OTHER COMPREHENSIVE INCOME

Comprehensive income is net earnings plus certain other items that are recorded directly to shareholders’ equity, such as foreign currency translation adjustment, amounts related to cash flow hedging arrangements and certain amounts related to pension and other postretirement plans. Comprehensive income was $1.5 billion, $1.2 billion and $514.7 million for fiscal 2018, 2017 and 2016, respectively.

A summary of the components of other comprehensive income (loss) and the related tax effects for each of the periods presented is as follows:



		2018
	Location of Expense (Income) Recognized in Net Earnings	Before Tax Amount			Tax			Net of Tax Amount
		(In thousands)
Pension and other postretirement benefit plans:
Other comprehensive income before reclassification adjustments:
Net actuarial gain (loss), arising in the current year		$	69,476		$	16,965		$	52,511
Reclassification adjustments:
Amortization of prior service cost	Operating expenses	9,636			2,731			6,905
Amortization of actuarial loss (gain), net	Operating expenses	35,044			9,934			25,110
Total reclassification adjustments		44,680			12,665			32,015
Foreign currency translation:
Foreign currency translation adjustment	N/A	(22,987		)	—			(22,987		)
Hedging instruments:
Other comprehensive income (loss) before reclassification adjustments:
Change in cash flow hedges	Operating expenses ⁽¹⁾	23,872			9,529			14,343
Change in net investment hedges	N/A	(2,443		)	(8,234		)	5,791
Total other comprehensive income (loss) before reclassification adjustments		21,429			1,295			20,134
Reclassification adjustments:
Amortization of cash flow hedges	Interest expense	11,499			3,259			8,240
Total other comprehensive income (loss)		$	124,097		$	34,184		$	89,913


⁽¹⁾	Amount partially impacts operating expense for fuel swaps accounted for as cash flow hedges.



		2017
	Location of Expense (Income) Recognized in Net Earnings	Before Tax Amount			Tax			Net of Tax Amount
		(In thousands)
Pension and other postretirement benefit plans:
Other comprehensive income before reclassification adjustments:
Net actuarial (loss) gain, net arising in the current year		$	168,498		$	71,215		$	97,283
Reclassification adjustments:
Amortization of prior service cost	Operating expenses	11,370			4,366			7,004
Amortization of actuarial loss (gain), net	Operating expenses	41,689			15,724			25,965
Total reclassification adjustments		53,059			20,090			32,969
Foreign currency translation:
Foreign currency translation adjustment	N/A	(11,243		)	—			(11,243		)
Hedging instruments:
Other comprehensive income (loss) before reclassification adjustments:
Change in cash flow hedges	Operating expenses ⁽¹⁾	(10,871		)	(4,173		)	(6,698		)
Change in net investment hedges	N/A	(34,152		)	(10,140		)	(24,012		)
Total other comprehensive income (loss) before reclassification adjustments		(45,023		)	(14,313		)	(30,710		)
Reclassification adjustments:
Amortization of cash flow hedges	Interest expense	11,495			4,413			7,082
Total other comprehensive income (loss)		$	176,786		$	81,405		$	95,381


⁽¹⁾	Amount partially impacts operating expense for fuel swaps accounted for as cash flow hedges.



		2016
	Location of Expense (Income) Recognized in Net Earnings	Before Tax Amount			Tax			Net of Tax Amount
		(In thousands)
Pension and other postretirement benefit plans:
Other comprehensive income before reclassification adjustments
Net actuarial (loss) gain, net arising in the current year		$	(681,034	)	$	(261,517	)	$	(419,517	)
Reclassification adjustments:
Amortization of prior service cost	Operating expenses	11,351			4,359			6,992
Amortization of actuarial loss (gain), net	Operating expenses	21,677			8,325			13,352
Total reclassification adjustments		33,028			12,684			20,344
Foreign currency translation:
Foreign currency translation adjustment	N/A	(39,080		)	—			(39,080		)
Interest rate swaps:
Other comprehensive income before reclassification adjustments:
Change in cash flow hedges		(6,134		)	(2,355		)	(3,779		)
Reclassification adjustments:
Amortization of cash flow hedges	Interest expense	11,543			4,432			7,111
Total other comprehensive loss		$	(681,677	)	$	(246,756	)	$	(434,921	)

The following tables provide a summary of the changes in accumulated other comprehensive (loss) income (AOCI) for the periods presented:



	Pension and Other Postretirement Benefit Plans, net of tax			Foreign Currency Translation			Hedging, net of tax			Total
	(In thousands)
Balance as of Jun. 27, 2015	$	(705,311	)	$	(97,733	)	$	(120,153	)	$	(923,197	)
Other comprehensive income before reclassification adjustments	(419,517		)	(39,080		)	(3,779		)	(462,376		)
Amounts reclassified from accumulated other comprehensive loss	20,344			—			7,111			27,455
Balance as of Jul. 2, 2016	(1,104,484		)	(136,813		)	(116,821		)	(1,358,118		)
Other comprehensive income before reclassification adjustments	97,283			(11,243		)	(30,710		)	55,330
Amounts reclassified from accumulated other comprehensive loss	32,969			—			7,082			40,051
Balance as of Jul. 1, 2017	(974,232		)	(148,056		)	(140,449		)	(1,262,737		)
Other comprehensive income before reclassification adjustments	52,511			(22,987		)	20,134			49,658
Amounts reclassified from accumulated other comprehensive loss	32,015			—			8,240			40,255
Amounts reclassified to retained earnings ⁽¹⁾	(205,353		)	—			(31,092		)	(236,445		)
Balance as of Jun. 30, 2018	$	(1,095,059	)	$	(171,043	)	$	(143,167	)	$	(1,409,269	)


⁽¹⁾	Deferred taxes stranded in AOCI as a result of the Tax Act were reclassified to retained earnings as a result of early adopting ASU 2018-02.