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STOCKHOLDERS' EQUITY | 9 Months Ended
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Sep. 29, 2019
Equity [Abstract] |
STOCKHOLDERS' EQUITY | STOCKHOLDERS' EQUITY Accumulated Other Comprehensive Loss The following tables provide information regarding the changes in accumulated other comprehensive loss:
| Thirty-Nine Weeks Ended September 29, 2019(a)
| Losses Related to Foreign Currency Translation |  | Unrealized Losses on Derivative Financial Instruments Classified as Cash Flow Hedges |  | Losses Related to Pension and Other Postretirement Benefits |  | Unrealized Holding Gains on Available-for-Sale Securities |  | Total
| (In thousands)
Balance, beginning of period | $ | (55,770 | ) |  | $ | (683 | ) |  | $ | (71,463 | ) |  | $ | 82 |  |  | $ | (127,834 | )
Other comprehensive income (loss) before reclassifications | (50,824 | ) |  | (1,257 | ) |  | (6,962 | ) |  | 383 |  |  | (58,660 | )
Amounts reclassified from accumulated other comprehensive income (loss) to net income | — |  |  | 74 |  |  | 745 |  |  | (353 | ) |  | 466 |
Currency translation | — |  |  | (12 | ) |  | — |  |  | — |  |  | (12 | )
Net current period other comprehensive income (loss) | (50,824 | ) |  | (1,195 | ) |  | (6,217 | ) |  | 30 |  |  | (58,206 | )
Balance, end of period | $ | (106,594 | ) |  | $ | (1,878 | ) |  | $ | (77,680 | ) |  | $ | 112 |  |  | $ | (186,040 | )
| Thirty-Nine Weeks Ended September 30, 2018(a)
| Losses Related to Foreign Currency Translation |  | Unrealized Losses on Derivative Financial Instruments Classified as Cash Flow Hedges |  | Losses Related to Pension and Other Postretirement Benefits |  | Unrealized Holding Gains on Available-for-Sale Securities |  | Total
| (In thousands)
Balance, beginning of period | $ | 42,081 |  |  | $ | (1,848 | ) |  | $ | (71,434 | ) |  | $ | 61 |  |  | $ | (31,140 | )
Other comprehensive income (loss) before reclassifications | (58,892 | ) |  | 33 |  |  | 5,415 |  |  | 985 |  |  | (52,459 | )
Amounts reclassified from accumulated other comprehensive income (loss) to net income | — |  |  | 329 |  |  | 683 |  |  | (956 | ) |  | 56 |
Currency translation | — |  |  | (5 | ) |  | — |  |  | — |  |  | (5 | )
Net current period other comprehensive income (loss) | (58,892 | ) |  | 357 |  |  | 6,098 |  |  | 29 |  |  | (52,408 | )
Balance, end of period | $ | (16,811 | ) |  | $ | (1,491 | ) |  | $ | (65,336 | ) |  | $ | 90 |  |  | $ | (83,548 | )
(a) | All amounts are net of tax. Amounts in parentheses indicate debits to accumulated other comprehensive income (loss).
|  | Amounts Reclassified from Accumulated Other Comprehensive Loss(a) |  |
Details about Accumulated Other Comprehensive Loss Components |  | Thirty-Nine Weeks Ended September 29, 2019 |  | Thirty-Nine Weeks Ended September 30, 2018 |  | Affected Line Item in the Condensed Consolidated Statements of Income
|  | (In thousands) |  |
Realized loss on derivative financial instruments classified as cash flow hedges |  | $ | (74 | ) |  | $ | (329 | ) |  | Cost of sales
Realized gain on sale of securities |  | 466 |  |  | 1,263 |  |  | Interest income
Amortization of defined benefit pension and other postretirement plan actuarial losses: |  |  |  |  |  |
Union employees pension plan(b)(d) |  | (54 | ) |  | (36 | ) |  | Miscellaneous, net
Legacy GK plans-production employees(c)(d) |  | (290 | ) |  | (270 | ) |  | Miscellaneous, net
Legacy GK plans-administrative employees(c)(d) |  | (640 | ) |  | (596 | ) |  | Miscellaneous, net
Total before tax |  | (592 | ) |  | 32 |  |  |
Tax benefit (expense) |  | 126 |  |  | (88 | ) |  |
Total reclassification for the period |  | $ | (466 | ) |  | $ | (56 | ) |  |
(a) | Amounts in parentheses represent debits to results of operations.
(b) | The Company sponsors the Union Plan, a qualified defined benefit pension plan covering certain locations or work groups with collective bargaining agreements.
(c) | The Company sponsors the GK Pension Plan, a qualified defined benefit pension plan covering certain eligible U.S. employees who were employed at locations that the Company purchased through its acquisition of Gold Kist in 2007, the SERP Plan, a nonqualified defined benefit retirement plan covering certain former Gold Kist executives, the Directors’ Emeriti Plan, a nonqualified defined benefit retirement plan covering certain former Gold Kist directors and the Retiree Life Plan, a defined benefit postretirement life insurance plan covering certain retired Gold Kist employees (collectively, the “Legacy GK Plans”).
(d) | These accumulated other comprehensive loss components are included in the computation of net periodic pension cost. See “Note 14. Pension and Other Postretirement Benefits” to the Condensed Consolidated Financial Statements.
Share Repurchase Program and Treasury Stock On October 31, 2018, the Company’s Board of Directors approved a $200.0 million share repurchase authorization. The Company plans to repurchase shares through various means, which may include but are not limited to open market purchases, privately negotiated transactions, the use of derivative instruments and/or accelerated share repurchase programs. The extent to which the Company repurchases its shares, if at all, and the timing of any such repurchases will vary and depend upon market conditions and other corporate considerations, as determined by the Company’s management team. The Company reserves the right to limit or terminate the repurchase program at any time without notice. The Company will account for any shares repurchased using the cost method. The Company currently plans to maintain any repurchased shares as treasury stock. As of September 29, 2019, the Company had repurchased approximately 132,000 shares under this program with a market value at the time of purchase of approximately $3.1 million. Restrictions on Dividends Both the U.S. Credit Facility and the indentures governing the Company’s senior notes restrict, but do not prohibit, the Company from declaring dividends. The Moy Park Bank of Ireland Revolving Facility Agreement restrict Moy Park's ability and the ability of certain of Moy Park's subsidiaries to, among other things, make payments and distributions to the Company.

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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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