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Other Comprehensive Income
3 Months Ended
Mar. 30, 2019
Equity [Abstract]  
Other Comprehensive Income
Other Comprehensive Income/(Loss)

The Company follows FASB authoritative guidance for reporting and presentation of comprehensive income/(loss) and its components.  Other comprehensive income/(loss) is derived from adjustments that reflect pension adjustments, natural gas swap adjustments, corn option adjustments, foreign exchange forward adjustments and foreign currency translation adjustments.

The components of other comprehensive income (loss) and the related tax impacts for the three months ended March 30, 2019 and March 31, 2018 are as follows (in thousands):

 
Three Months Ended
 
Before-Tax
Tax (Expense)
Net-of-Tax
 
Amount
or Benefit
Amount
 
March 30, 2019
March 31, 2018
March 30, 2019
March 31, 2018
March 30, 2019
March 31, 2018
Defined benefit pension plans
 
 
 
 
 
 
Amortization of prior service cost/(benefit)
$
9

$
9

$
(3
)
$
(3
)
$
6

$
6

Amortization of actuarial loss
1,146

888

(294
)
(227
)
852

661

Total defined benefit pension plans
1,155

897

(297
)
(230
)
858

667

Natural gas swap derivatives
 
 
 
 
 
 
Loss/(gain) reclassified to net income

14


(4
)

10

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

16


(4
)

12

Total natural gas swap derivatives

30


(8
)

22

Corn option derivatives
 
 
 
 
 
 
Loss/(gain) reclassified to net income

(668
)

173


(495
)
Gain/(loss) activity recognized in other comprehensive income/(loss)

(1,497
)

387


(1,110
)
Total corn option derivatives

(2,165
)

560


(1,605
)
Foreign exchange derivatives
 
 
 
 
 
 
Gain/(loss) activity recognized in other comprehensive income/(loss)
(2,934
)

997


(1,937
)

Total foreign exchange derivatives
(2,934
)

997


(1,937
)

 
 
 
 
 
 
 
Foreign currency translation
(5,393
)
17,295

507


(4,886
)
17,295

 
 
 
 
 
 
 
Other comprehensive income/(loss)
$
(7,172
)
$
16,057

$
1,207

$
322

$
(5,965
)
$
16,379

 
 
 
 
 
 
 

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, 2019 and March 31, 2018 as follows (in thousands):

 
Three Months Ended
 
 
March 30, 2019
March 31, 2018
Statement of Operations Classification
Derivative instruments
 
 
 
Natural gas swap derivatives
$

$
(14
)
Cost of sales and operating expenses
Corn option derivatives

668

Cost of sales and operating expenses
 

654

Total before tax
 

(169
)
Income taxes
 

485

Net of tax
Defined benefit pension plans
 
 
 
Amortization of prior service cost
$
(9
)
$
(9
)
(a)
Amortization of actuarial loss
(1,146
)
(888
)
(a)
 
(1,155
)
(897
)
Total before tax
 
297

230

Income taxes
 
(858
)
(667
)
Net of tax
Total reclassifications
$
(858
)
$
(182
)
Net of tax

(a)
These items are included in the computation of net periodic pension cost. See Note 14 Employee Benefit Plans for additional information.

The following table presents changes in each component of accumulated other comprehensive income/(loss) as of March 30, 2019 as follows (in thousands):

 
 
Three Months Ended March 30, 2019
 
 
Foreign Currency
Derivative
Defined Benefit
 
 
 
Translation
Instruments
Pension Plans
Total
Accumulated Other Comprehensive Income/(loss) December 29, 2018, attributable to Darling, net of tax
 
$
(270,081
)
$
1,081

$
(35,539
)
$
(304,539
)
Other comprehensive gain/(loss) before reclassifications
 
(4,886
)
(1,937
)

(6,823
)
Amounts reclassified from accumulated other comprehensive income/(loss)
 


858

858

Net current-period other comprehensive income/(loss)
 
(4,886
)
(1,937
)
858

(5,965
)
Noncontrolling interest
 
1,759



1,759

Accumulated Other Comprehensive Income/(loss) March 30, 2019, attributable to Darling, net of tax
 
(276,726
)
$
(856
)
$
(34,681
)
$
(312,263
)