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Other Comprehensive Earnings (Loss) | 6 Months Ended
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Jul. 02, 2017
Other Comprehensive Earnings (Loss) [Abstract] |
Other Comprehensive Earnings (Loss) | (3) Other Comprehensive Earnings (Loss) Components of other comprehensive earnings (loss) are presented within the consolidated statements of comprehensive earnings. The following table presents the related tax effects on changes in other comprehensive earnings (loss) for the quarter and six-month periods ended July 2, 2017 and June 26, 2016.
|  | Quarter Ended |  | Six Months Ended
|  | July 2, |  | June 26, |  | July 2, |  | June 26,
|  | 2017 |  | 2016 |  | 2017 |  | 2016
Other comprehensive earnings (loss), tax effect: |  |  |  |  |  |  |  |  |  |  |
Tax (expense) benefit on cash flow hedging activities | $ | (1,074) |  |  | 4,747 |  |  | 4,236 |  |  | 8,003
Tax (expense) benefit on unrealized holding gains (losses) |  | (148) |  |  | 185 |  |  | (130) |  |  | (768)
Reclassifications to earnings, tax effect: |  |  |  |  |  |  |  |  |  |  |
| Tax expense (benefit) on cash flow hedging activities |  | (640) |  |  | 1,069 |  |  | (1,009) |  |  | 2,818
| Tax benefit on unrecognized pension and |  |  |  |  |  |  |  |  |  |  |
| postretirement amounts reclassified to the |  |  |  |  |  |  |  |  |  |  |
| consolidated statements of operations |  | (822) |  |  | (666) |  |  | (1,644) |  |  | (1,333)
Total tax effect on other comprehensive earnings (loss) | $ | (2,684) |  |  | 5,335 |  |  | 1,453 |  |  | 8,720
Changes in the components of accumulated other comprehensive loss for the quarters ended July 2, 2017 and June 26, 2016 a re as follows:
|  |  |  |  |  |  | Unrealized |  |  |  |  |  |
|  |  |  |  |  |  | Holding |  |  |  |  | Total
|  |  |  | Gains |  | Gains on |  | Foreign |  | Accumulated
| Pension and |  | (Losses) on |  | Available- |  | Currency |  | Other
| Postretirement |  | Derivative |  | for-Sale |  | Translation |  | Comprehensive
| Amounts |  | Instruments |  | Securities |  | Adjustments |  | Loss
2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at December 25, 2016 | $ | (118,401) |  |  | 51,085 |  |  | 1,424 |  |  | (128,678) |  |  | (194,570)
Current period other comprehensive earnings (loss) |  | 2,897 |  |  | (63,981) |  |  | 229 |  |  | 28,812 |  |  | (32,043)
Balance at July 2, 2017 | $ | (115,504) |  |  | (12,896) |  |  | 1,653 |  |  | (99,866) |  |  | (226,613)
2016 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at December 27, 2015 | $ | (102,931) |  |  | 79,317 |  |  | 1,258 |  |  | (123,645) |  |  | (146,001)
Current period other comprehensive earnings (loss) |  | 2,350 |  |  | (51,968) |  |  | 1,353 |  |  | 19,965 |  |  | (28,300)
Balance at June 26, 2016 | $ | (100,581) |  |  | 27,349 |  |  | 2,611 |  |  | (103,680) |  |  | (174,301)
At July 2, 2017, the Company had remaining net deferred gains on foreign currency forward c ontracts, net of tax, of $4,724 in accumulated other comprehensive loss ("AOCE"). These instruments hedge payments related to i nventory purchased in the second quarter of 2017 or forecasted to be purcha sed during the remainder of 2017 and, to a lesser extent, 2018 through 2021, intercompany expenses expected to be paid or received during 2017 and 2018, cash receipts for sal es made at the end of the second quarter of 2017 or forecasted to be made in the remainder of 2017 and, to a lesser extent, 2018 through 2019. These amounts will be reclassified into the consolidated statements of operations upon t he sale of the related inventory or recognition of the related sales or expenses. In addition to foreign currency forward contracts, the Company entered into hedging contracts on future interest payments related to the long-term notes due 2021 and 2044. At the date of debt issuance, these contracts were terminated and the fair value on the date of settlement was deferred in AOCE and is being amortized to interest expense over the life of the related notes using the effective interest rate method. At July 2, 2017, deferr ed losses, net of tax of $17,620 related to these instruments remained in AOCE. For the quarter s ended July 2, 2017 and June 26, 2016, previously deferred losses of $450 were reclassified from AOCE to net earnings. For the six month periods ended July 2, 2017 and June 26, 2016, previously deferred losses of $934 and $899 were reclassified from AOCE to net earnings, respectively. Of the amount included in AOCE at July 2, 2017, the Company expects n et losses of approximately $8,476 to be reclassified to the consolidated statements of operations within the next 12 months. However, the amount ultimately realized in earnings is dependent on the fair value of the hedging instruments on the settlement dates.

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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 15 -URI http://asc.fasb.org/extlink&oid=66004124&loc=d3e689-108580 Reference 2: 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=66004124&loc=SL7669619-108580 Reference 3: 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=66004124&loc=d3e640-108580 Reference 4: 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=66004124&loc=d3e716-108580 Reference 5: 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=66004124&loc=d3e709-108580 Reference 6: 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 7: 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=66004124&loc=d3e637-108580 Reference 8: 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=66004124&loc=d3e681-108580 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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