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

9 Months Ended

Oct. 05, 2024

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

Summary of Reclassifications Out of AOCI

During the twelve and forty weeks ended October 5, 2024 and October 7, 2023, 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)	October 5, 2024			October 7, 2023			Where Net Income (loss) is Presented
Derivative instruments:
Interest rate contracts	$	115		$	115		Interest expense
Commodity contracts		(285	)		(511	)	Cost of sales, Note 3
Total before tax		(170	)		(396	)	Total before tax
Tax benefit		42			99		Income tax expense
Total net of tax		(128	)		(297	)	Net of tax
Pension and postretirement plans:
Prior-service credits		41			40		Note 1
Actuarial gain losses		31			17		Note 1
Total before tax		72			57		Total before tax
Tax expense		(17	)		(13	)	Income tax expense
Total net of tax		55			44		Net of tax
Total reclassifications	$	(73	)	$	(253	)	Net of tax
	Amount Reclassified from AOCI
	For the Forty Weeks Ended						Affected Line Item in the Statement
Details about AOCI Components (Note 2)	October 5, 2024			October 7, 2023			Where Net Income (Loss) is Presented
Gains and losses on cash flow hedges:
Interest rate contracts	$	383		$	383		Interest expense
Commodity contracts		(1,314	)		(2,426	)	Cost of sales, Note 3
Total before tax		(931	)		(2,043	)	Total before tax
Tax benefit		232			511		Tax benefit
Total net of tax		(699	)		(1,532	)	Net of tax
Amortization of defined benefit pension items:
Prior-service costs		136			135		Note 1
Actuarial losses		105			57		Note 1
Total before tax		241			192		Total before tax
Tax benefit		(59	)		(47	)	Tax benefit
Total net of tax		182			145		Net of tax
Total reclassifications	$	(517	)	$	(1,387	)	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 (Loss). 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 forty weeks ended October 5, 2024, 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 30, 2023	$	963	$	(342	)	$	621
Other comprehensive income before reclassifications		1,101		—			1,101
Reclassified to earnings from AOCI		699		(182	)		517
AOCI at October 5, 2024	$	2,763	$	(524	)	$	2,239

During the forty weeks ended October 7, 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 income before reclassifications		(1,531	)		—			(1,531	)
Reclassified to earnings from AOCI		1,532			(145	)		1,387
AOCI at October 7, 2023	$	2,100		$	(770	)	$	1,330

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 Forty Weeks Ended
	October 5, 2024			October 7, 2023
Gross loss reclassified from AOCI into net income	$	(1,314	)	$	(2,426	)
Tax benefit		329			607
Net of tax	$	(985	)	$	(1,819	)