Accumulated Other Comprehensive Income (Loss) |
L. ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) Changes in accumulated other comprehensive income (loss), which are presented net of tax, consist of the following:
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Unrealized Gains on Cash Flow Hedges |
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Nine Months Ended October 2, 2022 |
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Balance at December 31, 2021, net of tax of $0, $1,055, $0, $(1,128), respectively |
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$ |
(10,818 |
) |
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$ |
3,704 |
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$ |
— |
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$ |
1,166 |
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$ |
(5,948 |
) |
Other comprehensive (loss) gain before reclassifications, net of tax of $0, $(3,570), $0, $0, respectively |
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(66,258 |
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(13,491 |
) |
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537 |
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— |
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(79,212 |
) |
Amounts reclassified from accumulated other comprehensive income, net of tax of $0, $48, $0, $(2), respectively |
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— |
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386 |
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— |
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(5 |
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381 |
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Net current period other comprehensive (loss) gain, net of tax of $0, $(3,522), $0, $(2), respectively |
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(66,258 |
) |
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(13,105 |
) |
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537 |
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(5 |
) |
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(78,831 |
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Balance at October 2, 2022, net of tax of $0, $(2,467), $0, $(1,130), respectively |
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$ |
(77,076 |
) |
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$ |
(9,401 |
) |
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$ |
537 |
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$ |
1,161 |
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$ |
(84,779 |
) |
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Nine Months Ended October 3, 2021 |
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Balance at December 31, 2020, net of tax of $0, $1,910, $0, $(1,126), respectively |
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$ |
25,389 |
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$ |
6,954 |
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$ |
— |
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$ |
1,173 |
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$ |
33,516 |
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Other comprehensive loss before reclassifications, net of tax of $0, $(516), $0, $0, respectively |
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(26,672 |
) |
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(1,952 |
) |
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— |
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— |
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(28,624 |
) |
Amounts reclassified from accumulated other comprehensive income, net of tax of $0, $(186), $0, $(2), respectively |
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— |
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(670 |
) |
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— |
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(5 |
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(675 |
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Net current period other comprehensive loss, net of tax of $0, $(702), $0, $(2), respectively |
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(26,672 |
) |
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(2,622 |
) |
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— |
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(5 |
) |
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(29,299 |
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Balance at October 3, 2021, net of tax of $0, $1,208, $0, $(1,128), respectively |
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$ |
(1,283 |
) |
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$ |
4,332 |
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$ |
— |
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$ |
1,168 |
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$ |
4,217 |
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| Reclassifications out of accumulated other comprehensive income (loss) to the statement of operations for the three and nine months ended October 2, 2022 and October 3, 2021 were as follows:
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Details about Accumulated Other Comprehensive Income (Loss) Components |
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Unrealized (losses) gains, net of tax of $11, $65, $(48 ) , $186, respectively |
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$ |
(177 |
) |
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$ |
229 |
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$ |
(386 |
) |
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$ |
670 |
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Other (income) expense, net |
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Defined benefit postretirement plan: |
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Amortization of prior service credit, net of tax of $0, $0, $2, $2, respectively |
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2 |
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2 |
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5 |
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5 |
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Total reclassifications, net of tax of $11, $65, $46, $188, respectively |
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$ |
(175 |
) |
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$ |
231 |
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$ |
(381 |
) |
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$ |
675 |
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Net income |
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(a) |
The amortization of prior service credit is included in the computation of net periodic postretirement benefit cost. See Note P: “Retirement Plans.” |
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