Accumulated Other Comprehensive Income (Loss)

6 Months Ended

Apr. 02, 2022

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Accumulated Other Comprehensive Income (Loss)

Accumulated Other Comprehensive Income (Loss)

The changes in AOCIL, net of tax, by component for the six months ended April 2, 2022 are as follows:

	Accumulated foreign currency translation		Accumulated retirement liability		Accumulated gain (loss) on derivatives		Total
AOCIL at October 2, 2021	$	(92,989)	$	(153,210)	$	(1,361)	$	(247,560)
OCI before reclassifications	(24,798)		1,598		(624)		(23,824)
Amounts reclassified from AOCIL	(45)		7,030		464		7,449
OCI, net of tax	(24,843)		8,628		(160)		(16,375)
AOCIL at April 2, 2022	$	(117,832)	$	(144,582)	$	(1,521)	$	(263,935)

Net gains and losses on net investment hedges are recorded in Accumulated foreign currency translation to the extent that the instruments are effective in hedging the designated risk.

The amounts reclassified from AOCIL into earnings are as follows:

		Three Months Ended				Six Months Ended
	Statements of Earnings location	April 2, 2022		April 3, 2021		April 2, 2022		April 3, 2021
Retirement liability:
Prior service cost		$	15	$	16	$	30	$	14
Actuarial losses		4,583		4,705		9,183		9,394
Curtailment gain		—		(5,830)		—		(5,830)
Reclassification from AOCIL into earnings		4,598		(1,109)		9,213		3,578
Tax effect		(1,090)		(1,121)		(2,183)		(2,239)
Net reclassification from AOCIL into earnings		$	3,508	$	(2,230)	$	7,030	$	1,339
Derivatives:
Foreign currency contracts	Sales	$	176	$	(80)	$	244	$	(52)
Foreign currency contracts	Cost of sales	299		(548)		349		(1,105)
Reclassification from AOCIL into earnings		475		(628)		593		(1,157)
Tax effect		(105)		145		(129)		271
Net reclassification from AOCIL into earnings		$	370	$	(483)	$	464	$	(886)

Reclassification from AOCIL into earnings for the Retirement liability are included in the computation of non-service pension expense, which is included in Other on the Consolidated Condensed Statement of Earnings.

The effective portion of amounts deferred in AOCIL are as follows:

	Three Months Ended				Six Months Ended
	April 2, 2022		April 3, 2021		April 2, 2022		April 3, 2021
Foreign currency contracts	$	(857)	$	(283)	$	(802)	$	348
Net gain (loss)	(857)		(283)		(802)		348
Tax effect	192		64		178		(66)
Net deferral in AOCIL of derivatives	$	(665)	$	(219)	$	(624)	$	282