Comprehensive Income (Loss)

9 Months Ended

Oct. 06, 2012

Comprehensive Income (Loss)

3. COMPREHENSIVE INCOME (LOSS)

The company’s total comprehensive income presently consists of net income, adjustments for our derivative financial instruments accounted for as cash flow hedges, and various pension and other postretirement benefit related items. Total comprehensive income, determined as net income adjusted by other comprehensive income, was $34.6 million and $119.4 million for the twelve and forty weeks ended October 6, 2012, respectively. Total comprehensive income was $21.2 million and $61.6 million for the twelve and forty weeks ended October 8, 2011, respectively.

During the forty weeks ended October 6, 2012, changes to accumulated other comprehensive loss, net of income tax, were as follows (amounts in thousands):

Accumulated other comprehensive loss, December 31, 2011	$	(112,047)
Derivative instruments transactions:
Loss reclassified to earnings (materials, labor and other production costs), net of income tax of $10,478		16,737
Net amount of gain recognized on the effective portion of cash flow hedges, net of income tax of $1,870		2,988
Pension and postretirement plans transactions:
Amortization of actuarial loss, net of income tax of $1,418		2,264
Amortization of prior service credits, net of income tax of $(77)		(121)
Accumulated other comprehensive loss, October 6, 2012	$	(90,179)

Amounts reclassified out of accumulated other comprehensive loss to net income that relate to commodity contracts are presented as an adjustment to reconcile net income to net cash provided by operating activities on the Condensed Consolidated Statements of Cash Flows. The gross amount reported on the Condensed Consolidated Statements of Cash Flows is $25.0 million. This is netted against the deferred tax amount of $9.6 million to yield the net amount of $15.4 million that can be found in the disclosures in Note 7, Derivatives, in the Amount of Gain or (Loss) Reclassified from Accumulated OCI Into Income (Effective Portion) table from the production costs disclosure.

The balance in accumulated other comprehensive income (loss) consists of the following:

	October 6, 2012		December 31, 2011
	(Amounts in thousands)
Derivatives designated as cash flow hedges	$	4,817	$	(14,908)
Pension and postretirement plans		(94,996)		(97,139)
Total	$	(90,179)	$	(112,047)