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Other Comprehensive Income
 9 Months Ended
Sep. 28, 2024
Equity [Abstract]  
Other Comprehensive Income Other Comprehensive Income/(Loss)
The components of other comprehensive income/(loss) and the related tax impacts for the three and nine months ended September 28, 2024 and September 30, 2023 are as follows (in thousands):

Three Months Ended
Before-TaxTax (Expense)Net-of-Tax
Amountor BenefitAmount
September 28, 2024September 30, 2023September 28, 2024September 30, 2023September 28, 2024September 30, 2023
Defined benefit pension plans
Amortization of prior service (cost)/benefit$(6)$(1)$3 $— $(3)$(1)
Amortization of actuarial loss349 434 (84)(106)265 328 
Total defined benefit pension plans343 433 (81)(106)262 327 
Soybean meal option derivatives
Reclassified to earnings— 322 — (82)— 240 
Activity recognized in other comprehensive income/(loss)— (361)— 92 — (269)
Total soybean meal option derivatives— (39)— 10 — (29)
Corn option derivatives
Reclassified to earnings(605)— 147 — (458)— 
Activity recognized in other comprehensive income/(loss)(193)— 47 — (146)— 
Total corn option derivatives(798)— 194 — (604)— 
Heating oil derivatives at DGD (Note 15)
Activity recognized in other comprehensive income/(loss)21,798 (39,221)(5,297)9,962 16,501 (29,259)
Total heating oil derivatives21,798 (39,221)(5,297)9,962 16,501 (29,259)
Interest swap derivatives
Reclassified to earnings18,069 (22,072)(4,391)5,606 13,678 (16,466)
Activity recognized in other comprehensive income/(loss)(25,777)24,633 6,264 (6,256)(19,513)18,377 
Total interest swap derivatives(7,708)2,561 1,873 (650)(5,835)1,911 
Foreign exchange derivatives
Reclassified to earnings924 (11,677)(305)3,973 619 (7,704)
Activity recognized in other comprehensive income/(loss)8,200 (4,124)(2,752)1,403 5,448 (2,721)
Total foreign exchange derivatives9,124 (15,801)(3,057)5,376 6,067 (10,425)
Foreign currency translation57,147 (82,571)(1,697)1,074 55,450 (81,497)
Other comprehensive income/(loss)$79,906 $(134,638)$(8,065)$15,666 $71,841 $(118,972)
Nine Months Ended
Before-TaxTax (Expense)Net-of-Tax
Amountor BenefitAmount
September 28, 2024September 30, 2023September 28, 2024September 30, 2023September 28, 2024September 30, 2023
Defined benefit pension plans
Amortization of prior service (cost)/benefit$(18)$(1)$8 $— $(10)$(1)
Amortization of actuarial loss1,047 1,302 (251)(320)796 982 
Total defined benefit pension plans1,029 1,301 (243)(320)786 981 
Soybean meal option derivatives
Reclassified to earnings(33)(182)8 46 (25)(136)
Activity recognized in other comprehensive income/(loss)— (448)— 114 — (334)
Total soybean meal option derivatives(33)(630)8 160 (25)(470)
Corn option derivatives
Reclassified to earnings(605)(1,537)147 390 (458)(1,147)
Activity recognized in other comprehensive income/(loss)1,211 1,627 (294)(412)917 1,215 
Total corn option derivatives606 90 (147)(22)459 68 
Heating oil derivatives at DGD (Note 15)
Activity recognized in other comprehensive income/(loss)(24,628)(34,081)5,984 8,657 (18,644)(25,424)
Total heating oil derivatives(24,628)(34,081)5,984 8,657 (18,644)(25,424)
Interest swap derivatives
Reclassified to earnings(8,716)(21,206)2,118 5,386 (6,598)(15,820)
Activity recognized in other comprehensive income/(loss)2,114 37,609 (514)(9,552)1,600 28,057 
Total interest swap derivatives(6,602)16,403 1,604 (4,166)(4,998)12,237 
Foreign exchange derivatives
Reclassified to earnings(6,471)(23,950)2,203 8,149 (4,268)(15,801)
Activity recognized in other comprehensive income/(loss)(23,219)30,720 7,906 (10,453)(15,313)20,267 
Total foreign exchange derivatives(29,690)6,770 10,109 (2,304)(19,581)4,466 
Foreign currency translation(176,481)56,984 (777)328 (177,258)57,312 
Other comprehensive income/(loss)$(235,799)$46,837 $16,538 $2,333 $(219,261)$49,170 

The following table presents the amounts reclassified out of each component of other comprehensive income/(loss), net of tax for the three and nine months ended September 28, 2024 and September 30, 2023 as follows (in thousands):
Three Months EndedNine Months Ended
September 28, 2024September 30, 2023September 28, 2024September 30, 2023Statement of Operations Classification
Derivative instruments
Soybean meal option derivatives$— $(322)$33 $182 Net sales
Foreign exchange contracts(924)11,677 6,471 23,950 Net sales
Corn option derivatives605 — 605 1,537 Cost of sales and operating expenses
Interest swaps(18,069)22,072 8,716 21,206 Foreign currency gain/(loss) and interest expense
(18,388)33,427 15,825 46,875 Total before tax
4,549 (9,497)(4,476)(13,971)Income taxes
(13,839)23,930 11,349 32,904 Net of tax
Defined benefit pension plans
Amortization of prior service cost$6 $1 $18 $1 (a)
Amortization of actuarial loss(349)(434)(1,047)(1,302)(a)
(343)(433)(1,029)(1,301)Total before tax
81 106 243 320 Income taxes
(262)(327)(786)(981)Net of tax
Total reclassifications$(14,101)$23,603 $10,563 $31,923 Net of tax

(a)These items are included in the computation of net periodic pension cost. See Note 14 (Employee Benefit Plans) to the Company’s Consolidated Financial Statement included herein for additional information.

The following table presents changes in each component of accumulated other comprehensive income/(loss) as of September 28, 2024 as follows (in thousands):
Nine Months Ended September 28, 2024
ForeignDefined
CurrencyDerivativeBenefit
TranslationInstrumentsPension PlansTotal
Accumulated Other Comprehensive income/ (loss) December 30, 2023, attributable to Darling, net of tax$(231,678)$47,730 $(14,398)$(198,346)
Other comprehensive loss before reclassifications(177,258)(31,440)— (208,698)
Amounts reclassified from accumulated other comprehensive income/ (loss)— (11,349)786 (10,563)
Net current-period other comprehensive income/ (loss)(177,258)(42,789)786 (219,261)
Noncontrolling interest
278 — — 278 
Accumulated Other Comprehensive income/ (loss) September 28, 2024, attributable to Darling, net of tax$(409,214)$4,941 $(13,612)$(417,885)