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 $193.8 million and $310.7 million for the second quarter of fiscal 2019 and fiscal 2018, respectively. Comprehensive income was $583.3 million and $798.5 million for the first 26 weeks of fiscal 2019 and fiscal 2018, 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:



		13-Week Period Ended Dec. 29, 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:
Reclassification adjustments:
Amortization of prior service cost	Other expense, net	$	2,133		$	533		$	1,600
Amortization of actuarial loss (gain), net	Other expense, net	8,706			2,177			6,529
Total reclassification adjustments		10,839			2,710			8,129
Foreign currency translation:
Foreign currency translation adjustment	N/A	(101,533		)	—			(101,533		)
Hedging instruments:
Other comprehensive income (loss) before reclassification adjustments:
Change in cash flow hedges	Operating expenses ⁽¹⁾	(11,380		)	(2,596		)	(8,784		)
Change in net investment hedges	N/A	35,293			8,824			26,469
Total other comprehensive income (loss) before reclassification adjustments		23,913			6,228			17,685
Reclassification adjustments:
Amortization of cash flow hedges	Interest expense	2,873			718			2,155
Total other comprehensive income (loss)		$	(63,908	)	$	9,656		$	(73,564	)


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



		13-Week Period Ended Dec. 30, 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:
Reclassification adjustments:
Amortization of prior service cost	Other expense, net	$	2,409		$	602		$	1,807
Amortization of actuarial loss (gain), net	Other expense, net	8,761			2,190			6,571
Total reclassification adjustments		11,170			2,792			8,378
Foreign currency translation:
Foreign currency translation adjustment	N/A	19,254			—			19,254
Hedging instruments:
Other comprehensive income (loss) before reclassification adjustments:
Change in cash flow hedges	Operating expenses ⁽¹⁾	2,944			2,027			917
Change in net investment hedges	N/A	(6,543		)	(2,390		)	(4,153		)
Total other comprehensive income (loss) before reclassification adjustments		(3,599		)	(363		)	(3,236		)
Reclassification adjustments:
Amortization of cash flow hedges	Interest expense	2,873			718			2,155
Total other comprehensive income (loss)		$	29,698		$	3,147		$	26,551


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



		26-Week Period Ended Dec. 29, 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 loss		$	(36,891	)	$	(4,380	)	$	(32,511	)
Reclassification adjustments:
Amortization of prior service cost	Other expense, net	4,266			1,066			3,200
Amortization of actuarial loss (gain), net	Other expense, net	17,412			4,354			13,058
Total reclassification adjustments		21,678			5,420			16,258
Foreign currency translation:
Other comprehensive income (loss) before reclassification adjustments:
Foreign currency translation adjustment	N/A	(126,460		)	—			(126,460		)
Hedging instruments:
Other comprehensive income (loss) before reclassification adjustments:
Change in cash flow hedges	Operating expenses ⁽¹⁾	(15,157		)	(3,365		)	(11,792		)
Change in net investment hedges	N/A	46,471			11,414			35,057
Total other comprehensive income (loss) before reclassification adjustments		31,314			8,049			23,265
Reclassification adjustments:
Amortization of cash flow hedges	Interest expense	5,746			1,436			4,310
Total other comprehensive income (loss)		$	(104,613	)	$	10,525		$	(115,138	)


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



		26-Week Period Ended Dec. 30, 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:
Reclassification adjustments:
Amortization of prior service cost	Other expense, net	$	4,818		$	1,527		$	3,291
Amortization of actuarial loss (gain), net	Other expense, net	17,522			5,554			11,968
Total reclassification adjustments		22,340			7,081			15,259
Foreign currency translation:
Foreign currency translation adjustment	N/A	140,584			—			140,584
Hedging instruments:
Other comprehensive income (loss) before reclassification adjustments:
Change in cash flow hedges	Operating expenses ⁽¹⁾	6,350			3,232			3,118
Change in net investment hedges	N/A	(29,918		)	(13,741		)	(16,177		)
Total other comprehensive income (loss) before reclassification adjustments		(23,568		)	(10,509		)	(13,059		)
Reclassification adjustments:
Amortization of cash flow hedges	Interest expense	5,746			1,821			3,925
Total other comprehensive income (loss)		$	145,102		$	(1,607	)	$	146,709


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

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



	26-Week Period Ended Dec. 29, 2018
	Pension and Other Postretirement Benefit Plans, net of tax			Foreign Currency Translation			Hedging, net of tax			Total
	(In thousands)
Balance as of Jun. 30, 2018	$	(1,095,059	)	$	(171,043	)	$	(143,167	)	$	(1,409,269	)
Equity adjustment from foreign currency translation	—			(126,460		)	—			(126,460		)
Amortization of cash flow hedges	—			—			4,310			4,310
Change in net investment hedges	—			—			35,057			35,057
Change in cash flow hedge	—			—			(11,792		)	(11,792		)
Net actuarial loss	(32,511		)	—			—			(32,511		)
Amortization of unrecognized prior service cost	3,200			—			—			3,200
Amortization of unrecognized net actuarial losses	13,058			—			—			13,058
Balance as of Dec. 29, 2018	$	(1,111,312	)	$	(297,503	)	$	(115,592	)	$	(1,524,407	)



	26-Week Period Ended Dec. 30, 2017
	Pension and Other Postretirement Benefit Plans, net of tax			Foreign Currency Translation			Hedging, net of tax			Total
	(In thousands)
Balance as of Jul. 1, 2017	$	(974,232	)	$	(148,056	)	$	(140,449	)	$	(1,262,737	)
Equity adjustment from foreign currency translation	—			140,584			—			140,584
Amortization of cash flow hedges	—			—			3,925			3,925
Change in net investment hedges	—			—			(16,177		)	(16,177		)
Change in cash flow hedges	—			—			3,118			3,118
Amortization of unrecognized prior service cost	3,291			—			—			3,291
Amortization of unrecognized net actuarial losses	11,968			—			—			11,968
Balance as of Dec. 30, 2017	$	(958,973	)	$	(7,472	)	$	(149,583	)	$	(1,116,028	)