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Other Comprehensive Income | 9 Months Ended
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Mar. 28, 2015
Other Comprehensive Income [Abstract] |
Other Comprehensive Income | 11. OTHER COMPREHENSIVE INCOME Comprehensive income is net earnings plus certain other items that are recorded directly to shareholders’ equity, such as foreign currency translation adjustment, amounts relate d to cash flow hedging arrangements and certain amounts related to pension and other postretirement plans. Comprehensive income was $85.5 million and $110.4 million for the third quarter of fiscal 2015 and fiscal 2014, respectively. Comprehensive income was $336.3 million and $607.4 million for the first 39 weeks of fiscal 2015 and fiscal 2014, respectively. A summary of the components of other comprehensive income (loss) and the related tax effects for each of the periods presented is as follows:
|  |  |  | 13-Week Period Ended Mar. 28, 2015
|  | Location of Expense (Income) Recognized in Net Earnings |  | Before Tax Amount |  | Tax |  | Net of Tax Amount
|  |  |  | (In thousands)
Pension and other postretirement benefit plans: |  |  |  |  |  |  |  |  |  |  |
Reclassification adjustments: |  |  |  |  |  |  |  |  |  |  |
Amortization of prior service cost |  | Operating expenses |  | $ | 2,819 |  | $ | 1,082 |  | $ | 1,737
Amortization of actuarial loss (gain), net |  | Operating expenses |  |  | 4,859 |  |  | 1,866 |  |  | 2,993
Total reclassification adjustments |  |  |  |  | 7,678 |  |  | 2,948 |  |  | 4,730
Foreign currency translation: |  |  |  |  |  |  |  |  |  |  |
Other comprehensive income before reclassification adjustments: |  |  |  |  |  |  |  |  |  |  |
Foreign currency translation adjustment |  | N/A |  |  | (97,890) |  |  | - |  |  | (97,890)
Interest rate swaps: |  |  |  |  |  |  |  |  |  |  |
Reclassification adjustments: |  |  |  |  |  |  |  |  |  |  |
Amortization of cash flow hedges |  | Interest expense |  |  | 2,720 |  |  | 1,044 |  |  | 1,676
Total other comprehensive (loss) income |  |  |  | $ | (87,492) |  | $ | 3,992 |  | $ | (91,484)
|  |  |  | 13-Week Period Ended Mar. 29, 2014
|  | Location of Expense (Income) Recognized in Net Earnings |  | Before Tax Amount |  | Tax |  | Net of Tax Amount
|  |  |  | (In thousands)
Pension and other postretirement benefit plans: |  |  |  |  |  |  |  |  |  |  |
Reclassification adjustments: |  |  |  |  |  |  |  |  |  |  |
Amortization of prior service cost |  | Operating expenses |  | $ | 2,828 |  | $ | 1,086 |  | $ | 1,742
Amortization of actuarial loss (gain), net |  | Operating expenses |  |  | 4,046 |  |  | 1,554 |  |  | 2,492
Total reclassification adjustments |  |  |  |  | 6,874 |  |  | 2,640 |  |  | 4,234
Foreign currency translation: |  |  |  |  |  |  |  |  |  |  |
Other comprehensive income before reclassification adjustments: |  |  |  |  |  |  |  |  |  |  |
Foreign currency translation adjustment |  | N/A |  |  | (35,397) |  |  | - |  |  | (35,397)
Interest rate swaps: |  |  |  |  |  |  |  |  |  |  |
Reclassification adjustments: |  |  |  |  |  |  |  |  |  |  |
Amortization of cash flow hedges |  | Interest expense |  |  | 157 |  |  | 60 |  |  | 97
Other comprehensive income before reclassification adjustments: |  |  |  |  |  |  |  |  |  |  |
Change in fair value of cash flow hedges |  | N/A |  |  | (64,025) |  |  | (24,586) |  |  | (39,439)
Total other comprehensive (loss) income |  |  |  | $ | (92,391) |  | $ | (21,886) |  | $ | (70,505)
|  |  |  | 39-Week Period Ended Mar. 28, 2015
|  | Location of Expense (Income) Recognized in Net Earnings |  | Before Tax Amount |  | Tax |  | Net of Tax Amount
|  |  |  | (In thousands)
Pension and other postretirement benefit plans: |  |  |  |  |  |  |  |  |  |  |
Reclassification adjustments: |  |  |  |  |  |  |  |  |  |  |
Amortization of prior service cost |  | Operating expenses |  | $ | 8,458 |  | $ | 3,247 |  | $ | 5,211
Amortization of actuarial loss (gain), net |  | Operating expenses |  |  | 14,577 |  |  | 5,598 |  |  | 8,979
Total reclassification adjustments |  |  |  |  | 23,035 |  |  | 8,845 |  |  | 14,190
Foreign currency translation: |  |  |  |  |  |  |  |  |  |  |
Other comprehensive income before reclassification adjustments: |  |  |  |  |  |  |  |  |  |  |
Foreign currency translation adjustment |  | N/A |  |  | (260,997) |  |  | - |  |  | (260,997)
Interest rate swaps: |  |  |  |  |  |  |  |  |  |  |
Reclassification adjustments: |  |  |  |  |  |  |  |  |  |  |
Amortization of cash flow hedges |  | Interest expense |  |  | 5,585 |  |  | 2,144 |  |  | 3,441
Other comprehensive income before reclassification adjustments: |  |  |  |  |  |  |  |  |  |  |
Change in fair value of cash flow hedges |  | N/A |  |  | (55,374) |  |  | (21,263) |  |  | (34,111)
Total other comprehensive (loss) income |  |  |  | $ | (287,751) |  | $ | (10,274) |  | $ | (277,477)
|  |  |  | 39-Week Period Ended Mar. 29, 2014
|  | Location of Expense (Income) Recognized in Net Earnings |  | Before Tax Amount |  | Tax |  | Net of Tax Amount
|  |  |  | (In thousands)
Pension and other postretirement benefit plans: |  |  |  |  |  |  |  |  |  |  |
Reclassification adjustments: |  |  |  |  |  |  |  |  |  |  |
Amortization of prior service cost |  | Operating expenses |  | $ | 8,484 |  | $ | 3,257 |  | $ | 5,227
Amortization of actuarial loss (gain), net |  | Operating expenses |  |  | 12,138 |  |  | 4,663 |  |  | 7,475
Total reclassification adjustments |  |  |  |  | 20,622 |  |  | 7,920 |  |  | 12,702
Foreign currency translation: |  |  |  |  |  |  |  |  |  |  |
Other comprehensive income before reclassification adjustments: |  |  |  |  |  |  |  |  |  |  |
Foreign currency translation adjustment |  | N/A |  |  | (43,537) |  |  | - |  |  | (43,537)
Interest rate swaps: |  |  |  |  |  |  |  |  |  |  |
Reclassification adjustments: |  |  |  |  |  |  |  |  |  |  |
Amortization of cash flow hedges |  | Interest expense |  |  | 469 |  |  | 180 |  |  | 289
Other comprehensive income before reclassification adjustments: |  |  |  |  |  |  |  |  |  |  |
Change in fair value of cash flow hedges |  | N/A |  |  | (64,025) |  |  | (24,586) |  |  | (39,439)
Total other comprehensive income (loss) |  |  |  | $ | (86,471) |  | $ | (16,486) |  | $ | (69,985)
The following tables provide a summary of the changes in accumulated other comprehensive (loss) income for the periods presented:
|  | 39-Week Period Ended Mar. 28, 2015
|  | Pension and Other Postretirement Benefit Plans, net of tax |  | Foreign Currency Translation |  | Interest Rate Swaps, net of tax |  | Total
|  | (In thousands)
Balance as of Jun. 28, 2014 |  | $ | (685,957) |  | $ | 134,452 |  | $ | (91,158) |  | $ | (642,663)
Other comprehensive income before reclassification adjustments |  |  | - |  |  | (260,997) |  |  | - |  |  | (260,997)
Amortization of cash flow hedges |  |  | - |  |  | - |  |  | 3,441 |  |  | 3,441
Change in fair value of cash flow hedges |  |  | - |  |  | - |  |  | (34,111) |  |  | (34,111)
Amortization of unrecognized prior service cost |  |  | 5,211 |  |  | - |  |  | - |  |  | 5,211
Amortization of unrecognized net actuarial losses |  |  | 8,979 |  |  | - |  |  | - |  |  | 8,979
Balance as of Mar. 28, 2015 |  | $ | (671,767) |  | $ | (126,545) |  | $ | (121,828) |  | $ | (920,140)
|  | 39-Week Period Ended Mar. 29, 2014
|  | Pension and Other Postretirement Benefit Plans, net of tax |  | Foreign Currency Translation |  | Interest Rate Swaps, net of tax |  | Total
|  | (In thousands)
Balance as of Jun. 29, 2013 |  | $ | (575,167) |  | $ | 137,558 |  | $ | (9,328) |  | $ | (446,937)
Other comprehensive income before reclassification adjustments |  |  | - |  |  | (43,537) |  |  | (39,439) |  |  | (82,976)
Amounts reclassified from accumulated other comprehensive loss |  |  | 12,702 |  |  | - |  |  | 289 |  |  | 12,991
Balance as of Mar. 29, 2014 |  | $ | (562,465) |  | $ | 94,021 |  | $ | (48,478) |  | $ | (516,922)

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- Definition The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e637-108580 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 14 -URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e681-108580 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e689-108580 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=36458714&loc=SL7669619-108580 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e640-108580 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 17 -URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e716-108580 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 16 -URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e709-108580 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Reclassification Adjustments -URI http://asc.fasb.org/extlink&oid=6522872 + Details
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