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Other Comprehensive Income | 6 Months Ended
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Jun. 29, 2019
Equity [Abstract] |
Other Comprehensive Income | Other Comprehensive Income/(Loss) The Company follows FASB authoritative guidance for reporting and presentation of comprehensive income/(loss) and its components. Other comprehensive income/(loss) is derived from adjustments that reflect pension adjustments, natural gas swap adjustments, corn option adjustments, foreign exchange forward adjustments and foreign currency translation adjustments. In the first six months of fiscal 2019, the Company's DGD Joint Venture entered into heating oil derivatives that were deemed to be cash flow hedges. As a result, the Company has accrued the other comprehensive income/(loss) portion belonging to Darling with an offset to the investment in DGD. The components of other comprehensive income (loss) and the related tax impacts for the three and six months ended June 29, 2019 and June 30, 2018 are as follows (in thousands):
| Three Months Ended
| Before-Tax | Tax (Expense) | Net-of-Tax
| Amount | or Benefit | Amount
| June 29, 2019 | June 30, 2018 | June 29, 2019 | June 30, 2018 | June 29, 2019 | June 30, 2018
Defined benefit pension plans |  |  |  |  |  |
Amortization of prior service cost/(benefit) | $ | 9 |  | $ | 8 |  | $ | (2 | ) | $ | (1 | ) | $ | 7 |  | $ | 7 |
Amortization of actuarial loss | 1,147 |  | 888 |  | (295 | ) | (229 | ) | 852 |  | 659 |
Total defined benefit pension plans | 1,156 |  | 896 |  | (297 | ) | (230 | ) | 859 |  | 666 |
Natural gas swap derivatives |  |  |  |  |  |
Loss/(gain) reclassified to net income | — |  | — |  | — |  | 1 |  | — |  | 1 |
Gain/(loss) activity recognized in other comprehensive income/(loss) | — |  | (1 | ) | — |  | — |  | — |  | (1 | )
Total natural gas swap derivatives | — |  | (1 | ) | — |  | 1 |  | — |  | — |
Corn option derivatives |  |  |  |  |  |
Loss/(gain) reclassified to net income | (37 | ) | (323 | ) | 10 |  | 84 |  | (27 | ) | (239 | )
Gain/(loss) activity recognized in other comprehensive income/(loss) | 67 |  | 925 |  | (18 | ) | (239 | ) | 49 |  | 686 |
Total corn option derivatives | 30 |  | 602 |  | (8 | ) | (155 | ) | 22 |  | 447 |
Heating oil derivatives |  |  |  |  |  |
Gain/(loss) activity recognized in other comprehensive income/(loss) | 2,874 |  | — |  | (741 | ) | — |  | 2,133 |  | — |
Total heating oil derivatives | 2,874 |  | — |  | (741 | ) | — |  | 2,133 |  | — |
Foreign exchange derivatives |  |  |  |  |  |
Loss/(gain) reclassified to net income | 287 |  | — |  | (111 | ) | — |  | 176 |  | — |
Gain/(loss) activity recognized in other comprehensive income/(loss) | 1,854 |  | — |  | (579 | ) | — |  | 1,275 |  | — |
Total foreign exchange derivatives | 2,141 |  | — |  | (690 | ) | — |  | 1,451 |  | — |
Foreign currency translation | 16,652 |  | (77,953 | ) | (326 | ) | 1,116 |  | 16,326 |  | (76,837 | )
Other comprehensive income/(loss) | $ | 22,853 |  | $ | (76,456 | ) | $ | (2,062 | ) | $ | 732 |  | $ | 20,791 |  | $ | (75,724 | )
| Six Months Ended
| Before-Tax | Tax (Expense) | Net-of-Tax
| Amount | or Benefit | Amount
| June 29, 2019 | June 30, 2018 | June 29, 2019 | June 30, 2018 | June 29, 2019 | June 30, 2018
Defined benefit pension plans |  |  |  |  |  |
Amortization of prior service cost/(benefit) | $ | 18 |  | $ | 17 |  | $ | (5 | ) | $ | (4 | ) | $ | 13 |  | $ | 13 |
Amortization of actuarial loss | 2,293 |  | 1,776 |  | (589 | ) | (456 | ) | 1,704 |  | 1,320 |
Total defined benefit pension plans | 2,311 |  | 1,793 |  | (594 | ) | (460 | ) | 1,717 |  | 1,333 |
Natural gas swap derivatives |  |  |  |  |  |
Loss/(gain) reclassified to net income | — |  | 14 |  | — |  | (3 | ) | — |  | 11 |
Gain/(loss) activity recognized in other comprehensive income/(loss) | — |  | 15 |  | — |  | (4 | ) | — |  | 11 |
Total natural gas swap derivatives | — |  | 29 |  | — |  | (7 | ) | — |  | 22 |
Corn option derivatives |  |  |  |  |  |
Loss/(gain) reclassified to net income | (37 | ) | (991 | ) | 10 |  | 257 |  | (27 | ) | (734 | )
Gain/(loss) activity recognized in other comprehensive income/(loss) | 67 |  | (572 | ) | (18 | ) | 148 |  | 49 |  | (424 | )
Total corn option derivatives | 30 |  | (1,563 | ) | (8 | ) | 405 |  | 22 |  | (1,158 | )
Heating oil derivatives |  |  |  |  |  |
Gain/(loss) activity recognized in other comprehensive income/(loss) | 2,874 |  | — |  | (741 | ) | — |  | 2,133 |  | — |
Total heating oil derivatives | 2,874 |  | — |  | (741 | ) | — |  | 2,133 |  | — |
Foreign exchange derivatives |  |  |  |  |  |
Loss/(gain) reclassified to net income | 287 |  | — |  | (111 | ) | — |  | 176 |  | — |
Gain/(loss) activity recognized in other comprehensive income/(loss) | (1,080 | ) | — |  | 418 |  | — |  | (662 | ) | — |
Total foreign exchange derivatives | (793 | ) | — |  | 307 |  | — |  | (486 | ) | — |
Foreign currency translation | 11,259 |  | (60,658 | ) | 181 |  | 1,116 |  | 11,440 |  | (59,542 | )
Other comprehensive income/(loss) | $ | 15,681 |  | $ | (60,399 | ) | $ | (855 | ) | $ | 1,054 |  | $ | 14,826 |  | $ | (59,345 | )
The following table presents the amounts reclassified out of each component of other comprehensive income (loss), net of tax for the three and six months ended June 29, 2019 and June 30, 2018 as follows (in thousands):
| Three Months Ended | Six Months Ended |
| June 29, 2019 | June 30, 2018 | June 29, 2019 | June 30, 2018 | Statement of Operations Classification
Derivative instruments |  |  |  |  |
Foreign exchange contracts | $ | (287 | ) | $ | — |  | $ | (287 | ) | $ | — |  | Net sales
Natural gas swap derivatives | — |  | — |  | — |  | (14 | ) | Cost of sales and operating expenses
Corn option derivatives | 37 |  | 323 |  | 37 |  | 991 |  | Cost of sales and operating expenses
| (250 | ) | 323 |  | (250 | ) | 977 |  | Total before tax
| 101 |  | (84 | ) | 101 |  | (254 | ) | Income taxes
| (149 | ) | 239 |  | (149 | ) | 723 |  | Net of tax
Defined benefit pension plans |  |  |  |  |
Amortization of prior service cost | $ | (9 | ) | $ | (8 | ) | $ | (18 | ) | $ | (17 | ) | (a)
Amortization of actuarial loss | (1,147 | ) | (888 | ) | (2,293 | ) | (1,776 | ) | (a)
| (1,156 | ) | (896 | ) | (2,311 | ) | (1,793 | ) | Total before tax
| 297 |  | 230 |  | 594 |  | 460 |  | Income taxes
| (859 | ) | (666 | ) | (1,717 | ) | (1,333 | ) | Net of tax
Total reclassifications | $ | (1,008 | ) | $ | (427 | ) | $ | (1,866 | ) | $ | (610 | ) | Net of tax
(a) | These items are included in the computation of net periodic pension cost. See Note 14 Employee Benefit Plans for additional information.
The following table presents changes in each component of accumulated other comprehensive income/(loss) as of June 29, 2019 as follows (in thousands):
|  | Six Months Ended June 29, 2019
|  | Foreign Currency | Derivative | Defined Benefit |
|  | Translation | Instruments | Pension Plans | Total
Accumulated Other Comprehensive Income/(loss) December 29, 2018, attributable to Darling, net of tax |  | $ | (270,081 | ) | $ | 1,081 |  | $ | (35,539 | ) | $ | (304,539 | )
Other comprehensive gain/(loss) before reclassifications |  | 11,440 |  | 1,520 |  | — |  | 12,960 |
Amounts reclassified from accumulated other comprehensive income/(loss) |  | — |  | 149 |  | 1,717 |  | 1,866 |
Net current-period other comprehensive income/(loss) |  | 11,440 |  | 1,669 |  | 1,717 |  | 14,826 |
Noncontrolling interest |  | 288 |  | — |  | — |  | 288 |
Accumulated Other Comprehensive Income/(loss) June 29, 2019, attributable to Darling, net of tax |  | (258,929 | ) | $ | 2,750 |  | $ | (33,822 | ) | $ | (290,001 | )

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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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