XML 25 R14.htm IDEA: XBRL DOCUMENT

Note 7 - Accumulated Other Comprehensive Income (Loss)

6 Months Ended

May 28, 2022

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

Note 7: Accumulated Other Comprehensive Income (Loss)

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

	*Three Months Ended May 28, 2022*												*Three Months Ended May 29, 2021*
										*Non-*												*Non-*
										*controlling*												*controlling*
	*H.B. Fuller Stockholders*									*Interest*			*H.B. Fuller Stockholders*									*Interest*
	*Pre-tax*			*Tax*			*Net*			*Net*			*Pre-tax*			*Tax*			*Net*			*Net*
Net income attributable to H.B. Fuller and non-controlling interest							$	47,203		$	24								$	49,102		$	22
Foreign currency translation adjustment¹	$	(84,098	)	$	-			(84,098	)		(12	)	$	55,512		$	-			55,512			12
Defined benefit pension plans adjustment²		3,872			(1,069	)		2,803			-			1,851			(480	)		1,371			-
Interest rate swap³		4,435			(1,088	)		3,347			-			4,721			(1,157	)		3,564			-
Cross currency swaps³		(1,228	)		18			(1,210	)		-			(1,258	)		17			(1,241	)		-
Other comprehensive income (loss)	$	(77,019	)	$	(2,139	)	$	(79,158	)	$	(12	)	$	60,826		$	(1,620	)	$	59,206		$	12
Comprehensive income (loss)							$	(31,955	)	$	12								$	108,308		$	34

	*Six Months Ended May 28, 2022*												*Six Months Ended May 29, 2021*
										*Non-*												*Non-*
										*controlling*												*controlling*
	*H.B. Fuller Stockholders*									*Interest*			*H.B. Fuller Stockholders*									*Interest*
	*Pretax*			*Tax*			*Net*			*Net*			*Pretax*			*Tax*			*Net*			*Net*
Net income attributable to H.B. Fuller and non-controlling interest							$	85,509		$	37								$	78,893		$	37
Foreign currency translation adjustment¹	$	(77,558	)	$	-			(77,558	)		(21	)	$	78,659		$	-			78,659			2
Defined benefit pension plans adjustment²		4,705			(1,413	)		3,292			-			3,706			(960	)		2,746			-
Interest rate swap³		12,690			(3,112	)		9,578			-			10,258			(2,514	)		7,744			-
Cross currency swaps³		(3,343	)		50			(3,293	)		-			(2,320	)		33			(2,287	)		-
Other comprehensive income (loss)	$	(63,506	)	$	(4,475	)	$	(67,981	)		(21	)	$	90,303		$	(3,441	)		86,862			2
Comprehensive income							$	17,528		$	16								$	165,755		$	39

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, net.

The components of accumulated other comprehensive loss are as follows:

May 28, 2022

Non-

H.B. Fuller

controlling

Total

Stockholders

Interest

Foreign currency translation adjustment

(209,916

)

(209,825

)

(91

)

Interest rate swap, net of taxes of $112

(346

)

(346

)

Cash flow hedges, net of taxes of ($3)

190

Defined benefit pension plans adjustment, net of taxes of $42,292

(109,906

)

(109,906

)

Reclassification of AOCI tax effects

(18,341

)

(18,341

)

Accumulated other comprehensive loss

(338,319

)

(338,228

)

(91

)

	*November 27, 2021*
							*Non-*
				*H.B. Fuller*			*controlling*
	*Total*			*Stockholders*			*Interest*
Foreign currency translation adjustment	$	(132,370	)	$	(132,267	)	$	(103	)
Interest rate swap, net of taxes of $3,224		(9,924	)		(9,924	)		-
Cash flow hedges, net of taxes of ($53)		3,483			3,483			-
Defined benefit pension plans adjustment, net of taxes of $63,925		(113,198	)		(113,198	)		-
Reclassification of AOCI tax effects		(18,341	)		(18,341	)		-
Accumulated other comprehensive loss	$	(270,350	)	$	(270,247	)	$	(103	)