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Accumulated Other Comprehensive Income (Loss)
 6 Months Ended
Jul. 02, 2022
Equity [Abstract]  
Accumulated Other Comprehensive Income (Loss)

 

NOTE 15. ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

The following table shows the components of accumulated other comprehensive income (loss) for the three and six months ended July 2, 2022 and July 3, 2021 (in thousands):

 

Three months ended July 2, 2022

 

Aluminum

 

 

MTP

 

 

 

 

(in thousands)

 

Contracts

 

 

Contracts

 

 

Total

 

Balance at April 2, 2022

 

$

6,784

 

 

$

3,205

 

 

$

9,989

 

Increase (decrease) in fair value of derivatives

 

 

(13,022

)

 

 

93

 

 

 

(12,929

)

Amounts reclassified from accumulated other comprehensive income (loss)

 

 

(1,210

)

 

 

(2,488

)

 

 

(3,698

)

Tax effect

 

 

3,602

 

 

 

668

 

 

 

4,270

 

Net current-period other comprehensive loss

 

 

(10,630

)

 

 

(1,727

)

 

 

(12,357

)

Balance at July 2, 2022

 

$

(3,846

)

 

$

1,478

 

 

$

(2,368

)

 

 

 

 

 

 

 

 

 

 

Six months ended July 2, 2022

 

Aluminum

 

 

MTP

 

 

 

 

(in thousands)

 

Contracts

 

 

Contracts

 

 

Total

 

Balance at January 1, 2022

 

$

3,610

 

 

$

3,396

 

 

$

7,006

 

Increase (decrease) in fair value of derivatives

 

 

(7,415

)

 

 

561

 

 

 

(6,854

)

Amounts reclassified from accumulated other comprehensive income (loss)

 

 

(2,588

)

 

 

(3,172

)

 

 

(5,760

)

Tax effect

 

 

2,547

 

 

 

693

 

 

 

3,240

 

Net current-period other comprehensive loss

 

 

(7,456

)

 

 

(1,918

)

 

 

(9,374

)

Balance at July 2, 2022

 

$

(3,846

)

 

$

1,478

 

 

$

(2,368

)

 

 

 

 

 

 

 

 

 

 

 

Three months ended July 3, 2021

 

Aluminum

 

 

MTP

 

 

 

 

(in thousands)

 

Contracts

 

 

Contracts

 

 

Total

 

Balance at April 3, 2021

 

$

4,428

 

 

$

3,187

 

 

$

7,615

 

Increase (decrease) in fair value of derivatives

 

 

5,108

 

 

 

3,965

 

 

 

9,073

 

Amounts reclassified from accumulated other comprehensive income (loss)

 

 

(2,764

)

 

 

(1,369

)

 

 

(4,133

)

Tax effect

 

 

(581

)

 

 

(644

)

 

 

(1,225

)

Net current-period other comprehensive income

 

 

1,763

 

 

 

1,952

 

 

 

3,715

 

Balance at July 3, 2021

 

$

6,191

 

 

$

5,139

 

 

$

11,330

 

 

 

 

 

 

 

 

 

 

 

Six months ended July 3, 2021

 

Aluminum

 

 

MTP

 

 

 

 

(in thousands)

 

Contracts

 

 

Contracts

 

 

Total

 

Balance at January 2, 2021

 

$

2,403

 

 

$

317

 

 

$

2,720

 

Increase (decrease) in fair value of derivatives

 

 

9,191

 

 

 

8,170

 

 

 

17,361

 

Amounts reclassified from accumulated other comprehensive income (loss)

 

 

(4,152

)

 

 

(1,756

)

 

 

(5,908

)

Tax effect

 

 

(1,251

)

 

 

(1,592

)

 

 

(2,843

)

Net current-period other comprehensive income

 

 

3,788

 

 

 

4,822

 

 

 

8,610

 

Balance at July 3, 2021

 

$

6,191

 

 

$

5,139

 

 

$

11,330