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Shareholders' Equity | 9 Months Ended
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Sep. 25, 2020
Stockholders' Equity Note [Abstract] |
Shareholders' Equity | Shareholders’ Equity Changes in components of accumulated other comprehensive income (loss), net of tax were (in thousands):
| Pension and Postretirement Medical |  | Cumulative Translation Adjustment |  | Total
Three Months Ended September 25, 2020 |  |  |  |  |
Balance, June 26, 2020 | $ | (109,695) |  |  | $ | (53,987) |  |  | $ | (163,682) |
Other comprehensive income (loss) before reclassifications | — |  |  | 30,966 |  |  | 30,966 |
Reclassified to pension cost and deferred tax | 1,801 |  |  | — |  |  | 1,801 |
Balance, September 25, 2020 | $ | (107,894) |  |  | $ | (23,021) |  |  | $ | (130,915) |
Nine Months Ended September 25, 2020 |  |  |  |  |
Balance, December 27, 2019 | $ | (113,721) |  |  | $ | (56,066) |  |  | $ | (169,787) |
Other comprehensive income (loss) before reclassifications | — |  |  | 33,045 |  |  | 33,045 |
Reclassified to pension cost and deferred tax | 5,827 |  |  | — |  |  | 5,827 |
Balance, September 25, 2020 | $ | (107,894) |  |  | $ | (23,021) |  |  | $ | (130,915) |
Three Months Ended September 27, 2019 |  |  |  |  |
Balance, June 28, 2019 | $ | (83,745) |  |  | $ | (55,567) |  |  | $ | (139,312) |
Other comprehensive income (loss) before reclassifications | — |  |  | (6,396) |  |  | (6,396) |
Reclassified to pension cost and deferred tax | 1,763 |  |  | — |  |  | 1,763 |
Balance, September 27, 2019 | $ | (81,982) |  |  | $ | (61,963) |  |  | $ | (143,945) |
Nine Months Ended September 27, 2019 |  |  |  |  |
Balance, December 28, 2018 | $ | (86,889) |  |  | $ | (57,968) |  |  | $ | (144,857) |
Other comprehensive income (loss) before reclassifications | — |  |  | (3,995) |  |  | (3,995) |
Reclassified to pension cost and deferred tax | 4,907 |  |  | — |  |  | 4,907 |
Balance, September 27, 2019 | $ | (81,982) |  |  | $ | (61,963) |  |  | $ | (143,945) |
In connection with the Company's sale of its U.K.-based valve business (“Alco”) in July of 2020, $24 million of unrealized foreign currency translation losses recorded in accumulated other comprehensive income were reclassified to net earnings for the three and nine months ended September 25, 2020. A loss reserve liability of $24 million related to the unrealized foreign currency losses was previously recognized in the second quarter of 2020 with the impairment of Alco. This reserve liability was eliminated upon sale and offsets the impact of the foreign currency translation reclassification on net earnings. Amounts related to pension and postretirement medical adjustments are reclassified to non-service components of pension cost that are included within other non-operating expenses.

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- References No definition available. + Details
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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
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