ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

6 Months Ended

Jul. 12, 2014

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

3. ACCUMULATED OTHER 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.

During the twelve and twenty-eight weeks ended July 12, 2014 and July 13, 2013, reclassifications out of accumulated other comprehensive loss were as follows (amounts in thousands):

	Amount reclassified from Accumulated Other Comprehensive Loss
Details about accumulated other comprehensive income components (Note 2)	For the Twelve Weeks Ended July 12, 2014			For the Twelve Weeks Ended July 13, 2013			Affected Line Item in the Statement Where Net Income is Presented
Gains and losses on cash flow hedges:
Interest rate contracts	$	—		$	(254	)	Interest income (expense)
Commodity contracts		(661	)		(10,945	)	Cost of sales, Note 3
Total before tax	$	(661	)	$	(11,199	)	Total before tax
Tax (expense) or benefit		255			4,312		Tax (expense) or benefit
Total net of tax	$	(406	)	$	(6,887	)	Net of tax
Amortization of defined benefit pension items:
Prior-service credits	$	108		$	60		Note 1, below
Actuarial losses		(311	)		(1,241	)	Note 1, below
Total before tax	$	(203	)	$	(1,181	)	Total before tax
Tax (expense) or benefit		79			454		Tax (expense) or benefit
Total net of tax	$	(124	)	$	(727	)	Net of tax
Total reclassifications	$	(530	)	$	(7,614	)	Net of tax
	Amount reclassified from Accumulated Other Comprehensive Loss
Details about accumulated other comprehensive income components (Note 2)	For the Twenty-Eight Weeks Ended July 12, 2014			For the Twenty-Eight Weeks Ended July 13, 2013			Affected Line Item in the Statement Where Net Income is Presented
Gains and losses on cash flow hedges:
Interest rate contracts	$	—		$	(796	)	Interest income (expense)
Commodity contracts		(5,578	)		(12,040	)	Cost of sales, Note 3
Total before tax	$	(5,578	)	$	(12,836	)	Total before tax
Tax (expense) or benefit		2,148			4,942		Tax (expense) or benefit
Total net of tax	$	(3,430	)	$	(7,894	)	Net of tax
Amortization of defined benefit pension items:
Prior-service credits	$	252		$	139		Note 1, below
Actuarial losses		(725	)		(2,896	)	Note 1, below
Total before tax	$	(473	)	$	(2,757	)	Total before tax
Tax (expense) or benefit		183			1,061		Tax (expense) or benefit
Total net of tax	$	(290	)	$	(1,696	)	Net of tax
Total reclassifications	$	(3,720	)	$	(9,590	)	Net of tax

Note 1: These items are included in the computation of net periodic pension cost. See Note 13, 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.

During the twenty-eight weeks ended July 12, 2014, changes to accumulated other comprehensive loss, net of income tax, by component were as follows (amounts in thousands):

	Gains/Losses on Cash Flow Hedges			Defined Benefit Pension Plan Items			Total
Accumulated other comprehensive loss, December 28, 2013	$	(11,416	)	$	(51,099	)	$	(62,515	)
Other comprehensive income before reclassifications		(816	)		—			(816	)
Reclassified to earnings from accumulated other comprehensive loss		3,430			290			3,720
Accumulated other comprehensive loss, July 12, 2014	$	(8,802	)	$	(50,809	)	$	(59,611	)

During the twenty-eight weeks ended July 13, 2013, changes to accumulated other comprehensive loss, net of income tax, by component were as follows (amounts in thousands):

	Gains/Losses on Cash Flow Hedges			Defined Benefit Pension Plan Items			Total
Accumulated other comprehensive loss, December 29, 2012	$	(4,100	)	$	(110,567	)	$	(114,667	)
Other comprehensive income before reclassifications		(15,539	)		—			(15,539	)
Reclassified to earnings from accumulated other comprehensive loss		7,894			1,696			9,590
Accumulated other comprehensive loss, July 13, 2013	$	(11,745	)	$	(108,871	)	$	(120,616	)