Reclassifications Out of Accumulated Other Comprehensive Income (Tables)

9 Months Ended

Jun. 27, 2021

Summary of reclassifications out of accumulated other comprehensive income

The accumulated balances and activities for the three and nine months ended June 27, 2021 and June 28, 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 March 29, 2020	$	(182,822)	$	(16,569)	$	(199,391)
Other comprehensive income before reclassifications	21,689		1,279		22,968
Amounts reclassified from accumulated other comprehensive loss
Interest rate contracts, net of tax (1)	—		(1,309)		(1,309)
Net current-period other comprehensive income (loss)	21,689		(30)		21,659
Balance at June 28, 2020	$	(161,133)	$	(16,599)	$	(177,732)

Balance at March 28, 2021	$	(102,911)	$	(12,145)	$	(115,056)
Other comprehensive income before reclassifications	11,157		2,981		14,138
Amounts reclassified from accumulated other comprehensive loss
Interest rate contracts, net of tax (1)	—		(1,483)		(1,483)
Net current-period other comprehensive income	11,157		1,498		12,655
Balance at June 27, 2021	$	(91,754)	$	(10,647)	$	(102,401)

	Nine 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	(11,422)		(3,200)		(14,622)
Amounts reclassified from accumulated other comprehensive loss
Interest rate contracts, net of tax (1)	—		(2,526)		(2,526)
Net current-period other comprehensive loss	(11,422)		(5,726)		(17,148)
Balance at June 28, 2020	$	(161,133)	$	(16,599)	$	(177,732)

Balance at September 27, 2020	$	(146,275)	$	(15,511)	$	(161,786)
Other comprehensive income before reclassifications	54,521		9,341		63,862
Amounts reclassified from accumulated other comprehensive loss
Interest rate contracts, net of tax (1)	—		(4,477)		(4,477)
Net current-period other comprehensive income	54,521		4,864		59,385
Balance at June 27, 2021	$	(91,754)	$	(10,647)	$	(102,401)

(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.