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Accumulated Other Comprehensive Income (Loss)

9 Months Ended

Jul. 03, 2021

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Accumulated Other Comprehensive Income (Loss)

Accumulated Other Comprehensive Income (Loss)

The changes in AOCIL, net of tax, by component for the nine months ended July 3, 2021 are as follows:

						Accumulated foreign currency translation (1)						Accumulated retirement liability						Accumulated gain (loss) on derivatives						Total
AOCIL at October 3, 2020						$	(102,994)					$	(183,653)					$	1,194					$	(285,453)
Other comprehensive income before reclassifications						27,650						4,238						(65)						31,823
Amounts reclassified from AOCIL						(2,539)						4,939						(1,270)						1,130
Other comprehensive income (loss), net of tax						25,111						9,177						(1,335)						32,953
AOCIL at July 3, 2021						$	(77,883)					$	(174,476)					$	(141)					$	(252,500)

(1)Net gains and losses on net investment hedges are recorded as cumulative translation adjustments in AOCIL to the extent that the instruments are effective in hedging the designated risk.

The amounts reclassified from AOCIL into earnings are as follows:

												Three Months Ended												Nine Months Ended
						Statements of Earnings location						July 3, 2021						June 27, 2020						July 3, 2021						June 27, 2020
Retirement liability:
Prior service cost (credit)												$	16					$	(33)					$	30					$	(96)
Actuarial losses												4,707						7,405						14,101						22,187
Curtailment (gain) loss												—						100						(5,830)						100
Settlement loss												—						537						—						537
Reclassification from AOCIL into earnings (2)												4,723						8,009						8,301						22,728
Tax effect												(1,123)						(1,915)						(3,362)						(5,438)
Net reclassification from AOCIL into earnings												$	3,600					$	6,094					$	4,939					$	17,290
Derivatives:
Foreign currency contracts						Sales						$	(178)					$	127					$	(230)					$	134
Foreign currency contracts						Cost of sales						(313)						(162)						(1,418)						(396)
Interest rate swaps						Interest						—						40						—						(1)
Reclassification from AOCIL into earnings												(491)						5						(1,648)						(263)
Tax effect												107						6						378						69
Net reclassification from AOCIL into earnings												$	(384)					$	11					$	(1,270)					$	(194)

(2)The reclassifications are included in the computation of non-service pension expense, which is included in Other on the Consolidated Condensed Statement of Earnings (Loss).

The effective portion of amounts deferred in AOCIL are as follows:

						Three Months Ended												Nine Months Ended
						July 3, 2021						June 27, 2020						July 3, 2021						June 27, 2020
Foreign currency contracts						$	(451)					$	725					$	(103)					$	1,357
Interest rate swaps						—						(7)						—						(47)
Net gain (loss)						(451)						718						(103)						1,310
Tax effect						104						(172)						38						(320)
Net deferral in AOCIL of derivatives						$	(347)					$	546					$	(65)					$	990

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- References

No definition available.

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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

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(21))
-URI http://asc.fasb.org/extlink&oid=123367319&loc=SL114868664-224227

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(23))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(19))
-URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

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