XML 64 R16.htm IDEA: XBRL DOCUMENT

Note 9 - Accumulated Other Comprehensive Income (Loss)

6 Months Ended

May 30, 2020

Accumulated Other Comprehensive Income (Loss) Disclosure [Text Block]

Note 9: Accumulated Other Comprehensive Income (Loss)

The following table provides details of total comprehensive income (loss):

	Three Months Ended May 30, 2020											Three Months Ended June 1, 2019
	H.B. Fuller Stockholders									Non-controlling Interest		H.B. Fuller Stockholders									Non-controlling Interest
	Pre-tax			Tax			Net			Net		Pre-tax			Tax			Net			Net
Net income including non-controlling interest		-			-		$	31,613		$	15		-			-		$	36,641		$	-
Foreign currency translation adjustment¹	$	(29,926	)		-			(29,926	)		4	$	(39,313	)		-			(39,313	)		(4	)
Defined benefit pension plans adjustment²		2,758		$	(688	)		2,070			-		1,982		$	(502	)		1,480			-
Interest rate swap³		(13,069	)		3,186			(9,883	)		-		(22,770	)		5,692			(17,078	)		-
Cross currency swaps³		5,994			(116	)		5,878			-		6,327			(225	)		6,102			-
Other comprehensive income (loss)	$	(34,243	)	$	2,382			(31,861	)		4	$	(53,774	)	$	4,965			(48,809	)		(4	)
Comprehensive income (loss)							$	(248	)	$	19							$	(12,168	)	$	(4	)

	Six Months Ended May 30, 2020											Six Months Ended June 1, 2019
	H.B. Fuller Stockholders									Non-controlling Interest		H.B. Fuller Stockholders									Non-controlling Interest
	Pretax			Tax			Net			Net		Pretax			Tax			Net			Net
Net income including non-controlling interest		-			-		$	41,508		$	26		-			-		$	48,885		$	4
Foreign currency translation adjustment¹	$	(32,706	)		-			(32,706	)		3	$	(21,620	)		-			(21,620	)		2
Reclassification to earnings:
Defined benefit pension plans adjustment²		5,537		$	(1,381	)		4,156			-		3,968		$	(1,006	)		2,962			-
Interest rate swap³		(24,970	)		6,088			(18,882	)		-		(38,029	)		9,507			(28,522	)		-
Cross currency swaps³		10,740			(218	)		10,522			-		10,611			(423	)		10,188			-
Other comprehensive income (loss)	$	(41,399	)	$	4,489			(36,910	)		3	$	(45,070	)	$	8,078			(36,992	)		2
Comprehensive income (loss)							$	4,598		$	29							$	11,893		$	6

¹ Income taxes are not provided for foreign currency translation relating to permanent investments in international subsidiaries.

² Loss reclassified from accumulated other comprehensive income ("AOCI") into earnings as part of net periodic cost related to pension and other postretirement benefit plans is reported in cost of sales and SG&A expense.

³ Income (loss) reclassified from AOCI into earnings is reported in other income (expense), net.

The components of accumulated other comprehensive loss is as follows:

May 30, 2020

Total

H.B. Fuller

Stockholders

Non-controlling

Interest

Foreign currency translation adjustment

(180,530

)

(180,422

)

(108

)

Interest rate swap, net of taxes of ($10,388)

(32,220

)

(32,220

)

Cash flow hedges, net of taxes of $241

12,285

Defined benefit pension plans adjustment, net of taxes of $80,511

(161,812

)

(161,812

)

Reclassification of AOCI tax effects

(18,341

)

(18,341

)

Accumulated other comprehensive loss

(380,618

)

(380,510

)

(108

)

	November 30, 2019
	Total			H.B. Fuller Stockholders			Non-controlling Interest
Foreign currency translation adjustment	$	(147,821	)	$	(147,716	)	$	(105	)
Interest rate swap, net of taxes of ($4,300)		(13,338	)		(13,338	)		-
Cash flow hedges, net of taxes of $21		1,763			1,763			-
Defined benefit pension plans adjustment, net of taxes of $81,891		(165,968	)		(165,968	)		-
Reclassification of AOCI tax effects		(18,341	)		(18,341	)		-
Accumulated other comprehensive loss	$	(343,705	)	$	(343,600	)	$	(105	)