XML 27 R17.htm IDEA: XBRL DOCUMENT v3.24.3
ACCUMULATED OTHER COMPREHENSIVE LOSS
 9 Months Ended
Sep. 28, 2024
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
ACCUMULATED OTHER COMPREHENSIVE LOSS ACCUMULATED OTHER COMPREHENSIVE LOSS
The components of Accumulated other comprehensive loss were as follows:
(dollars in thousands)September 28, 2024December 30, 2023September 30, 2023
Cumulative foreign currency translation adjustments$(28,943)$(18,233)$(23,630)
Pension and post-retirement obligations(*)
(3,418)(5,682)(5,512)
Total accumulated other comprehensive loss$(32,361)$(23,915)$(29,142)
(*)Net of income taxes of $1.1 million, $1.8 million, and $1.7 million for the period ended September 28, 2024, December 30, 2023, and September 30, 2023, respectively.
In the third quarter of fiscal 2024 the Company made single-sum payments to certain participants in the frozen OshKosh B’Gosh, Inc. Pension Plan (the “pension plan”), thereby reducing its pension benefit obligations. As a result of the single-sum payout, the Company remeasured the funded status of the pension plan as of August 31, 2024. In the third quarter and first three quarters of fiscal 2024, a gain on pension obligations of $1.5 million (net of income taxes of $0.5 million) was recognized in Accumulated other comprehensive income related to this remeasurement.
Additionally, in the third quarter and first three quarters of fiscal 2024, $0.7 million of deferred losses on pension obligations (net of income taxes of $0.2 million) were reclassified from Accumulated other comprehensive loss to Other expense (income), net within the condensed consolidated statement of operations related to the partial settlement of the pension plan. Refer to Note 12, Employee Benefit Plans, to the condensed consolidated financial statement.
During the first three quarters of fiscal 2023, no amounts were reclassified from Accumulated other comprehensive loss to the condensed consolidated statement of operations.