Comprehensive Income and Accumulated Other Comprehensive Loss

4 Months Ended

Jun. 20, 2015

Equity [Abstract]

Comprehensive Income and Accumulated Other Comprehensive Loss

NOTE 10—COMPREHENSIVE INCOME AND ACCUMULATED COMPREHENSIVE LOSS

The Company reports comprehensive income in the Condensed Consolidated Statements of Comprehensive Income. Comprehensive income includes all changes in stockholders’ deficit during the reporting period, other than those resulting from investments by and distributions to stockholders. The Company’s comprehensive income is calculated as net earnings (loss) including noncontrolling interests, plus or minus adjustments for pension and other postretirement benefit obligations, net of tax, and changes in the fair value of cash flow hedges, net of tax, less comprehensive income attributable to noncontrolling interests.

Accumulated other comprehensive loss represents the cumulative balance of other comprehensive income (loss), net of tax, as of the end of the reporting period and relates to pension and other postretirement benefit obligation adjustments, net of tax.

Changes in Accumulated other comprehensive loss by component for the first quarter ended June 20, 2015 are as follows:

	Benefit Plans			Interest Rate Swap			Total
Accumulated other comprehensive loss at beginning of the fiscal year, net of tax	$	(423	)	$	—		$	(423	)
Other comprehensive loss before reclassifications, net of tax benefit of $1	—			(1		)	(1		)
Amortization of amounts included in net periodic benefit cost, net of tax expense of $8	14			—			14
Net current-period Other comprehensive income (loss), net of tax expense of $7	14			(1		)	13
Accumulated other comprehensive loss at the end of period, net of tax	$	(409	)	$	(1	)	$	(410	)

Changes in Accumulated other comprehensive loss by component for the first quarter ended June 14, 2014 are as follows:

	Benefit Plans
Accumulated other comprehensive loss at beginning of the fiscal year, net of tax	$	(307	)
Other comprehensive loss before reclassifications, net of tax benefit of ($0)	—
Amortization of amounts included in net periodic benefit cost, net of tax expense of $5	11
Net current-period Other comprehensive income, net of tax expense of $5	11
Accumulated other comprehensive loss at the end of period, net of tax	$	(296	)

Items reclassified out of pension and postretirement benefit plan accumulated other comprehensive loss had the following impact on the Condensed Consolidated Statements of Operations:

	First Quarter Ended
	June 20,   2015   (16 weeks)			June 14,   2014   (16 weeks)			Affected Line Item on Condensed Consolidated Statement of Operations
Pension and postretirement benefit plan obligations:
Amortization of amounts included in net periodic benefit expense(1)	$	20		$	12		Selling and administrative expenses
Amortization of amounts included in net periodic benefit expense(1)	2			4			Cost of sales
Total reclassifications	22			16
Income tax benefit	(8		)	(5		)	Income tax provision
Total reclassifications, net of tax	$	14		$	11

(1) Amortization of amounts included in net periodic benefit cost include amortization of prior service benefit and amortization of net actuarial loss as reflected in Note 8—Benefit Plans.

No amounts were reclassified out of Accumulated other comprehensive loss related to the interest rate swap designated as a cash flow hedge.