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Accumulated Other Comprehensive Income ("AOCI") (Tables) | 9 Months Ended
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Oct. 03, 2020
Accumulated Other Comprehensive Income Loss Net Of Tax [Abstract] |
Summary of Reclassifications Out of AOCI | During the twelve and forty weeks ended October 3, 2020 and October 5, 2019, 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 3, 2020 |  |  | October 5, 2019 |  |  | Where Net Income is Presented
Gains and losses on cash flow hedges: |  |  |  |  |  |  |  |  |  |
Interest rate contracts |  | $ | (33 | ) |  | $ | (33 | ) |  | Interest expense
Commodity contracts |  |  | (869 | ) |  |  | (313 | ) |  | Cost of sales, Note 3
Total before tax |  |  | (902 | ) |  |  | (346 | ) |  | Total before tax
Tax benefit |  |  | 225 |  |  |  | 87 |  |  | Income tax expense
Total net of tax |  |  | (677 | ) |  |  | (259 | ) |  | Net of tax
Amortization of defined benefit pension items: |  |  |  |  |  |  |  |  |  |
Prior-service costs |  |  | (12 | ) |  |  | (80 | ) |  | Note 1
Settlement gain |  |  | 7,153 |  |  |  | — |  |  | Note 1
Actuarial losses |  |  | (57 | ) |  |  | (1,574 | ) |  | Note 1
Total before tax |  |  | 7,084 |  |  |  | (1,654 | ) |  | Total before tax
Tax (expense) benefit |  |  | (1,771 | ) |  |  | 418 |  |  | Income tax expense
Total net of tax |  |  | 5,313 |  |  |  | (1,236 | ) |  | Net of tax
Total reclassifications |  | $ | 4,636 |  |  | $ | (1,495 | ) |  | 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 3, 2020 |  |  | October 5, 2019 |  |  | Where Net Income is Presented
Gains and losses on cash flow hedges: |  |  |  |  |  |  |  |  |  |
Interest rate contracts |  | $ | (110 | ) |  | $ | (110 | ) |  | Interest expense
Commodity contracts |  |  | (2,224 | ) |  |  | 3,942 |  |  | Cost of sales, Note 3
Total before tax |  |  | (2,334 | ) |  |  | 3,832 |  |  | Total before tax
Tax benefit (expense) |  |  | 582 |  |  |  | (968 | ) |  | Income tax expense
Total net of tax |  |  | (1,752 | ) |  |  | 2,864 |  |  | Net of tax
Amortization of defined benefit pension items: |  |  |  |  |  |  |  |  |  |
Prior-service credits |  |  | (98 | ) |  |  | (265 | ) |  | Note 1
Settlement loss |  |  | (109,054 | ) |  |  | — |  |  | Note 1
Actuarial losses |  |  | (1,389 | ) |  |  | (5,248 | ) |  | Note 1
Total before tax |  |  | (110,541 | ) |  |  | (5,513 | ) |  | Total before tax
Tax benefit |  |  | 27,929 |  |  |  | 1,392 |  |  | Income tax expense
Total net of tax |  |  | (82,612 | ) |  |  | (4,121 | ) |  | Net of tax
Total reclassifications |  | $ | (84,364 | ) |  | $ | (1,257 | ) |  | Net of tax
Note 1: | These items are included in the computation of net periodic pension cost and are reported in the other components of net periodic pension and postretirement benefits (credit) expense line item on the Condensed Consolidated Statements of Income. See Note 17, Postretirement Plans, of Notes to Condensed Consolidated Financial Statements of this Form 10-Q 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.
Changes to AOCI, Net of Income Tax | During the forty weeks ended October 3, 2020, changes to AOCI, net of income tax, by component were as follows (amounts in thousands and parentheses denote a debit balance):
|  | Cash Flow Hedge Items |  |  | Defined Benefit Pension Plan Items |  |  | Total |
AOCI at December 28, 2019 |  | $ | 1,658 |  |  | $ | (107,678 | ) |  | $ | (106,020 | )
Other comprehensive (loss) income before reclassifications |  |  | 2,202 |  |  |  | 21,058 |  |  |  | 23,260 |
Reclassified to earnings from AOCI |  |  | 1,752 |  |  |  | 82,612 |  |  |  | 84,364 |
AOCI at October 3, 2020 |  | $ | 5,612 |  |  | $ | (4,008 | ) |  | $ | 1,604 |
During the forty weeks ended October 5, 2019, changes to AOCI, net of income tax, by component were as follows (amounts in thousands and parentheses denote a debit balance):
|  | Cash Flow Hedge Items |  |  | Defined Benefit Pension Plan Items |  |  | Total |
AOCI at December 29, 2018 |  | $ | (4,135 | ) |  | $ | (105,036 | ) |  | $ | (109,171 | )
Other comprehensive income before reclassifications |  |  | (4,577 | ) |  |  | — |  |  |  | (4,577 | )
Reclassified to earnings from AOCI |  |  | (2,864 | ) |  |  | 4,121 |  |  |  | 1,257 |
AOCI at October 5, 2019 |  | $ | (11,576 | ) |  | $ | (100,915 | ) |  | $ | (112,491 | )
Gain (Loss) Reclassified From AOCI for Commodity Contracts | The following table presents the net of tax amount reclassified from AOCI for our commodity contracts (amounts in thousands and positive value indicates credits to determine net income):
|  | For the Forty Weeks Ended |
|  | October 3, 2020 |  |  | October 5, 2019 |
Gross (loss) gain reclassified from AOCI into net income |  | $ | (2,224 | ) |  | $ | 3,942 |
Tax benefit (expense) |  |  | 556 |  |  |  | (995 | )
Net of tax |  | $ | (1,668 | ) |  | $ | 2,947 |

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