Accumulated Other Comprehensive Income (Loss)

9 Months Ended

Oct. 03, 2020

Accumulated Other Comprehensive Income (Loss) [Abstract]

Accumulated Other Comprehensive Income (Loss)

Note 9 – Accumulated Other Comprehensive Income (Loss)

The cumulative balance of each component of other comprehensive income (loss) and the income tax effects allocated to each component are as follows:

	Pension and other post- retirement actuarial items			Currency translation adjustment		Total
Balance at January 1, 2020	$	(68,020	)	$	41,374	$	(26,646	)
Other comprehensive income before reclassifications		-			18,059	$	18,059
Tax effect		-			-	$	-
Other comprehensive income before reclassifications, net of tax		-			18,059	$	18,059
Amounts reclassified out of AOCI		6,835			-	$	6,835
Tax effect		(1,588	)		-	$	(1,588	)
Amounts reclassified out of AOCI, net of tax		5,247			-	$	5,247
Net other comprehensive income	$	5,247		$	18,059	$	23,306
Balance at October 3, 2020	$	(62,773	)	$	59,433	$	(3,340	)

Reclassifications of pension and other post-retirement actuarial items out of AOCI are included in the computation of net periodic benefit cost.  See Note 10 for further information.