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Accumulated Other Comprehensive Loss (Tables)
5 Months Ended
Feb. 11, 2017
Equity [Abstract]  
Changes in Accumulated Other Comprehensive Loss

Changes in Accumulated other comprehensive loss for the twelve week periods ended February 11, 2017 and February 13, 2016 consisted of the following:

 

(in thousands)

   Pension
Liability
    Foreign
Currency (3) 
    Net
Unrealized
Gain on
Securities
    Derivatives     Total  

Balance at November 19, 2016

   $ (87,074 )    $ (251,603 )    $ (109 )    $ (7,417 )    $ (346,203 ) 

Other comprehensive loss before reclassifications (1)

     —         (2,342 )      (13 )      —         (2,355 ) 

Amounts reclassified from Accumulated other comprehensive loss (1)

     1,953 (2)      —         (33 )(4)      321 (5)      2,241  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Balance at February 11, 2017

   $ (85,121 )    $ (253,945 )    $ (155 )    $ (7,096 )    $ (346,317 ) 
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

(in thousands)

   Pension
Liability
    Foreign
Currency (3)
    Net
Unrealized
Gain on
Securities
    Derivatives     Total  

Balance at November 21, 2015

   $ (69,561 )    $ (163,701 )    $ (88 )    $ (7,045 )    $ (240,395 ) 

Other comprehensive (loss) income before reclassifications (1)

     —         (67,723 )      167       (1,640 )      (69,196 ) 

Amounts reclassified from Accumulated other comprehensive loss (1)

     1,479 (2)      —         (19 )(4)      282 (5)      1,742  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Balance at February 13, 2016

   $ (68,082 )    $ (231,424 )    $ 60     $ (8,403 )    $ (307,849 ) 
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

(1) Amounts in parentheses indicate debits to Accumulated other comprehensive loss.
(2) Represents amortization of pension liability adjustments, net of taxes of $1,248 for the twelve weeks ended February 11, 2017 and $945 for the twelve weeks ended February 13, 2016, which is recorded in Operating, selling, general and administrative expenses on the Condensed Consolidated Statements of Income. See “Note G – Pension and Savings Plans” for further discussion.
(3) Foreign currency is not shown net of additional U.S. tax as earnings of non-U.S. subsidiaries are intended to be permanently reinvested.
(4) Represents realized losses on marketable securities, net of taxes of $18 for the twelve weeks ended February 11, 2017 and $11 for the twelve weeks ended February 13, 2016, which is recorded in Operating, selling, general and administrative expenses on the Condensed Consolidated Statements of Income. See “Note D – Marketable Securities” for further discussion.

 

(5) Represents gains and losses on derivatives, net of taxes of $188 for the twelve weeks ended February 11, 2017 and $165 for the twelve weeks ended February 13, 2016, which is recorded in Interest expense, net, on the Condensed Consolidated Statements of Income. See “Note E – Derivative Financial Instruments” for further discussion.

Changes in Accumulated other comprehensive loss for the twenty-four week periods ended February 11, 2017 and February 13, 2016, consisted of the following:

 

(in thousands)

   Pension
Liability
    Foreign
Currency (3)
    Net
Unrealized
Gain on
Securities
    Derivatives     Total  

Balance at August 27, 2016

   $ (88,890 )    $ (211,012 )    $ 120     $ (7,747 )    $ (307,529 ) 

Other comprehensive loss before reclassifications (1)

     —         (42,933 )      (248 )      —         (43,181 ) 

Amounts reclassified from Accumulated other comprehensive loss (1)

     3,769 (2)      —         (27 )(4)      651 (5)      4,393  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Balance at February 11, 2017

   $ (85,121 )    $ (253,945 )    $ (155 )    $ (7,096 )    $ (346,317 ) 
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

(in thousands)

   Pension
Liability
    Foreign
Currency (3)
    Net
Unrealized
Gain on
Securities
    Derivatives     Total  

Balance at August 29, 2015

   $ (70,795 )    $ (171,488 )    $ (26 )    $ (7,209 )    $ (249,518 ) 

Other comprehensive (loss) income before reclassifications (1)

     —         (59,936 )      93       (1,640 )      (61,483 ) 

Amounts reclassified from Accumulated other comprehensive loss (1)

     2,713 (2)      —         (7 )(4)      446 (5)      3,152  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Balance at February 13, 2016

   $ (68,082 )    $ (231,424 )    $ 60     $ (8,403 )    $ (307,849 ) 
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

(1) Amounts in parentheses indicate debits to Accumulated other comprehensive loss.
(2) Represents amortization of pension liability adjustments, net of taxes of $2,634 in fiscal 2017 and $2,135 in fiscal 2016, which is recorded in Operating, selling, general and administrative expenses on the Condensed Consolidated Statements of Income. See “Note G – Pension and Savings Plans” for further discussion.
(3) Foreign currency is not shown net of additional U.S. tax as earnings of non-U.S. subsidiaries are intended to be permanently reinvested.
(4) Represents realized losses on marketable securities, net of taxes of $15 in fiscal 2017 and $4 in fiscal 2016, which is recorded in Operating, selling, general and administrative expenses on the Condensed Consolidated Statements of Income. See “Note D – Marketable Securities” for further discussion.
(5) Represents gains and losses on derivatives, net of taxes of $367 in fiscal 2017 and $250 in fiscal 2016, which is recorded in Interest expense, net, on the Condensed Consolidated Statements of Income. See “Note E – Derivative Financial Instruments” for further discussion.