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Note 8 - Accumulated Other Comprehensive Income (Loss)

3 Months Ended

Mar. 04, 2023

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

Note 8: Accumulated Other Comprehensive Income (Loss)

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

	*Three Months Ended March 4, 2023*											*Three Months Ended February 26, 2022*
										*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							$	21,889		$	27							$	38,306		$	14
Foreign currency translation¹	$	(3,646	)	$	-			(3,646	)		10	$	6,540		$	-			6,540			(10	)
Defined benefit pension plans adjustment²		1,141			(290	)		851			-		833			(344	)		489			-
Interest rate swaps³		11,055			(2,720	)		8,335			-		8,255			(2,024	)		6,231			-
Cross-currency swaps³		-			-			-			-		(2,115	)		32			(2,083	)		-
Net investment hedges³		(397	)		98			(299	)		-		-			-			-			-
Other comprehensive income	$	8,153		$	(2,912	)	$	5,241		$	10	$	13,513		$	(2,336	)	$	11,177		$	(10	)
Comprehensive income							$	27,130		$	37							$	49,483		$	4

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:

March 4, 2023

Non-

H.B. Fuller

controlling

Total

Stockholders

Interest

Foreign currency translation adjustment

(267,710

)

(267,658

)

(52

)

Interest rate swap, net of taxes of ($2,720)

8,335

Net investment hedges, net of taxes of $13,395

(41,042

)

(41,042

)

Defined benefit pension plans adjustment, net of taxes of $67,454

(127,410

)

(127,410

)

Reclassification of AOCI tax effects

(18,341

)

(18,341

)

Accumulated other comprehensive loss

(446,168

)

(446,116

)

(52

)

	*December 3, 2022*
							*Non-*
				*H.B. Fuller*			*controlling*
	*Total*			*Stockholders*			*Interest*
Foreign currency translation adjustment	$	(264,054	)	$	(264,012	)	$	(42	)
Net investment hedges, net of taxes of $13,297		(40,743	)		(40,743	)		-
Defined benefit pension plans adjustment, net of taxes of $67,744		(128,261	)		(128,261	)		-
Reclassification of AOCI tax effects		(18,341	)		(18,341	)		-
Accumulated other comprehensive loss	$	(451,399	)	$	(451,357	)	$	(42	)