Accumulated Other Comprehensive Income (Loss)

6 Months Ended

Jun. 18, 2016

Equity [Abstract]

Accumulated Other Comprehensive Income (Loss)

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

Accumulated other comprehensive income (loss) (“AOCI”) represents net earnings and any revenue, expenses, gains and losses that, under U.S. GAAP, are excluded from net earnings and recognized directly as a component of stockholders’ equity.

The change in AOCI during the 12 weeks ended June 18, 2016 and June 20, 2015 is as follows:

(In millions)	Foreign currency translation adjustments			Foreign exchange contracts				Interest rate swaps				Pension adjustments				Total
Balance of AOCI as of March 28, 2015	$	(34.3	)	$	13.9			$	(0.3	)		$	(38.5	)		$	(59.2	)
Other comprehensive income (loss) before reclassifications (1)	8.2			(4.6		)		—				—				3.6
Amounts reclassified from AOCI	—			(4.9		)	(2)	—				4.9			(4)	—
Income tax expense (benefit)	—			1.5				—				(1.8		)		(0.3		)
Net reclassifications	—			(3.4		)		—				3.1				(0.3		)
Net current-period other comprehensive income (loss) (1)	8.2			(8.0		)		—				3.1				3.3
Balance of AOCI as of June 20, 2015	$	(26.1	)	$	5.9			$	(0.3	)		$	(35.4	)		$	(55.9	)
Balance of AOCI as of March 26, 2016	$	(42.3	)	$	3.2			$	(6.4	)		$	(12.0	)		$	(57.5	)
Other comprehensive income (loss) before reclassifications (1)	5.3			(1.4		)		(2.5		)		—				1.4
Amounts reclassified from AOCI	—			(2.9		)	(2)	0.2			(3)	1.2			(4)	(1.5		)
Income tax expense (benefit)	—			0.9				(0.1		)		(0.5		)		0.3
Net reclassifications	—			(2.0		)		0.1				0.7				(1.2		)
Net current-period other comprehensive income (loss) (1)	5.3			(3.4		)		(2.4		)		0.7				0.2
Balance of AOCI as of June 18, 2016	$	(37.0	)	$	(0.2	)		$	(8.8	)		$	(11.3	)		$	(57.3	)

⁽¹⁾  Other comprehensive income (loss) is reported net of taxes and noncontrolling interest.

⁽²⁾  Amounts reclassified are included in cost of goods sold.

⁽³⁾  Amounts reclassified are included in interest expense.

⁽⁴⁾  Amounts reclassified are included in the computation of net pension expense.

The change in AOCI during the 24 weeks endedJune 18, 2016 and June 20, 2015 is as follows:

(In millions)	Foreign currency translation adjustments			Foreign exchange contracts				Interest rate swap			Pension adjustments				Total
Balance of AOCI as of January 3, 2015	$	(16.9	)	$	8.6			$	0.4		$	(41.6	)		$	(49.5	)
Other comprehensive income (loss) before reclassifications (1)	(9.2		)	2.5				(0.7		)	—				(7.4		)
Amounts reclassified from AOCI	—			(7.4		)	(2)	—			9.7			(3)	2.3
Income tax expense (benefit)	—			2.2				—			(3.5		)		(1.3		)
Net reclassifications	—			(5.2		)		—			6.2				1.0
Net current-period other comprehensive income (loss) (1)	(9.2		)	(2.7		)		(0.7		)	6.2				(6.4		)
Balance of AOCI as of June 20, 2015	$	(26.1	)	$	5.9			$	(0.3	)	$	(35.4	)		$	(55.9	)
Balance of AOCI as of January 2, 2016	$	(47.3	)	$	6.4			$	(2.4	)	$	(12.8	)		$	(56.1	)
Other comprehensive income (loss) before reclassifications (1)	10.3			(3.3		)		(6.7		)	—				0.3
Amounts reclassified from AOCI	—			(4.7		)	(2)	0.5			2.3			(3)	(1.9		)
Income tax expense (benefit)	—			1.4				(0.2		)	(0.8		)		0.4
Net reclassifications	—			(3.3		)		0.3			1.5				(1.5		)
Net current-period other comprehensive income (loss) (1)	10.3			(6.6		)		(6.4		)	1.5				(1.2		)
Balance of AOCI as of June 18, 2016	$	(37.0	)	$	(0.2	)		$	(8.8	)	$	(11.3	)		$	(57.3	)

⁽¹⁾  Other comprehensive income (loss) is reported net of taxes and noncontrolling interest.

⁽²⁾  Amounts reclassified are included in cost of goods sold.

⁽³⁾  Amounts reclassified are included in interest expense.

⁽⁴⁾  Amounts reclassified are included in the computation of net pension expense.