Accumulated Other Comprehensive Income ("AOCI") (Tables)

4 Months Ended

Apr. 23, 2022

Accumulated Other Comprehensive Income Loss Net Of Tax [Abstract]

Summary of Reclassifications Out of AOCI

During the sixteen weeks ended April 23, 2022 and April 24, 2021, reclassifications out of AOCI were as follows (amounts in thousands):

	Amount Reclassified from AOCI
	For the Sixteen Weeks Ended						Affected Line Item in the Statement
Details about AOCI Components (Note 2)	April 23, 2022			April 24, 2021			Where Net Income is Presented
Derivative instruments:
Interest rate contracts	$	153		$	(219	)	Interest expense
Commodity contracts		1,138			(75	)	Cost of sales, Note 3
Total before tax		1,291			(294	)	Total before tax
Tax (expense) benefit		(322	)		74		Income tax expense
Total net of tax		969			(220	)	Net of tax
Pension and postretirement plans:
Prior-service credits (costs)		55			(17	)	Note 1
Actuarial losses		(88	)		(164	)	Note 1
Total before tax		(33	)		(181	)	Total before tax
Tax benefit		8			45		Income tax expense
Total net of tax		(25	)		(136	)	Net of tax
Total reclassifications	$	944		$	(356	)	Net of tax

Note 1: These items are included in the computation of net periodic pension cost and are reported in the other components of net periodic pension and postretirement benefits credit line item on the Condensed Consolidated Statements of Income. See Note 16, Postretirement Plans, of Notes to Condensed Consolidated Financial Statements of this Form 10-Q for additional information.

Note 2: Amounts in parentheses indicate debits to determine net income.

Note 3: Amounts are presented as an adjustment to reconcile net income to net cash provided by operating activities on the Condensed Consolidated Statements of Cash Flows.

Changes to AOCI, Net of Income Tax

During the sixteen weeks ended April 23, 2022, changes to AOCI, net of income tax, by component were as follows (amounts in thousands and parentheses denote a debit balance):

	Cash Flow Hedge Items			Defined Benefit Pension Plan Items			Total
AOCI at January 1, 2022	$	6,043		$	(3,456	)	$	2,587
Other comprehensive loss before reclassifications		11,220			—			11,220
Reclassified to earnings from AOCI		(969	)		25			(944	)
AOCI at April 23, 2022	$	16,294		$	(3,431	)	$	12,863

During the sixteen weeks ended April 24, 2021, changes to AOCI, net of income tax, by component were as follows (amounts in thousands and parentheses denote a debit balance):

	Cash Flow Hedge Items		Defined Benefit Pension Plan Items			Total
AOCI at January 2, 2021	$	13,072	$	(6,648	)	$	6,424
Other comprehensive income before reclassifications		4,745		—			4,745
Reclassified to earnings from AOCI		220		136			356
AOCI at April 24, 2021	$	18,037	$	(6,512	)	$	11,525

Gain (Loss) Reclassified From AOCI for Commodity Contracts

The following table presents the net of tax amount reclassified from AOCI for our commodity contracts (amounts in thousands and positive value indicates credits to determine net income):

	For the Sixteen Weeks Ended
	April 23, 2022			April 24, 2021
Gross gain (loss) reclassified from AOCI into net    income	$	1,138		$	(75	)
Tax (expense) benefit		(284	)		19
Net of tax	$	854		$	(56	)