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Accumulated Other Comprehensive Income (Loss) ("AOCI") | 9 Months Ended
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Oct. 07, 2017
Accumulated Other Comprehensive Income Loss Net Of Tax [Abstract] |
Accumulated Other Comprehensive Income (Loss) ("AOCI") | 6. ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (“AOCI”) The company’s total comprehensive income (loss) 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 forty weeks ended October 7, 2017 and October 8, 2016, reclassifications out of AOCI 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) |  | October 7, 2017 |  |  | October 8, 2016 |  |  | Where Net Income (Loss) is Presented
Gains and losses on cash flow hedges: |  |  |  |  |  |  |  |  |  |
Interest rate contracts |  | $ | (33 | ) |  | $ | (62 | ) |  | Interest expense
Commodity contracts |  |  | (571 | ) |  |  | (1,144 | ) |  | Cost of sales, Note 3
Total before tax |  |  | (604 | ) |  |  | (1,206 | ) |  | Total before tax
Tax benefit |  |  | 232 |  |  |  | 464 |  |  | Tax benefit
Total net of tax |  |  | (372 | ) |  |  | (742 | ) |  | Net of tax
Amortization of defined benefit pension items: |  |  |  |  |  |  |  |  |  |
Prior-service (cost) credits |  |  | (34 | ) |  |  | (47 | ) |  | Note 1
Settlement loss |  |  | (3,030 | ) |  |  | (1,832 | ) |  | Note 1
Actuarial losses |  |  | (1,251 | ) |  |  | (2,070 | ) |  | Note 1
Total before tax |  |  | (4,315 | ) |  |  | (3,949 | ) |  | Total before tax
Tax benefit |  |  | 1,662 |  |  |  | 1,520 |  |  | Tax benefit
Total net of tax |  |  | (2,653 | ) |  |  | (2,429 | ) |  | Net of tax
Total reclassifications |  | $ | (3,025 | ) |  | $ | (3,171 | ) |  | Net of tax
|  | Amount Reclassified from AOCI |  |  |
|  | For the Forty Weeks Ended |  |  | Affected Line Item in the Statement
Details about AOCI Components (Note 2) |  | October 7, 2017 |  |  | October 8, 2016 |  |  | Where Net Income (Loss) is Presented
Gains and losses on cash flow hedges: |  |  |  |  |  |  |  |  |  |
Interest rate contracts |  | $ | (110 | ) |  | $ | (197 | ) |  | Interest expense
Commodity contracts |  |  | (1,785 | ) |  |  | (4,174 | ) |  | Cost of sales, Note 3
Total before tax |  |  | (1,895 | ) |  |  | (4,371 | ) |  | Total before tax
Tax benefit |  |  | 729 |  |  |  | 1,683 |  |  | Tax benefit
Total net of tax |  |  | (1,166 | ) |  |  | (2,688 | ) |  | Net of tax
Amortization of defined benefit pension items: |  |  |  |  |  |  |  |  |  |
Prior-service (cost) credits |  |  | (128 | ) |  |  | (128 | ) |  | Note 1
Settlement loss |  |  | (3,030 | ) |  |  | (6,473 | ) |  | Note 1
Actuarial losses |  |  | (4,410 | ) |  |  | (4,779 | ) |  | Note 1
Total before tax |  |  | (7,568 | ) |  |  | (11,380 | ) |  | Total before tax
Tax benefit |  |  | 2,914 |  |  |  | 4,381 |  |  | Tax benefit
Total net of tax |  |  | (4,654 | ) |  |  | (6,999 | ) |  | Net of tax
Total reclassifications |  | $ | (5,820 | ) |  | $ | (9,687 | ) |  | Net of tax
Note 1: | These items are included in the computation of net periodic pension cost. See Note 15, Post-retirement Plans, for additional information.
Note 2: | Amounts in parentheses indicate debits to determine net income (loss).
Note 3: | Amounts are presented as an adjustment to reconcile net income (loss) to net cash provided by operating activities on the Condensed Consolidated Statements of Cash Flows.
During the forty weeks ended October 7, 2017, changes to AOCI, net of income tax, by component were as follows (amounts in thousands and parentheses denote a debit balance):
|  | Gains/Losses on Cash Flow Hedges |  |  | Defined Benefit Pension Plan Items |  |  | Total |
AOCI at December 31, 2016 |  | $ | (1,061 | ) |  | $ | (82,222 | ) |  | $ | (83,283 | )
Other comprehensive income before reclassifications |  |  | (5,932 | ) |  |  | (2,707 | ) |  |  | (8,639 | )
Reclassified to earnings from AOCI |  |  | 1,166 |  |  |  | 4,654 |  |  |  | 5,820 |
AOCI at October 7, 2017 |  | $ | (5,827 | ) |  | $ | (80,275 | ) |  | $ | (86,102 | )
During the forty weeks ended October 8, 2016, changes to AOCI, net of income tax, by component were as follows (amounts in thousands and parentheses denote a debit balance):
|  | Gains/Losses on Cash Flow Hedges |  |  | Defined Benefit Pension Plan Items |  |  | Total |
AOCI at January 2, 2016 |  | $ | (10,190 | ) |  | $ | (86,610 | ) |  | $ | (96,800 | )
Other comprehensive income before reclassifications |  |  | 2,496 |  |  |  | (38,121 | ) |  |  | (35,625 | )
Reclassified to earnings from AOCI |  |  | 2,688 |  |  |  | 6,999 |  |  |  | 9,687 |
AOCI at October 8, 2016 |  | $ | (5,006 | ) |  | $ | (117,732 | ) |  | $ | (122,738 | )
Amounts reclassified out of AOCI 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 loss reclassified from AOCI for our commodity contracts (amounts in thousands and positive value indicates debits to determine net income):
|  | For the Forty Weeks Ended |
|  | October 7, 2017 |  |  | October 8, 2016 |
Gross loss reclassified from AOCI into income |  | $ | 1,785 |  |  | $ | 4,174 |
Tax benefit |  |  | (687 | ) |  |  | (1,607 | )
Net of tax |  | $ | 1,098 |  |  | $ | 2,567 |

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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 -URI http://asc.fasb.org/topic&trid=2134417 + Details
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