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Comprehensive Income (Tables)
6 Months Ended
Dec. 27, 2014
Comprehensive Income [Abstract]  
Summary of components of other comprehensive (loss) income and related tax effects

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

13-Week Period Ended Dec. 27, 2014

   

 

Location of Expense
(Income) Recognized
in Net Earnings

 

Before Tax
Amount

 

Tax

 

Net of Tax
Amount

 

 

 

 

(In thousands)

Pension and other postretirement benefit plans:

 

 

 

 

 

 

 

 

 

 

 

Reclassification adjustments:

 

 

 

 

 

 

 

 

 

 

 

Amortization of prior service cost

 

Operating expenses

 

$

2,819 

 

$

1,082 

 

$

1,737 

Amortization of actuarial loss (gain), net

 

Operating expenses

 

 

4,859 

 

 

1,866 

 

 

2,993 

Total reclassification adjustments

 

 

 

 

7,678 

 

 

2,948 

 

 

4,730 

 

 

 

 

 

 

 

 

 

 

 

 

Foreign currency translation:

 

 

 

 

 

 

 

 

 

 

 

Other comprehensive income before
    reclassification adjustments:

 

 

 

 

 

 

 

 

 

 

 

Foreign currency translation adjustment

 

N/A

 

 

(91,853)

 

 

 -

 

 

(91,853)

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate swaps:

 

 

 

 

 

 

 

 

 

 

 

Reclassification adjustments:

 

 

 

 

 

 

 

 

 

 

 

Amortization of cash flow hedges

 

Interest expense

 

 

2,660 

 

 

1,021 

 

 

1,639 

Total other comprehensive (loss) income

 

 

 

$

(81,515)

 

$

3,969 

 

$

(85,484)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

13-Week Period Ended Dec. 28, 2013

   

 

Location of Expense
(Income) Recognized
in Net Earnings

 

Before Tax
Amount

 

Tax

 

Net of Tax
Amount

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(In thousands)

Pension and other postretirement benefit plans:

 

 

 

 

 

 

 

 

 

 

 

Reclassification adjustments:

 

 

 

 

 

 

 

 

 

 

 

Amortization of prior service cost

 

Operating expenses

 

$

2,828 

 

$

1,085 

 

$

1,743 

Amortization of actuarial loss (gain), net

 

Operating expenses

 

 

4,046 

 

 

1,554 

 

 

2,492 

Total reclassification adjustments

 

 

 

 

6,874 

 

 

2,639 

 

 

4,235 

 

 

 

 

 

 

 

 

 

 

 

 

Foreign currency translation:

 

 

 

 

 

 

 

 

 

 

 

Other comprehensive income before
    reclassification adjustments:

 

 

 

 

 

 

 

 

 

 

 

Foreign currency translation adjustment

 

N/A

 

 

(38,947)

 

 

 -

 

 

(38,947)

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate swaps:

 

 

 

 

 

 

 

 

 

 

 

Reclassification adjustments:

 

 

 

 

 

 

 

 

 

 

 

Amortization of cash flow hedges

 

Interest expense

 

 

156 

 

 

60 

 

 

96 

Total other comprehensive (loss) income

 

 

 

$

(31,917)

 

$

2,699 

 

$

(34,616)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

26-Week Period Ended Dec. 27, 2014

   

 

Location of Expense
(Income) Recognized
in Net Earnings

 

Before Tax
Amount

 

Tax

 

Net of Tax
Amount

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(In thousands)

Pension and other postretirement benefit plans:

 

 

 

 

 

 

 

 

 

 

 

Reclassification adjustments:

 

 

 

 

 

 

 

 

 

 

 

Amortization of prior service cost

 

Operating expenses

 

$

5,638 

 

$

2,164 

 

$

3,474 

Amortization of actuarial loss (gain), net

 

Operating expenses

 

 

9,718 

 

 

3,732 

 

 

5,986 

Total reclassification adjustments

 

 

 

 

15,356 

 

 

5,896 

 

 

9,460 

 

 

 

 

 

 

 

 

 

 

 

 

Foreign currency translation:

 

 

 

 

 

 

 

 

 

 

 

Other comprehensive income before
    reclassification adjustments:

 

 

 

 

 

 

 

 

 

 

 

Foreign currency translation adjustment

 

N/A

 

 

(163,107)

 

 

 -

 

 

(163,107)

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate swaps:

 

 

 

 

 

 

 

 

 

 

 

Reclassification adjustments:

 

 

 

 

 

 

 

 

 

 

 

Amortization of cash flow hedges

 

Interest expense

 

 

2,865 

 

 

1,100 

 

 

1,765 

Other comprehensive income before
    reclassification adjustments:

 

 

 

 

 

 

 

 

 

 

 

Change in fair value of cash flow hedges

 

N/A

 

 

(55,374)

 

 

(21,263)

 

 

(34,111)

Total other comprehensive (loss) income

 

 

 

$

(200,260)

 

$

(14,267)

 

$

(185,993)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

26-Week Period Ended Dec. 28, 2013

   

 

Location of Expense
(Income) Recognized
in Net Earnings

 

Before Tax
Amount

 

Tax

 

Net of Tax
Amount

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(In thousands)

Pension and other postretirement benefit plans:

 

 

 

 

 

 

 

 

 

 

 

Reclassification adjustments:

 

 

 

 

 

 

 

 

 

 

 

Amortization of prior service cost

 

Operating expenses

 

$

5,656 

 

$

2,171 

 

$

3,485 

Amortization of actuarial loss (gain), net

 

Operating expenses

 

 

8,092 

 

 

3,109 

 

 

4,983 

Total reclassification adjustments

 

 

 

 

13,748 

 

 

5,280 

 

 

8,468 

 

 

 

 

 

 

 

 

 

 

 

 

Foreign currency translation:

 

 

 

 

 

 

 

 

 

 

 

Other comprehensive income before
    reclassification adjustments:

 

 

 

 

 

 

 

 

 

 

 

Foreign currency translation adjustment

 

N/A

 

 

(8,140)

 

 

 -

 

 

(8,140)

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate swaps:

 

 

 

 

 

 

 

 

 

 

 

Reclassification adjustments:

 

 

 

 

 

 

 

 

 

 

 

Amortization of cash flow hedges

 

Interest expense

 

 

312 

 

 

120 

 

 

192 

Total other comprehensive income (loss)

 

 

 

$

5,920 

 

$

5,400 

 

$

520 

 

Rollforward of accumulated other comprehensive (loss) income

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

26-Week Period Ended Dec. 27, 2014

 

 

Pension and Other Postretirement Benefit Plans,
net of tax

 

Foreign Currency Translation

 

Interest Rate Swaps,
net of tax

 

Total

 

 

(In thousands)

Balance as of Jun. 28, 2014

 

$

(685,957)

 

$

134,452 

 

$

(91,158)

 

$

(642,663)

Other comprehensive income before
    reclassification adjustments

 

 

 -

 

 

(163,107)

 

 

 -

 

 

(163,107)

Amortization of cash flow hedges

 

 

 -

 

 

 -

 

 

1,765 

 

 

1,765 

Change in fair value of cash flow hedges

 

 

 -

 

 

 -

 

 

(34,111)

 

 

(34,111)

Amortization of unrecognized prior service cost

 

 

3,474 

 

 

 -

 

 

 -

 

 

3,474 

Amortization of unrecognized net actuarial losses

 

 

5,986 

 

 

 -

 

 

 -

 

 

5,986 

Balance as of Dec. 27, 2014

 

$

(676,497)

 

$

(28,655)

 

$

(123,504)

 

$

(828,656)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

26-Week Period Ended Dec. 28, 2013

 

 

Pension and Other Postretirement Benefit Plans,
net of tax

 

Foreign Currency Translation

 

Interest Rate Swaps,
net of tax

 

Total

 

 

(In thousands)

Balance as of Jun. 29, 2013

 

$

(575,167)

 

$

137,558 

 

$

(9,328)

 

$

(446,937)

Other comprehensive income before
    reclassification adjustments

 

 

 -

 

 

 -

 

 

 -

 

 

 -

Amounts reclassified from accumulated
    other comprehensive loss

 

 

8,468 

 

 

(8,140)

 

 

192 

 

 

520 

Balance as of Dec. 28, 2013

 

$

(566,699)

 

$

129,418 

 

$

(9,136)

 

$

(446,417)