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v3.23.3

Accumulated Other Comprehensive Income (Loss) (Tables) | 9 Months Ended
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Sep. 29, 2023
Equity [Abstract] |
Summary of Accumulated Other Comprehensive (Loss) | Following is a summary of AOCI(L) for the third quarter of 2023 and the third quarter of 2022:
(in thousands) |  | June 30, 2023 |  | Pre-tax Activity |  | Tax Effect |  | September 29, 2023
Net pension activity: |  |  |  |  |  |  |  |
Actuarial loss |  | $ | (72,626) |  |  | $ | 1,567 |  |  | $ | (384) |  |  | $ | (71,443) |
Prior service costs |  | (99) |  |  | 4 |  |  | (1) |  |  | (96) |
Pension plan settlement(1) |  | 30,041 |  |  | 77,319 |  |  | (36,202) |  |  | 71,158 |
Net postretirement benefits activity: |  |  |  |  |  |  |  |
Actuarial gain |  | 6,752 |  |  | — |  |  | — |  |  | 6,752 |
Prior service costs |  | (624) |  |  | — |  |  | — |  |  | (624) |
Reclassification of stranded tax effects(1) |  | (19,720) |  |  | — |  |  | 14,911 |  |  | (4,809) |
Total AOCI(L) |  | $ | (56,276) |  |  | $ | 78,890 |  |  | $ | (21,676) |  |  | $ | 938 |
(1)The stranded tax effect activity for the third quarter of 2023 is associated with the full settlement of the Primary Plan benefit liabilities.
(in thousands) |  | July 1, 2022 |  | Pre-tax Activity |  | Tax Effect |  | September 30, 2022
Net pension activity: |  |  |  |  |  |  |  |
Actuarial loss |  | $ | (77,391) |  |  | $ | 989 |  |  | $ | (243) |  |  | $ | (76,645) |
Prior service credits |  | 11 |  |  | — |  |  | — |  |  | 11 |
Net postretirement benefits activity: |  |  |  |  |  |  |  |
Actuarial loss |  | (1,101) |  |  | 92 |  |  | (23) |  |  | (1,032) |
Prior service costs |  | (624) |  |  | — |  |  | — |  |  | (624) |
Foreign currency translation adjustment |  | (9) |  |  | — |  |  | — |  |  | (9) |
Reclassification of stranded tax effects |  | (19,720) |  |  | — |  |  | — |  |  | (19,720) |
Total AOCI(L) |  | $ | (98,834) |  |  | $ | 1,081 |  |  | $ | (266) |  |  | $ | (98,019) |
Following is a summary of AOCI(L) for the first nine months of 2023 and the first nine months of 2022:
(in thousands) |  | December 31, 2022 |  | Pre-tax Activity |  | Tax Effect |  | September 29, 2023
Net pension activity: |  |  |  |  |  |  |  |
Actuarial loss |  | $ | (71,140) |  |  | $ | (401) |  |  | $ | 98 |  |  | $ | (71,443) |
Prior service costs |  | (105) |  |  | 12 |  |  | (3) |  |  | (96) |
Pension plan settlement |  | — |  |  | 117,096 |  |  | (45,938) |  |  | 71,158 |
Net postretirement benefits activity: |  |  |  |  |  |  |  |
Actuarial gain |  | 6,752 |  |  | — |  |  | — |  |  | 6,752 |
Prior service costs |  | (624) |  |  | — |  |  | — |  |  | (624) |
Reclassification of stranded tax effects |  | (19,720) |  |  | — |  |  | 14,911 |  |  | (4,809) |
Total AOCI(L) |  | $ | (84,837) |  |  | $ | 116,707 |  |  | $ | (30,932) |  |  | $ | 938 |
(in thousands) |  | December 31, 2021 |  | Pre-tax Activity |  | Tax Effect |  | September 30, 2022
Net pension activity: |  |  |  |  |  |  |  |
Actuarial loss |  | $ | (78,882) |  |  | $ | 2,966 |  |  | $ | (729) |  |  | $ | (76,645) |
Prior service credits |  | 11 |  |  | — |  |  | — |  |  | 11 |
Net postretirement benefits activity: |  |  |  |  |  |  |  |
Actuarial loss |  | (1,239) |  |  | 275 |  |  | (68) |  |  | (1,032) |
Prior service costs |  | (624) |  |  | — |  |  | — |  |  | (624) |
Foreign currency translation adjustment |  | (9) |  |  | — |  |  | — |  |  | (9) |
Reclassification of stranded tax effects |  | (19,720) |  |  | — |  |  | — |  |  | (19,720) |
Total AOCI(L) |  | $ | (100,463) |  |  | $ | 3,241 |  |  | $ | (797) |  |  | $ | (98,019) |

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