XML 23 R11.htm IDEA: XBRL DOCUMENT
v3.10.0.1

Other Comprehensive Earnings (Loss) | 6 Months Ended
--- | ---
Jul. 01, 2018
Other Comprehensive Earnings (Loss) [Abstract] |
Other Comprehensive Earnings (Loss) | (5) Other Comprehensive Earnings (Loss) Components of other comprehensive earnings (loss) are presented within the consolidated statements of comprehensive earnings (loss). The following table presents the related tax effects on changes in other comprehensive earnings (loss) for the quarter and six-month periods ended July 1, 2018 and July 2, 2017.
|  | Quarter Ended |  | Six Months Ended
|  | July 1, |  | July 2, |  | July 1, |  | July 2,
|  | 2018 |  | 2017 |  | 2018 |  | 2017
Other comprehensive earnings (loss), tax effect: |  |  |  |  |  |  |  |  |  |  |
Tax (expense) benefit on unrealized holding gains (losses) | $ | (25) |  |  | (148) |  |  | 16 |  |  | (130)
Tax (expense) benefit on cash flow hedging activities |  | (5,669) |  |  | (1,074) |  |  | 311 |  |  | 4,236
Tax benefit on changes in unrecognized pension amounts |  | - |  |  | - |  |  | 7,565 |  |  | -
Reclassifications to earnings, tax effect: |  |  |  |  |  |  |  |  |  |  |
| Tax benefit on cash flow hedging activities |  | (114) |  |  | (640) |  |  | (908) |  |  | (1,009)
| Tax benefit on unrecognized pension and |  |  |  |  |  |  |  |  |  |  |
| postretirement amounts reclassified to the |  |  |  |  |  |  |  |  |  |  |
| consolidated statements of operations |  | (729) |  |  | (822) |  |  | (1,257) |  |  | (1,644)
Total tax effect on other comprehensive earnings (loss) | $ | (6,537) |  |  | (2,684) |  |  | 5,727 |  |  | 1,453
Changes in the components of accumulated other comprehensive earnings (loss) for the six months ended July 1, 2018 and July 2, 2017 are 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
2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at December 31, 2017 | $ | (110,971) |  |  | (32,827) |  |  | 1,034 |  |  | (96,661) |  |  | (239,425)
Adoption of ASU 2018-02 |  | (18,065) |  |  | (3,660) |  |  | 222 |  |  | - |  |  | (21,503)
Current period other comprehensive earnings (loss) |  | (21,726) |  |  | 25,432 |  |  | (56) |  |  | (37,798) |  |  | (34,148)
Balance at July 1, 2018 | $ | (150,762) |  |  | (11,055) |  |  | 1,200 |  |  | (134,459) |  |  | (295,076)
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)
At July 1, 2018, the Company had remaining net deferred gains on foreign currency forward c ontracts, net of tax, of $8,953 in accumulated other comprehensive loss ("AOCE"). These instruments hedge payments related to i nventory purchased in the second quarter of 2018 or forecasted to be purcha sed during the remainder of 2018 and, to a lesser extent, 2019 through 2022, intercompany expenses expected to be paid or received during 2018 and 2019, television and movie production costs paid in 2018 or expecte d to be paid in 2018 or 2019 and cash receipts for sal es made at the end of the second quarter 2018 or forecasted to be made in the remainder of 2018 and, to a lesser extent, 2019 through 2020. These amounts will be reclassified into the consolidated state ments of operations upon the 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 int erest rate method. At July 1, 2018, deferr ed losses, net of tax, of $20,0 08 related to these instruments remained in AOCE. For the quarter s ended July 1, 2018 and July 2, 2017, previously deferred losses of $449 and $450 were reclassified from AOCE to net earnings, respectively. For the six-month periods ended July 1, 2018 and July 2, 2017, previously deferred losses of $899 and $934 were reclassified from AOCE to net earnings, respectively. Of the amount included in AOCE at July 1, 2018, the Company expects net gains of approximately $6,028 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.

X
- References No definition available. + Details
Name: | us-gaap_ComprehensiveIncomeNetOfTaxAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 -URI http://asc.fasb.org/topic&trid=2134417 + Details
Name: | us-gaap_ComprehensiveIncomeNoteTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration