Note 12 - Accumulated Other Comprehensive Loss

12 Months Ended

Nov. 30, 2019

Notes to Financial Statements

Comprehensive Income (Loss) Note [Text Block]

12. Accumulated Other Comprehensive Loss

The activity in accumulated other comprehensive loss for the fiscal years ended November 30, 2019 and November 24, 2018, which is comprised solely of post-retirement benefit costs related to our SERP and LTC Awards, is as follows:

Balance at November 25, 2017	$	(2,570	)
Reclassification of certain tax effects to retained earnings (1)		(545	)
Actuarial gains		616
Net pension amortization
reclassified from accumulated other comprehensive loss		430
Tax effects		(269	)
Balance at November 24, 2018		(2,338	)
Actuarial gains		1,172
Net pension amortization
reclassified from accumulated other comprehensive loss		308
Tax effects		(378	)
Balance at November 30, 2019	$	(1,236	)

(1) In 2018 we adopted ASU 2018-02, Income Statement – Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Comprehensive Income. ASU 2018-02 addressed the impact of the remeasurement of deferred taxes on items in accumulated other comprehensive income due to the reduction in federal statutory rates arising from the Tax Cuts and Jobs Act of December 2017 by allowing the transfer of certain tax effects carried over from prior years to retained earnings as of the beginning of fiscal 2018.