Accumulated Other Comprehensive Loss

12 Months Ended

Jun. 24, 2021

Accumulated Other Comprehensive Loss [Abstract]

NOTE 15 — ACCUMULATED OTHER COMPREHENSIVE LOSS

The table below sets forth the changes to accumulated other comprehensive loss (“AOCL”) for the last two fiscal years. These changes are all related to our defined benefit pension plan.


Changes to AOCL (a)	Year Ended June 24, 2021			Year Ended June 25, 2020
Balance at beginning of period	$	(8,630	)	$	(4,325	)
Other comprehensive loss before reclassifications		(2,195	)		(5,872	)
Amounts reclassified from accumulated other comprehensive loss		1,661			1,374
Tax effect		139			1,169

Net current-period other comprehensive loss		(395	)		(3,329	)
Impact of adopting ASU 2018-02		—			(976	)

Balance at end of period	$	(9,025	)	$	(8,630	)

(a)	Amounts in parenthesis indicate debits/expense.

The reclassifications out of accumulated other comprehensive loss for the last two fiscal years were as follows:


Reclassifications from AOCL to earnings (b)	Year Ended June 24, 2021			Year Ended June 25, 2020			Affected line item in the Consolidated Statements of Comprehensive Income
Amortization of defined benefit pension items:
Unrecognized prior service cost	$	(478	)	$	(957	)		Other expense
Unrecognized net loss		(1,183	)		(417	)		Other expense

Total before tax		(1,661	)		(1,374	)
Tax effect		432			358			Income tax expense

Amortization of defined pension items, net of tax	$	(1,229	)	$	(1,016	)

(b)	Amounts in parenthesis indicate debits to expense. See Note 14 — “Retirement Plan” above for additional details.