Accumulated Other Comprehensive Loss

6 Months Ended

Jun. 25, 2017

Equity [Abstract]

Accumulated Other Comprehensive Loss

Accumulated Other Comprehensive Loss

The following tables set forth the changes in accumulated other comprehensive loss (AOCL) (in thousands):

	Three months ended June 25, 2017
	Foreign currency translation adjustments			Marketable securities			Derivative financial instruments			Pension and postretirement benefit plans			Total
Balance, beginning of period	$	(52,575	)	$	(1,204	)	$	3,472		$	(501,323	)	$	(551,630	)
Other comprehensive income (loss) before reclassifications	9,447			1,912			(12,650		)	—			(1,291		)
Income tax expense (benefit)	190			(708		)	4,678			—			4,160
Net other comprehensive income (loss) before reclassifications	9,637			1,204			(7,972		)	—			2,869
Reclassifications:
Realized (gains) losses - foreign currency contracts(a)	—			—			(3,957		)	—			(3,957		)
Realized (gains) losses - commodities contracts(a)	—			—			(17		)	—			(17		)
Realized (gains) losses - treasury rate lock(b)	—			—			99			—			99
Prior service credits(c)	—			—			—			(289		)	(289		)
Actuarial losses(c)	—			—			—			11,813			11,813
Total reclassifications before tax	—			—			(3,875		)	11,524			7,649
Income tax expense (benefit)	—			—			1,435			(4,268		)	(2,833		)
Net reclassifications	—			—			(2,440		)	7,256			4,816
Other comprehensive income (loss)	9,637			1,204			(10,412		)	7,256			7,685
Balance, end of period	$	(42,938	)	$	—		$	(6,940	)	$	(494,067	)	$	(543,945	)

	Three months ended June 26, 2016
	Foreign currency translation adjustments			Marketable securities			Derivative financial instruments			Pension and postretirement benefit plans			Total
Balance, beginning of period	$	(46,151	)	$	(1,139	)	$	(2,466	)	$	(553,582	)	$	(603,338	)
Other comprehensive income (loss) before reclassifications	2,516			(51		)	8,136			—			10,601
Income tax expense (benefit)	112			19			(3,014		)	—			(2,883		)
Net other comprehensive income (loss) before reclassifications	2,628			(32		)	5,122			—			7,718
Reclassifications:
Realized (gains) losses - foreign currency contracts(a)	—			—			(3,551		)	—			(3,551		)
Realized (gains) losses - commodities contracts(a)	—			—			104			—			104
Realized (gains) losses - treasury rate lock(b)	—			—			90			—			90
Prior service credits(c)	—			—			—			(446		)	(446		)
Actuarial losses(c)	—			—			—			12,472			12,472
Total reclassifications before tax	—			—			(3,357		)	12,026			8,669
Income tax expense (benefit)	—			—			1,244			(4,454		)	(3,210		)
Net reclassifications	—			—			(2,113		)	7,572			5,459
Other comprehensive income (loss)	2,628			(32		)	3,009			7,572			13,177
Balance, end of period	$	(43,523	)	$	(1,171	)	$	543		$	(546,010	)	$	(590,161	)

	Six months ended June 25, 2017
	Foreign currency translation adjustments			Marketable securities			Derivative financial instruments			Pension and postretirement benefit plans			Total
Balance, beginning of period	$	(68,132	)	$	(1,194	)	$	12,524		$	(508,579	)	$	(565,381	)
Other comprehensive income (loss) before reclassifications	25,080			1,896			(24,553		)	—			2,423
Income tax expense (benefit)	114			(702		)	9,087			—			8,499
Net other comprehensive income (loss) before reclassifications	25,194			1,194			(15,466		)	—			10,922
Reclassifications:
Realized (gains) losses - foreign currency contracts(a)	—			—			(6,473		)	—			(6,473		)
Realized (gains) losses - commodities contracts(a)	—			—			(65		)	—			(65		)
Realized (gains) losses - treasury rate lock(b)	—			—			189			—			189
Prior service credits(c)	—			—			—			(578		)	(578		)
Actuarial losses(c)	—			—			—			23,626			23,626
Total reclassifications before tax	—			—			(6,349		)	23,048			16,699
Income tax expense (benefit)	—			—			2,351			(8,536		)	(6,185		)
Net reclassifications	—			—			(3,998		)	14,512			10,514
Other comprehensive income (loss)	25,194			1,194			(19,464		)	14,512			21,436
Balance, end of period	$	(42,938	)	$	—		$	(6,940	)	$	(494,067	)	$	(543,945	)

	Six months ended June 26, 2016
	Foreign currency translation adjustments			Marketable securities			Derivative financial instruments			Pension and postretirement benefit plans			Total
Balance, beginning of period	$	(58,844	)	$	(1,094	)	$	5,886		$	(561,153	)	$	(615,205	)
Other comprehensive income (loss) before reclassifications	17,087			(122		)	(4,580		)	—			12,385
Income tax (benefit) expense	(1,766		)	45			1,696			—			(25		)
Net other comprehensive income (loss) before reclassifications	15,321			(77		)	(2,884		)	—			12,360
Reclassifications:
Realized (gains) losses - foreign currency contracts(a)	—			—			(4,407		)	—			(4,407		)
Realized (gains) losses - commodities contracts(a)	—			—			319			—			319
Realized (gains) losses - treasury rate lock(b)	—			—			181			—			181
Prior service credits(c)	—			—			—			(892		)	(892		)
Actuarial losses(c)	—			—			—			24,944			24,944
Total reclassifications before tax	—			—			(3,907		)	24,052			20,145
Income tax expense (benefit)	—			—			1,448			(8,909		)	(7,461		)
Net reclassifications	—			—			(2,459		)	15,143			12,684
Other comprehensive income (loss)	15,321			(77		)	(5,343		)	15,143			25,044
Balance, end of period	$	(43,523	)	$	(1,171	)	$	543		$	(546,010	)	$	(590,161	)

(a) Amounts reclassified to net income are included in Motorcycles and Related Products cost of goods sold.

(b) Amounts reclassified to net income are included in interest expense.

(c) Amounts reclassified are included in the computation of net periodic benefit cost. See Note 13 for information related to pension and postretirement benefit plans.