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Other Comprehensive Income
 3 Months Ended
Mar. 30, 2013
Comprehensive Income [Abstract]  
Comprehensive Income
Other Comprehensive Income

The Company follows Financial Accounting Standards Board ("FASB") authoritative guidance for reporting and presentation of comprehensive income or loss and its components.  Other comprehensive income (loss) is derived from adjustments that reflect pension adjustments, natural gas derivative adjustments, corn option adjustments and interest rate swap derivative adjustments. The components of other comprehensive income (loss) and the related tax impacts for the three months ended March 30, 2013 and March 31, 2012 are as follows (in thousands):

 
Before-Tax
 
Tax (Expense)
 
Net-of-Tax
 
Amount
 
or Benefit
 
Amount
 
March 30, 2013
March 31, 2012
 
March 30, 2013
March 31, 2012
 
March 30, 2013
March 31, 2012
Defined benefit pension plans
 
 
 
 
 
 
 
 
Amortization of prior service cost
$
15

$
22

 
$
(6
)
$
(8
)
 
$
9

$
14

Amortization of actuarial loss
1,300

1,189

 
(504
)
(461
)
 
796

728

Total defined benefit pension plans
1,315

1,211

 
(510
)
(469
)
 
805

742

Natural gas swap derivatives
 
 
 
 
 
 
 
 
Loss reclassified to net income
57

713

 
(22
)
(276
)
 
35

437

Gain/(loss) activity recognized in other comprehensive income (loss)
184

(700
)
 
(71
)
270

 
113

(430
)
Total natural gas swap derivatives
241

13

 
(93
)
(6
)
 
148

7

Corn option derivatives
 
 
 
 
 
 
 
 
Gain reclassified to net income
(42
)
—

 
16

—

 
(26
)
—

Gain activity recognized in other comprehensive income (loss)
1,591

—

 
(616
)
—

 
975

—

Total corn option derivatives
1,549

—

 
(600
)
—

 
949

—

Interest rate swap derivatives
 
 
 
 
 
 
 
 
Loss reclassified to net income
—

232

 
—

(90
)
 
—

142

 
 
 
 
 
 
 
 
 
Other comprehensive income (loss)
$
3,105

$
1,456

 
$
(1,203
)
$
(565
)
 
$
1,902

$
891

 
 
 
 
 
 
 
 
 


The following table presents the amounts reclassified out of each component of other comprehensive income (loss), net of tax for the three months ended March 30, 2013 and March 31, 2012 as follows (in thousands):

 
 
For the Three Months Ended
 
 
 
 
March 30, 2013
March 31, 2012
 
Statement of Operations Classification
Derivative instruments
 
 
 
 
 
Natural gas swap derivatives loss
 
$
(57
)
$
(713
)
 
Cost of sales and other operating expenses
Corn option derivatives gain
 
42

—

 
Cost of sales and other operating expenses
Interest rate swap derivatives loss
 
—

(232
)
 
Interest expense
 
 
(15
)
(945
)
 
Total before tax
 
 
6

366

 
Income tax benefit/(expense)
 
 
(9
)
(579
)
 
Net of tax
Defined benefit pension plans
 
 
 
 
 
Amortization of prior service cost
 
$
(15
)
$
(22
)
 
(a)
Amortization of actuarial loss
 
(1,300
)
(1,189
)
 
(a)
 
 
(1,315
)
(1,211
)
 
Total before tax
 
 
510

469

 
Income tax benefit/(expense)
 
 
(805
)
(742
)
 
Net of tax
 
 
 
 
 
 
Total reclassifications
 
$
(814
)
$
(1,321
)
 
Net of tax

(a)
These items are included in the computation of net periodic pension cost. See Note 12 Employee Benefit Plans for additional information.

The following table presents changes in each component of accumulated comprehensive income (loss) as of March 30, 2013 as follows (in thousands):

 
 
Three Months Ended March 30, 2013
 
 
Derivative
Defined Benefit
 
 
 
Instruments
Pension Plans
Total
Accumulated Other Comprehensive Income (loss) December 29, 2012, net of tax
 
$
180

$
(31,509
)
$
(31,329
)
Other comprehensive gain before reclassifications
 
1,088

—

1,088

Amounts reclassified from accumulated other comprehensive income (loss)
 
9

805

814

Net current-period other comprehensive income
 
1,097

805

1,902

Accumulated Other Comprehensive Income (loss) March 30, 2013, net of tax
 
$
1,277

$
(30,704
)
$
(29,427
)