Other Comprehensive Income (Loss)

12 Months Ended

Dec. 31, 2022

Changes in other comprehensive income (loss) by component for fiscal years 2022, 2021, and 2020 were as follows:


	Fiscal Year Ended
	December 31, 2022						January 1, 2022						December 26, 2020
(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	$	11,560	$	(1,825)	$	9,735	$	27,481	$	(5,268)	$	22,213	$	(19,513)	$	3,418	$	(16,095)
Cash flow hedge	8,679		(2,083)		6,596		—		—		—		—		—		—
Foreign currency translation adjustments (1)	(39,619)		987		(38,632)		(6,967)		2,448		(4,519)		34,707		(2,946)		31,761
Total change in other comprehensive income (loss)	$	(19,380)	$	(2,921)	$	(22,301)	$	20,514	$	(2,820)	$	17,694	$	15,194	$	472	$	15,666

(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 2022, 2021, and 2020:


(in thousands)	Pension and postretirement liability and reclassification adjustments		Cash flow hedge		Foreign currency translation adjustments		Accumulated other comprehensive income (loss)
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)
2022 activity	9,735		6,596		(38,632)		(22,301)
Balance at December 31, 2022	(2,193)		6,596		(100,167)		(95,764)

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 2022, 2021, and 2020 were as follows:


	Fiscal Year Ended
(in thousands)	December 31, 2022		January 1, 2022		December 26, 2020
Pension and postemployment and other plans:
Amortization of prior service, net actuarial loss, and other	$	785	$	2,006	$	1,694
Net settlement loss and accelerated prior service costs	477		19,855		236
Total	$	1,262	$	21,861	$	1,930

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.