Accumulated Other Comprehensive Income

6 Months Ended

Jun. 26, 2020

Accumulated Other Comprehensive Income (Loss)

Changes in the components of accumulated other comprehensive income, including the amounts reclassified, for the second quarter and first six months of 2020 and 2019 are as follows:


	Gains and Losses on Cash Flow Hedges
(Thousands)	Foreign Currency		Precious Metals		Copper		Total		Pension and Post-Employment Benefits		Foreign Currency Translation		Total
Balance at March 27, 2020	$	1,214	$	(841)	$	(330)	$	43	$	(41,330)	$	(5,886)	$	(47,173)
Other comprehensive (loss) income before reclassifications	(201)		(411)		426		(186)		—		1,166		980
Amounts reclassified from accumulated other comprehensive income	8		491		132		631		70		—		701
Net current period other comprehensive income (loss) before tax	(193)		80		558		445		70		1,166		1,681
Deferred taxes	(44)		18		124		98		(19)		—		79
Net current period other comprehensive income (loss) after tax	(149)		62		434		347		89		1,166		1,602
Balance at June 26, 2020	$	1,065	$	(779)	$	104	$	390	$	(41,241)	$	(4,720)	$	(45,571)

Balance at March 29, 2019	$	1,663	$	(24)	$	189	$	1,828	$	(54,003)	$	(5,095)	$	(57,270)
Other comprehensive income (loss) before reclassifications	(269)		(563)		(580)		(1,412)		14,224		339		13,151
Amounts reclassified from accumulated other comprehensive income	(46)		(1)		163		116		3,781		—		3,897
Net current period other comprehensive income (loss) before tax	(315)		(564)		(417)		(1,296)		18,005		339		17,048
Deferred taxes	(72)		(130)		(94)		(296)		4,052		—		3,756
Net current period other comprehensive income (loss) after tax	(243)		(434)		(323)		(1,000)		13,953		339		13,292
Balance at June 28, 2019	$	1,420	$	(458)	$	(134)	$	828	$	(40,050)	$	(4,756)	$	(43,978)


	Gains and Losses on Cash Flow Hedges
(Thousands)	Foreign Currency		Precious Metals		Copper		Total		Pension and Post-Employment Benefits		Foreign Currency Translation		Total
Balance at December 31, 2019	$	1,324	$	(452)	$	25	$	897	$	(41,346)	$	(5,013)	$	(45,462)
Other comprehensive (loss) income before reclassifications	(343)		(1,234)		(352)		(1,929)		—		293		(1,636)
Amounts reclassified from accumulated other comprehensive income	7		809		453		1,269		46		—		1,315
Net current period other comprehensive income (loss) before tax	(336)		(425)		101		(660)		46		293		(321)
Deferred taxes	(77)		(98)		22		(153)		(59)		—		(212)
Net current period other comprehensive income (loss) after tax	(259)		(327)		79		(507)		105		293		(109)
Balance at June 26, 2020	$	1,065	$	(779)	$	104	$	390	$	(41,241)	$	(4,720)	$	(45,571)

Balance at December 31, 2018	$	1,263	$	79	$	(441)	$	901	$	(54,543)	$	(4,592)	$	(58,234)
Other comprehensive (loss) income before reclassifications	248		(636)		304		(84)		14,224		(164)		13,976
Amounts reclassified from accumulated other comprehensive income	(44)		(62)		92		(14)		4,441		—		4,427
Net current period other comprehensive income (loss) before tax	204		(698)		396		(98)		18,665		(164)		18,403
Deferred taxes	47		(161)		89		(25)		4,172		—		4,147
Net current period other comprehensive income (loss) after tax	157		(537)		307		(73)		14,493		(164)		14,256
Balance at June 28, 2019	$	1,420	$	(458)	$	(134)	$	828	$	(40,050)	$	(4,756)	$	(43,978)

Reclassifications from accumulated other comprehensive income of gains and losses on foreign currency cash flow hedges are recorded in Net sales in the Consolidated Statements of Income. Reclassifications from accumulated other comprehensive income of gains and losses on precious metal cash flow hedges are recorded in Cost of sales in the Consolidated Statements of Income. Refer to Note Q for additional details on cash flow hedges.

Reclassifications from accumulated other comprehensive income for pension and post-employment benefits are included in the computation of the net periodic pension and post-employment benefit expense. Refer to Note M for additional details on pension and post-employment expenses.