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Comprehensive Income (Loss)
 6 Months Ended
Jun. 15, 2013
Equity [Abstract]  
Comprehensive Income (Loss)
6. COMPREHENSIVE INCOME (LOSS)

Comprehensive income (loss) represents net earnings and any revenue, expenses, gains and losses that, under U.S. GAAP, are excluded from net earnings and recognized directly as a component of stockholders’ equity.

The changes in accumulated other comprehensive income (loss) are as follows for the periods indicated:

Changes in Accumulated Other Comprehensive Income (Loss) by Component (1)

 

(In millions)

    Foreign
currency
translation
adjustments		     Foreign
exchange
contracts		     Interest rate
swap		     Pension
adjustments		     Total  

Balance of accumulated other comprehensive income (loss) as of December 29, 2012

    $ 5.9      $ (1.7 )    $ (1.0 )    $ (90.7 )    $ (87.5 ) 

Other comprehensive income (loss) before reclassifications

      (9.6 )      0.7        0.3        —          (8.6 ) 

Amounts reclassified from accumulated other comprehensive income (loss)

      —          0.1        —          4.6        4.7   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net current-period other comprehensive income (loss)

      (9.6 )      0.8        0.3        4.6        (3.9 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Balance of accumulated other comprehensive income (loss) as of March 23, 2013

      (3.7 )      (0.9 )      (0.7 )      (86.1 )      (91.4 ) 

Other comprehensive income (loss) before reclassifications

      4.9        (1.6 )      0.7        —          4.0   

Amounts reclassified from accumulated other comprehensive income (loss)

      —          0.5        —          4.5        5.0   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net current-period other comprehensive income (loss)

      4.9        (1.1 )      0.7        4.5        9.0   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Balance of accumulated other comprehensive income (loss) as of June 15, 2013

    $ 1.2      $ (2.0 )    $ (—   )    $ (81.6 )    $ (82.4 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

 

(1) All amounts are net of tax and noncontrolling interest.

 

The reclassification adjustments out of accumulated other comprehensive income (loss) are as follows for the periods indicated:

 

12 Weeks Ended

June 15, 2013
Reclassifications out of Accumulated Other Comprehensive Income (Loss) (1)
(In millions)           

Details about accumulated other comprehensive income
components

    Amount reclassified  from
accumulated other
comprehensive income		    

Affected line item in the

statement where net income is

presented

Foreign exchange contracts:

     

Reclassification adjustments into cost of goods sold, loss

    $ 0.8      Cost of goods sold
  

 

 

    
     0.8      Total before tax
     (0.3 )    Tax benefit
  

 

 

    
     0.5      Net of tax
  

 

 

    

Amortization of defined benefit pension items:

     

Prior actuarial loss

      7.0      (2)
  

 

 

    
     7.0      Total before tax
     (2.5 )    Tax benefit
  

 

 

    
     4.5      Net of tax
  

 

 

    

Total reclassifications for the period ending

    $ 5.0      Net of tax
  

 

 

    

 

24 Weeks Ended

June 15, 2013
Reclassifications out of Accumulated Other Comprehensive Income (Loss) (1)
(In millions)           

Details about accumulated other comprehensive income
components

    Amount reclassified  from
accumulated other
comprehensive income		    

Affected line item in the

statement where net income is

presented

Foreign exchange contracts:

     

Reclassification adjustments into cost of goods sold, loss

    $ 0.9      Cost of goods sold
  

 

 

    
     0.9      Total before tax
     (0.3 )    Tax benefit
  

 

 

    
     0.6      Net of tax
  

 

 

    

Amortization of defined benefit pension items:

     

Prior actuarial loss

      14.0      (2)
  

 

 

    
     14.0      Total before tax
     (4.9 )    Tax benefit
  

 

 

    
     9.1      Net of tax
  

 

 

    

Total reclassifications for the period ending

    $ 9.7      Net of tax
  

 

 

    

 

(1) Amounts in parentheses indicate increases to net earnings
(2) These accumulated other comprehensive income components are included in the computation of net periodic pension costs (see Note 9 for additional details).