Shareholders' Equity (Tables)

12 Months Ended

Dec. 29, 2021

Components of Accumulated Other Comprehensive Loss

The components of the change in accumulated other comprehensive loss were as follows:


	Pensions		Derivatives		Accumulated Other Comprehensive Loss
	(In thousands)
Balance as of December 26, 2018	$	(827)	$	(3,319)	$	(4,146)
Benefit obligation actuarial loss	(25)		—		(25)

Amortization of net loss (1)	86		—		86

Changes in the fair value of cash flow derivatives	—		(40,486)		(40,486)
Reclassification of cash flow derivatives to interest expense, net (2)	—		291		291
Income tax (expense) benefit	(15)		10,335		10,320
Balance as of December 25, 2019	$	(781)	$	(33,179)	$	(33,960)
Benefit obligation actuarial loss	(448)		—		(448)

Amortization of net loss (1)	89		—		89
Settlement loss recognized	95		—		95
Changes in the fair value of cash flow derivatives	—		(46,910)		(46,910)
Reclassification of cash flow derivatives to interest expense, net (2)	—		3,160		3,160
Reclassification of loss related to dedesignation of derivatives to other nonoperating expense (income)(3)	—		7,354		7,354
Amortization of unrealized losses related to dedesignated derivatives to interest expense, net (3)	—		783		783
Income tax benefit	67		9,365		9,432
Balance as of December 30, 2020	$	(978)	$	(59,427)	$	(60,405)
Benefit obligation actuarial loss	(46)		—		(46)

Amortization of net loss (1)	159		—		159
Changes in the fair value of cash flow derivatives	—		4,275		4,275
Reclassification of cash flow derivatives to interest expense, net (2)	—		4,023		4,023

Amortization of unrealized losses related to dedesignated derivatives to interest expense, net (3)	—		166		166
Income tax expense	(35)		(2,607)		(2,642)
Balance as of December 29, 2021	$	(900)	$	(53,570)	$	(54,470)

(1) Before-tax amount that was reclassified from accumulated other comprehensive loss and included as a component of pension expense within general and administrative expenses in our Consolidated Statements of Operations. See Note 11 for additional details.

(2) Amounts reclassified from accumulated other comprehensive loss into income represent payments made to the counterparty for the effective portions of the interest rate swaps. These amounts are included as a component of interest expense in our Consolidated Statements of Operations. We expect to reclassify approximately $4.0 million from accumulated other comprehensive loss related to our interest rate swaps during the next twelve months. See Note 9 for additional details.

(3) During the quarter ended June 24, 2020, we dedesignated the cash flow relationship and discontinued hedge accounting treatment for the 2018 Swaps. As a result, we reclassified approximately $7.4 million of losses from accumulated other comprehensive loss, net to other nonoperating expense (income), net in our Consolidated Statements of Operations related to the portion of forecasted transaction no longer considered probable of occurring. The remaining losses related to the 2018 Swaps will continue to be included in accumulated other comprehensive loss, net and will be amortized as a component of interest expense, net in our Consolidated Statements of Operations over the remaining term of the 2018 Swaps. For the years ended December 29, 2021 and December 30, 2020, we amortized approximately $0.2 million and $0.8 million, respectively, of losses to interest expense, net related to the 2018 Swaps. We expect to amortize less than $0.1 million from accumulated other comprehensive loss related to our interest rate swaps during the next twelve months. See Note 9 for additional details.