pension plan termination expense
	(1,277)		963		(998)		Other income, net
	332		(159)		(2,353)		Income tax expense (benefit)

	$	(945)	$	804	$	8,291	Net of tax and noncontrolling interests