Accumulated Other Comprehensive Loss

12 Months Ended

Jun. 29, 2023

Accumulated Other Comprehensive Loss [Abstract]

NOTE 16 — 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 29, 2023			Year Ended June 30, 2022
Balance at beginning of period	$	(2,480	)	$	(9,025	)
Other comprehensive income before reclassifications		3,007			7,390
Amounts reclassified from accumulated other comprehensive loss		28			1,455
Tax effect		(759	)		(2,300	)
Net current-period other comprehensive income		2,276			6,545
Balance at end of period	$	(204	)	$	(2,480	)

(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 29, 2023			Year Ended June 30, 2022			Affected line item in the Consolidated Statements of Comprehensive Income
Amortization of defined benefit pension items:
Unrecognized net loss		(28	)		(1,455	)	Pension expense (excluding service costs)
Tax effect		7			378		Income tax expense
Amortization of defined pension items, net of tax	$	(21	)	$	(1,077	)

(b)

Amounts in parenthesis indicate debits to expense. See Note 15 — “Retirement Plan” above for additional details.