Reclassifications Out of Accumulated Other Comprehensive Income (Tables)

9 Months Ended

Jul. 03, 2022

Summary of reclassifications out of accumulated other comprehensive income

The accumulated balances and activities for the three and nine months ended July 3, 2022 and June 27, 2021 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 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)

Balance at April 3, 2022	$	(113,513)	$	(1,790)	$	(115,303)
Other comprehensive income (loss) before reclassifications	(44,883)		3,413		(41,470)
Amounts reclassified from accumulated other comprehensive loss
Interest rate contracts, net of tax (1)	—		(1,033)		(1,033)
Net current-period other comprehensive income (loss)	(44,883)		2,380		(42,503)


Balance at July 3, 2022	$	(158,396)	$	590	$	(157,806)

	Nine Months Ended
	Foreign Currency Translation Adjustments		Gain (Loss) on Derivative Instruments		Accumulated Other Comprehensive Income (Loss)
	(in thousands)
Balance at September 27, 2020	$	(146,275)	$	(15,511)	$	(161,786)
Other comprehensive loss 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)

Balance at October 3, 2021	$	(115,634)	$	(9,394)	$	(125,028)
Other comprehensive income (loss) before reclassifications	(42,762)		13,833		(28,929)
Amounts reclassified from accumulated other comprehensive loss
Interest rate contracts, net of tax (1)	—		(3,849)		(3,849)
Net current-period other comprehensive income (loss)	(42,762)		9,984		(32,778)

Balance at July 3, 2022	$	(158,396)	$	590	$	(157,806)

(1) This accumulated other comprehensive component is reclassified to “Interest expense” in our consolidated statements of income. See Note 15 “Derivative Financial Instruments”, for more information.