Accumulated Other Comprehensive Loss

6 Months Ended

Jun. 27, 2020

Changes in the fair value of the Company’s cash flow hedge derivative instruments from their inception are recorded in AOCL if the instruments are deemed to be highly effective as cash flow hedges. The following table presents the changes in AOCL during the three and six months ended June 27, 2020 and June 29, 2019, respectively:


	Three Months Ended						Six Months Ended
In thousands	June 27, 2020		June 29, 2019		June 27, 2020		June 29, 2019
Cash flow hedging activity:
Balance at beginning of period	$	(10,416)	$	(3,757)	$	(3,814)	$	(2,810)
Other comprehensive income (loss) before reclassification	(360)		(3,132)		(11,041)		(5,320)
Tax effect of other comprehensive income (loss) before reclassification	92		803		2,813		1,364
Amount reclassified from AOCL into interest expense	4,471		886		6,294		1,801
Tax effect of amount reclassified from AOCL into interest expense	(1,142)		(227)		(1,607)		(462)
Net current period other comprehensive income (loss), net of tax	3,061		(1,670)		(3,541)		(2,617)
Balance at end of period	$	(7,355)	$	(5,427)	$	(7,355)	$	(5,427)

See Note 3. “Fair Value Measurements of Financial Assets and Liabilities” for a description of the Company’s use of cash flow hedging derivatives.