Accumulated Other Comprehensive Income or Loss

12 Months Ended

Dec. 28, 2019

Accumulated Other Comprehensive Income or Loss

Note 12 – Accumulated Other Comprehensive Income or Loss

Accumulated Other Comprehensive Income or Loss (“AOCI”) represents the cumulative balance of other comprehensive income (loss), net of tax, as of the end of the reporting period. For the Company, the activity relates to pension and other postretirement benefit obligation adjustments.

Changes in AOCI are as follows:

(In thousands)	2019			2018			2017
Balance at beginning of the year, net of tax	$	(15,759	)	$	(15,136	)	$	(11,437	)
Other comprehensive income (loss) before reclassifications		219			(2,026	)		(2,448	)
Income tax (expense) benefit		(55	)		458			934
Other comprehensive income (loss), net of tax, before reclassifications		164			(1,568	)		(1,514	)
Amortization of amounts included in net periodic benefit cost (a)		18,480			1,204			799
Income tax expense (b)		(4,485	)		(259	)		(302	)
Amounts reclassified out of AOCI, net of tax		13,995			945			497
Other comprehensive income (loss), net of tax		14,159			(623	)		(1,017	)
Reclassification of stranded tax effects (c)		—			—			(2,682	)
Balance at end of the year, net of tax	$	(1,600	)	$	(15,759	)	$	(15,136	)

(a)	Reclassified from AOCI into Other, net, or Selling, general and administrative expense. Amounts include amortization of net actuarial loss, amortization of prior service cost, and settlement expense totaling $18.4 million, $0.9 million and $0.6 million in 2019, 2018 and 2017, respectively.

(b)	Reclassified from AOCI into Income tax (benefit) expense.

(c)	Reclassification reflects the impact of ASU 2018-02, which allowed stranded tax effects from the Tax Cuts and Jobs Act to be reclassified from AOCI to retained earnings.