Accumulated Other Comprehensive Income (Loss)

6 Months Ended

Jul. 02, 2023

Accumulated Other Comprehensive Income (Loss)

K. ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

Changes in

ccumulated other comprehensive income (loss), which are presented net of tax, consist of the following:


	Foreign Currency Translation Adjustment			Unrealized (Losses) Gains on Marketable Securities			Unrealized (Losses) Gains on Cash Flow Hedges			Retirement Plans Prior Service Credit			Total

	(in thousands)
Six Months Ended July 2, 2023
Balance at December 31, 2022, net of tax of $0, $(2,308), $(708), $(1,130), respectively	$	(39,849	)	$	(8,661	)	$	(2,517	)	$	1,159		$	(49,868	)
Other comprehensive gain before reclassifications, net of tax of $0, $323, $1,088, $0, respectively		12,250			1,726			3,866			—			17,842
Amounts reclassified from accumulated other comprehensive income, net of tax of $0, $10, $428, $(1), respectively		—			33			1,524			(3	)		1,554

Net current period other comprehensive gain (loss), net of tax of $0, $333, $1,516, $(1), respectively		12,250			1,759			5,390			(3	)		19,396

Balance at July 2, 2023, net of tax of $0, $(1,975), $808, $(1,131), respectively	$	(27,599	)	$	(6,902	)	$	2,873		$	1,156		$	(30,472	)

Six Months Ended July 3, 2022
Balance at December 31, 2021, net of tax of $0, $1,055, $0, $(1,128), respectively	$	(10,818	)	$	3,704		$	—		$	1,166		$	(5,948	)
Other comprehensive loss before reclassifications, net of tax of $0, $(2,573), $0, $0, respectively		(37,307	)		(9,910	)		—			—			(47,217	)
Amounts reclassified from accumulated other comprehensive income, net of tax of $0, $59, $0, $(1), respectively		—			209			—			(3	)		206

Net current period other comprehensive loss, net of tax of $0, $(2,514), $0, $(1), respectively		(37,307	)		(9,701	)		—			(3	)		(47,011	)

Balance at July 3, 2022, net of tax of $0, $(1,459), $0, $(1,129), respectively	$	(48,125	)	$	(5,997	)	$	—		$	1,163		$	(52,959	)

Reclas

sifica

tions out of accumulated other comprehensive income (loss) to the statement of operations for the three and six months ended July 2, 2023 and July 3, 2022, were as follows:


Details about Accumulated Other Comprehensive Income (Loss) Components	For the Three Months Ended						For the Six Months Ended						Affected Line Item in the Statements of Operations
	July 2,			July 3,			July 2,			July 3,
	2023			2022			2023			2022

	(in thousands)
Available-for-sale marketable securities:
Unrealized losses, net of tax of $(8), $(77), $(10), $(59), respectively	$	(28	)	$	(274	)	$	(33	)	$	(209	)	Other (income) expense, net
Cash flow hedges:
Unrealized losses, net of tax of $(91), $0, $(428), $0, respectively		(323	)		—			(1,524	)		—		Revenue
Defined benefit pension and postretirement plans:
Amortization of prior service credit, net of tax of $0, $0, $1, $1, respectively		2			2			3			3		(a)

Total reclassifications, net of tax of $(99), $(77), $(437), $(58), respectively	$	(349	)	$	(272	)	$	(1,554	)	$	(206	)	Net income

(a)	The amortization of prior service credit is included in the computation of net periodic postretirement benefit cost. See Note O: “Retirement Plans.”