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Other Comprehensive Income (Tables) | 3 Months Ended
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Sep. 26, 2020
Other Comprehensive Income (Loss), Net of Tax [Abstract] |
Summary of components of other comprehensive (loss) income and related tax effects | 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 Sep. 26, 2020
| 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 | Other expense, net |  | $ | 183 |  |  | $ | 46 |  |  | $ | 137 |
Amortization of actuarial loss, net | Other expense, net |  | 10,353 |  |  | 2,588 |  |  | 7,765 |
Total reclassification adjustments |  |  | 10,536 |  |  | 2,634 |  |  | 7,902 |
Foreign currency translation: |  |  |  |  |  |  |
Foreign currency translation adjustment | N/A |  | 113,140 |  |  | — |  |  | 113,140 |
Marketable securities: |  |  |  |  |  |  |
Change in marketable securities (1) | N/A |  | (600) |  |  | (126) |  |  | (474) |
Hedging instruments: |  |  |  |  |  |  |
Other comprehensive income (loss) before reclassification adjustments: |  |  |  |  |  |  |
Change in cash flow hedge (3) | Operating expenses (2) |  | (16,841) |  |  | (3,874) |  |  | (12,967) |
Change in net investment hedge | N/A |  | (20,399) |  |  | (9,138) |  |  | (11,261) |
Total other comprehensive income before reclassification adjustments |  |  | (37,240) |  |  | (13,012) |  |  | (24,228) |
Reclassification adjustments: |  |  |  |  |  |  |
Amortization of cash flow hedges | Interest expense |  | 2,874 |  |  | 719 |  |  | 2,155 |
Total other comprehensive income |  |  | $ | 88,710 |  |  | $ | (9,785) |  |  | $ | 98,495 |
(1)Realized gains or losses on marketa ble securities are presented within other (income) expense, net in the consolidated results of operations; however, there were no significant gains or losses realized in the first quarter of fiscal 2021. (2)Amount partially impacts operating expense for fuel swaps accounted for as cash flow hedges. (3)Change in cash flow hedges includes the termination of some cash flow hedges, as described in Note 6, “Derivative Financial Instruments.”
|  |  | 13-Week Period Ended Sep. 28, 2019
| 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 | Other expense, net |  | $ | 1,905 |  |  | $ | 477 |  |  | $ | 1,428 |
Amortization of actuarial loss, net | Other expense, net |  | 8,942 |  |  | 2,259 |  |  | 6,683 |
Total reclassification adjustments |  |  | 10,847 |  |  | 2,736 |  |  | 8,111 |
Foreign currency translation: |  |  |  |  |  |  |
Foreign currency translation adjustment | N/A |  | (126,159) |  |  | — |  |  | (126,159) |
Marketable Securities: |  |  |  |  |  |  |
Change in marketable securities (1) | N/A |  | 1,181 |  |  | 248 |  |  | 933 |
Hedging instruments: |  |  |  |  |  |  |
Other comprehensive income (loss) before reclassification adjustments: |  |  |  |  |  |  |
Change in cash flow hedges | Operating expenses (2) |  | 12,651 |  |  | 3,392 |  |  | 9,259 |
Change in net investment hedges | N/A |  | 42,302 |  |  | 12,302 |  |  | 30,000 |
Total other comprehensive income (loss) before reclassification adjustments |  |  | 54,953 |  |  | 15,694 |  |  | 39,259 |
Reclassification adjustments: |  |  |  |  |  |  |
Amortization of cash flow hedges | Interest expense |  | 2,874 |  |  | 719 |  |  | 2,155 |
Total other comprehensive loss |  |  | $ | (56,304) |  |  | $ | 19,397 |  |  | $ | (75,701) |
(1)Realized gains or losses on marketable securities are presented within other (income) expense, net in the consolidated results of operations; however, there were no significant gains or losses realized in the first quarter of fiscal 2020. (2) Amount partially impacts operating expense for fuel swaps accounted for as cash flow hedges.
Rollforward of accumulated other comprehensive (loss) income | The following tables provide a summary of the changes in accumulated other comprehensive (loss) income for the periods presented:
| 13-Week Period Ended Sep. 26, 2020
| Pension and Other Postretirement Benefit Plans, net of tax |  | Foreign Currency Translation |  | Hedging, net of tax |  | Marketable Securities, net of tax |  | Total
| (In thousands)
Balance as of June 27, 2020 | $ | (1,265,714) |  |  | $ | (402,384) |  |  | $ | (49,878) |  |  | $ | 7,095 |  |  | $ | (1,710,881) |
Equity adjustment from foreign currency translation | — |  |  | 113,140 |  |  | — |  |  | — |  |  | 113,140 |
Amortization of cash flow hedges | — |  |  | — |  |  | 2,155 |  |  | — |  |  | 2,155 |
Change in net investment hedges | — |  |  | — |  |  | (11,261) |  |  | — |  |  | (11,261) |
Change in cash flow hedge | — |  |  | — |  |  | (12,967) |  |  | — |  |  | (12,967) |
Amortization of unrecognized prior service cost | 137 |  |  | — |  |  | — |  |  | — |  |  | 137 |
Amortization of unrecognized net actuarial losses | 7,765 |  |  | — |  |  | — |  |  | — |  |  | 7,765 |
Change in marketable securities | — |  |  | — |  |  | — |  |  | (474) |  |  | (474) |
Balance as of Sep. 26, 2020 | $ | (1,257,812) |  |  | $ | (289,244) |  |  | $ | (71,951) |  |  | $ | 6,621 |  |  | $ | (1,612,386) |
| 13-Week Period Ended Sep. 28, 2019
| Pension and Other Postretirement Benefit Plans, net of tax |  | Foreign Currency Translation |  | Hedging, net of tax |  | Marketable Securities, net of tax |  | Total
| (In thousands)
Balance as of Jun. 29, 2019 | $ | (1,217,617) |  |  | $ | (290,169) |  |  | $ | (94,770) |  |  | 2,827 |  |  | $ | (1,599,729) |
Equity adjustment from foreign currency translation | — |  |  | (126,159) |  |  | — |  |  | — |  |  | (126,159) |
Amortization of cash flow hedges | — |  |  | — |  |  | 2,155 |  |  | — |  |  | 2,155 |
Change in net investment hedges | — |  |  | — |  |  | 30,000 |  |  | — |  |  | 30,000 |
Change in cash flow hedge | — |  |  | — |  |  | 9,259 |  |  | — |  |  | 9,259 |
Amortization of unrecognized prior service cost | 1,428 |  |  | — |  |  | — |  |  | — |  |  | 1,428 |
Amortization of unrecognized net actuarial losses | 6,683 |  |  | — |  |  | — |  |  | — |  |  | 6,683 |
Change in marketable securities | — |  |  | — |  |  | — |  |  | 933 |  |  | 933 |
Balance as of Sep. 28, 2019 | $ | (1,209,506) |  |  | $ | (416,328) |  |  | $ | (53,356) |  |  | $ | 3,760 |  |  | $ | (1,675,430) |

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- Definition Tabular disclosure of components of comprehensive income (loss). Includes, but is not limited to, foreign currency translation adjustments, foreign currency transactions designated as economic hedges of a net investment in foreign entity, gain (loss) and prior service cost (credit) for pension plans and other postretirement benefit plans. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121641772&loc=d3e526-108580 + Details
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