Note 18 - Accumulated Other Comprehensive Income

6 Months Ended

Dec. 23, 2012

Accumulated Other Comprehensive Income [Text Block]

18. Accumulated Other Comprehensive Income

The components and the changes in Accumulated other comprehensive income, net of tax as applicable, consist of the following:

	Foreign Currency Translation Adjustments			Derivative Financial Instruments			Accumulated Other Comprehensive Income
Balance at June 24, 2012	$	2,017		$	(1,989	)	$	28
Other comprehensive income (loss) activity, net of tax:
Foreign currency translation adjustments		(664	)		¾			(664	)
Unrealized loss on interest rate derivative contracts		¾			(233	)		(233	)
Reclassification adjustment for losses on interest rate derivative contracts included in net income		¾			56			56
Change in unconsolidated affiliate’s cash flow hedges		¾			1,228			1,228
Other comprehensive income (loss), net of tax		(664	)		1,051			387
Balance at December 23, 2012	$	1,353		$	(938	)	$	415

Derivative financial instruments includes $14 of gains and $1,214 for losses on cash flow hedges related to one of the Company’s unconsolidated affiliates at December 23, 2012 and June 24, 2012, respectively. The cumulative tax benefit on derivative financial instruments was $355 and $239 at December 23, 2012 and June 24, 2012, respectively. The income tax benefit provided on the components of Other comprehensive income (loss) was $152 on the Unrealized loss on interest rate derivative contracts and $36 allocated to the Reclassification adjustment for losses on interest rate derivative contracts included in net income.