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Accumulated Other Comprehensive Loss

9 Months Ended

Mar. 24, 2022

Equity [Abstract]

Accumulated Other Comprehensive Loss

Note 10 – Accumulated Other Comprehensive Loss

The table below sets forth the changes to accumulated other comprehensive loss (“AOCL”) for the thirty-nine weeks ended March 24, 2022 and March 25, 2021. These changes are all related to our defined benefit pension plan.

Changes to AOCL (a)		For the Thirty-Nine Weeks Ended
		March 24, 2022				March 25, 2021
Balance at beginning of period		$	(9,025	)		$	(8,630	)
Other comprehensive income before reclassifications			—				—
Amounts reclassified from accumulated other comprehensive loss			1,091				1,246
Tax effect			(284	)			(311	)
Net current-period other comprehensive income			807				935
Balance at end of period		$	(8,218	)		$	(7,695	)

(a) Amounts in parenthesis indicate debits/expense.

The reclassifications out of AOCL for the quarter and thirty-nine weeks ended March 24, 2022 and March 25, 2021 were as follows:

																		Affected line item in the Consolidated Statements of Comprehensive Income
		For the Quarter Ended								For the Thirty-Nine Weeks Ended
Reclassifications from AOCL to earnings (b)		March 24, 2022				March 25, 2021				March 24, 2022				March 25, 2021
Amortization of defined benefit pension items:
Unrecognized prior service cost		$	—			$	(120	)		$	—			$	(359	)			Other expense
Unrecognized net loss			(363	)			(296	)			(1,091	)			(887	)			Other expense
Total before tax			(363	)			(416	)			(1,091	)			(1,246	)
Tax effect			94				104				284				311				Income tax expense
Amortization of defined pension items, net of tax		$	(269	)		$	(312	)		$	(807	)		$	(935	)

(b)  Amounts in parenthesis indicate debits to expense. See Note 9 – “Retirement Plan” above for additional details.

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- Definition

The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-URI http://asc.fasb.org/topic&trid=2134417

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(21))
-URI http://asc.fasb.org/extlink&oid=123367319&loc=SL114868664-224227

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(23))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(19))
-URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

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- References

No definition available.

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