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STOCKHOLDERS' EQUITY
 6 Months Ended
Jul. 01, 2018
Equity [Abstract]  
STOCKHOLDERS' EQUITY
STOCKHOLDERS' EQUITY
Accumulated Other Comprehensive Income (Loss)
The following tables provide information regarding the changes in accumulated other comprehensive income (loss):
 
Twenty-Six Weeks Ended July 1, 2018(a)
 
Gains Related to Foreign Currency Translation
 
Unrealized Losses on Derivative Financial Instruments Classified as Cash Flow Hedges
 
Losses Related to Pension and Other Postretirement Benefits
 
Unrealized Holding Gains on Available-for-Sale Securities
 
Total
 
(In thousands)
Balance, beginning of period
$
42,081

 
$
(1,848
)
 
$
(71,434
)
 
$
61

 
$
(31,140
)
Other comprehensive income (loss):
 
 
 
 
 
 
 
 
 
Other comprehensive income (loss) before
reclassifications
(38,507
)
 
(97
)
 
4,987

 
932

 
(32,685
)
Amounts reclassified from accumulated other
comprehensive income (loss) to net income
—

 
472

 
455

 
(680
)
 
247

Impact of currency translation
—

 
(6
)
 
—

 
—

 
(6
)
Net other comprehensive income (loss)
(38,507
)
 
369

 
5,442

 
252

 
(32,444
)
     Balance, end of period
$
3,574

 
$
(1,479
)
 
$
(65,992
)
 
$
313

 
$
(63,584
)
 
Twenty-Six Weeks Ended June 25, 2017(a)
 
Losses Related to Foreign Currency Translation
 
Unrealized Gains on Derivative Financial Instruments Classified as Cash Flow Hedges
 
Losses Related to Pension and Other Postretirement Benefits
 
Unrealized Holding Gains on Available-for-Sale Securities
 
Total
 
(In thousands)
Balance, beginning of period
$
(265,714
)
 
$
99

 
$
(64,243
)
 
$
—

 
$
(329,858
)
Comprehensive income (loss):
 
 
 
 
 
 
 
 
 
Other comprehensive income (loss) before
reclassifications
67,096

 
698

 
(2,784
)
 
—

 
65,010

Amounts reclassified from accumulated other
comprehensive income (loss) to net income
—

 
(67
)
 
290

 
—

 
223

Impact of currency translation
—

 
20

 
—

 
—

 
20

Net other comprehensive income (loss)
67,096

 
651

 
(2,494
)
 
—

 
65,253

     Balance, end of period
$
(198,618
)
 
$
750

 
$
(66,737
)
 
$
—

 
$
(264,605
)
(a)
All amounts are net of tax. Amounts in parentheses indicate debits to accumulated other comprehensive income (loss).
 
 
Amounts Reclassified from Accumulated Other Comprehensive Loss(a)
 
 
Details about Accumulated Other Comprehensive Loss Components
 
Twenty-Six Weeks Ended 
 July 1, 2018
 
Twenty-Six Weeks Ended 
 June 25, 2017
 
Affected Line Item in the Condensed Consolidated and Combined Statements of Income
 
 
(In thousands)
 
 
Realized loss on settlement of derivative
     financial instruments classified as cash flow
     hedges
 
$
(472
)
 
$
67

 
Cost of sales
Realized gain on sale of securities
 
899

 
—

 
Interest income
Amortization of defined benefit pension
     and other postretirement plan actuarial
     losses:
 
 
 
 
 
 
Union employees pension plan(b)(d)
 
(24
)
 
(12
)
 
Cost of sales
Legacy Gold Kist plans(c)(d)
 
(180
)
 
(142
)
 
Cost of sales
Legacy Gold Kist plans(c)(d)
 
(397
)
 
(312
)
 
Selling, general and administrative expense
          Total before tax
 
(174
)
 
(399
)
 
 
Tax benefit
 
(73
)
 
176

 
 
          Total reclassification for the period
 
$
(247
)
 
$
(223
)
 
 

(a)
Amounts in parentheses represent debits to results of operations.
(b)
The Company sponsors the Union Plan, a qualified defined benefit pension plan covering certain locations or work groups with collective bargaining agreements.
(c)
The Company sponsors the GK Pension Plan, a qualified defined benefit pension plan covering certain eligible U.S. employees who were employed at locations that the Company purchased through its acquisition of Gold Kist in 2007, the SERP Plan, a nonqualified defined benefit retirement plan covering certain former Gold Kist executives, the Directors’ Emeriti Plan, a nonqualified defined benefit retirement plan covering certain former Gold Kist directors and the Retiree Life Plan, a defined benefit postretirement life insurance plan covering certain retired Gold Kist employees (collectively, the “Legacy Gold Kist Plans”).
(d)
These accumulated other comprehensive loss components are included in the computation of net periodic pension cost. See “Note 14. Pension and Other Postretirement Benefits” to the Condensed Consolidated and Combined Financial Statements.
Restrictions on Dividends
The U.S. Credit Facility, the 2015 Indenture governing the Senior Notes due 2025 and the 2017 Indenture governing the Senior Notes due 2027 restrict, but do not prohibit, the Company from declaring dividends.