XML 15 R18.htm IDEA: XBRL DOCUMENT v3.20.1
COMPREHENSIVE (LOSS) INCOME AND ACCUMULATED OTHER COMPREHENSIVE LOSS
 9 Months Ended
May 02, 2020
Equity [Abstract]  
COMPREHENSIVE (LOSS) INCOME AND ACCUMULATED OTHER COMPREHENSIVE LOSS
NOTE 10—COMPREHENSIVE (LOSS) INCOME AND ACCUMULATED OTHER COMPREHENSIVE LOSS

Changes in Accumulated other comprehensive loss by component net of tax for fiscal 2020 year-to-date are as follows:
(in thousands)
Benefit Plans
 
Foreign Currency
 
Swap Agreements
 
Total
Accumulated other comprehensive loss at August 3, 2019
$
(32,458
)
 
$
(20,082
)
 
$
(56,413
)
 
$
(108,953
)
Other comprehensive gain (loss) before reclassifications
1,480

 
(3,561
)
 
(55,874
)
 
(57,955
)
Amortization of amounts included in net periodic benefit income
(1,722
)
 
—

 
—

 
(1,722
)
Amortization of cash flow hedge
—

 
—

 
9,375

 
9,375

Pension settlement charge
7,610

 
—

 
—

 
7,610

Net current period Other comprehensive income (loss)
7,368

 
(3,561
)
 
(46,499
)
 
(42,692
)
Accumulated other comprehensive loss at May 2, 2020
$
(25,090
)
 
$
(23,643
)
 
$
(102,912
)
 
$
(151,645
)

Changes in Accumulated other comprehensive loss by component net of tax for fiscal 2019 year-to-date are as follows:
(in thousands)
Foreign Currency
 
Swap Agreements
 
Total
Accumulated other comprehensive (loss) income at July 28, 2018
$
(19,053
)
 
$
4,874

 
$
(14,179
)
Other comprehensive loss before reclassifications
(2,308
)
 
(26,545
)
 
(28,853
)
Amortization of cash flow hedge
—

 
(353
)
 
(353
)
Net current period Other comprehensive loss
(2,308
)
 
(26,898
)
 
(29,206
)
Accumulated other comprehensive loss at April 27, 2019
$
(21,361
)
 
$
(22,024
)
 
$
(43,385
)


Items reclassified out of Accumulated other comprehensive loss had the following impact on the Condensed Consolidated Statements of Operations:
 
13-Week Period Ended
 
39-Week Period Ended
 
Affected Line Item on the Condensed Consolidated Statements of Operations
(in thousands)
May 2,
2020
 
April 27,
2019
 
May 2,
2020
 
April 27,
2019
 
Pension and postretirement benefit plan obligations:
 
 
 
 
 
 
 
 
 
Amortization of amounts included in net periodic benefit income(1)
$
(777
)
 
$
—

 
$
(2,328
)
 
$
—

 
Net periodic benefit income, excluding service cost
Pension settlement charge
—

 
—

 
10,303

 
—

 
Net periodic benefit income, excluding service cost
Total reclassifications
(777
)
 
—

 
7,975

 
—

 
 
Income tax (expense) benefit
(203
)
 
—

 
2,087

 
—

 
Benefit for income taxes
Total reclassifications, net of tax
$
(574
)
 
$
—

 
$
5,888

 
$
—

 
 
 
 
 
 
 
 
 
 
 
 
Swap agreements:
 
 
 
 
 
 
 
 
 
Amortization of cash flow hedge expense (income)
$
6,191

 
$
(15
)
 
$
12,812

 
$
(458
)
 
Interest expense, net
Income tax benefit (expense)
1,661

 
5

 
3,437

 
(105
)
 
Benefit for income taxes
Total reclassifications, net of tax
$
4,530

 
$
(20
)
 
$
9,375

 
$
(353
)
 
 

(1)
Amortization of amounts included in net periodic benefit income include amortization of prior service benefit and amortization of net actuarial loss as reflected in Note 13—Benefit Plans.

As of May 2, 2020, the Company expects to reclassify $45.8 million of pre-tax accumulated other comprehensive loss into Interest expense, net during the succeeding twelve-month period.