Reclassifications Out of Accumulated Other Comprehensive Income

6 Months Ended

Mar. 28, 2021

Reclassifications Out of Accumulated Other Comprehensive Income

The accumulated balances and activities for the three and six months ended March 28, 2021 and March 29, 2020 related to reclassifications out of accumulated other comprehensive income are summarized as follows:


	Three Months Ended
	Foreign Currency Translation Adjustments		Gain (Loss) on Derivative Instruments		Accumulated Other Comprehensive Income (Loss)
	(in thousands)
Balance at December 29, 2019	$	(135,812)	$	(9,203)	$	(145,015)
Other comprehensive loss before reclassifications	(47,011)		(6,727)		(53,738)
Amounts reclassified from accumulated other comprehensive loss
Interest rate contracts, net of tax (1)	—		(638)		(638)
Net current-period other comprehensive loss	(47,011)		(7,365)		(54,376)
Balance at March 29, 2020	$	(182,823)	$	(16,568)	$	(199,391)

Balance at December 27, 2020	$	(113,884)	$	(14,035)	$	(127,919)
Other comprehensive income before reclassifications	10,973		3,382		14,355
Amounts reclassified from accumulated other comprehensive income
Interest rate contracts, net of tax (1)	—		(1,492)		(1,492)
Net current-period other comprehensive income	10,973		1,890		12,863
Balance at March 28, 2021	$	(102,911)	$	(12,145)	$	(115,056)

	Six Months Ended
	Foreign Currency Translation Adjustments		Gain (Loss) on Derivative Instruments		Accumulated Other Comprehensive Income (Loss)
	(in thousands)
Balance at September 29, 2019	$	(149,711)	$	(10,873)	$	(160,584)
Other comprehensive loss before reclassifications	(33,112)		(4,574)		(37,686)
Amounts reclassified from accumulated other comprehensive loss
Interest rate contracts, net of tax (1)	—		(1,121)		(1,121)
Net current-period other comprehensive loss	(33,112)		(5,695)		(38,807)
Balance at March 29, 2020	$	(182,823)	$	(16,568)	$	(199,391)

Balance at September 27, 2020	$	(146,275)	$	(15,511)	$	(161,786)
Other comprehensive income before reclassifications	43,364		6,360		49,724
Amounts reclassified from accumulated other comprehensive income
Interest rate contracts, net of tax (1)	—		(2,994)		(2,994)
Net current-period other comprehensive income	43,364		3,366		46,730
Balance at March 28, 2021	$	(102,911)	$	(12,145)	$	(115,056)

(1) This accumulated other comprehensive component is reclassified to “Interest expense” in our consolidated statements of income. See Note 14, “Derivative Financial Instruments”, for more information.