Accumulated Other Comprehensive Loss and Other Comprehensive (Loss) Income

9 Months Ended

Oct. 02, 2022

Accumulated Other Comprehensive Loss and Other Comprehensive (Loss) Income

A rollforward of the components of accumulated other comprehensive loss is as follows for the periods indicated:


	Three Months Ended				Nine Months Ended
(In thousands)	October 2, 2022		October 3, 2021		October 2, 2022		October 3, 2021
Accumulated foreign currency translation losses, beginning of period	$	(128,070)	$	(85,664)	$	(96,919)	$	(93,684)
Foreign currency translation loss	(29,021)		(9,164)		(59,518)		(4,441)
Income tax (benefit) expense on foreign currency translation loss	(45)		(15)		(58)		7
Cumulative translation adjustment recognized upon deconsolidation of subsidiary	—		—		—		3,544
Less: foreign currency translation (loss) gain attributable to non-controlling interest	(45)		(166)		596		103
Accumulated foreign currency translation losses, end of period	(157,091)		(94,677)		(157,091)		(94,677)

Accumulated pension and other post-retirement adjustments, beginning of period	(4,651)		(17,848)		(4,663)		(18,379)


Amortization of actuarial net losses	6		334		18		1,000
Income tax expense on amortization of actuarial net losses	—		(68)		—		(203)


Accumulated pension and other post-retirement adjustments	(4,645)		(17,582)		(4,645)		(17,582)

Accumulated other comprehensive loss	$	(161,736)	$	(112,259)	$	(161,736)	$	(112,259)

Other comprehensive (loss) income, net of tax	$	(29,060)	$	(8,913)	$	(59,558)	$	(93)
Less: other comprehensive (loss) income attributable to non-controlling interest	(45)		(166)		596		103
Other comprehensive (loss) income attributable to Masonite	$	(29,015)	$	(8,747)	$	(60,154)	$	(196)

Cumulative translation adjustments are reclassified out of accumulated other comprehensive loss into loss on disposal of subsidiaries in the condensed consolidated statements of income and comprehensive income. Actuarial net losses are reclassified out of accumulated other comprehensive loss into cost of goods sold in the condensed consolidated statements of income and comprehensive income.

Foreign currency translation losses as a result of translating our foreign assets and liabilities into U.S. dollars during the three and nine months ended October 2, 2022, were $29.0 million and $59.5 million, respectively. These foreign currency translation losses were primarily driven by weakening of the Pound Sterling, the Canadian dollar and the Euro in comparison to the U.S. dollar during the period.