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ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (AOCI) | 6 Months Ended
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Jul. 18, 2015
Equity [Abstract] |
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (AOCI) | 3. ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (“AOCI”) The company’s total comprehensive income presently consists of net income, adjustments for our derivative financial instruments accounted for as cash flow hedges, and various pension and other postretirement benefit related items. During the twelve and twenty-eight weeks ended July 18, 2015 and July 12, 2014, reclassifications out of accumulated other comprehensive loss were as follows (amounts in thousands):
|  | Amount Reclassified from AOCI |  |  |
|  | For the Twelve Weeks Ended |  |  | Affected Line Item in the Statement
Details about AOCI Components (Note 2) |  | July 18, 2015 |  |  | July 12, 2014 |  |  | Where Net Income is Presented
Gains and losses on cash flow hedges: |  |  |  |  |  |  |  |  |  |
Interest rate contracts |  | $ | (57 | ) |  | $ | (57 | ) |  | Interest income (expense)
Commodity contracts |  |  | (1,977 | ) |  |  | (661 | ) |  | Cost of sales, Note 3
Total before tax |  |  | (2,034 | ) |  |  | (718 | ) |  | Total before tax
Tax benefit |  |  | 783 |  |  |  | 276 |  |  | Tax benefit
Total net of tax |  |  | (1,251 | ) |  |  | (442 | ) |  | Net of tax
Amortization of defined benefit pension items: |  |  |  |  |  |  |  |  |  |
Prior-service credits |  |  | 108 |  |  |  | 108 |  |  | Note 1, below
Actuarial losses |  |  | (1,014 | ) |  |  | (311 | ) |  | Note 1, below
Total before tax |  |  | (906 | ) |  |  | (203 | ) |  | Total before tax
Tax benefit |  |  | 349 |  |  |  | 79 |  |  | Tax benefit
Total net of tax |  |  | (557 | ) |  |  | (124 | ) |  | Net of tax
Total reclassifications |  | $ | (1,808 | ) |  | $ | (566 | ) |  | Net of tax
|  | Amount Reclassified from AOCI |  |  |
|  | For the Twenty-Eight Weeks Ended |  |  | Affected Line Item in the Statement
Details about AOCI Components (Note 2) |  | July 18, 2015 |  |  | July 12, 2014 |  |  | Where Net Income is Presented
Gains and losses on cash flow hedges: |  |  |  |  |  |  |  |  |  |
Interest rate contracts |  | $ | (135 | ) |  | $ | (135 | ) |  | Interest income (expense)
Commodity contracts |  |  | (4,481 | ) |  |  | (5,578 | ) |  | Cost of sales, Note 3
Total before tax |  |  | (4,616 | ) |  |  | (5,713 | ) |  | Total before tax
Tax benefit |  |  | 1,778 |  |  |  | 2,199 |  |  | Tax benefit
Total net of tax |  |  | (2,838 | ) |  |  | (3,514 | ) |  | Net of tax
Amortization of defined benefit pension items: |  |  |  |  |  |  |  |  |  |
Prior-service credits |  |  | 252 |  |  |  | 252 |  |  | Note 1, below
Actuarial losses |  |  | (2,366 | ) |  |  | (725 | ) |  | Note 1, below
Total before tax |  |  | (2,114 | ) |  |  | (473 | ) |  | Total before tax
Tax benefit |  |  | 814 |  |  |  | 183 |  |  | Tax benefit
Total net of tax |  |  | (1,300 | ) |  |  | (290 | ) |  | Net of tax
Total reclassifications |  | $ | (4,138 | ) |  | $ | (3,804 | ) |  | Net of tax
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Note 1: | These items are included in the computation of net periodic pension cost. See Note 13, Postretirement Plans, for additional information.
Note 2: | Amounts in parentheses indicate debits to determine net income.
Note 3: | Amounts are presented as an adjustment to reconcile net income to net cash provided by operating activities on the Condensed Consolidated Statements of Cash Flows.
During the twenty-eight weeks ended July 18, 2015, changes to accumulated other comprehensive loss, net of income tax, by component were as follows (amounts in thousands):
|  | Gains/Losses on Cash Flow Hedges |  |  | Defined Benefit Pension Plan Items |  |  | Total |
Accumulated other comprehensive loss, January 3, 2015 |  | $ | (11,408 | ) |  | $ | (86,612 | ) |  | $ | (98,020 | )
Other comprehensive income before reclassifications |  |  | 1,390 |  |  |  | — |  |  |  | 1,390 |
Reclassified to earnings from accumulated other comprehensive loss |  |  | 2,838 |  |  |  | 1,300 |  |  |  | 4,138 |
Accumulated other comprehensive loss, July 18, 2015 |  | $ | (7,180 | ) |  | $ | (85,312 | ) |  | $ | (92,492 | )
During the twenty-eight weeks ended July 12, 2014, changes to accumulated other comprehensive loss, net of income tax, by component were as follows (amounts in thousands):
|  | Gains/Losses on Cash Flow Hedges |  |  | Defined Benefit Pension Plan Items |  |  | Total |
Accumulated other comprehensive loss, December 28, 2013 |  | $ | (11,416 | ) |  | $ | (51,099 | ) |  | $ | (62,515 | )
Other comprehensive income before reclassifications |  |  | (900 | ) |  |  | — |  |  |  | (900 | )
Reclassified to earnings from accumulated other comprehensive loss |  |  | 3,514 |  |  |  | 290 |  |  |  | 3,804 |
Accumulated other comprehensive loss, July 12, 2014 |  | $ | (8,802 | ) |  | $ | (50,809 | ) |  | $ | (59,611 | )
Amounts reclassified out of accumulated other comprehensive loss to net income that relate to commodity contracts are presented as an adjustment to reconcile net income to net cash provided by operating activities on the Condensed Consolidated Statements of Cash Flows. The following table presents the net of tax amount of the gain or loss reclassified from accumulated other comprehensive income (“AOCI”) for our commodity contracts (amounts in thousands):
|  | For the Twenty-Eight Weeks Ended |
|  | July 18, 2015 |  |  | July 12, 2014 |
Gross loss reclassified from AOCI into income |  | $ | 4,481 |  |  | $ | 5,578 |
Tax benefit |  |  | (1,725 | ) |  |  | (2,146 | )
Net of tax |  | $ | 2,756 |  |  | $ | 3,432 |

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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/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e689-108580 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=36458714&loc=SL7669619-108580 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e640-108580 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 17 -URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e716-108580 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 16 -URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e709-108580 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e637-108580 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 14 -URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e681-108580 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Reclassification Adjustments -URI http://asc.fasb.org/extlink&oid=6522872 + Details
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