Accumulated Other Comprehensive Income (Loss)

12 Months Ended

Dec. 31, 2021

Equity [Abstract]

Accumulated Other Comprehensive Income (Loss)

Accumulated Other Comprehensive Income (Loss)Accumulated other comprehensive income (loss) (“AOCI(L)”) is comprised of adjustments to the Company’s pension and postretirement medical benefit plans and the foreign currency translation for a subsidiary of the Company that performs data analysis and provides consulting services outside the United States.

Following is a summary of AOCI(L) for 2021, 2020 and 2019:

			Gains (Losses) During the Period				Reclassification to Income
(in thousands)	December 31, 2020		Pre-tax Activity		Tax Effect		Pre-tax Activity		Tax Effect		December 31, 2021
Net pension activity:
Actuarial loss	$	(93,847)	$	14,897	$	(3,658)	$	4,954	$	(1,228)	$	(78,882)
Prior service credits	8		—		—		3		—		11
Net postretirement benefits activity:
Actuarial loss	(4,328)		3,414		(838)		682		(169)		(1,239)
Prior service costs	(624)		—		—		—		—		(624)
Interest rate swap(1)	(556)		—		—		739		(183)		—
Foreign currency translation adjustment	14		—		—		(32)		9		(9)
Reclassification of stranded tax effects	(19,720)		—		—		—		—		(19,720)
Total AOCI(L)	$	(119,053)	$	18,311	$	(4,496)	$	6,346	$	(1,571)	$	(100,463)

(1)In 2019, the Company entered into a $100 million fixed rate swap to hedge a portion of the interest rate risk on the 2016 Term Loan Facility, both of which matured on June 7, 2021. This interest rate swap was designated as a cash flow hedging instrument and changes in its fair value were not material to the consolidated balance sheets.

			Gains (Losses) During the Period				Reclassification to Income
(in thousands)	December 29, 2019		Pre-tax Activity		Tax Effect		Pre-tax Activity		Tax Effect		December 31, 2020
Net pension activity:
Actuarial loss	$	(93,174)	$	(5,521)	$	1,369	$	4,619	$	(1,140)	$	(93,847)
Prior service credits (costs)	(7)		—		—		19		(4)		8
Net postretirement benefits activity:
Actuarial loss	(1,191)		(4,555)		1,129		383		(94)		(4,328)
Prior service costs	(624)		—		—		—		—		(624)
Interest rate swap	(270)		—		—		(378)		92		(556)
Foreign currency translation adjustment	(16)		—		—		41		(11)		14
Reclassification of stranded tax effects	(19,720)		—		—		—		—		(19,720)
Total AOCI(L)	$	(115,002)	$	(10,076)	$	2,498	$	4,684	$	(1,157)	$	(119,053)

			Gains (Losses) During the Period				Reclassification to Income
(in thousands)	December 30, 2018		Pre-tax Activity		Tax Effect		Pre-tax Activity		Tax Effect		December 29, 2019
Net pension activity:
Actuarial loss	$	(72,690)	$	(30,855)	$	7,590	$	3,688	$	(907)	$	(93,174)
Prior service costs	(24)		—		—		22		(5)		(7)
Net postretirement benefits activity:
Actuarial loss	(4,902)		4,192		(1,031)		730		(180)		(1,191)
Prior service credits (costs)	351		—		—		(1,293)		318		(624)
Interest rate swap	—		—		—		(359)		89		(270)
Foreign currency translation adjustment	—		—		—		(19)		3		(16)
Reclassification of stranded tax effects	—		—		(19,720)		—		—		(19,720)
Total AOCI(L)	$	(77,265)	$	(26,663)	$	(13,161)	$	2,769	$	(682)	$	(115,002)

Following is a summary of the impact of AOCI(L) on the consolidated statements of operations:

	Fiscal Year 2021
(in thousands)	Net Pension Activity		Net Postretirement Benefits Activity		Interest Rate Swap		Foreign Currency Translation Adjustment		Total
Cost of sales	$	1,341	$	496	$	—	$	—	$	1,837
Selling, delivery and administrative expenses	3,616		186		739		(32)		4,509
Subtotal pre-tax	4,957		682		739		(32)		6,346
Income tax expense	1,228		169		183		(9)		1,571
Total after tax effect	$	3,729	$	513	$	556	$	(23)	$	4,775

	Fiscal Year 2020
(in thousands)	Net Pension Activity		Net Postretirement Benefits Activity		Interest Rate Swap		Foreign Currency Translation Adjustment		Total
Cost of sales	$	1,393	$	146	$	—	$	—	$	1,539
Selling, delivery and administrative expenses	3,245		237		(378)		41		3,145
Subtotal pre-tax	4,638		383		(378)		41		4,684
Income tax expense	1,144		94		(92)		11		1,157
Total after tax effect	$	3,494	$	289	$	(286)	$	30	$	3,527

	Fiscal Year 2019
(in thousands)	Net Pension Activity		Net Postretirement Benefits Activity		Interest Rate Swap		Foreign Currency Translation Adjustment		Total
Cost of sales	$	1,003	$	(211)	$	—	$	—	$	792
Selling, delivery and administrative expenses	2,707		(352)		(359)		(19)		1,977
Subtotal pre-tax	3,710		(563)		(359)		(19)		2,769
Income tax expense	912		(138)		(89)		(3)		682
Total after tax effect	$	2,798	$	(425)	$	(270)	$	(16)	$	2,087