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Accumulated Other Comprehensive Income (Loss) ("AOCI") (Tables) | 9 Months Ended
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Oct. 07, 2023
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] |
Summary of Reclassifications Out of AOCI | During the twelve and forty weeks ended October 7, 2023 and October 8, 2022, 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, 2023 |  |  | October 8, 2022 |  |  | Where Net Income is Presented
Derivative instruments: |  |  |  |  |  |  |  |
Interest rate contracts |  | $ | 115 |  |  | $ | 115 |  |  | Interest expense
Commodity contracts |  |  | (511 | ) |  |  | 2,428 |  |  | Cost of sales, Note 3
Total before tax |  |  | (396 | ) |  |  | 2,543 |  |  | Total before tax
Tax benefit (expense) |  |  | 99 |  |  |  | (635 | ) |  | Income tax expense
Total net of tax |  |  | (297 | ) |  |  | 1,908 |  |  | Net of tax
Pension and postretirement plans: |  |  |  |  |  |  |  |
Prior-service credits |  |  | 40 |  |  |  | 41 |  |  | Note 1
Actuarial gain (losses) |  |  | 17 |  |  |  | (66 | ) |  | Note 1
Total before tax |  |  | 57 |  |  |  | (25 | ) |  | Total before tax
Tax (expense) benefit |  |  | (13 | ) |  |  | 7 |  |  | Income tax expense
Total net of tax |  |  | 44 |  |  |  | (18 | ) |  | Net of tax
Total reclassifications |  | $ | (253 | ) |  | $ | 1,890 |  |  | 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, 2023 |  |  | October 8, 2022 |  |  | Where Net Income is Presented
Derivative instruments: |  |  |  |  |  |  |  |
Interest rate contracts |  | $ | 383 |  |  | $ | 383 |  |  | Interest expense
Commodity contracts |  |  | (2,426 | ) |  |  | 5,625 |  |  | Cost of sales, Note 3
Total before tax |  |  | (2,043 | ) |  |  | 6,008 |  |  | Total before tax
Tax benefit (expense) |  |  | 511 |  |  |  | (1,501 | ) |  | Income tax expense
Total net of tax |  |  | (1,532 | ) |  |  | 4,507 |  |  | Net of tax
Pension and postretirement plans: |  |  |  |  |  |  |  |
Prior-service credits |  |  | 135 |  |  |  | 137 |  |  | Note 1
Actuarial gain (losses) |  |  | 57 |  |  |  | (220 | ) |  | Note 1
Total before tax |  |  | 192 |  |  |  | (83 | ) |  | Total before tax
Tax (expense) benefit |  |  | (47 | ) |  |  | 22 |  |  | Income tax expense
Total net of tax |  |  | 145 |  |  |  | (61 | ) |  | Net of tax
Total reclassifications |  | $ | (1,387 | ) |  | $ | 4,446 |  |  | 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 line item on the Condensed Consolidated Statements of Income (Loss). See Note 18, 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.
Changes to AOCI, Net of Income Tax | During the forty weeks ended October 7, 2023, 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 31, 2022 |  | $ | 2,099 |  |  | $ | (625 | ) |  | $ | 1,474 |
Other comprehensive loss before reclassifications |  |  | (1,531 | ) |  |  | — |  |  |  | (1,531 | )
Reclassified to earnings from AOCI |  |  | 1,532 |  |  |  | (145 | ) |  |  | 1,387 |
AOCI at October 7, 2023 |  | $ | 2,100 |  |  | $ | (770 | ) |  | $ | 1,330 |
During the forty weeks ended October 8, 2022, 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 January 1, 2022 |  | $ | 6,043 |  |  | $ | (3,456 | ) |  | $ | 2,587 |
Other comprehensive income before reclassifications |  |  | 2,654 |  |  |  | — |  |  |  | 2,654 |
Reclassified to earnings from AOCI |  |  | (4,507 | ) |  |  | 61 |  |  |  | (4,446 | )
AOCI at October 8, 2022 |  | $ | 4,190 |  |  | $ | (3,395 | ) |  | $ | 795 |
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 7, 2023 |  |  | October 8, 2022 |
Gross (loss) gain reclassified from AOCI into net income |  | $ | (2,426 | ) |  | $ | 5,625 |
Tax benefit (expense) |  |  | 607 |  |  |  | (1,406 | )
Net of tax |  | $ | (1,819 | ) |  | $ | 4,219 |

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