Accumulated Other Comprehensive Income (Loss)

3 Months Ended

Apr. 02, 2017

Equity [Abstract]

Accumulated Other Comprehensive Income (Loss)

15.Accumulated Other Comprehensive Income (Loss)

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

A summary of AOCI(L) for the first quarter of 2017 and the first quarter of 2016 is as follows:

(in thousands)	January 1, 2017			Pre-tax Activity			Tax Effect			April 2, 2017
Net pension activity:
Actuarial loss	$	(72,393	)	$	807		$	(311	)	$	(71,897	)
Prior service costs		(61	)		7			(3	)		(57	)
Net postretirement benefits activity:
Actuarial loss		(24,111	)		648			(250	)		(23,713	)
Prior service costs		3,679			(746	)		288			3,221
Foreign currency translation adjustment		(11	)		4			(2	)		(9	)
Total AOCI(L)	$	(92,897	)	$	720		$	(278	)	$	(92,455	)

(in thousands)	January 3, 2016			Pre-tax Activity			Tax Effect			April 3, 2016
Net pension activity:
Actuarial loss	$	(68,243	)	$	741		$	(286	)	$	(67,788	)
Prior service costs		(78	)		7			(3	)		(74	)
Net postretirement benefits activity:
Actuarial loss		(19,825	)		587			(227	)		(19,465	)
Prior service costs		5,744			(840	)		324			5,228
Foreign currency translation adjustment		(5	)		15			(5	)		5
Total AOCI(L)	$	(82,407	)	$	510		$	(197	)	$	(82,094	)

A summary of the impact of AOCI(L) on the income statement line items is as follows:

	First Quarter 2017
(in thousands)	Net Pension Activity		NetPostretirement Benefits Activity			Foreign Currency Translation Adjustment		Total
Cost of sales	$	155	$	(20	)	$	-	$	135
Selling, delivery & administrative expenses		659		(78	)		4		585
Subtotal pre-tax		814		(98	)		4		720
Income tax expense		314		(38	)		2		278
Total after tax effect	$	500	$	(60	)	$	2	$	442
	First Quarter 2016
(in thousands)	Net Pension Activity		NetPostretirement Benefits Activity			Foreign Currency Translation Adjustment		Total
Cost of sales	$	75	$	(38	)	$	-	$	37
Selling, delivery & administrative expenses		673		(215	)		15		473
Subtotal pre-tax		748		(253	)		15		510
Income tax expense		289		(97	)		5		197
Total after tax effect	$	459	$	(156	)	$	10	$	313