Stockholders’ Equity Accumulated Other Comprehensive Income (Loss) (AOCI) The components of accumulated other comprehensive income (loss), net of tax, for the quarter ended August 28, 2022 are as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | (in millions) | | Foreign Currency Translation Adjustment | | Unrealized Gains (Losses) on Derivatives | | Benefit Plan Funding Position | | Accumulated Other Comprehensive Income (Loss) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Balance at May 29, 2022 | | $ | 4.8 | | | $ | (0.4) | | | $ | (6.3) | | | $ | (1.9) | | Gain (loss) | | — | | | 1.5 | | | — | | | 1.5 | | Reclassification realized in net earnings | | — | | | 0.7 | | | 0.1 | | | 0.8 | | Balance at August 28, 2022 | | $ | 4.8 | | | $ | 1.8 | | | $ | (6.2) | | | $ | 0.4 | |
The components of accumulated other comprehensive income (loss), net of tax, for the quarter ended August 29, 2021 are as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | (in millions) | | Foreign Currency Translation Adjustment | | Unrealized Gains (Losses) on Derivatives | | Benefit Plan Funding Position | | Accumulated Other Comprehensive Income (Loss) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Balances at May 30, 2021 | | $ | 5.2 | | | $ | 7.9 | | | $ | (8.9) | | | $ | 4.2 | | Gain (loss) | | (0.4) | | | 2.6 | | | — | | | 2.2 | | Reclassification realized in net earnings | | — | | | (0.8) | | | 0.2 | | | (0.6) | | Balance at August 29, 2021 | | $ | 4.8 | | | $ | 9.7 | | | $ | (8.7) | | | $ | 5.8 | |
The following table presents the amounts and line items in our consolidated statements of earnings where adjustments reclassified from AOCI into net earnings were recorded. | | | | | | | | | | | | | | | | | | | | | | | | | | | | Amount Reclassified from AOCI into Net Earnings | | | | | | Three Months Ended | (in millions) AOCI Components | Location of Gain (Loss) Recognized in Earnings | | | | | | August 28, 2022 | | August 29, 2021 | Derivatives | | | | | | | | | | Commodity contracts | (1) | | | | | | $ | 0.1 | | | $ | — | | Equity contracts | (2) | | | | | | (0.8) | | | 0.8 | | | | | | | | | | | | Total before tax | | | | | | | $ | (0.7) | | | $ | 0.8 | | Tax (expense) benefit | | | | | | | — | | | — | | Net of tax | | | | | | | $ | (0.7) | | | $ | 0.8 | | | | | | | | | | | | Benefit plan funding position | | | | | | | | | | Recognized net actuarial loss - pension/postretirement plans | (3) | | | | | | $ | — | | | $ | (0.1) | | Recognized net actuarial gain (loss) - other plans | (3) | | | | | | (0.2) | | | (0.2) | | Total before tax | | | | | | | $ | (0.2) | | | $ | (0.3) | | Tax (expense) benefit | | | | | | | 0.1 | | | 0.1 | | Net of tax | | | | | | | $ | (0.1) | | | $ | (0.2) | |
(1)Primarily included in food and beverage costs and restaurant expenses. See Note 10 for additional details. (2)Included in general and administrative expenses. See Note 10 for additional details. (3)Included in the computation of net periodic benefit costs, which is a component of general and administrative expenses.
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