Other Comprehensive Income (Loss)

12 Months Ended

Jan. 01, 2022

Changes in other comprehensive income (loss) by component for fiscal years 2021, 2020, and 2019 were as follows:


	Fiscal Year Ended
	January 1, 2022						December 26, 2020						December 28, 2019
(in thousands)	Pre-tax		Tax		Net of tax		Pre-tax		Tax		Net of tax		Pre-tax		Tax		Net of tax
Defined benefit pension plan and other adjustments	$	27,481	$	(5,268)	$	22,213	$	(19,513)	$	3,418	$	(16,095)	$	(9,149)	$	1,062	$	(8,087)

Foreign currency translation adjustments (1)	(6,967)		2,448		(4,519)		34,707		(2,946)		31,761		(1,476)		664		(812)
Total change in other comprehensive income (loss)	$	20,514	$	(2,820)	$	17,694	$	15,194	$	472	$	15,666	$	(10,625)	$	1,726	$	(8,899)

(1) The tax shown above within the foreign currency translation adjustments is the U.S. tax associated with the foreign currency translation adjustments of earnings of non-U.S. subsidiaries which have been previously taxed in the U.S. and are not permanently reinvested.

Accumulated Other Comprehensive Income (Loss) (“AOCI”): The following table sets forth the changes in the components of AOCI by component for fiscal years 2021, 2020, and 2019:


(in thousands)	Pension and postretirement liability and reclassification adjustments		Foreign currency translation adjustments		Accumulated other comprehensive income (loss)
Balance at December 29, 2018	$	(9,959)	$	(87,965)	$	(97,924)

2019 activity	(8,087)		(812)		(8,899)
Balance at December 28, 2019	(18,046)		(88,777)		(106,823)

2020 activity	(16,095)		31,761		15,666
Balance at December 26, 2020	(34,141)		(57,016)		(91,157)
2021 activity	22,213		(4,519)		17,694
Balance at January 1, 2022	(11,928)		(61,535)		(73,463)

Due to the signing of the group annuity contract being a significant change in the U.K. pension plan, the liabilities of the plan were remeasured as of April 6, 2020 resulting in an increase of $13.4 million to unamortized actuarial loss within other comprehensive income (loss). In the fourth quarter of 2021, the Company recorded a non-cash pension settlement charge of $19.9 million (£14.9 million), inclusive of the accelerated recognition of prior service cost of $0.5 million (£0.4 million). See Note 11, Benefits Plans for further discussion.

Amounts reclassified from accumulated other comprehensive income (loss) to earnings for fiscal years 2021, 2020, and 2019 were as follows:


	Fiscal Year Ended
(in thousands)	January 1, 2022		December 26, 2020		December 28, 2019
Pension and postemployment and other plans:
Amortization of prior service, net actuarial loss, and other	$	2,006	$	1,694	$	372
Net settlement loss and accelerated prior service costs	19,855		236		260
Total	$	21,861	$	1,930	$	632

The Company recognizes the amortization of prior service costs and net settlement loss in other expense (income), net within the Consolidated Statements of Net Income.