Accumulated Other Comprehensive Income (Loss)

12 Months Ended

Dec. 30, 2023

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 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)

Other comprehensive income (loss) before reclassifications	21,162		1,146		(3,499)		917		19,726
Amounts reclassified from AOCI	—		(2,419)		(353)		—		(2,772)




Balance at December 30, 2023	$	(48,076)	$	213	$	(2,630)	$	3,272	$	(47,221)

Reclassification adjustments out of AOCI were as follows:


	Amount reclassified from AOCI
(In thousands)	2023		2022		2021		Affected Line Item

Unrealized losses (gains) on derivatives:
Commodity contracts	$	(3,109)	$	9,891	$	(3,848)	Cost of goods sold

	690		(2,225)		1,306		Income tax expense (benefit)

	$	(2,419)	$	7,666	$	(2,542)	Net of tax and noncontrolling interests


Amortization of net loss (gain) and prior service cost on employee benefit plans	$	(451)	$	(1,277)	$	963	Other income, net
	98		332		(159)		Income tax expense (benefit)

	$	(353)	$	(945)	$	804	Net of tax and noncontrolling interests