| Accumulated Other Comprehensive Income (Loss) |
Accumulated Other Comprehensive Income (Loss) Accumulated other comprehensive income (loss) (“AOCI(L)”) is composed of adjustments to the Company’s pension and postretirement medical benefit plans and unrealized gains/losses on the Company’s short-term investments. Following is a summary of AOCI(L) for the second quarter of 2025 and the second quarter of 2024:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | (in thousands) | | March 28, 2025 | | Pre-tax Activity | | Tax Effect | | June 27, 2025 | | Net pension activity: | | | | | | | | | | Actuarial gain | | $ | 4,412 | | | $ | (9) | | | $ | 3 | | | $ | 4,406 | | | Prior service costs | | (82) | | | 4 | | | (1) | | | (79) | | | Net postretirement benefits activity: | | | | | | | | | | Actuarial gain | | 2,960 | | | — | | | — | | | 2,960 | | | Prior service costs | | (624) | | | — | | | — | | | (624) | | | Unrealized gain (loss) on short-term investments | | 14 | | | (37) | | | 8 | | | (15) | | | Reclassification of stranded tax effects | | (4,809) | | | — | | | — | | | (4,809) | | | Total AOCI(L) | | $ | 1,871 | | | $ | (42) | | | $ | 10 | | | $ | 1,839 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | (in thousands) | | March 29, 2024 | | Pre-tax Activity | | Tax Effect | | June 28, 2024 | | Net pension activity: | | | | | | | | | | Actuarial gain | | $ | 533 | | | $ | — | | | $ | — | | | $ | 533 | | | Prior service costs | | (94) | | | 4 | | | (1) | | | (91) | | | Net postretirement benefits activity: | | | | | | | | | | Actuarial gain | | 741 | | | 26 | | | (6) | | | 761 | | | Prior service costs | | (624) | | | — | | | — | | | (624) | | | Unrealized loss on short-term investments | | (176) | | | 4 | | | (1) | | | (173) | | | Reclassification of stranded tax effects | | (4,809) | | | — | | | — | | | (4,809) | | | Total AOCI(L) | | $ | (4,429) | | | $ | 34 | | | $ | (8) | | | $ | (4,403) | |
Following is a summary of AOCI(L) for the first half of 2025 and the first half of 2024:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | (in thousands) | | December 31, 2024 | | Pre-tax Activity | | Tax Effect | | June 27, 2025 | | Net pension activity: | | | | | | | | | | Actuarial gain | | $ | 4,418 | | | $ | (18) | | | $ | 6 | | | $ | 4,406 | | | Prior service costs | | (85) | | | 8 | | | (2) | | | (79) | | | Net postretirement benefits activity: | | | | | | | | | | Actuarial gain | | 2,960 | | | — | | | — | | | 2,960 | | | Prior service costs | | (624) | | | — | | | — | | | (624) | | | Unrealized gain (loss) on short-term investments | | 25 | | | (51) | | | 11 | | | (15) | | | Reclassification of stranded tax effects | | (4,809) | | | — | | | — | | | (4,809) | | | Total AOCI(L) | | $ | 1,885 | | | $ | (61) | | | $ | 15 | | | $ | 1,839 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | (in thousands) | | December 31, 2023 | | Pre-tax Activity | | Tax Effect | | June 28, 2024 | | Net pension activity: | | | | | | | | | | Actuarial gain | | $ | 533 | | | $ | — | | | $ | — | | | $ | 533 | | | Prior service costs | | (97) | | | 8 | | | (2) | | | (91) | | | Net postretirement benefits activity: | | | | | | | | | | Actuarial gain | | 721 | | | 52 | | | (12) | | | 761 | | | Prior service costs | | (624) | | | — | | | — | | | (624) | | | Unrealized loss on short-term investments | | — | | | (228) | | | 55 | | | (173) | | | Reclassification of stranded tax effects | | (4,809) | | | — | | | — | | | (4,809) | | | Total AOCI(L) | | $ | (4,276) | | | $ | (168) | | | $ | 41 | | | $ | (4,403) | |
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