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Other Comprehensive Income | 3 Months Ended
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Mar. 28, 2020
Other Comprehensive Income (Loss), Net of Tax [Abstract] |
Other Comprehensive Income | Other Comprehensive Income The company reports changes in equity during a period, except those resulting from investments by owners and distributions to owners, in accordance with ASC 220, "Comprehensive Income". Changes in accumulated other comprehensive income(1) were as follows (in thousands):
| Currency Translation Adjustment |  | Pension Benefit Costs |  | Unrealized Gain/(Loss) Interest Rate Swap |  | Total
Balance as of December 28, 2019 | $ | (105,705 | ) |  | $ | (228,336 | ) |  | $ | (16,892 | ) |  | $ | (350,933 | )
Other comprehensive income before reclassification | (48,916 | ) |  | 14,808 |  |  | (23,952 | ) |  | (58,060 | )
Amounts reclassified from accumulated other comprehensive income | — |  |  | — |  |  | (1,267 | ) |  | (1,267 | )
Net current-period other comprehensive income | $ | (48,916 | ) |  | $ | 14,808 |  |  | $ | (25,219 | ) |  | $ | (59,327 | )
Balance as of March 28, 2020 | $ | (154,621 | ) |  | $ | (213,528 | ) |  | $ | (42,111 | ) |  | $ | (410,260 | )
Balance as of December 29, 2018 | $ | (112,771 | ) |  | $ | (170,938 | ) |  | $ | 7,233 |  |  | $ | (276,476 | )
Adoption of ASU 2017-12 (2) | — |  |  | — |  |  | 11 |  |  | 11 |
Other comprehensive income before reclassification | 10,683 |  |  | (5,263 | ) |  | (10,144 | ) |  | (4,724 | )
Amounts reclassified from accumulated other comprehensive income | — |  |  | — |  |  | 766 |  |  | 766 |
Net current-period other comprehensive income | $ | 10,683 |  |  | $ | (5,263 | ) |  | $ | (9,367 | ) |  | $ | (3,947 | )
Balance as of March 30, 2019 | $ | (102,088 | ) |  | $ | (176,201 | ) |  | $ | (2,134 | ) |  | $ | (280,423 | )
(1) As of March 28, 2020, pension and interest rate swap amounts are net of tax of $(45.5) million and $(15.3) million, respectively. During the three months ended March 28, 2020, the adjustments to pension benefit costs and unrealized gain/(loss) interest rate swap were net of tax of $3.1 million and $(9.3) million, respectively. As of March 30, 2019 pension and interest rate swap amounts are net of tax of $(38.1) million and $(0.6) million, respectively. During the three months ended March 30, 2019, the adjustments to pension benefit costs and unrealized gain/(loss) interest rate swap were net of tax of $(1.4) million and $(3.2) million, respectively. (2) As of December 30, 2018, the company adopted ASU No. 2017-12, "Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities" using the modified retrospective method. The adoption of this guidance resulted in the recognition of less than $(0.1) million as an adjustment to the opening balance of retained earnings. Components of other comprehensive income were as follows (in thousands):
| Three Months Ended
| Mar 28, 2020 |  | Mar 30, 2019
Net earnings | $ | 73,779 |  |  | $ | 69,013 |
Currency translation adjustment | (48,916 | ) |  | 10,683 |
Pension liability adjustment, net of tax | 14,808 |  |  | (5,263 | )
Unrealized gain on interest rate swaps, net of tax | (25,219 | ) |  | (9,367 | )
Comprehensive income | $ | 14,452 |  |  | $ | 65,066 |

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -URI http://asc.fasb.org/topic&trid=2134417 + Details
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- References No definition available. + Details
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