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

6 Months Ended

Jul. 15, 2023

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Summary of Reclassifications Out of AOCI

During the twelve and twenty-eight weeks ended July 15, 2023 and July 16, 2022, reclassifications out of AOCI were as follows (amounts in thousands):

	Amount Reclassified from AOCI
	For the Twelve Weeks Ended						Affected Line Item in the Statement
Details about AOCI Components (Note 2)	July 15, 2023			July 16, 2022			Where Net Income is Presented
Derivative instruments:
Interest rate contracts	$	115		$	115		Interest expense
Commodity contracts		(509	)		2,059		Cost of sales, Note 3
Total before tax		(394	)		2,174		Total before tax
Tax benefit (expense)		99			(544	)	Income tax expense
Total net of tax		(295	)		1,630		Net of tax
Pension and postretirement plans:
Prior-service credits		40			41		Note 1
Actuarial gain (losses)		17			(66	)	Note 1
Total before tax		57			(25	)	Total before tax
Tax (expense) benefit		(15	)		7		Income tax expense
Total net of tax		42			(18	)	Net of tax
Total reclassifications	$	(253	)	$	1,612		Net of tax

	Amount Reclassified from AOCI
	For the Twenty-Eight Weeks Ended						Affected Line Item in the Statement
Details about AOCI Components (Note 2)	July 15, 2023			July 16, 2022			Where Net Income is Presented
Derivative instruments:
Interest rate contracts	$	268		$	268		Interest expense
Commodity contracts		(1,915	)		3,197		Cost of sales, Note 3
Total before tax		(1,647	)		3,465		Total before tax
Tax benefit (expense)		412			(866	)	Income tax expense
Total net of tax		(1,235	)		2,599		Net of tax
Pension and postretirement plans:
Prior-service credits		95			96		Note 1
Actuarial gain (losses)		40			(154	)	Note 1
Total before tax		135			(58	)	Total before tax
Tax (expense) benefit		(34	)		15		Income tax expense
Total net of tax		101			(43	)	Net of tax
Total reclassifications	$	(1,134	)	$	2,556		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 18, Postretirement Plans, 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 twenty-eight weeks ended July 15, 2023, 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 December 31, 2022	$	2,099	$	(625	)	$	1,474
Other comprehensive loss before reclassifications		48		—			48
Reclassified to earnings from AOCI		1,235		(101	)		1,134
AOCI at July 15, 2023	$	3,382	$	(726	)	$	2,656

During the twenty-eight weeks ended July 16, 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 income before reclassifications		(5,197	)		—			(5,197	)
Reclassified to earnings from AOCI		(2,599	)		43			(2,556	)
AOCI at July 16, 2022	$	(1,753	)	$	(3,413	)	$	(5,166	)

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 Twenty-Eight Weeks Ended
	July 15, 2023			July 16, 2022
Gross (loss) gain reclassified from AOCI into net    income	$	(1,915	)	$	3,197
Tax benefit (expense)		479			(799	)
Net of tax	$	(1,436	)	$	2,398