Accumulated Other Comprehensive Income (Loss) ("AOCI")

9 Months Ended

Oct. 04, 2025

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Accumulated Other Comprehensive Income (Loss) ("AOCI")

7. 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 forty weeks ended October 4, 2025 and October 5, 2024, 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 4, 2025			October 5, 2024			Where Net Income is Presented
Derivative instruments:
Interest rate contracts	$	211		$	115		Interest expense
Commodity contracts		(219	)		(285	)	Cost of sales, Note 3
Total before tax		(8	)		(170	)	Total before tax
Tax benefit		2			42		Income tax expense
Total net of tax		(6	)		(128	)	Net of tax
Pension and postretirement plans:
Prior-service credits		48			41		Note 1
Actuarial gain		43			31		Note 1
Total before tax		91			72		Total before tax
Tax expense		(23	)		(17	)	Income tax expense
Total net of tax		68			55		Net of tax
Total reclassifications	$	62		$	(73	)	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 4, 2025			October 5, 2024			Where Net Income is Presented
Derivative instruments:
Interest rate contracts	$	648		$	383		Interest expense
Commodity contracts		262			(1,314	)	Cost of sales, Note 3
Total before tax		910			(931	)	Total before tax
Tax (expense) benefit		(226	)		232		Income tax expense
Total net of tax		684			(699	)	Net of tax
Pension and postretirement plans:
Prior-service credits		160			136		Note 1
Actuarial gains		145			105		Note 1
Total before tax		305			241		Total before tax
Tax expense		(77	)		(59	)	Income tax expense
Total net of tax		228			182		Net of tax
Total reclassifications	$	912		$	(517	)	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. See Note 19, 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 forty weeks ended October 4, 2025, 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, 2024	$	7,087		$	(257	)	$	6,830
Other comprehensive income before reclassifications		(2,834	)		—			(2,834	)
Reclassified to earnings from AOCI		(684	)		(228	)		(912	)
AOCI at October 4, 2025	$	3,569		$	(485	)	$	3,084

During the forty weeks ended October 5, 2024, 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 30, 2023	$	963	$	(342	)	$	621
Other comprehensive income before reclassifications		1,101		—			1,101
Reclassified to earnings from AOCI		699		(182	)		517
AOCI at October 5, 2024	$	2,763	$	(524	)	$	2,239

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 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 4, 2025			October 5, 2024
Gross gain (loss) reclassified from AOCI into net income	$	262		$	(1,314	)
Tax benefit		(64	)		329
Net of tax	$	198		$	(985	)