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Accumulated Other Comprehensive Income (Loss)

9 Months Ended

Jun. 29, 2024

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 June 29, 2024 are as follows:

						Accumulated foreign currency translation						Accumulated retirement liability						Accumulated gain (loss) on derivatives						Total
AOCIL at September 30, 2023						$	(140,486)					$	(113,605)					$	(518)					$	(254,609)
OCI before reclassifications						10,647						(224)						69						10,492
Amounts reclassified from AOCIL						(10)						6,134						449						6,573
OCI, net of tax						10,637						5,910						518						17,065
AOCIL at June 29, 2024						$	(129,849)					$	(107,695)					$	—					$	(237,544)

Net gains and losses on net investment hedges are recorded in Accumulated foreign currency translation 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						June 29, 2024						July 1, 2023						June 29, 2024						July 1, 2023
Retirement liability:
Prior service cost												$	14					$	14					$	42					$	41
Actuarial losses												2,659						2,884						7,977						8,643
Reclassification from AOCIL into earnings												2,673						2,898						8,019						8,684
Tax effect												(628)						(680)						(1,885)						(2,037)
Net reclassification from AOCIL into earnings												$	2,045					$	2,218					$	6,134					$	6,647
Derivatives:
Foreign currency contracts						Sales						$	—					$	—					$	—					$	517
Foreign currency contracts						Cost of sales						—						399						588						2,072
Reclassification from AOCIL into earnings												—						399						588						2,589
Tax effect												—						(94)						(139)						(587)
Net reclassification from AOCIL into earnings												$	—					$	305					$	449					$	2,002

Reclassification from AOCIL into earnings for the Retirement liability are included in the computation of non-service pension expense, which is included in Other on the Consolidated Condensed Statement of Earnings.

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

						Three Months Ended												Nine Months Ended
						June 29, 2024						July 1, 2023						June 29, 2024						July 1, 2023
Foreign currency contracts						$	—					$	(136)					$	90					$	1,551
Net gain (loss)						—						(136)						90						1,551
Tax effect						—						32						(21)						(353)
Net deferral in AOCIL of derivatives						$	—					$	(104)					$	69					$	1,198

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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://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(19))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(21))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(23))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/220/tableOfContent

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